Jim Cramer Blog

Dick's Sporting Goods (NYSE:DKS) experienced its biggest drop since the bear market bottom in October 2002 after its annual profit forecast was less than analysts expected. The Short Term PowerRating for DKS is 7.
Evergreen Solar (NasdaqGM:ESLR), the solar power panel parts maker, ended the day up by more than 10% on news of a new $750 million contract. The Short Term PowerRating for ESLR is 3.
The biggest producer of electricity from natural gas, Calpine (NYSE:CPN) was up by more than 8% on the day on news that NRG Energy (NYSE:NRG) was making an unsolicited bid for the company. The Short Term PowerRating for NRG is 5.
BCE, Inc. (NYSE:BCE) was down by 12% as bondholders won the right to challenge a planned leveraged buyout of the company. The Short Term PowerRating for BCE is 5.
Gap Inc. (NYSE:GPS) announced earnings on Thursday that beat analyst estimates by three cents. The Short Term PowerRating for GPS is 5.
Ford Motor Company (NYSE:F) admitted that it would likely break even in 2009, later than analysts had expected. The stock was down more than 8% on the news. The Short Term PowerRating for F is 8.

Labels: BCE, CPN, DKS, ESLR, F, GPS, Hot Stocks, NRG

Ford Motor Co. narrowed its losses in the fourth quarter amid continued weakness in North America, said the outlook for U.S. sales in 2008 remains grim and is making more employee buyout offers to cut costs.
Ford is offering buyouts to its 54,000 U.S. hourly workers, Chief Executive Alan Mulally said. Mulally said salaried cuts will also be made, mostly through attrition. The company will also adjust production schedules as demand sags.

Labels: F, Ford Motor co.

All three major indices closed lower on the day, as investors continue to show concern over the housing and financial sectors. The Dow lost -57 points on the day to close at 13,315. Meanwhile, the Nasdaq and S&P each closed down to end at 2,637 and 1,472, respectfully. Light, sweet crude edged higher to settle at $89.31 per barrel. Treasury and gold prices each posted gains, while the dollar slid against the euro and the yen.
On the economic front, the Institute for Supply Management reported that a reading of its manufacturing index for November showed a drop to 50.8. Analysts had forecasted a slightly larger dip to 50.5. Any reading above 50 represents economic growth.
In corporate news, shares of VeriFone (NYSE: PAY - News) tumbled -45.8% on the day after announcing that accounting errors had caused it to overstate pretax earnings for the first nine months of the year by nearly $30 million, or 80%. As a result, the company said it expects to reduce its pretax income by -$8.9 million in the first quarter, -$7.0 million in the second quarter, and -$13.8 million in the third quarter. VeriFone said it will delay releasing its fourth-quarter results until a thorough assessment has been completed. Subscribers can read our take on VeriFone in today's edition.
Elsewhere, one of the nation's largest homebuilders, Lennar (NYSE: LEN - News), announced today that it has sold 11,000 lots at -40% of their value, as part of a joint venture it has formed with Morgan Stanley's (NYSE: MS - News) real estate unit. The homebuilder said it will record a fourth-quarter loss of about -$3.09 per share as a result of the sale that saw it unload the properties valued at $1.3 billion for a total of $525 million. Shares of Lennar were up 5.7% in trading, while shares of Morgan Stanley were off -0.8% at the bell.
Shares of General Motors (NYSE: GM - News) dipped -4.1% in trading after the company reported that sales for the month of November fell -11% compared to last year. Analysts had been predicting a rise in November sales. Meanwhile, Ford Motors (NYSE: F - News) said November auto sales had increased by 0.4%. Analysts had predicted a drop in Ford sales. Ford was off -3.5% on the day.
In M&A news, French conglomerate Vivendi SA announced Sunday that it will acquire a majority stake in Activision (Nasdaq: ATVI - News) and combine it with Vivendi Games, making the combined company the world's largest video game maker by market cap. According to the terms of the deal, Vivendi is set to purchase 62.9 million new shares of Activision stock for $1.7 billion, and exchange Vivendi Games for 295.3 new shares valued at $8.1 billion. The per-share price for both segments of the transaction amounts to $27.50. Activision's stock soared 12.7% in trading.

Labels: ATVI, F, GM, LEN, Morgan Stanley, MS, PAY

Here are 7 stocks for traders for Thursday from TradingMarkets.com:
Cisco Systems (NasdaqGS:CSCO - News) beat earnings estimates on Wednesday, announcing $0.40 EPS over an expected $0.36 EPS. CSCO's PowerRating (for Traders) is 5.
j2 Global (NasdaqGS:JCOM - News) also beat earnings, reporting $0.38 EPS versus a consensus of $0.37 EPS. JCOM's PowerRating (for Traders) is 7.
Clear Channel (NYSE:CCU - News) reports earnings on Thursday morning, with analysts looking for $0.38 EPS. CCU's PowerRating (for Traders) is 5.
Dean Foods (NYSE:DF - News) is looking to announce $0.15 EPS on Thursday morning before the market opens. DF's PowerRating (for Traders) is 5.
Analysts are watching for Ford Motors (NYSE:F - News) to report -$0.48 EPS on Thursday morning. F's PowerRating (for Traders) is 5.
Rockwell Automation (NYSE:ROK - News) should announce $1.06 EPS on Thursday before the market opens. ROK's PowerRating (for Traders) is 5.
Vonage (NYSE:VG - News) is expected to report -$0.12 EPS tomorrow morning. VG's PowerRating (for Traders) is 5.

Labels: CCU, CSCO, DF, F, Hot Stocks, JCOM, ROK, VG

Crude oil closed at another record high at $97.10 and finally finished Tuesday at $96.70. Adami tells viewers they can play Valero (VLO) on valuation or go with Tesoro (TSO).
Finerman offers EnergySolutions (ES) as an idea since it is scheduled to IPO next week. She would also consider Cameco (CCJ) but only with options. Najarian continues to favor Cypress Semiconductor (CY).
Auto Stocks
General Motors (GM) is set to report earnings Wednesday morning before the bell and Ford Motor (F) is set to report earnings on Friday before the bell. Adami likes Ford Motor. General Motors traded down 3% after hours on news that the company will take a $39 billion non-cash charge on financial assets in the mortgage arm. Macke says that Toyota Motor (TM), Honda Motor (HMC) and Hertz Global Holdings (HTZ) all lose from the continued improvements at Ford and General Motors.
Financials: Macke says we saw a counter trend rally on Tuesday and everything worked accept Citigroup (C) and the retailers. Goldman Sachs (GS) denies write-down speculation for the fourth time on Tuesday.
Google (GOOG) continues to surprise investors with news like the recent entry into the mobile handset market. Najarian thinks the trade is Focus Media Holding (FMCN), which is a China play that sells advertising space on mobile handsets. Google, Apple (AAPL), Intel (INTC), Cisco (CSCO) and Research In Motion (RIMM) all hit 52-week highs Tuesday. Yahoo (YHOO) shares took a hit Tuesday. Cisco Systems (CSCO) is set to report earnings Wednesday.
Adami thinks if the Fed is done cutting rates then Public Service Enterprise Group (PEG) will go lower and you can buy it in the low $80’s.
Pops & Drops
Pops- Archer Daniels Midland (ADM) traded up 7% on a strong profits report.
Jacobs Engineering Group (JEC) traded up 5% after profits rose 43%.
XM Satellite Radio (XMSR) traded up 12% on speculation that the merger with Sirius could get done by year end.
IndyMac Bancorp (IMB) traded up 10% after the CEO said the company would survive the mortgage blowup.
Church & Dwight (CHD) traded up 9% after posting a 34% jump in profits.
MasterCard (MA) traded up 7% after Deutsche Bank upgraded the stock and slapped a $250 price target on the credit card name.
Beazer Homes USA (BZH) trades up 10% after shareholders demand the CEO be fired.
Tenet Healthcare (THC) popped 22% as revenues per patient rose 8%.
Drops- NBTY (NTY) fell 5%.
Cooper Tire & Rubber (CTB) fell 14% as sales and profits missed estimates.
Molson Coors Brewing (TAP) fell 2% after third quarter profits fell amid charges.
Final Trade
Najarian recommends shorting MBIA (MBI).
Macke grabs buy tickets for Intel (INTC).
Adami picked Ford Motor (F).
Finerman advises shorting Lehman Brothers Holdings (LEH)

Labels: CCJ, CNBC's Fast Money, CSCO, CY, F, Fast Money AAPL, Fast Money Recap, FMCN, GM, GOOG, GS, HMC, HTZ, INTC, PEG, RIMM, TM, TSO, VLO, YHOO

After the Dow hit an all-time high yesterday, stocks were mixed on the session today. Wall Street cooled off some, with only the Nasdaq holding on to a modest gain among the three major indices. The dollar rebounded against the euro and gained versus the yen, which helped send commodity prices lower including a dip in oil and gold prices. Investors moved cautiously as they weighed the latest reading from the housing sector and sales from the nation's automakers.
In economic news, The National Association of Realtors' pending home sales index fell to a record low of 85.5 from an upwardly revised 91.4 reading in July. The drop was worse than expected by economists, who had predicted a -2% dip from the previous reading. The steep decline breaks the previous low of 89.8, which was set in September 2001, following the terrorist attacks that knocked consumer confidence. The trade group started the index in 2001.
Overall U.S. auto sales were soft in September on mixed reports from General Motors (NYSE: GM - News), which saw its overall sales of cars and light trucks edge up 0.3% in September, and Ford (NYSE: F - News), which saw sales plummet more than -20% for the same month.
On the earnings front, investors are growing increasingly impatient with smartphone pioneer Palm (Nasdaq: PALM - News) following the company's lackluster earnings release delivered after the market close yesterday. Palm announced that it had lost -$841,000, or -1 cent per share, in the first quarter on revenue that increased to $360.8 million. Palm's outlook didn't do much to raise investor confidence as the company is expecting a current quarter loss of -1 cent to -3 cents per share on revenue between $370 million and $380 million. On an adjusted basis, it expects a profit of 6-8 cents per share versus analyst estimates of 11 cents per share on sales of $413.5 million. Shares slumped -3.4%.
Shares of Pepsi Bottling Group (NYSE: PBG - News) reached an all-time high today after the largest bottler for PepsiCo (NYSE: PEP - News) reported a better-than-expected quarterly profit on Tuesday. The company said net income for the third quarter, which ended September 8th, rose 26% to $260 million, or $1.12 per share, from $207 million, or 86 cents per share, a year ago. The company also raised its full-year outlook. The stock rose 2.1%.
The M&A world saw Canada's TD Bank Financial Group (NYSE: TD - News) double its U.S. presence today when it acquired Mid-Atlantic regional bank Commerce Bancorp (NYSE: CBH - News) for $8.5 billion in cash and stock. As a result of the takeover, TD Bank will add nearly 460 branches along the East Coast when the deal closes in the spring of 2008, pending regulatory approval. Terms call for a 75% stock and 25% cash transaction that values Commerce at $42 per share, a 6% premium over the stock's closing price of $39.61 on Monday. Details have Commerce shareholders receiving 0.4142 shares of TD Bank common stock and $10.50 in cash for each share of Commerce owned.
Citigroup (NYSE: C - News) continued to reach into the world's second-largest economy by announcing earlier today that it would complete its acquisition of Japanese brokerage firm Nikko by paying $4.6 billion to buy out the remaining minority shareholders.
By the BullMarket.com Staff

Labels: C, CBH, F, Ford Motor co., General Motors Corp., GM, PALM, Palm Inc., PBG, PEP, Pepsico Inc., TD

Here are 7 stocks for traders for Wednesday from TradingMarkets.com:
RPM (NYSE:RPM - News) reports earnings on Wednesday before the bell, with analysts looking for $0.55 EPS. RPM's PowerRating (for Traders) is 5.
Wolverine (NYSE:WWW - News) should announce $0.53 EPS before the stock market opens on Wednesday morning. WWW's PowerRating (for Traders) is 4.
Immucor (NasdaqGS:BLUD - News) is looking to report $0.22 EPS on Wednesday after the bell. BLUD's PowerRating (for Traders) is 5.
Morgan Stanley (NYSE:MS - News) announced plans to cut 600 jobs related to its home loan division; MS rallied over 3% on the news. MS's PowerRating (for Traders) is 4.
Ford (NYSE:F - News) announced that U.S. sales of light vehicles fell more than 20% in September; F rallied nearly 4% despite the news. Rival General Motors (NYSE:GM - News) managed to record a slight jump in sales, while Toyota (NYSE:TM - News) also posted a decline. F's PowerRating (for Traders) is 6, TM's PowerRating (for Traders) is 4, and GM's PowerRating (for Traders) is 4.

Labels: BLUD, F, Ford Motor co., General Motors Corp., GM, Hot Stocks, Morgan Stanley, MS, RPM, TM, Toyota Motor Corp., WWW

Ford (F): Cramer began Monday's show by recommending investors buy Ford. Thinks that it will profit off the fact that GM broke the unions with its latest negotiations and that it is selling some of its units. Jim then took a couple of phone calls. The first call was about Tata Motors (TTM), which Cramer likes, but he thinks is too expensive. The second caller asked about Toyota (TM). Cramer won't back Toyota because the weak dollar hurts their sales and the Japanese market is the worst in the world.
In the next segment, Cramer continued to talk about investing opportunities related to GM's success against the UAW. He looked off the beaten path and found American Axle and Manufacturing (AXL) since the company makes auto parts, and has a labor contract that ends in the near future.
Cramer then took some more phone calls. He was asked about Garmin (GRMN), which Cramer thinks fell too much, but he will be concerned about it once the Navteq (NVT) and Nokia (NOK) merger is completed next year. Another caller asked about Eaton (ETN), and Cramer said that it’s one of his favorite manufacturing stocks. The next caller asked about CarMax (KMX), and Cramer said that you should think about pulling the trigger in late November to avoid tax-loss selling.
After the lightning round, Cramer talked about a stock that went public this summer without much attention and considers it an overlooked IPO. His pick is Dolan Media (DM), which helps process mortgage defaults.
Mad Mail:
Cramer read emails about NYSE-EuroNext (NYX), which Cramer thinks he "blew it" when he recommended the stock. Boeing (BA): Despite past devastating news, Cramer believes in it. Siemens (SI): Cramer thinks is in great shape and that you should hold onto it.

Labels: AXL, BA, DM, ETN, F, GRMN, Jim Cramer, KMX, Mad Money, Mad MOney Recap, NOK, NVT, NYX, SI, TM, TTM

Charlie Gasparino joined the "Fast Money" crew to discuss his take on the Bear Stearns (BSC) and rumos that Warren Buffett is part of a group of investors considering a 20% stake in BSC. He believes that Bear Stearns is going to be taken private. Guy Adami suggests that it makes no sense at all for Buffett to acquire Bear. According to Adami, Buffet's expertise is in value plays and Bear isn't a value play. Najarian declares that all brokers are back in play and recommends buying Lehman (LEH). Finerman agrees.
An American Icahn
Carl Icahn: Wants to see BEA Systems (BEAS) sold. Motorola (MOT): Bullish on their risk rewards.
GM On The Road Again
General Motors (GM) ended its two-day strike after making a health care agreement with the United Auto Workers. This changes the tune for General Motors, according to Jeff Macke. He advises buying auto parts suppliers like Lear (LEA), Visteon (VC) and BorgWarner (BWA). Adami suggests looking at Ford (F). Najarian prefers Goodyear Tires (GT).
No Deal
Sallie Mae (SLM) made news on Wednesday as a private-equity group pulled out of a deal to buy it for $25.3 billion. Macke: "stick a fork in it." Najarian disagrees and believes the deals are just being re-shifted down. Finerman isn't surprised the deal fell through. One potential deal that has her interest is Genesco (GCO).
Tech Rally
Technology stock leaders are still shining Google (GOOG), Amazon (AMZN), Hewlett Packard (HP), Cisco (CSCO) and Apple (AAPL) with 52 week highs.
Word on the Street
Bed Bath & Beyond (BBBY): Macke advises selling.
Monsanto (MON): Selling at twice its growth rate.
Newmont Mining (NEM): Dropped 6%.
Pops & Drops
Pops: Deere (DE) traded up 3%. Pier One Imports (PIR) popped 11%. China BAK Battery (CBAK) exploded by 46%. Affiliated Managers Group (AMG) traded up 4%.
Drops: Under Armour (UA) fell 6%. Timberland (TBL) dropped 8%.

Final Trade
Macke: recommends selling Bear Stearns (BSC).
Finerman: is positive that BEA Systems (BEAS) is going higher.
Najarian: top pick is Isis Pharmaceuticals (ISIS).
Adami: prefers NYSE Euronext (NYX)

Labels: AAPL, AMZN, BEAS, BSC, BWA, CNBC, CSCO, F, Fast Money, GCO, GM, GOOG, GT, HP, LEA, LEH, MOT, SLM

Equities rose on the day, with all three major market averages solidly in the green. The Dow closed up 100 points, helped by the end of a strike at General Motors (NYSE: GM - News). The Nasdaq, meanwhile, finished up 16 points, while the S&P tacked on 8 points. Oil initially fell after weekly inventories levels unexpectedly rose, but rallied to close up 77 cents to $80.30 a barrel. The price of gold slipped on the day.

In economic news, the Commerce Department reported that demand for durable goods nose-dived in August, with weakness across most categories. Orders fell -4.9% for the month, worse than the -3.5% drop economists were expecting. It was the biggest decline since January, and comes on the heels of a large 6.1% gain in July. Crude oil inventories, meanwhile, unexpectedly rose last week by 1.8 million barrels to 320.6 million barrels. Analysts were expecting inventories to drop by -2 billion barrels.
Topping the headlines today, the United Auto Workers (UAW) and General Motors agreed to a tentative contract early this morning, ending a 2-day strike. As part of the contract, the two sides confirmed that GM would fund a newly created trust that the UAW will run to administer retiree healthcare benefits. For its part, GM will continue to offer some job guarantees. The UAW hopes to strike similar deals with Ford (NYSE: F - News) and Chrysler. Shares of GM spiked 9.4%.
Shares of defense contractors, including Lockheed Martin (NYSE: LM - News), General Dynamics (NYSE: GD - News), and Raytheon (NYSE: RTN - News), hit or flirted with all-times Wednesday. Defense Secretary Robert Gates was meeting with Congress today to request an additional $45 billion to cover military costs in Iraq and Afghanistan. If approved, Gates' request will raise initial 2008 budget-year war projections by nearly a third to $190 billion.
Shares of Vonage (NYSE: VG - News) fell below a $1 after a jury found that it infringed on six patents held by Sprint Nextel (NYSE: S - News). The VoIP company was ordered to pay Sprint $69.5 million in damages. Vonage said it will seek to try to have the Sprint judgment overturned. Earlier this year, Vonage lost a patent infringement case to Verizon (NYSE: VZ - News) for $58 million plus royalties. Today, a court upheld two of the three patent infringement charges in a separate verdict.
In M&A news, Nasdaq (Nasdaq: NDAQ - News) and Borse Dubai raised their bid for Swedish exchange OMX to $4.9 billion, a 15% increase over their previous offer. The exchanges also made agreements with several large shareholders that combined control nearly 19% of OMX to now secure half of OMX's shares. The moves were made in response to The Qatar Investment Authority increasing its stake in OMX, which could indicate it may try to block the deal. Elsewhere, Bear Stearns (NYSE: BSC - News) shares rose 7.7% on rumors that the investment bank is close to selling a minority stake in itself. Among the potential suitors named include a Chinese bank, HSBC Holdings, and Warren Buffett, among others.

By the BullMarket.com Staff

Labels: BSC, F, GD, GM, LM, NDAQ, RTN, S, VG, VZ

Fast Money reviewed the effects the rate cut had on the stock market this past week. Najarian believes the Fed has eased the concerns on Wall Street with the rate cuts. Finerman feels that the fear from the credit scares and hedge fund blow ups has been lifted. Macke thinks inflation fears, which are longer term, replaced the credit fears. Macke recommends getting out of the dollar and spend instead. Macke's picks retailers like Best Buy (BBY), GameStop (GME) and J. Crew (JCG). Dennis Gartman joined the crew to discuss his take on the action in the commodities markets. Gartman declares that if you want to own gold, soybeans, oil and steel, "own all the things that would hurt if you dropped them on your foot." Najarian's Tech Picking: Oracle (ORCL), Intel (INTC), and Apple (AAPL). He also picked Texas Instruments (TXN) and Google (GOOG), after it traded at its record high on Friday.
On Friday news broke that KKR and Goldman pulled out of a deal to buyout Harman (HAR) for $8 billion. Jim Cramer said "we will have many more blowups in the next few weeks like Harman." Finerman: Genesco (GCO). Najirian: United Rentals (URI).
Fall Trade: Media Reporter Julia Boorstin says ABC will benefit most, being controlled by Disney (DIS) and its upcoming fall lineup. She said that ads are moving online and networks are giving away their shows. She recommends General Electric (GE). Adami likes Google (GOOG).
Adami recommends defense stocks and Ford (F) over GM, while Najirian recommends tech stocks like Intel Corporation (INTC) and Texas Instruments (TXN).
Fast Fire:
Finerman: Home Depot (HD)
Macke: General Motors (GM)
Pops & Drops:
Pops: Macke-AT&T (T), Blue Nile (NILE), and Oracle (ORCL), Finerman- NYSE Euronext (NYX) and Estee Lauder (EL), Najirian: Transocean (RIG), Adami: Cisco Systems (CSCO).
Drops: Adami- FedEx (FDX), Brocade Communications (BRCD). Macke- Pool Corporation (POOL).
Final Trade: Finerman- NYSE Euronext (NYX), Najarian- BJ Services (BJS), Macke- General Motors (GM)

Labels: AAPL, BBY, CNBC, F, Fast Money, GME, GOOG, HD, INTC, JCG, Jim Cramer, ORCL, TXN

Fit will weigh options regarding the sale of its credit card business. Management will also evaluate the pace of current and potential future share buybacks. Its credit card portfolio contributed $453 million in revenue for the most recently reported quarter. Shareholder activist Bill Ackman has recently been pressing senior management to sell some assets. Ackman's fund holds a 9.6% stake in the retailer. Subscribers can read our analysis of Target in today's issue.
Shares of General Motors (NYSE: GM - News) and Ford Motor (NYSE: F - News) rose on the session after prospects for concession from the United Auto Workers (UAW) were highlighted by Wall Street. UAW's President said that he was willing to agree in principle to a union-controlled health care trust fund. A deal would cut $95 billion in retire costs for the Big Three auto makers. GM shares rose by 10%, while Ford advanced 5.6%.
In earnings news, French telecom equipment giant Alcatel-Lucent (NYSE: ALU - News) saw its shares get hit after the company cut its financial targets yet again. The company expects to post a breakeven third quarter on an operating basis. It also trimmed its 2007 revenue growth forecast, as it expects revenues to be flat to up slightly at a constant Euro-Dollar exchange rate as wireless customers in North America slowed down purchases.
Drug concern Cephalon (Nasdaq: CEPH - News) dropped 5,2% after it warned doctors about deaths linked to its cancer pain drug Fentura, according to U.S. regulators. According to the FDA's website, three deaths occurred in patients treated with Fentura. Cephalon is one of several drug companies under investigation by Congress for allegedly promoting its drugs for uses not approved by the FDA.
By The BullMarket.com Staff

Labels: ALU, CEPH, CFC, F, GM, MCD, TGT

Equity prices continued their rally from Friday's strong showing as investors more or less banked that the Fed will cut interest rates when they meet on September 18th. Helping fuel the gains were technology and financial related names. At the close, all three major market averages rose on the session, with the tech-heavy Nasdaq leading the way with a gain of 1.30%. The Dow ended with a gain of 92 points, while the S&P 500 added 15.5 points. In the energy sector, oil rose $1.04 to $75.08 as investors worried over increased hurricane activity in the tropics.
On the economic front, manufacturing grew at the slowest pace in more than five years in August as companies reduced orders after borrowing costs rose. The Institute for Supply Managers (ISM) index fell to 52.9 from 53.8 in July. In other economic news, the Commerce Department said that construction spending unexpectedly fell -0.4% in July.
U.S. auto makers reported sales figures for the just completed month of August. Ford Motor (NYSE: F - News) said sales plunged -14% in the month, which marked the 10th straight monthly decline as demand for its cars plummeted -34%. For the month, Ford sold 218,332 vehicles. Analysts were looking for a -12% slide in overall U.S. sales. On the flip side, General Motors (NYSE: GM - News) reported a 5% sales increase in the month as it sold 388,168 vehicles, up from 368,776 in the same period a year ago.
In deal news, Metro PCS Communications (NYSE: PCS - News) proposed to buy rival Leap Wireless International (Nasdaq: LEAP - News) in an all-cash merger valued at $5.5 billion. Under the terms of the proposed deal, PCS wants to exchange 2.75 of its shares for every one share of Leap's, which would represent a premium of just 3% to where the shares traded on Friday. The combined company would create a new national wireless carrier. Leap shares surged 15% on a belief that investors would get a higher offer price. Metro PCS shares rose 5% on the session.
In other news, Starwood Hotels & Resorts (NYSE: HOT - News) hired Frits van Paasschen to become CEO of the hotel operator. Today's hiring ends the five month long search for a new CEO. Paasschen will replace interim CEO Bruce Duncan. Elsewhere in the "E" suite, Sony Ericsson's Miles Flint will step down as President of the company and will be replaced by Hideki Komiyama, who is currently the Chairman of Sony Electronics in the U.S. Komiyama will join Sony Ericsson on November 1st.
Investment research firms were busy upgrading technology related names today, among them was Yahoo (Nasdaq: YHOO - News) whose shares surged 5.5% after Bear Stearns named the company a "top pick." Bear Stearns analyst Robert Peck said the company could be a takeover candidate at significantly higher levels, and sees the stock trading at $30 by the end of the year without a takeover. Subscribers can read our analysis of Yahoo in today's issue.
Also making waves today was Apple (Nasdaq: AAPL - News) after technology research firm ISuppli said Apple's iPhone was the best selling phone in the U.S. in the month of July. ISuppli also expects the company to sell 4.5 million iPhones in 2007, and more than 30 million by 2011. A Piper Jaffray analyst also offered bullish comments, helping the company's shares jump 4.1%.
By The BullMarket.com Staff

Labels: AAPL, F, GM, HOT, LEAP, PCS, YHOO

Stocks Crushed In Broad Sell-Off
1 The Dow and S&P 500 fell 2.3%, their worst losses since the Feb. 27 sell-off that sparked the last market correction. The NYSE composite tumbled 2.8% and the Nasdaq 1.8% as investors fled risk. That was after indexes pared losses in the final hour. Volume spiked up. Only 4 out of IBD's 197 industry groups rose.
Credit Market Fears Intensifying
2 The 10-year Treasury yield sank 12 basis points to 4.78%, the lowest since May as investors reprice risk worldwide. Brazil pulled a regular debt sale and Tyco Electronics a $1.5 high-grade bond sale, both citing market conditions. Bear Stearns seized assets of 1 near-worthless hedge fund. An Aussie hedge fund halted withdrawals from 2 funds on subprime losses.
New-Home Sales Plunge 6.6%
3 June sales fell to an annualized 834,000 units, far below views and just over March's 7-year low. Prices fell and the supply of homes grew. Several builders posted Q2 losses. Also, durable goods orders rose 1.4% in June, a little below views. And orders ex transportation and core capital goods orders fell, a bad sign for the factory and investment recoveries.
Exxon Misses, Shell Profit Rises
4 Exxon Mobil (NYSE:XOM - News), the world's largest publicly traded oil company, said Q2 profit rose 6.4% to $1.83 a share, missing views by 13 cents. Revenue dipped 0.7% to 98.35 bil. Weaker natural gas prices and soft demand in Europe. Rival Royal Dutch Shell said Q2 net profit rose 18% to $8.67 bil. Sales rose 2% to $84.9 bil. Refinery margins helped both firms. Exxon shares fell 5%. Shell lost 2%.
Dems Accuse Gonzales Of Lying
5 Four Dems on the Senate Judiciary Committee claim Att'y Gen'l Alberto Gonzales gave conflicting testimony and asked Solicitor General Paul Clement to launch a perjury probe. Meanwhile, Sen. Patrick Leahy said he'll subpoena Bush aide Karl Rove to testify about his role in the dismissal of 8 federal prosecutors. Bush has rejected similar subpoenas, citing executive privilege.
Comcast's Web Growth Slows
6 The No. 1 U.S. cable TV provider's Q2 profit met views for a 27% gain to 19 cents a share. Comcast's (NasdaqGS:CMCSA - News) revenue rose 31% to $7.7 bil, just ahead of forecasts. Digital video subscribers soared 144%. But basic video subscribers and smaller growth in high-speed Internet disappointed investors. Comcast also didn't raise views. Shares fell 5%.
Envoy: Surge Curbing Iraq Unrest
7 Deploying 30,000 extra troops to Iraq has curbed violence there, U.S. Ambassador Ryan Crocker said. "The surge has done very well," he told the AP. "There's no question." In Baghdad, though, a powerful car bomb killed at least 28 and hurt 95. Meantime, House Dems plan a new effort calling for Bush to pull out troops in 2 months.
ICE Profit Up On Futures Growth
8 The electronic energy market and soft commodity exchange said its Q2 profit rose 63.5% to 85 cents ex items, beating views by 10 cents. Revenue jumped nearly 86% to $136.7 mil, above views. Strong volume growth in its futures business boosted Intercontinental Exchange (NYSE:ICE - News)'s result. ICE shares rose 2% on a bad day for stocks.
Shoemakers Stepped It Up In Q2
9 Crocs' (NasdaqGS:CROX - News) EPS jumped 305% to 58 cents, 14 cents above forecasts. Sales rose 162% to $224 mil. The maker of trendy plastic footwear sees Q3 EPS of 58-62 cents, well over views. Deckers (NasdaqGS:DECK - News), maker of Ugg boots, said profit fell 5% to 20 cents, but that beat views by 9 cents. Sales grew 26% to $52.7 mil, beating views. Deckers also raised guidance. Shares of both firms surged late.
Ford Beats, Swings To Q2 Profit
10 The No. 2 U.S. automaker reported its first profit in 2 years. Ford (NYSE:F - News) swung to Q2 EPS of 13 cents ex items, beating views by 48 cents. Revenue grew 5.5% to $44.2 bil. The company's cost cutting in troubled U.S. operations helped. But the solid results could make it harder for Ford to win concessions with the UAW union in talks that began this week. Ford shares rose 1.5%.
Published By IBD

Labels: CMCSA, CROX, DECK, F, ICE, XOM

Job cuts, slimmer losses in North America and good sales overseas helped Ford Motor Co. post surprise second-quarter earnings Thursday of $750 million, its first profitable quarter in two years.
The company also said the sale of its Jaguar and Land Rover subsidiaries was probable, and it said its U.S. market share rose during the quarter.
Still, President and Chief Executive Alan Mulally said investors should not think that Ford has turned the corner to consistent profitability.
Ford's second-quarter profit of 31 cents per share compares to a net loss of $317 million, or 17 cents per share, in the same quarter of last year.
It surprised 15 Wall Street analysts surveyed by Thomson Financial who expected the company to lose 35 cents per share excluding special items.

Labels: F, Ford Motor co.

Bullish Calls:
Freeport-McMoRan (NYSE: FCX - News): 'A lot of people were shaking today when it was down $4. That was a mistake. The quarter was a thing of beauty. ... I think you should stay in FCX. Copper and gold? We need 'em both.'Celgene (NasdaqGS: CELG - News): 'Buy some Celgene!'Schlumberger (NYSE: SLB - News): 'This company is the best in show. I gotta tell you something. It ain't done. You know what this company is? It's $80 going to $120. ... Get some Schlumberger.'Ford (NYSE: F - News): 'Go buy the Ford preferred. Don't buy the common.'Bank of America (NYSE: BAC - News)Citigroup (NYSE: C - News)Hologic (NasdaqGS: HOLX - News): 'It has to close this deal. Until it closes this deal, you're not going to get the ramp that you want. ... This is going to own women's diagnostics. They're going to own it, and when they do, this stock is going to go up huge.'Dominos Pizza (NYSE: DPZ - News): 'It reported this great quarter. ... Remember, just up $2 almost. I prefer to buy it under $20. Be patient.'Tata Motors (NYSE: TTM - News): 'I'm going to give this only a lukewarm buy up here.'Accenture (NYSE: ACN - News)Trinity Industries (NYSE: TRN - News): ' I like Trinity because I like rails. When you think of rails, you think of a company that makes rail cars. That's Trinity.'Leucadia National (NYSE: LUK - News): 'It's just a couple of guys that run money. They do a good job. ... I'm never going to dis them.'Brookfield Asset Management (NYSE: BAM - News)Nike (NYSE: NKE - News)Caterpillar (NYSE: CAT - News): 'You need to be in Caterpillar.'Terex (NYSE: TEX - News)
Bearish calls:
Human Genome Sciences (NasdaqGM: HGSI - News): 'Don't mess with Human Genome Sciences. Buy some Celgene.'ING (NYSE: ING - News): 'That's a bank I don't really care for.'Spartan Motors (NasdaqGS: SPAR - News): 'This was a great trade. It has since turned into a bad one, and I've gotta tell you, bad ones don't come back. ... I don't want to own this anymore.'Joy Global (NasdaqGS: JOYG - News): 'Too levered to coal. That was a nasty, ugly quarter. I can't sugarcoat it.'Nokia (NYSE: NOK - News): 'Do I like Nokia? Absolutely. Do I think that you're being a hog? Absolutely. You're selling half tomorrow morning, my friend.'
Published By SeekingAlpha

Labels: BAC, BAM, CAT, CELG, DPZ, F, FCX, HGSI, HOLX, Jim Cramer, Lightning Round, LUK, Mad Money, NKE, NOK, SLB, SPAR, TRN, TTM

Here are 7 stocks for traders for Thursday from TradingMarkets.com:
3M (NYSE:MMM - News) is expected to report $1.18 EPS before the bell rings on Thursday morning. MMM's PowerRating is 6.
When Aetna (NYSE:AET - News) announces quarterly earnings on Thursday morning, watch for $0.80 EPS. AET's PowerRating is 5.
Beazer Homes (NYSE:BZH - News) should announce -$0.46 EPS before the market opens on Thursday morning. BZH's PowerRating is 7.
Analysts will be watching for Exxon Mobil (NYSE:XOM - News) to report $1.94 EPS on Thursday. XOM's PowerRating is 5.
Ford (NYSE:F - News) hopes to announce -$0.40 EPS tomorrow morning. F's PowerRating is 5.
Wendy's (NYSE:WEN - News) and XM Satellite (NasdaqGS:XMSR - News) both report on Thursday morning; WEN is looking for $0.33 EPS and XMSR expects -$0.44 EPS. WEN's PowerRating is 6, and XMSR's PowerRating is 5.
PowerRatings (for Traders) are courtesy of TradingMarkets.com

Labels: AET, BZH, F, Hot Stocks, MMM, WEN, XMSR, XOM