Jim Cramer Blog

Bullish Calls:
Chesapeake Energy (NYSE: CHK - News): 'The whole complex of natural gas is so ridiculously too low. Just because we had a couple of months stored... CHK is a great driller. It's got great assets. I believe that natural gas will come back in vogue.'Wynn Resorts (NasdaqGS: WYNN - News): 'Look, Macau gambling is for real! I've been behind the Macau gambling... I still like Wynn.'Las Vegas Sands (NYSE: LVS - News)Apache (NYSE: APA - News): 'I like APA. It has oil, it has gas, and it's right. It's beaten down, and I would pull the trigger today! 'Schlumberger (NYSE: SLB - News): 'Do you know that Schlumberger is selling at 17x next year's earnings?... This is just a very inexpensive stock... how could I not recommend that unbelievable best-of-breed?...'Helix Energy (NYSE: HLX - News): ' ... as much as I like the HLX... If SLB's selling at 17x earnings, I mean, how could I not recommend that unbelievable best-of-breed?... 'Shaw Group (NYSE: SGR - News): ' ... don't hold me to it, but I think that's going to be good. And SGR is on a remarkable run!... Now, look, understand... We had that horrible bridge tragedy, but all of us know the infrastructure is woefully needing repair. It's SGR. The infrastructure bull market is probably the strongest market on earth!'Fluor (NYSE: FLR - News)McDermott (NYSE: MDR - News)DaimlerChrysler (NYSE: DCX - News)Boeing (NYSE: BA - News): ' ... but I am reiterating absolutely that Boeing is a buy, and the orders will trickle down. It's just that we don't have them right now.'Cisco (NasdaqGS: CSCO - News): ' ... reported a blowout quarter tonight - as we've been predicting endlessly, and finally it happened... Remember, he did announce the $5 billion buyback at the end of his last quarter... buy, buy, buy - CSCO, even above $31. 'Level 3 Communications (NasdaqGS: LVLT - News)Garmin (NasdaqGS: GRMN - News): ' ... conference call for GRMN was amazing. The guide up was huge... GRMN's a keeper! Stay with GRMN - buy, buy, buy! 'Crocs (NasdaqGS: CROX - News)Under Armour (NYSE: UA - News)Temple Inland (NYSE: TIN - News): ' ... Temple Inland remains my favorite, courtesy of Carl Icaan and his restructuring. '
Bearish calls:
Zebra Technologies (NasdaqGS: ZBRA - News): 'I personally think that the bar code business has peaked. It's just not exciting to me. I don't want to be in it. Don't buy, don't buy.'Haynes International (NasdaqGM: HAYN - News): '... didn't report a good quarter..., is the aerospace bull market caput?... I think that there's a big lag between when the (Boeing) Dreamliner gets built, and all of these stocks blow away their numbers... Now it's still painful ... I think this group is going to be on hold, and the better side is the defense stocks right now..'.Starbucks (NasdaqGS: SBUX - News): ' ... I want good, solid growth... and consistent growth... and SBUX can no longer give that to me. Don't buy, don't buy. At $23, I'll pull the trigger.'Juniper Networks (NasdaqGS: JNPR - News): 'I believe that CSCO is better than JNPR. I am telling you - sell, sell, sell - JNPR.'Weyerhauser (NYSE: WY - News): 'They can't deliver.'
Published By SeekingAlpha

Labels: APA, BA, CHK, CSCO, DCX, FLR, GRMN, HLX, Jim Cramer, JNPR, Lightning Round, LVLT, LVS, Mad Money, MDR, SBUX, SGR, SLB, WYNN, ZBRA

Sole Survivor: Toyota Motor (NYSE: TM), Ford (NYSE: F), General Motors (NYSE: GM) and DaimlerChrysler (NYSE: DCX)
While Ford and General Motors are declining and Cerberus' acquisition of DCX should shrink it into a "teeny weeny auto company," Toyota will be the last big car company left, says Cramer. Although the stock is down after reporting disappointing numbers, Cramer believes TM will keep "growing and improving." Its decline in operating profit was the result of investing resources for growth, and Cramer notes TM is expanding while its competitors are shrinking. Cramer would buy TM while it is cheap.
Sweet as Honeywell (NYSE: HON)
Cramer continued his series on "transformational CEOs" with Dave Cote of Honeywell, who took the reins from "despised figure," Michael Bonsignore. The company was buried in asbestos problems, but since Dave Cote has taken over, the company has improved sales and cash flow. Athough it is up 10 points, Cramer is still bullish on HON.
Mad Mail: Level 3 Communications (NasdaqGS: LVLT), Syneron Medical (NasdaqGS: ELOS)
Cramer says LVLT is a good bandwith shortage play, and says CEO James Crowe is "bankable." While there is some concern over management change at ELOS, Cramer likes the company's recent numbers and says it is a "product story."

Published By SeekingAlpha

Labels: DCX, F, GM, HON, Jim Cramer, LVLT, Mad Money, TM

Chrysler's 80,000 workers may pay the price for German-based parent DaimlerChrysler's decision on Monday to turn over the keys of its U.S. car company to private equity firm Cerberus Capital Management for $7.4 billion.

Talks begin soon between the United Auto Workers and Detroit's car makers on a national contract and analysts expect Cerberus, headed by former Treasury Secretary John Snow, to push for radical changes at its money-losing Chrysler, Jeep and Dodge operations.
The announcement sent shudders through much of Chrysler's work force, despite assurances from Chrysler CEO Tom LaSorda that there are no major plans under discussion with Cerberus to cut jobs beyond a previously announced restructuring plan.

Labels: Daimlerchrysler AG, DCX

Here are 7 stocks for traders for Tuesday from TradingMarkets.com:
STEC Incorporated (NasdaqGM:STEC) missed earnings on Monday afternoon; analysts were looking for $0.06 EPS, but STEC announced $0.04 EPS. STEC's PowerRating is 5.

ViaSat (NasdaqGS:VSAT) beat earnings on Monday afternoon, announcing $0.34 EPS over an expected $0.33 EPS. VSAT's PowerRating is 6.
DaimlerChrysler (NYSE:DCX) reports earnings on Tuesday before the bell; watch for $1.13 EPS. DCX's PowerRating is 5.
When Fossil (NasdaqGS:FOSL) announces quarterly earnings on Tuesday morning, look for $0.20 EPS. FOSL's PowerRating is 6.
When Home Depot (NYSE:HD) reports earnings early Tuesday, analysts will be watching for $0.60 EPS. HD's PowerRating is 5.
TJX Companies (NYSE:TJX) should report $0.38 EPS before the bell on Tuesday morning. TJX's PowerRating is 5.
Analysts expect Wal-Mart (NYSE:WMT) to announce $0.68 EPS before the market opens on Tuesday. WMT's PowerRating is 6.
PowerRatings are courtesy of PowerRatings.net

Labels: DCX, FOSL, HD, Hot Stocks, STEC, TJX, VSAT, WMT

Most Underpriced Calls: These are the most under priced calls of all stocks in our database. While the Equities Explosion List finds groups of calls for individual equities that are under priced, this list finds the most under priced individual calls. Thus, the options listed here will tend to be more severely under priced.
Google Inc. Jun 530 Calls (NasdaqGS:GOOG - News). GOOG's PowerRating is 5.
Most Underpriced Puts: These are the most under priced puts of all stocks in our database. While the Equities Explosion List finds groups of puts for individual equities that are under priced, this list finds the most under priced individual puts. Thus, the options listed here will tend to be more severely under priced.
DaimlerChrysler AG Apr 90 Puts (NYSE:DCX - News). DCX's PowerRating is 5.
Most Overpriced Calls: These are the most overpriced calls of all stocks in our database. While the Equities Implosion List finds groups of calls for individual equities that are overpriced, this list finds the most overpriced individual calls. Thus, the options listed here will tend to be more severely overpriced.
Vertex Pharmaceuticals Apr 30 Calls (NasdaqGS:VRTX - News). VRTX's PowerRating is 3.
Advanced Magnetics Apr 65 Calls (NasdaqGM:AMAG - News). AMAG's PowerRating is 3.
Most Overpriced Puts: These are the most overpriced puts of all stocks in our database. While the Equities Implosion List finds groups of puts for individual equities that are overpriced, this list finds the most overpriced individual puts. Thus, the options listed here will tend to be more severely overpriced.
Dendreon Corp. May 20 Puts (NasdaqGM:DNDN - News). DNDN's PowerRating is 1.
Stocks with Abnormal Call Volume: These are stocks which showed unusual call option volume not easily explained by arbitrage operations. The appearance of a stock on the Call Volume Alerts list suggests a possible takeover, extraordinarily good earnings report, or other news which may favorably affect the stock.
Devon Energy (NYSE:DVN - News) . DVN's PowerRating is 4.
Stocks with Abnormal Put Volume: These are stocks which showed unusual put option volume not easily explained by arbitrage operations. The appearance of a stock on the Put Volume Alerts list suggests an extraordinarily negative earnings report, or other news which may negatively affect the stock.
None Today
Abnormal Put/Call $ Volume: These stocks have the highest dollar put volume in relation to their call volume. These high ratios are indicative of extreme bearish sentiment in the underlying stock.
Wells Fargo & Co. (NYSE:WFC - News). WFC's PowerRating is 4.
PowerRatings are courtesy of TradingMarkets.com

Labels: AMAG, DCX, DNDN, DVN, GOOG, stock options, VRTX, WFC

Here are 7 stocks for traders for Monday from TradingMarkets.com:
Schnitzer Steel (NasdaqGS:SCHN - News) reports earnings Monday before the bell, with analysts watching for $0.69 EPS. SCHN's PowerRating is 5.
Lawson Software (NasdaqGS:LWSN - News) reports Monday after the bell, so watch for heightened price action and volume ahead of the close. LWSN's PowerRating is 3.
Kirk Kerkorian offered DaimlerChrysler (NYSE:DCX - News) $4.5 billion for the company's U.S. auto division. It is rumored that Magna International (NYSE:MGA - News) and General Motors (NYSE:GM - News) are also eying the U.S. division of DCX. DCX's PowerRating is 5, MGA's PowerRating is 5, and GM's PowerRating is 5.
Nokia (NYSE:NOK - News) paid Qualcomm (NasdaqGS:QCOM - News) $20 million for the use of its 3rd generation patent licenses; despite striking a deal, the two companies are still at odds over other pending patent battles. NOK's PowerRating is 5, and QCOM's PowerRating is 6.
PowerRatings are courtesy of PowerRatings.net

Labels: DCX, GM, Hot Stocks, LWSN, MGA, NOK, QCOM, SCHN

DaimlerChrysler (NYSE: DCX - News): Cramer predicts DCX will go from $84 to $90 on Kirk Kekorian's $4.5 billion offer. He comments that Jerry York is a "smart guy" and people underestimate both Kekorian and York.
Ford (NYSE: F - News): Concerning controversy over the $28 million payout to Ford CEO Alan Mulally, Cramer commented Mulally is "worth every penny" and is doing a fantastic job saving Ford from bankruptcy.
Under Armour (NYSE: UA - News), Crocks (NasdaqGS: CROX): Although Cramer likes UA more than CROX, he says the shorts are "out of control," especially since everyone will be wearing the shoes this summer, and he would pick CROX; "I believe that this is another situation where the shorts should have their shoelaces and their belts removed, because I just don't want them to cause harm to themselves."
Published by SeekingAlpha

Labels: CROX, DCX, F, Hot Stocks, Jim Cramer, Stop Trading, UA

Stocks traded modestly higher to record their sixth-straight advance ahead of a three-day weekend. Despite the gains, there was little news to propel a stronger advance. One exception was DaimlerChrysler (NYSE: DCX - News), which gained 5.3% on a report that it had a cash offer on the table for its Chrysler unit. Oil prices declined slightly, and the 10-year Treasury note also closed lower.

The activity in DaimlerChrysler was spurred by a report in The Wall Street Journal that investor Kirk Kerkorian's Tracinda Corp. offered to buy Chrysler for $4.5 billion in cash. Kerkorian had been an active investor in Chrysler before it merged with Daimler Benz. He recently sold his 10% stake in General Motors (NYSE: GM - News), which gained 2.8% today.
Tech stocks came under some pressure early in the session after Micron Technology (NYSE: MU - News) posted a fiscal Q2 loss late Wednesday. The flash memory maker posted a loss of -$52 million for the quarter ended March 30th, or -7 cents per share, compared with a profit of $193 million, or 29 cents per share, last year. Wall Street expected the company to lose a penny a share. The stock traded down -4.6%, and Goldman Sachs advised clients to sell the stock.
Business software maker WebMethods (Nasdaq: WEBM - News) jumped 27.2% on news that it agreed to be acquired by Germany's Software AG. Shares of Constellation Brands (STZ, $21.49, 0.67), the world's biggest wine producer, rose 3.2% after the company reported its fiscal Q4 profit rose 21%. The company reported net income in the quarter ended February 28th of $70 million, or 29 cents a share, up from $58 million, or 24 cents a share, a year earlier. Strong wine sales offset a weak performance in Britain and a drop in beer imports in the U.S.
Shares of data storage maker Rackable Systems (Nasdaq: RACK - News) shed -15.6% to hit a 52-week low after the company issued reduced guidance for Q1. The company is now forecasting a loss. Caris & Co. reiterated a "sell" recommendation for Rackable Systems.
In other news, Vertex Pharmaceuticals (Nasdaq: VRTX - News) rose 3.6% in advance of what are expected to be favorable results from a clinical trial of the biotech company's hepatitis C drug Telaprevir. Medical diagnostic company Biosite (Nasdaq: BSTE - News) jumped 10.5% on news of an unsolicited $90-a-share purchase offer from Inverness Medical Innovations (NYSE: IMA - News). Beckman Coulter (NYSE: BEC - News), a maker of medical tests, put an $85-a-share offer on the table for Biosite in March. Inverness already owns 4.9% of Biosite's stock.

By the BullMarket.com Staff

Labels: BEC, BSTE, DCX, GM, IMA, MU, RACK, VRTX, WEBM

Billionaire investor Kirk Kerkorian's Tracinda Corp. on Thursday made a $4.5 billion cash offer for DaimlerChrysler AG's troubled U.S.-based Chrysler unit.
Tracinda in a statement said it wants "to build and strengthen" the troubled automaker and "will offer the UAW and Chrysler management the opportunity to participate as equity partners in the transaction."

Labels: Daimlerchrysler AG, DCX, Kirk Kerkorian, Tracinda Corp.

The best monthly sales performance ever for Toyota and gains by fellow Japanese automakers Honda and Nissan helped the industry in March top last year's best month for U.S. sales despite declines by GM, Ford and DaimlerChrysler.
Toyota's U.S. sales jumped 11.7 percent in March compared with a year ago, boosted by record hybrid sales and strong overall car sales. Industrywide, light vehicle sales by major automakers rose 0.8 percent to 1.54 million, Autodata Corp. said Tuesday.

Labels: DCX, F, GM, TM, Toyota Motor Corp.

Stocks traded weakly today as investors became skittish over fears that problems in the subprime mortgage market are going to spill over into other sectors and lead to a slowing of the economy. Exacerbating those fears was a sharp loss by one of the nation's largest homebuilders, which said it could no longer accurately forecast its results for this year, along with a report of declining consumer confidence. The 10-year Treasury note also traded lower today, while crude oil futures closed up fractionally.
The catalyst for today's slump was the fiscal Q1 profit report from Florida-based homebuilder Lennar (NYSE: LEN - News). The company's FQ1 profit plunged -73%, driven lower by weak sales, the woes of the subprime sector, and rising land prices. Lennar joins fellow builders KB Homes (NYSE: KBH - News), Hovnanian Enterprises (NYSE: HOV - News), and Toll Brothers (NYSE: TOL - News) as reporting sharply lower earnings in the past month. The company acknowledged it would not meet its previously issued forecast for full-year earnings, and said it was "not comfortable" with making any further predictions at this time.
Lennar's report was in many respects not surprising, given what its competitors previously announced and coming as it did on the heels of yesterday's surprisingly weak report on February new-home sales from the Commerce Department. January sales were also sharply lower, the government previously said. The bad news from the housing sector, and a recent surge in prices at the pump, was reflected in a drop in consumer confidence as measured in a monthly survey by The Conference Board, a private business group.
In market news today, Pennsylvania utility operator PPL (NYSE: PPL - News) hit its second-consecutive new 52-week high after Lehman Brothers upgraded the stock to "overweight" from "equal weight," and boosted its target to $47 from $38. The stock added 2.7%, topping the $40.05 one-year high it set on Monday.
Independent refiner Valero Energy (NYSE: VLO - News) closed higher after announcing in a regulatory filing that it was delaying a planned expansion in Quebec and canceling another refinery project in Texas. The company was expected to discuss its plans at an industry conference tomorrow. Valero cited the need for controlling its capital spending in the face of rising refinery construction costs.
Shares of automaker DaimlerChrysler (NYSE: DCX - News), meanwhile, rose on reports that two different private equity groups, assisted by Wall Street banks, would submit bids for the company's troubled Chrysler unit by as early as Thursday. According to a report in the Detroit News, Blackstone Group and Centerbridge Partners have assembled a group of banks that includes Lazard (NYSE: LAZ - News), Lehman Brothers (NYSE: LEH - News), and Bank of America (NYSE: BAC - News) for one bid. Another offer for the carmaker, the newspaper reported, may come from Cerberus Capital Management with help from Goldman Sachs Group (NYSE: GS - News).
By the BullMarket.com Staff

Labels: BAC, DCX, GS, HOV, KBH, LAZ, LEH, LEN, PPL, TOL, VLO

Stocks trade mixed Friday, but close the week with solid gains. The Dow (^DJI) added 19.87 points to close at 12,481.01. The S&P 500 (^SPX) gained 1.57 points to 1,436.11. The Nasdaq (^IXIC) lost 2।81 points to 2,448.93. Volume was light on the session with the NYSE trading 1.40 billion shares and the Naz turning over 1.67 billion. Market breadth was positive by an 18-to-14 and 16-to-14 margin on the Big Board and Naz respectively.
Economic news was a positive Friday with existing home sales rising 3.9 percent. This was much better than the decline economists were expecting and is the third straight month of gains. Existing home sales continue to benefit from low mortgage rates. However, with the subprime market seeing problems, future sales could be hurt by a shortage of lending options. At the same time, NY Fed President Geithner stated that he does not see evidence of the subprime problem spilling over to the broader credit market.
Shares of Amgen (AMGN) dropped 4.1 percent after the drug maker discontinued a clinical trial for its drug Vectibix. The company was hoping to get the drug approved for a chemotherapy program for colorectal cancer. Shares of ImClone (IMCL) gained 13.6 percent because the company makes Erbitux, a competing drug.
Shares of General Motors (GM) rose 5.5 percent on rumors that other companies were interested in bidding for DaimlerChrysler's (DCX) Chrysler division. It seems GM shareholders do not like the idea of buying Chrysler. Shares of DCX also gained ground, up 6.1 percent.
Shares of Nike (NKE) gained 0.4 percent on news profits rose almost 8 percent in the most recent quarter. The company stated that strength in Europe and Asia led to the these gains, but the shoe maker also stated that margins will be flat to lower in the current quarter throughout the year.
Oil prices rose for the second straight session on news 15 members of the British Navy were being held by Iranian forces. This pushed crude higher by 59-cents to $62.28 a barrel. For the week, oil prices were up 4.5 percent. The feeling is that economic growth might not decline as much as initially expected and this could lead to stronger energy demand.
Overall, the bulls have to be pleased with the strength seen this past week. Now focus will turn to a number key economic reports next week and to upcoming earnings announcements in the weeks to come.
Jody Osborne

Labels: AMGN, DCX, GM, IMCL, NKE

For the second day in a row, stocks hovered close to unchanged without any major catalysts emerging to inspire buyers or sellers. All three major indexes managed to close in positive territory bolstered by better-than-expected housing data as well as reports of potential M&A activity in the auto sector.
The National Association of Realtors announced that existing home sales jumped by the biggest amount in almost three years, jumping 3.9% in February to an annual rate of 6.69 million. Analysts had expected a drop in existing home sales. At the same time, however, the median home price dropped year over year for the seventh month in a row and the inventory of unsold homes rose. Earlier this week, the Fed noted that there is an ongoing "adjustment" occurring in the housing market.
In corporate news, DaimlerChrysler (NYSE: DCX - News) spiked 6% higher amid growing speculation that the company will sell off its Chrysler arm. Larger private equity firms like Cerberus Capital Management and Blackstone Group have reportedly been in contact with Chrysler management regarding a deal. The news contributed to a 6% gain in shares of fellow beleaguered automaker General Motors (NYSE: GM - News), which also announced grants of performance-based restricted stock units to executives.
In other M&A news, office-supply firm Avery Dennison (NYSE: AVY - News) announced that it will buy Paxar (NYSE: PXR - News), a maker of clothing labels and tags, for more than $1.3 billion. The offer of $30.50 per share represents a 27% premium based on Paxar's closing price on Thursday. Staffing services firm Kronos (Nasdaq: KRON - News) spiked 14% after announcing that it will be acquired by private equity firm Hellman and Friedman for around $1.8 billion.
Footwear and athletic apparel giant Nike (NYSE: NKE - News) reported earnings after the bell yesterday. The company handily beat FQ3 EPS estimates and posted sales just above the consensus. However, the company indicated that gross margins may come under pressure in the current quarter. The stock opened lower but managed to recoup most of those losses during the day. Smaller rival Under Armour (NYSE: UA - News) was up 2% on the day helped by positive comments from Jim Cramer.
Both Amgen (Nasdaq: AMGN - News) and Genentech (NYSE: DNA - News) dropped lower today. Amgen was hit after halting a study for colorectal cancer drug Vectibix. ImClone Systems (Nasdaq: IMCL - News), which co-markets competing drug Erbitux with Bristol-Myers Squibb (NYSE: BMY - News), spiked 14% on the news. Genentech dropped after announcing that its Q1 sales will be flat sequentially.

Labels: AMGN, AVY, BMY, DCX, DNA, GM, IMCL, KRON, NKE, PXR, UA

ABM Industries Inc. (NYSE:ABM - News) shares rose Tuesday after the San Francisco-based facility services contractor reported fiscal first-quarter net earnings of $8.7 million, or 18 cents a share, up from $4 million, or 8 cents a share, in the year-ago period. Revenue rose 5.5% to $703.5 million from $666.6 million. ABM forecast fiscal second-quarter earnings of 28 cents to 32 cents, and raised its fiscal 2007 forecast to a range of $1.04 to $1.08 a share, or $1.12 to $1.16 a share excluding items.
Accuride Corp.'s (NYSE:ACW - News) fourth-quarter earnings fell slightly to $14.3 million, or 41 cents a share, from $14.9 million, or 43 cents a share, a year earlier. Sales at the Evansville, Ind., supplier of commercial vehicle components rose to $344.9 million from $297.7 million a year earlier, due to increased demand in the commercial vehicle industry and the partial pass-through of rising raw material costs. Analysts, on average, expected the company to earn 29 cents a share, according to Thomson Financial. For 2007, the company expects adjusted earnings before interest, taxes depreciation and amortization of $115 million to $135 million.
ADC Telecommunications (NasdaqGS:ADCT - News) reported first-quarter net earnings of $3.6 million, or 3 cents a share. During the same period a year ago, ADC posted a net loss of $1.8 million, or 2 cents a share. Earnings from continuing operations were $9.4 million, or 8 cents a share. A year ago, the loss from continuing operations was $1.3 million, or a penny a share. The provider of communications network infrastructure products and services posted revenue of $297.2 million vs. $272.8 million.
AES Corp. (NYSE:AES - News) was upped to overweight from equal-weight by Lehman Bros., though its price target was held at $24. "We like AES' 10% free cash yield and discount valuation to independent power producers. We believe investors have over-reacted to AES for its delay in filing the 10-K and its global earnings mix in the current environment," the broker said.
Altria Group (NYSE:MO - News) was upgraded to buy from hold at Deutsche Bank.
Ann Taylor Stores (NYSE:ANN - News) was upgraded to buy from neutral at Banc of America Securities.
Bankrate (NasdaqGS:RATE - News) was upgraded to above average from average at Caris & Co.
Barrier Therapeutics Inc. (NasdaqGM:BTRX - News) said it has entered an agreement with Novartis AG under which Novartis' consumer health division will promote Barrier Therapeutics' Vusion treatment for diaper dermatitis to pediatricians in the U.S. Under the agreement, which runs through 2008, Barrier will pay Novartis a flat fee for each sales call made to a pediatrician.
Bausch & Lomb (NYSE:BOL - News) said it initiated a limited voluntary recall of from distribution centers and retail shelves in the U.S. and specific other countries of 12 lots of ReNu MultiPlus lens care solution made at its plant in Greenville, S.C. because they contain an elevated level of trace iron. This may result in discoloration of the solution in some bottles, and the shelf life of the product may be shortened to less than its two-year expiration date, due to a potential loss of effectiveness over time. The company has received no reports of serious adverse events associated with these lots and believes virtually all of the affected product has already been used by consumers. The Rochester, N.Y.-based company has notified the U.S. Food and Drug Administration of this action. The company initiated a probe after receiving three customer reports of discolored solution. Bausch & Lomb does not expect the costs associated with this recall will have a significant impact on its financial results. The eye care company has struggled recently after it recalled its ReNu with MoistureLoc contact-lens solution due to an outbreak of eye-fungus infection. The company also released preliminary results for the fourth quarter and year and, citing a recall of its MoistureLoc contact lens solution, said its U.S. operations will be unprofitable.
Boyd Gaming (NYSE:BYD - News) was upgraded to buy from hold at Morgan Joseph.
Building Materials Holding Corp. (NYSE:BLG - News) was upgraded to buy from neutral at Sidoti & Co.
CBS Corp. (NYSE:CBS - News) agreed to buy back about 47 million shares of CBS class B common stock through an accelerated share repurchase transaction. The media company said it intends to effect this repurchase today. This the $1.4 billion buyback is in connection with CBS's share repurchase program announced on Feb. 27. The cost of the repurchased shares is subject to adjustment, CBS said.
Chartered Semiconductor Manufacturing (NasdaqGS:CHRT - News) backed is first-quarter earnings estimate of about $6 million, on revenue of about $324 million. The Milpitas, Calif., company will release first-quarter results on April 27.
CollaGenex Pharmaceuticals Inc.'s (NasdaqGM:CGPI - News) fourth-quarter loss narrowed to $4.83 million, or 28 cents a share, from $6.41 million, or 72 cents a share, a year earlier. The Newtown, Pa., pharmaceutical company said fourth-quarter revenue climbed to $13.2 million from $2.95 million, largely due to sales of Oracea, which totaled $9.7 million for the latest period. The drug, which treats inflammatory lesions of rosacea, was launched in the U.S. in July 2006. Analysts polled by Thomson Financial expected, on average, a fourth-quarter loss of 42 cents a share on revenue of $10.5 million.
Countrywide Financial (NYSE:CFC - News) chief financial officer says some subprime lenders will likely go belly up as a result of the current turmoil in the sector, but he stressed that the mortgage giant will pull through because of its broader business mix.
DaimlerChrysler (NYSE:DCX - News) stock jumped as Cerberus Capital Management emerged as the latest suitor for Chrysler after the private equity giant reportedly met with the struggling automaker to discuss a potential bid.
Datatrak International Inc. (NasdaqCM:DATA - News) shares gained after the company announced that it has been selected as the exclusive clinical trial technology platform by a unnamed multi-billion dollar North American pharmaceutical company. Cleveland-based Datatrak said the company was not previously a customer. Specifications and budgets related to the pending projects are not yet finalized, but Datatrak said multiple clinical trials are expected to begin in 2007.
Finisar Corp. (NasdaqGS:FNSR - News) reported pro forma third-quarter revenue of $107.5 million, up 16% from the year-ago period. The Sunnyvale, Calif.-based optical equipment company said its results were preliminary due to its ongoing review of historical stock options grants.
First Consulting Group Inc. (NasdaqGM:FCGI - News), the Long Beach, Calif., provider of outsourcing, consulting and systems-implementation and -integration services to health-related industries, delayed releasing its fourth-quarter and full-year financial results by a week, to March 13. In a statement, FCGI said it needed the extra time to complete tax-related analysis regarding how to apply certain net-operating-loss carry-forwards. "The analysis is not expected to impact the company's pre-tax operating results in any period," First Consulting said.
Fuel Tech Inc. (NasdaqGM:FTEK - News) shares gained after the Batavia, Ill.-based company reported a fourth-quarter net profit of $1.46 million, or 6 cents a share, down from $2.62 million or 11 cents a share, in the year-ago period. Revenue rose 11% to $18.1 million from $16.3 million in the same period last year. Analysts polled by Thomson Financial were expecting a per-share profit of 5 cents on revenue of $17.1 million. Fuel Tech forecast 2007 revenue of $90 million to $95 million.
Published By MarketWatch

Labels: ABM, ACW, ADCT, AES, ANN, BLG, BOL, BTRX, BYD, CBS, CFC, CGPI, CHRT, DATA, DCX, FCGI, FNSR, FTEK, MO, RATE

Allied Waste Industries Inc. (NYSE:AW - News) reported fourth-quarter net income of $9.8 million, or break-even measured in per-share results, down from $66.7 million, or 15 cents a share, a year ago.

Shares of Bright Horizons Family Solutions Inc. (NasdaqGS:BFAM - News) gained ground after the Boston-based provider of child care and early education reported fourth-quarter net earnings of $11 million, or 41 cents a share, up from $9.8 million, or 35 cents a share, in the year-ago period. Revenue rose to $181.3 million from $163.1 million. Analysts polled by Thomson Financial were expecting a per-share profit of 39 cents on revenue of $181.9 million.
Bsquare Corp. (NasdaqGM:BSQR - News) reported fourth-quarter net earnings of $706,000, or 7 cents a share. During the same period a year ago, the company posted a net loss of $246,000, or 3 cents a share.
Buffalo Wild Wings (NasdaqGS:BWLD - News) said quarterly net income rose, as revenue gained, to $6.8 million, or 77 cents a share, from $2.62 million, or 30 cents a share, during the same period in the prior year. Analysts polled by Thomson Financial were looking for per-share earnings of 53 cents. The Minneapolis-based operator of restaurants said quarterly revenue rose to $83.3 million from $59 million in the prior year, while Wall Street was looking for $81 million.
Campbell Soup Co.'s (NYSE:CPB - News) fiscal second-quarter net income rose to $285 million, or 72 cents a share, from $254 million, or 61 cents a share, a year ago. Excluding items, earnings were 68 cents a share for the quarter. A Thomson Financial survey of analysts, on average, predicted earnings of 63 cents a share for the quarter. Analysts' estimates usually exclude items. The Camden, N.J., food company said sales for the quarter ended Jan. 28 rose 4.3% to $2.25 billion from $2.16 billion a year earlier. The company raised its fiscal 2007 forecast for EPS growth from continuing operations to 10% to 12% from 5% to 7%.
Cascade Corp. (NYSE:CAE - News) was tabbed to replace ElkCorp in the S&P SmallCap 600 index. ElkCorp is being acquired by Building Materials Corp. of America.
Chipotle Mexican Grill (NYSE:CMG - News) said more customers eating at its restaurants helped feed fourth-quarter results that were far better than Wall Street's expectations. Denver-based Chipotle -- ending its first fiscal year as a public company -- said it made $10.8 million, or 33 cents a share, for the quarter compared with last year's profit of $4.26 million, or 16 cents a share.
Compass Bancshares (NasdaqGS:CBSS - News) agreed to be acquired by BBVA (NYSE:BBV - News) for $9.6 billion. Compass holders will be able to get either 2.8 BBVA U.S.-listed shares or $71.82 in cash. BBVA said the deal is at a 16% premium to Compass' average price over the last ten days. BBVA said U.S. operations will represent about 10% of the group's operation.
DaimlerChrysler (NYSE:DCX - News) shares advanced following a report that the company is in talks to sell its Chrysler Group business to General Motors (NYSE:GM - News), according to industry trade publication Automotive News.
Ditech Networks (NasdaqGM:DITC - News) reported fiscal third-quarter earnings of $2 million, or 6 cents a share, up from a year-ago loss of $100,000, or breakeven on a per share basis. On a non-GAAP basis, the Mountain View, Calif., maker of voice processing equipment earned $3 million, or 9 cents a share, in the latest quarter. Looking ahead, Ditech said it expects revenue to rise 5% in the fourth quarter from its third-quarter total of $22.1 million.
Fieldstone Investment Corp. (NasdaqGS:FICC - News) has agreed to be purchased for $5.53 a share in cash, a premium of $2.93 a share, or 112% over its closing price of $2.60 a share on Thursday. The buyers are Credit-Based Asset Servicing and Securitization LLC (C-BASS); an affiliate of MGIC and Radian Group. The purchase price values the Columbia, Md. real estate investment trust with a portfolio of non-conforming mortgage loans at about $260 million.
First BanCorp (NYSE:FBP - News) shares surged after the San Juan, P.R.-based company agreed to sell roughly 9.25 million shares of its common stock to Scotiabank for $94.8 million, valuing the shares at $10.25 each. After the sale, Scotiabank will hold 10% of First BanCorp's outstanding common stock. In addition, First BanCorp has agreed to notify Scotiabank if it makes any decision to begin a process to sell itself during the first 18 months after Scotiabank's investment is made, and to negotiate with Scotiabank exclusively for 30 days if Scotiabank so requests.
Gentiva Health Services (NasdaqGS:GTIV - News) was upgraded to outperform from market perform at Raymond James.
Hittite Microwave Corp. (NasdaqGS:HITT - News) reported fourth-quarter net earnings of $12.1 million, or 39 cents a share, up from $7.11 million, or 23 cents a share, a year earlier.
Hurco Cos. (NasdaqGS:HURC - News) posted first-quarter earnings of $5.4 million, or 84 cents a share, up from a year-ago profit of $3 million, or 48 cents a share. Sales jumped 47% in the latest three months to $46.9 million from $31.9 million a year ago. The Indianapolis-based industrial technology company said its strong performance in the quarter reflects improved demand, specifically in European markets.
J. .M. Smucker Co.'s (NYSE:SJM - News) fiscal third-quarter earnings rose 29% to $40.4 million, or 71 cents a share, from $31.3 million, or 54 cents a share, a year earlier, boosted by higher sales at its continuing operations, a lower tax rate, a decrease in merger expenses and fewer outstanding shares. Excluding restructuring and merger expenses, the company earned 72 cents a share, up from 68 cents a year earlier. The Orrville, Ohio, maker of branded fruit spreads, peanut butter and other food products said net sales for the quarter ended Jan. 31, fell 2.5% to $523.1 million from $536.5 million.
Mohawk Industries Inc. (NYSE:MHK - News) said fourth-quarter net income rose, as revenue gained, to $129.5 million, or $1.90 a share, from $99.6 million, or $1.47 a share, during the same period in the prior year. The flooring supplier said quarterly revenue increased to $1.9 billion from $1.8 billion in the prior year.
Mosaic Co. (NYSE:MOS - News) said the salt saturated brine inflow at its Esterhazy, Saskatchewan mines has decline to an estimated rate of about 12,000 gallons per minute. The initial estimate was for a flow of 20,000 to 25,000 gallons per minute.

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