Jim Cramer Blog

Here are 7 trading ideas for today. These lists come directly from the TradingMarkets Stock Indicators page and are based upon our latest quantitative research.
Bullish
5+ Consecutive Down Days: These are stocks that have closed down for five or more consecutive days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that close down for five or more days have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Valero Energy (NYSE:VLO - News). VLO's PowerRating (for Traders) is 6.
5+ Consecutive Lower Lows: These are stocks that have made a lower low for five or more consecutive days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that make lower lows for five or more days have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
KLA-Tencor (NasdaqGS:KLAC - News). KLAC's PowerRating (for Traders) is 6.
2-Period RSI Below 2: These are stocks that have a 2-period RSI reading below 2 and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving with a 2-period RSI reading below 2 have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Liberty Global (NasdaqGS:LBTYA - News). LBTYA's PowerRating (for Traders) is 6.
Bearish
Laps Up 5% or More: These are stocks that lap up by 5% or more and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that lap up by more than 5% have shown negative returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Alcatel-Lucent (NYSE:ALU - News). ALU's PowerRating (for Traders) is 2.
5+ Consecutive Up Days: These are stocks that have closed up for five or more consecutive days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that close up for five or more days have shown negative returns, on average, 1-week later. Historically, these stocks have provided traders with a significant edge.
IAC/InterActive (NasdaqGS:IACI - News). IACI's PowerRating (for Traders) is 3.
5+ Consecutive Higher Highs: These are stocks that have made a higher high for five or more consecutive days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that make higher highs for five or more days have shown negative returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Krispy Kreme (NYSE:KKD - News). KKD's PowerRating (for Traders) is 4.
Stocks Up 10% or More: These are stocks that have gained 10% or more over the past five days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that have gained 10% or more over the past five days have shown negative returns, on average, 1-week later. Historically, these stocks have provided traders with a significant edge.
Lions Gate Films (NYSE:LGF - News). LGF's PowerRating (for Traders) is 3.

Labels: Alcatel-Lucent, ALU, Hot Stocks, IACI, KKD, KLAC, LBTYA, LGF, Lions Gate Entertainment Corp., VLO

Olin (NYSE: OLN - News), PPG (NYSE: PPG - News), Applied Materials (NasdaqGS: AMAT - News), KLA-Tencor (NasdaqGS: KLAC - News), Novellus (NasdaqGS: NVLS - News), Motorola (NYSE: MOT - News): Buyouts in the chemical sector have caused prices to rise, and Cramer says it's time to sell OLN and PPG and buy tech stocks. He likes AMAT "up 3 in the blink of an eye," Tencor, which he sees rising another 5 points and NVLS, which made an "incredible" 11% rise despite its disappointing numbers. Even Motorola is coming back after reporting a terrible quarter. "Just take your wallet and just like throw it at the tech stocks!," Cramer said.

Labels: AMAT, Jim Cramer, Jim Cramer's Stop Trading, KLAC, MOT, NVLS, OLN, PPG

Arqule Inc. (NasdaqGM:ARQL - News) shares rose 6.7% Thursday after the company was initiated with a buy rating at WR Hambrecht & Co.
Bon-Ton Stores Inc. (NasdaqGS:BONT - News) shares surged 16% after the York, Pa., retailer reported that February sales tripled and comparable-store sales rose nearly 14.6%. A survey of analysts by Thomson Financial produced a consensus estimate of same-store sales down 2%. Total sales reached $237.6 million from $72.2 million, reflecting $153.4 million from Carson's and Parisian stores acquired in 2006. Carson's sales aren't included in the comparable-store-sales figure. Bon-Ton said that Carson's comparable-store sales for the period increased 7.2%, while the combined Carson's and Bon-Ton comparable sales advanced 9.8%.
California Coastal Communities (NasdaqGM:CALC - News) shares gained 8.7% after the company was upgraded to market outperform from market perform at JMP Securities.
Catalina Marketing (NYSE:POS - News) shares rose 5.5% after the company agreed to be acquired by ValueAct Capital for $1.7 billion, including the assumption of about $135 million in debt. The deal values shares of Catalina, a St. Petersburg, Fla., promotional messaging company, at $32.10 each in cash, compared to the stock's close on Wednesday at $29.85, down 4.1%. The agreement allows Catalina to solicit and entertain alternative acquisition proposals from third parties for the next 45 days. Catalina expects the transaction to close in the next several months.
CSP Inc. (NasdaqGM:CSPI - News) shares gained 15% after the Billerica, Mass.-based IT services provider reported fiscal first-quarter net income of $978,000, or 25 cents a share. In the same quarter last year, the company posted a net loss of $546,000, or 15 cents a share. Revenue rose to $21.1 million from $15.1 million.
Culp Inc. (NYSE:CFI - News) shares rose 5.9% after the company said its third quarter net loss widened slightly to $2.2 million from $2.17 million. The High Point, N.C.-based company's loss per share for the quarter was unchanged at 19 cents a share. Quarterly net sales fell to $55.7 million from $61 million.
Delphi (Other OTC:DPHIQ.PK - News) shares gained 8.8% after the company filed to issue nearly $2 billion worth of common stock to shareholders as a key step toward funding its emergence from bankruptcy. According to a filing with the Securities and Exchange Commission, the auto parts maker is offering current stockholders the right to buy 56,700,000 shares at $35 each.
Fred's Inc. (NasdaqGS:FRED - News) shares rose 6.5% after the company said its February sales at stores open at least one year rose 3.9%. Analysts, on average, had expected its same-store sales to rise 2%, according to Thomson First Call. Total sales for the four weeks ended March 3 rose 8% to $143.9 million.
KLA-Tencor (NasdaqGS:KLAC - News) shares rose 4% after Morgan Stanley upgraded the company to overweight from equal weight and lifted its price target to $65 from $60.
La Jolla Pharmaceutical Co. (NasdaqGM:LJPC - News) shares surged 31% after the company announced positive interim antibody results from its Phase II trial of Riquent, its drug candidate for systemic lupus erythematosus. The results showed a significant dose response when comparing all Riquent-treated patients to placebo-treated patients, the company said. "We are very excited by these results," said Deirdre Gillespie, president and chief executive, in a statement. "The higher the dose, the greater the reduction in antibodies to dsDNA, and the relative magnitude of these reductions is greater than we have seen in previous studies, which used lower doses of Riquent."
Mamma.com (NasdaqCM:MAMA - News) shares gained 19% after the company swung to a fourth-quarter profit on higher revenue as a result of an increase in search advertising revenue, new software licensing contracts and increase in customized development and maintenance support. The Montreal provider of Internet search services said it earned $420,000 or 3 cents a share in the latest quarter versus a loss of $763,000 or 6 cents a year earlier. Revenue rose to $3.6 million from $1.6 million last year.
Men's Wearhouse Inc. (NYSE:MW - News) shares gained 9.4% after the company said it expects first-quarter earnings between 63 cents and 67 cents a share, assuming same-store sales rise 1% to 2% in the U.S. and 5% to 6% in Canada. The Houston-based seller of men's apparel also expects to earnings between $2.80 and $2.91 a share for the fiscal year ending Feb. 2.
New York & Co. (NYSE:NWY - News) shares rose 16% after the company said same-store sales rose 2.7% in February. The average estimate of analysts polled by Thomson Financial was for growth of 2.1% for the month. Total sales for the four weeks ended March 3 increased 8.9% to $87.7 million from $80.6 million in the same period a year earlier.
Nighthawk Radiology Corp. (NasdaqGM:NHWK - News) shares gained 5.1% after the company was upgraded to market perform from underperform at Piper Jaffray.
Nucor Corp. (NYSE:NUE - News) shares rose 5.3% Thursday morning after the second-largest U.S. steel producer forecast strong first-quarter earnings and said shrinking steel stockpiles should support profits for the rest of the year.
Omni Energy Services Corp. (NasdaqGM:OMNI - News) shares leapt 17% after the company said it expects fiscal 2007 revenue of more than $175 million, an 80% increase over last year. Excluding certain tax benefits, the Carencro, La.-based company said it expects net income may rise as much as 70% to more than $17 million. Earnings before interest, taxes, depreciation and amortization could increase more than 60% to exceed $40 million, the company said. Additionally, Omni said it sees slightly improved gross profit margins for the year with the inclusion of a full-year's operations from its rental equipment division.
PriceSmart Inc. (NasdaqGM:PSMT - News) shares jumped 18% after the company said February same-store sales rose 21% over year-earlier levels. Total sales for the month rose 21% to $63.3 million from last year's $52.5 million.
RehabCare (NYSE:RHB - News) shares gained 7.7% after the company reported fourth-quarter earnings of $2.1 million, or 12 cents a share, on revenue of $182.2 million, up from a loss of $31.8 million, or $1.89 a share, in the same period a year earlier, on revenue of $123.4 million.
Resource Capital Corp. (NYSE:RSO - News) shares rose 6.8% after the company reported fourth-quarter earnings of $6.8 million, or 36 cents a share, up from a year-ago profit of $4.9 million, or 32 cents a share. The New York City real estate investment trust estimates that it will pay dividends of between $1.65 and $1.80 per common share.
Seattle Genetics (NasdaqGM:SGEN - News) shares gained 7% after the company was initiated with a buy rating at Caris & Co.
Zumiez Inc. (NasdaqGS:ZUMZ - News) shares climbed 14% after the company said its February sales at stores open at least a year increased 12.4%. Analysts, on average, expected the retailer to post a same-store sales increase of 7.1%, according to a survey by Thomson Financial. Total net sales for the four-week period ended March 3 increased 43.9% to $20.7 million, from $14.4 million for the four-week period ended Feb. 25, 2006.
Published By Michael Baron of MarketWatch

Labels: ARQL, BONT, CALC, CFI, CSPI, FRED, KLAC, LJPC, MAMA, MW, NHWK, NUE, NWY, OMNI, POS, PSMT, RHB, RSO, SGEN, ZUMZ

Wave of mergers has been unable to push stocks higher to start the trading week. A number of multi-billion dollar deals have benefited some individual stocks, but the broader market has stayed close to the flat line Monday. Same-store sales news from Wal-Mart (WMT) and a major order for Boeing (BA) have kept the Dow ($INDU) in the black, but not by much. WMT announced that same-store sales rose 2.2 percent in January, above its prior forecast. The retailing giant didnt go into details, preferring to wait until the official report on Thursday. Nonetheless, WMT shares are up more than one percent on the session. Retailers will be in focus this week as they provide January sales data. The S&P Retail Index ($RLX) is trading slightly in the red in midday action.Boeing shares are up almost one percent Monday as well following a major order from UPS (UPS). BA received an order for 27 Boeing 767-300ER freighters at a list price of $3.9 billion. BA shares have done quite well this past year, up 27 percent. The stock has advanced 12 percent in the past three months alone. In merger news, State Street Corp (STT) has agreed to buy Investors Financial Services (IFIN) for $4.5 billion in stock. IFIN shareholders will receive 0.906 shares of STT for each share of IFIN they own. This values IFIN shares at $65, which is $18 above its closing price on Friday. IFIN shares are up nearly 30 percent on the news. STT shares, as is usually the case, are down more than 5 percent. Other deals include Triad Hospitals (TRI) decision to go private in a deal valued at $6.4 billion. This news has pushed TRI shares up 15 percent on the session. Hanover Compressor (HC) and Universal Compressor (UCO) agreed to merge in a deal valued at $3.8 billion. Both stocks are up sharply on the news at 16 percent and 13 percent respectively.The chip sector has been a story Monday on a downgrade of Micron (MU) and earnings news from KLA-Tencor (KLAC). MU was downgraded to Hold from Buy at Jefferies & Company with the broker not liking the state of deteriorating memory prices. MU shares are down about one percent. KLAC shares are up three percent Monday despite announcing earnings that fell short of expectations. The company has restated past financial dealing with stock option grants and now believes it is not at risk of delisting on the Nasdaq. Overall, the Philly Semiconductor Index ($SOX) is up only slightly on the session.
By Jody Osborne

Labels: BA, HC, IFIN, KLAC, MU, RLX, STT, TRI, UCO, UPS, WMT

Agilysis Inc. (NasdaqGS:AGYS - News) said third-quarter earnings rose 32%, boosted by higher sales of server and storage hardware and software. The Boca Raton, Fla., computer-technology company reported third-quarter earnings of $20 million, or 64 cents a share, up from $15.2 million, or 49 cents a share, a year earlier.
Amkor Technology (NasdaqGS:AMKR - News) was upgraded to buy from neutral at American Technology Research.
Argonaut Group Inc. (NasdaqGS:AGII - News) reported fourth-quarter earnings of $31.4 million, or 92 cents a share, up from a year-ago profit of $25.4 million, or 76 cents a share. Total revenue rose 14.5% at the San Antonio specialty insurer in the three-month period to $243.1 million from $212.4 million in the same period a year earlier.
Asyst Technologies Inc. (NasdaqGM:ASYT - News) was upgraded to buy from neutral at American Technology Research.
Barnes & Noble (NYSE:BKS - News) was upgraded to overweight from neutral at Prudential Equity Group. The firm said the launch of the final Harry Potter book could be a catalyst to improve lackluster sales. "In addition, for each of the last three Harry Potter books, Barnes & Noble shares have performed nicely in the six months leading up to the release date," Prudential said. The broker added that, like other retailers, Barnes & Noble is offering steep discounts on the book, which is due to be released on July 21. "It seems fair to say, with these massive discounts, that none of these retailers will make any money on the book itself. Historically, however, the release has driven significant traffic into the bookstores," it said.
B/E Aerospace (NasdaqGS:BEAV - News) said its fourth-quarter net income fell to $21.7 million, or 28 cents a share, from $62.1 million, or 96 cents a share, in the year-earlier period. Analysts polled by Thomson Financial forecast earnings, on average, of 26 cents a share and sales of $299.1 million. The Wellington, Fla., maker of airplane seats and interiors said its sales in the three months ended Dec. 31 rose 44% to $321.6 million from $222.9 million. B/E Aerospace forecast 2007 earnings of $1.40 to $1.42 a share and sales of $1.4 billion. Its 2008 forecast is for $2 a share in earnings and its 2009 profit is forecast to grow 25%.
Cognizant Technology Solutions Corp. (NasdaqGS:CTSH - News) said fourth-quarter net income rose 21% to $69.5 million, or 46 cents a share, from $57.7 million, or 39 cents a share, a year ago. Excluding stock-based compensation expenses, the provider of information-technology services said Monday it earned 50 cents a share in the latest fourth quarter. Fourth-quarter revenue rose 65% to $424.4 million from $256.9 million. Analysts surveyed by Thomson Financial, on average, expected the Teaneck, N.J., company to earn 43 cents a share on revenue of $405.5 million for the latest fourth quarter.
Crocs Inc. (NasdaqGS:CROX - News) was upgraded to outperform from neutral at Robert W. Baird.
Deckers Outdoor (NasdaqGS:DECK - News) was upgraded to outperform from market perform at Piper Jaffray. The firm lifted its price target on the stock to $65 from $54.
Shares of Dell Inc. (NasdaqGS:DELL - News) rose after Credit Suisse upgraded the PC maker to outperform from neutral. Analyst Robert Semple said the upgrade was based on the belief that Dell will augment its technology with acquisitions, reduce its cost structure and possibly revise its distribution philosophy for certain products. Semple also thinks the company's core U.S. corporate market has bottomed out, and that the reward vs. risk profile in the shares is positive. He raised his stock price target to $28 from $25.
Hanover Compressor Co. (NYSE:HC - News) and Universal Compression Holdings Inc. (NYSE:UCO - News) said their boards have approved a merger that will create a combined company with a market capitalization of $3.8 billion. Under the terms of the deal, Hanover shareholders will receive 0.325 shares of the new company for each share they own, while Universal stockholders will receive 1 share for each of their shares. The companies said they anticipate that Hanover stockholders will initially own 53% of the new company. The companies added that the deal is expected to boost earnings for stockholders of both companies in 2008 and will achieve annualized pre-tax cost savings of around $50 million.
Hercules Offshore (NasdaqGS:HERO - News) said it returned to a fourth-quarter profit after not having tax expenses related to its initial public offering and on international demand for jackup rigs and liftboats. Fourth-quarter net income totaled $35.5 million, or $1.09 a share, while revenue rose to $114.7 million from $48.0 million.
Hewitt Associates Inc. (NYSE:HEW - News) reported fiscal first-quarter earnings of $30.1 million, or 27 cents a share, down from a year-ago profit of $31.5 million, or 29 cents a share. The latest results included a pre-tax severance charge of $16 million and $6 million in higher compensation expense, according to the Lincolnshire, Ill., provider of human resources outsourcing and consulting services. Reported net revenue rose 4% in the latest three months to $726.6 million from $701 million a year earlier. The average estimate of analysts polled by Thomson First Call was for a profit of 24 cents a share in the December period on revenue of $701 million. The company's board has approved the buyback of up to $750 million worth of its outstanding common shares over the next 24 months.
Hewlett-Packard Co. (NYSE:HPQ - News) said it plans to withdraw the listing of its stock from the Nasdaq Global Select Market to reduce costs of exchange listing fees and administrative burdens related to being listed in two exchanges. The Dow component also agreed to acquire Bristol Technnology, a private company that provides technology to monitor business transactions.
Humana Inc. (NYSE:HUM - News) said its fourth-quarter net profit more than doubled to $155 million, or 92 cents a share, from $61.8 million, or 37 cents a share. Revenue for the period rose 53.6% to $5.46 billion, helped by strong growth in Medicare membership. Analysts at Thomson Financial had forecast earnings of 88 cents a share on revenue of $5.74 billion. The firm also raised its earnings guidance for 2007 to a range of $4.00 to $4.20 a share, from its previous forecast of $3.90 to $4.10 a share.
Kindred Healthcare (NYSE:KND - News) was upgraded to buy from hold at Stifel Nicolaus.
KLA-Tencor Corp. (NasdaqGS:KLAC - News) reported fiscal second-quarter earnings of $90 million, or 44 cents a share, up from a year-ago profit of $76.6 million, or 38 cents a share. The latest results include pre-tax charges totaling $117 million from asset write-downs, acquisitions, net stock-based compensation and restatement activities. Revenue rose in the latest three months to $649.3 million from $487.7 million in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was for a profit of 71 cents a share in the December period on revenue of $663.1 million.
Kulicke & Soffa Industries (NasdaqGM:KLIC - News) was upgraded to buy from neutral at American Technology Research.
Lear Corp. (NYSE:LEA - News) shares rallied after the automotive parts supplier said billionaire financier and top shareholder Carl Icahn has made an offer to buy all of the company's outstanding stock. The $36-a-share offer from Icahn represents a 3.8% premium over the stock's Friday closing price.
Published By MarketWatch

Labels: AGII, AGYS, AMKR, ASYT, BEAV, BKS, CROX, CTSH, DECK, DELL, HC, HERO, HEW, HPQ, HUM, KLAC, KLIC, KND, LEA, UCO

Among the companies whose shares are expected to see active trade in Monday's session are Anadarko Petroleum Corp., Herbalife Ltd. and Hewitt Associates Inc.
Anadarko (NYSE:APC - News) is expected to report earnings per share of $1.26 for the fourth quarter, according to analysts polled by Thomson Financial.
Cognizant Technology Solutions (NasdaqGS:CTSH - News) is expected to post fourth-quarter per-share earnings of 43 cents.
Hewitt Associates (NYSE:HEW - News) is expected to report first-quarter earnings of 24 cents per share.
Humana Inc. (NYSE:HUM - News) is expected to report earnings of 88 cents per share for the fourth quarter.
KLA-Tencor Corp. (NasdaqGS:KLAC - News) is expected to post fourth-quarter per-share income of 61 cents.
Overstock.com Inc. (NasdaqGM:OSTK - News) is expected to report a per-share loss of 85 cents for the fourth quarter.
Pitney Bowes Inc. (NYSE:PBI - News) is expected to post fourth-quarter earnings of 77 cents per share.
Principal Financial Group Inc. (NYSE:PFG - News) is expected to report income of 88 cents per share for the fourth quarter.
Rent-A-Center Inc. (NasdaqGS:RCII - News) is expected to report fourth-quarter earnings of 50 cents per share.
Royal Caribbean Cruises Ltd. (NYSE:RCL - News) is expected to post income per share of 20 cents for the fourth quarter.
After Friday's closing bell, Herbalife (NYSE:HLF - News) said it has received an acquisition offer of $38 a share from Whitney V L.P. and its affiliates. The offer represents a 14.8% premium to the Herbalife's closing share price Friday of $33.10. Watch listBisys Group Inc. (NYSE:BSG - News) filed its Form 10-Q for the period ended Sept. 30, 2006, and reported net income of $14 million, compared with $13.4 million during the year-ago period. Revenue for the first fiscal quarter of 2007 was $211.5 million vs. $205.7 million.
E.On AG (NYSE:EON - News) raised its offer for Spanish Endesa S.A. to 38.75 euros a share ($50.22) from 34.5 euros a share. The final bid values all of Endesa's shares at 41 billion euros.
Hewlett-Packard Co. (NYSE:HPQ - News) said it plans to withdraw the listing of its stock from the Nasdaq Global Select Market to reduce costs of exchange listing fees and administrative burdens related to being listed in two exchanges.
Majesco Entertainment Co. (NasdaqCM:COOL - News) said its financial statements for the fiscal year ended Oct. 31, 2006 contain a going concern modification. According to a Jan. 29 filing, the company's auditors have issued an opinion indicating that there is substantial doubt about the company's ability to continue as a going concern because Majesco has incurred net losses for the years ended Oct. 31, 2005 and 2006.
Mediacom Communications Corp. (NasdaqGS:MCCC - News) said it has reached a retransmission consent agreement with Sinclair Broadcast Group Inc. (NasdaqGS:SBGI - News). Mediacom added that stations will be immediately restored on the Mediacom cable systems in 12 states.
Overstock.com Inc. said it has filed a lawsuit in the Superior Court of California, County of San Francisco seeking damages of $3.48 billion against a group of companies it says control over 80% of the prime brokerage market.
Unitrin Inc. (NYSE:UTR - News) reported fourth-quarter net earnings of $61.6 million, or 91 cents a share, down 29% from $86.7 million, or $1.26 a share, in the year-ago period. Revenue at the Chicago-based financial services company rose to $763.9 million from $755.9 million.
Published by MarketWatch

Labels: APC, BSG, COOL, CTSH, EON, HEW, HLF, Hot Stocks, HPQ, HUM, KLAC, MCCC, OSTK, PBI, PFG, RCII, RCL, SBGI, UTR

A slug of disappointments in technology caused a rotation from “the rotation.” Elsewhere though, strength in the energy complex and less lofty expectations helped keep the schnitzeling to a minimum and the bull at large still hanging in there. For the four-day period, the S&P500 ($SPX) and NASDAQ Composite ($COMPQ) are showing very mixed results from a virtually unchanged decliner of just -.02%, to a much larger -2.06% bit of expired bull.The past week brought home the fact that the market is indeed made up of individual stocks. Large-cap tech—an area of late that’s seen a heavy rotation by institutional money in search of a new home—took the path less traveled. The quick workout on heavyweight tech contenders started off with a sales warning from security software powerhouse Symantec (SYMC), an influential downgrade of key players in the semis (SMH, KLAC, LRCX, NVLS), and two brokers chiming in with reductions to “neutral” on networking giant Cisco (CSCO). A narrowing of gross margins and lackluster guidance by Intel (INTC) didn’t help matters for tech bulls, nor did Apple’s (AAPL) earnings disappointment Wednesday evening. The current crown jewel beat bottom line estimates by 36 cents. However, guidance was reduced by management and shipments of the ever-popular iPod and Mac products were seen as being at the low end of expectations. In Friday’s session, reduced margins resulting in a ‘light’ penny beat at Big Blue (IBM) didn’t compute for bulls. In each case, the individual issues experienced what many might call an inflated disappointment, with investors simply looking to focus on the worst that each report had to offer. With all of the aforementioned being at or near 52-week highs, or better, and Wall Street having made an ‘all in’ move into the group of late, some might also call the action deserved. Black Gold (USO) pushed lower and hit below $50 a barrel for the first time in more than two years. On the week, the futures contract finished down a point at 51.99. Interestingly enough, the ‘profit-engine’ of the energy complex (XLE, OIH) managed to find a bid for the four-day period after its own severe slide. Value hunters and shorts covering were helped along in Friday’s trade by Schlumberger’s (SLB) better-than-expected earnings and a group whose bearish consensus outlook is fertile ground for contra trend reactions. The broader market as represented by the S&P500 can certainly thank the influence that the energy complex carries with it, in keeping profit-taking to a bare minimum. Lowered expectations of earnings (outside of technology) has also helped somewhat. Reactions on the week were generally mixed and the reports themselves didn’t offer up any type of unified and strong guidance for investors. However, Wall Street was able to keep the pains felt in tech names an isolated condition. That might be seen as a small victory for bulls. Names offering up decent results this past week include Wells Fargo (WFC), Harley (HOG), Johnson Controls (JCI) and Capital One (COF). Economic data this past week continued to hint at a slightly stronger economy than expected—focused on inflation pressures, but not reacting to the news either way. Better-than-expected reports on housing starts, industrial production and regional manufacturing reflected underlying growth. Also, weakening trends in energy and commodity prices helped keep price concerns muted and the bulls somewhat supportive of market prices. Other data however, hindered any further rally attempts. A tighter-than-expected labor market via the weekly claims report [sub 300K second week] is keeping the theme of wage-based inflation on traders’ minds. Further, neither the CPI nor PPI releases were able to show any type of clear moderation in prices of yet. With a year-over-year reading of the core CPI at 2.6%, that figure remains elevated, but not significant enough to warrant the Fed to shift policy. All said and done, with the widely followed 10-Year unchanged on the week at 4.77% and the S&P500 virtually unchanged, traders’ will have plenty of fresh catalysts this week to inspire. ON TAP THIS WEEKHeading into the week, potential market catalysts are riding heavily on 4th quarter earnings reports. This week will be the first of the season offering a full five days of corporate results and a calendar filled with promise from the likes of Texas Instruments (TXN), Bank of America (BAC), Yahoo (YHOO), Occidental (OXY), Amgen (AMGN), Caterpillar (CAT), Ford (F) and Johnson & Johnson (JNJ). Thus far, Reuter’s estimates that fourth quarter operational earnings for the S&P500 are on track for an increase of 9.3%. That’s roughly in-line with analysts estimates seen heading into the season, but more than 85% of S&P500 companies are still on tap to report. Further, an in-line Q4 after thirteen periods of double digit growth and a market at multi-year highs doesn’t sound like the basis for bullish behavior in 2007. MondayEconomic: Leading Indicators (.2%)Earnings: Pfizer (PFE), Eaton (ETN), A.O. Smith (AOS), Lee (LEE), Sify (SIFY), Plantronics (PLT), Texas Instruments (TXN), CSX (CSX)TuesdayEconomic: NAEarnings: Bank of America (BAC), EMC (EMC), Jacobs (JEC), J & J (JNJ), Precision Cast (PCP), Rediff (REDF), UAL (UAUA), Advanced Micro (AMD), Citrix (CTXS), Centex (CTX), QLogic (QLGC), Steel Dynamics (STLD), Supertex (SUPX), Yahoo (YHOO), Seagate (STX), RFMicro (RFMD)WednesdayEconomic: Weekly CrudeEarnings: Alleghany (ATI), Conoco (COP), Corning (GLW), General Dynamics (GD), Piper Jaffray (PJC), Waters (WAT), eBay (EBAY), F5 Net (FFIV), Netflix (NFLX), Novellus (NVLS), Qualcomm (QCOM), Rambus (RMBS), Symantec (SYMC), Varian Med (VAR)ThursdayEconomic: Weekly Claims (310K), Existing Home Sales (6.30M)Earnings: Applied Bio (ABI), AT&T (T), BJ Srvc (BJS), Dow Chem (DOW), Ford (F), Imclone (IMCL), Legg Mason (LM), Potash (POT), Occidental (OXY), Nokia (NOK), Quest Diag (DGX), SunPower (SPWR), Union P (UNP), Peabody (BTU), Amgen (AMGN), Harman (HAR), Bebe (BEBE), Columbia (COLM), MEMC (WFR), Microsoft (MSFT), Stryker (SYK), Tempur-Pedic, (TPX), VistaPrint (VPRT), Western Digital (WDC)FridayEconomic: Durable Orders (3.5%), New Home Sales (1.05M)Earnings: Carpenter Tech (CRS), Caterpillar (CAT), Fortune Brands (FO), Halliburton (HAL), Honeywell (HON), T. Rowe (TROW), CDW Corp (CDWC), FPL Group (FPL)
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Labels: AAPL, AMGN, BAC, COF, CSCO, HOG, IBM, INTC, JCI, KLAC, LRCX, NVLS, OXY, SLB, SMH, SYMC, TXN, USO, WFC, YHOO

Major market indices see mixed results Tuesday to start a busy week of economic and earnings news. The Dow ($INDU) closed with an advance of 26.51 points to 12,582.59. The S&P 500 ($SPX) added 1.17 points to 1,431.90. The NASDAQ ($COMPQ) experienced a loss of 5.04 points to close at 2,497.78. Volume was solid with the NYSE trading 1.51 billion shares and the Naz turning over 2.18 billion shares. Market breadth was flat on the Big Board and negative on the Naz by a 14-to-16 margin.Though the Dow was able to close at another record high, tech stocks fell on a disappointing earnings announcement from Symantec (SYMC) and downgrades of several key tech stocks. Shares of SYMC fell 13.1 percent on the session after the security software maker warned that both fiscal Q3 and Q4 earnings would fall short of estimates. Last week, Advanced Micro Device (AMD) and this led to a sharp decline for AMD shares as well.Shares of Cisco (CSCO) fell 3.0 percent Tuesday after being downgraded at both Banc of America and Prudential. Novellus (NVLS) and KLA-Tencor (KLAC) were also downgrade this morning, leaving these two stocks down 1.53 percent and 2.80 percent respectively. The Philly Semiconductor Index ($SOX), which both NVLS and KLAC are part of, fell 1.23 percent. Chip giant Intel (INTC) rose 0.77 percent Tuesday ahead of its earnings report after the bell. However, despite beating earnings and revenue expectations, INTC shares are down three percent in after-hours trading. The company stated, much like AMD, that a price war to garner market share did hurt overall results, which saw profits fall to $1.5 billion from $2.45 billion in the year ago period. Oil prices continued to be in the spotlight Tuesday with crude falling to a 20-month low of $50.55 intraday and closing at $51.21. Saudi Arabia Oil Minister Ali al-Naimi told reporters at a conference in India that OPEC did not need to hold a special meeting to cut output again. Mr. al-Naimi believes that the oil market is in much better condition than it was back in October. There is a cut that was announced in December that is supposed to cut another 500,000 barrels a day starting in February. However, there is a lot of debate whether OPEC has much control over the member nations and this has kept oil prices to the downside. There also was some concern today after the release of the Empire State Index. This index measures manufacturing activity in the New York area. However, after hitting a level above 20 last month, this index fell below 10 in a surprise move. This keeps economists concerned about the strength of the economy, although most analysts believe the weak manufacturing sector will not push the economy into a recession or create a hard landing.
Jody Osborne

Labels: AMD, CSCO, INTC, KLAC, NVLS, SOX, SYMC

Acuate Corp. (NASDAQ:ACTU - News) was downgraded to market perform from market outperform. The firm cited expectations for transitional issues as the company moves toward an open source model.
Cardica Inc. (NASDAQ:CRDC - News) said in a regulatory filing that it is initiating a voluntary recall of 55 units of its C-Port xA blood vessel connection system used in heart bypass operations after internal testing showed a manufacturing defect. The Redwood City, Calif., company said the recall will hurt the company's revenue for the quarters ended March 31, 2007, and Dec. 31, 2006, but did not specify by how much.
Centex Corp. (NYSE:CTX - News) said it expects to swing to a third-quarter loss from continuing operations of $2.00 per share, from a profit of $2.52 a share a year ago. The company said it will record land valuation adjustments of around $300 million due to the declining housing market. It has also decided not to exercise land option contracts on 37,000 lots, which will result in walk-away costs of around $150 million. Centex plans to increase its provision for taxes by around $60 million in connection with its ongoing federal tax audit. Excluding these costs, Centex expects adjusted earnings for the quarter of 75 cents a share. Analysts polled by Thomson First Call were expecting earnings of 81 cents a share. For the quarter, Centex said home closings fell 12% to 8,360 and net orders fell 24% to 6,139.
Cisco Systems Inc. (NASDAQ:CSCO - News) was downgraded to neutral from buy at Banc of America Sec., due primarily to valuation. Analyst Tim Long said he believes the networker's business is "as good as it gets," and therefore sees limited upside to the shares. In addition, Prudential Equity Group lowered its rating on the networking giant's stock to neutral weight.
Commerce Bancorp (NYSE:CBH - News) shares fell after the bank said it's been advised that an investigation is being conducted by the Office of the Comptroller of the Currency, in conjunction with the Board of Governors of the Federal Reserve System. "Commerce has further been advised that the scope of the investigation will include but not be limited to transactions with its officers, directors and related parties, including transactions involving bank premises," the company said. "Commerce is fully cooperating with the OCC and the Federal Reserve with respect to the investigation." The company also reported its fourth-quarter results, saying net income jumped 68% to $78.7 million, or 40 cents a share.
Edge Petroleum Corp. (NASDAQ:EPEX - News) said it plans to sell 9.2 million common shares. The deal includes an over-allotment option for the sale of an additional 1.38 million common shares. Houston-based Edge also plans to concurrently offer 2 million shares of Series A cumulative preferred stock. The company anticipates it will use the proceeds to finance its pending acquisition of certain properties from Smith Production Inc. and to refinance its existing revolving credit facility.
Freeport-McMoran Copper & Gold (NYSE:FCX - News) reported fourth-quarter earnings of $441.6 million, or $1.99 per share, down from a year-ago profit of $478.3 million, or $2.19 a share. Revenue rose in the latest three months to $1.64 billion from $1.49 billion in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was for a profit of $2.12 a share on revenue of $1.72 billion. Looking ahead, Freeport-McMoran said it expects to close in merger agreement with Phelps Dodge in early March. It anticipates sales for the first quarter will be "the highest of the year" with about 400 million pounds of copper and 850,000 ounces of gold.
Goodrich Petroleum Corp. (NYSE:GDP - News) definitively agreed to sell substantially all its assets in south Louisiana for $100 million, effective as of July 1, 2006. The deal is subject to conditions including a due-diligence financial review by the buyer, which a news release identified as a private purchaser. The purchase price will be adjusted for cash flow to the closing date, which Goodrich estimated as Feb. 27, 2007. Goodrich said the deal enables it to focus on developing its Cotton Valley trend acreage and to reduce operating costs.
Headwaters Inc. (NYSE:HW - News) said it plans to sell $125 million worth of convertible senior subordinated notes due 2014 through a private placement. The deal includes an over-allotment option for the sale of an additional $25 million worth of notes.
Indymac (NYSE:NDE - News) said it expects fourth-quarter net income of 97 cents a share, lower than its earlier forecast of $1.30-$1.40 a share. Analysts surveyed by Thomson First Call forecast earnings of $1.34 a share, on average, for the period. "This shortfall reflects the challenging times being faced by the mortgage and housing industries and the difficult nature of forecasting earnings in our business," the Pasadena, Calif., financial services company said.
Intel (NASDAQ:INTC - News) shares were lower ahead of the Dow component's quarterly report, which is due after the closing bell. The current average estimate of analysts polled by Thomson First Call is for a profit of 25 cents a share on revenue of $9.44 billion.
KLA-Tencor (NASDAQ:KLAC - News) was downgraded to hold from buy at Deutsche Bank.
Lam Research (NASDAQ:LRCX - News) was downgraded to hold from buy at Deutsche Bank.
Lamson & Sessions (NYSE:LMS - News) took down its profit outlook due to a slump in the price of PVC pipe due at least in part to a weaker-than-expected residential construction. The company now sees earnings of $2.42 to $2.43 a share for 2006. "This segment's operating loss is due to an industry-wide inventory reduction in the fourth quarter following a mild hurricane season along with lower energy costs," the company said. That meant "an accelerated decline in selling prices that outpaced a decrease in raw material costs. In addition, the residential construction market was much weaker than expected." Previously, the company had been expecting to earn $2.50 to $2.53 a share for the year but, Lamson noted, even the lower number is still a record. On the top line, its still expects to bring in sales of $560 million to $561 million.
Marchex (NASDAQ:MCHX - News) was downgraded to market perform from market outperform at JMP Securities. The firm cited a deceleration of the company's direct navigation business.
Medicines Co. (NASDAQ:MDCO - News) plans to sell six million shares of its common stock. The company also intends to grant the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock. Bear Stearns and Merrill Lynch are acting as joint book-running managers for the offering. The company was also downgraded to reduce at UBS.
Mesabi Trust (NYSE:MSB - News) declared a distribution of 31.5 cents per beneficial unit late Friday, payable on Feb. 20 to shareholders of record on Jan. 30. The company's distribution was 47 cents per unit for the same period a year earlier, a decline Mesabi attributed to significantly lower shipments of iron ore pellets in the calendar fourth quarter of 2006.
Novellus Systems (NASDAQ:NVLS - News) was downgraded to sell from hold at Deutsche Bank.
Sterling Construction Co. (NASDAQ:STRL - News) forecast earnings of $13.4 million to $15 million, or $1.13 to $1.26 per share, for fiscal 2007 on revenue of between $285 million and $310 million. The current average estimate of analysts polled by Thomson First Call is for a profit of $1.30 a share for the year on revenue of $300.9 million. Also, as of Dec. 31, the company's backlog stood at about $395 million, up 29% from year-ago levels. Shares of the Houston-based civil construction company closed Friday at $20, down 2.4%.
Symantec Corp. (NASDAQ:SYMC - News) said it was lowering its third-quarter earnings and revenue forecast, citing a weaker-than-anticipated performance by its data center management business and higher deferrals than expected as a result of a greater proportion of enterprise maintenance contracts. The Cupertino, Calif. security software company cut its earnings estimate to 10 to 11 cents a share from 14 to 15 cents a share and his revenue forecast to $1.29 billion to $1.31 billion from $1.315 billion from $1.149 billion. Excluding non-recurring items, the company lowered its earnings estimate to 24 to 25 cents a share from 29 to 30 cents, and its revenue projection to $1.30 billion to $1.32 billion from $1.325 billion to $1.355 billion. For the fiscal fourth-quarter, the company expects adjusted earnings of 18 to 20 cents a share, below the average analyst estimate compiled by Thomson First Call of 32 cents.

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Affymetrix (NASDAQ:AFFX - News) forecast revenue of about $100 million for the fourth quarter. The current average estimate of analysts polled by Thomson First Call is for revenue of $99.5 million in the December period. The Santa Clara, Calif., biotechnology company plans to release its results for the fourth quarter and full year after the closing bell on Feb. 7.
Build-A-Bear Workshop Inc. (NYSE:BBW - News) said President and Chief Operating Officer Barry Erdos is resigning. The company named Scott Seay to succeed him.
Cray (NASDAQ:CRAY - News) received an order to provide two supercomputers for the U.S. Army Corps of Engineers. Financial terms weren't disclosed.
Cubist Pharmaceuticals (NASDAQ:CBST - News) reported fourth-quarter U.S. revenue of $56.2 million for its antibiotic product Cubicin, up 54% from the same quarter last year. Full-year 2006 U.S. Cubicin revenue came in at $189.5 million, the Lexington, Mass.-based company said. Cubist shares rose 2.4% to $17.80 in Monday afternoon trade.
DST Systems (NYSE:DST - News) was upgraded to overweight from underweight at Morgan Stanley. The firm said it sees potential for a strong fourth quarter from the company and set a price target of $74.
EMC Corp. (NYSE:EMC - News) was upgraded to buy from neutral at UBS. The firm boosted its price target on the stock to $16 from $13.50.
General Dynamics (NYSE:GD - News) was upgraded to outperform from neutral at Cowen & Co.
Hauppage Digital (NASDAQ:HAUP - News) shares rose after the company unveiled a line of four TV tuner products designed to support Microsoft's Vista Media Center.
Houston Exploration (NYSE:THX - News) agreed to be acquired by Forest Oil (NYSE:FST - News) for $52.47 a share. That's 8% above Friday's closing price but below the $62 a share that a hedge fund offered Houston Exploration last summer.
Human Genome Sciences (NASDAQ:HGSI - News) said it expects 2006 results to be in line with prior forecasts, including net cash burn of less than $125 million. The Rockville, Md.-based drug development company said it has completed its facilities consolidation program and expects to record a non-cash charge to the fourth quarter of 2006. For 2007, it expects net cash burn to be in the range of $145 million to $165 million. Revenue is expected to increase by about 50% from 2006 to 2007, but total expenses, research and development expenses and general and administrative expenses are expected to remain about flat from 2006 to 2007. Human Genome said it expects cash and investments at year-end 2007 to total in the range of $560 million to $580 million.
IBM (NYSE:IBM - News) was upgraded to buy from neutral at UBS. The firm cited improving fundamentals in its core businesses and the belief that acquisitions in the software market will expand growth rates and margin expansion. Analyst Benjamin Reitzes also raised his stock price target for the Dow component to $118 from $100, his 2007 earnings estimate to $6.70 a share from $6.62 and his 2008 forecast to $7.40 a share from $7.25. "After having underperformed over the last several years as it rebalanced its portfolio and restructured, we believe IBM is embarking on a multi-year cycle leverage acquisitions and cost cutting," Reitzes said in a research note. "We also think IBM can leverage trends in information technology spending as corporations need software, hardware and consulting services to help manage an explosion in content."
Incyte Pharmaceuticals (NASDAQ:INCY - News) was upgraded to outperform from market perform at Piper Jaffray. The firm also lifted its price target on the stock to $8 from $4.
IntraLase Corp. (NASDAQ:ILSE - News) agreed to be acquired for $25 a share, or $808 million, by Advanced Medical Optics Inc. (NYSE:EYE - News) That's 12.5% over IntraLase's closing price on Friday.
Nautilus Inc. (NYSE:NLS - News) formed a partnership with the National Academy of Sports Medicine. The deal calls for Nautilus to provide research and training support for new fitness products. Financial terms weren't disclosed. In addition, the company was upgraded to neutral from sell at Merriman Curhan Ford & Co.
NCR Corp. (NYSE:NCR - News) unveiled plans to separate into two independent publicly-traded companies through a spin-off of its Teradata Data Warehousing business to shareholders. The company expects the transaction, which it anticipates will be tax-free, to be completed within six to nine months. NCR said Bill Nuti, its current president and chief executive officer, will serve in the same capacity following the spin-off, and that Mike Koehler will be president and CEO of Teradata. Koehler is currently senior vice president of the Teradata operations.
Network Appliance (NASDAQ:NTAP - News) was upgraded to buy from neutral at UBS. The firm also lifted its price target on the stock to $47 from $43.
Omnivision Technologies (NASDAQ:OVTI - News) was upgraded to buy from neutral at American Technology Research.
ON Semiconductor (NASDAQ:ONNN - News) was upgraded to overweight from equal weight at Lehman Bros. on valuation.
Quebecor World Inc. (NYSE:IQW - News) plans to close its L'Eclaireur facility in Beauceville, Quebec, impacting about 155 employee positions. The closure is part of the company's plan to consolidate its Quebec-based magazine and catalog printing operations. Quebecor World said it continues to employ about 2,000 employees at seven facilities in Quebec
Quigley Corp. (NASDAQ:QGLY - News) shares advanced after its Quigley Pharma subsidiary said a preliminary study has demonstrated its QR-441(a) compound to be a potential antiviral agent in reducing infectious bronchitis and New Castle disease, two viral poultry diseases. The Doylestown, Pa.-based company said QR-441(a) showed positive results in a study evaluating the compound in embryonating egg and VERO E6 cell test models.
RadioShack Corp. (NYSE:RSH - News) said fourth-quarter net income will rise from the $51 million the consumer electronics retailer earned in the year-ago quarter, but same-store sales will drop.
Rite Aid (NYSE:RAD - News) shares gained after the company said both Institutional Shareholder Services and Glass Lewis & Co., two proxy advisor firms, have recommended Rite Aid shareholders vote in favor of plans to issue 250 million common shares to The Jean Cotu Group as part of the purchase of the Brooks and Eckerd drugstore chains. Shareholders are scheduled to vote on the proposal in a special meeting on Jan. 18.
Savient Pharmaceuticals' (NASDAQ:SVNT - News) shares rose after the East Brunswick, N.J.-based company announced late Friday that, as part of its restructuring of its commercial operations, it will discontinue its 19-person Oxandrin field sales force. The move follows the company's launch of oxandrolone, the generic version of Oxandrin.
Seattle Genetics (NASDAQ:SGEN - News) said it entered a license agreement with Genentech (NYSE:DNA - News) to develop cancer treatment SGN-40, which is currently undergoing Phase I and Phase II clinical trials. As part of the agreement, Seattle Genetics will receive an up-front payment of $60 million and could receive milestone payments of as much as $800 million, as well as potential royalties on sales.
Skechers USA (NYSE:SKX - News) lifted its outlook for the fourth quarter to earnings of 28 to 31 cents a share on revenue of between $295 million and $300 million. The Manhattan Beach, Calif., footwear provider previously forecast a profit of 22 to 27 cents a share for the period on revenue of $255 million and $265 million. For the full year, the company now sees earnings of $1.55 to $1.58 a share on revenue of between $1.196 billion and $1.201 billion. Skechers' prior projection for fiscal 2006 was for a profit ranging from $1.49 to $1.54 a share on revenue of $1.156 billion to $1.666 billion.
Smith & Wollensky Restaurant Group (NASDAQ:SWRG - News) said its December sales at restaurants open at least one year rose 5.1% to $14.1 million. Total consolidated restaurant sales for the month increased 9% percent to $15.3 million, the New York company said.
St. Jude Medical (NYSE:STJ - News) said it expects fourth-quarter earnings of 42 cents a share. Analysts surveyed by Thomson First Call forecast earnings of 39 cents a share, on average. The St. Paul, Minn. medical device company will report net sales of approximately $864 million for the fourth quarter, an increase of more than 9% compared to the year-ago period and approximately $20 million above current analysts' consensus revenue estimates, the company said.
Syntax-Brillian, (NASDAQ:BRLC - News) the high-definition-television maker, said fiscal second-quarter sales will exceed $240 million, with LCD television shipments greater than 350,000 units. Gross margins will be at the top half of its 15%-to-17% range.
Telestone Technologies Corp. (NASDAQ:TSTC - News) shares rose after the Beijing-based provider of wireless services said it has been awarded bids from four regional telecom operators. The company said it was awarded indoor coverage system equipment contracts from the Sichuan Telecom subsidiary of China Telecom; the Guizhou Unicom subsidiary of China Unicom; the Heibei Netcom subsidiary of China Netcom; and the Jiangxi Telecom subsidiary of China Telecom. Financial terms of the contracts were not disclosed.
Therma-Wave Inc. (NASDAQ:TWAV - News) agreed to be acquired for $1.65 a share, or $75 million, by KLA-Tencor. (NASDAQ:KLAC - News) The offer represents a 25% premium to Therma-Wave's closing price on Friday. KLA-Tencor, which provides semiconductor manufacturing systems, said the deal will strengthen its customers' access to Therma-Wave's advanced measurement capabilities.
TiVo (NASDAQ:TIVO - News) shares rose after the company announced a number of new products and partnerships, including alliances with Music Choice and RealNetworks, and a deal with Roxio to provide joint content mobility product for Macintosh computers. The company also said it plans to maker a presentation at a conference in Las Vegas on Tuesday. Also, Bear Stearns upgraded the stock to peer perform.
United Surgical Partners (NASDAQ:USPI - News) said it was being acquired by an affiliate of Welsh, Carson, Anderson & Stowe affiliate for $1.8 billion in cash and debt. UNCN will pay $31.05 for each United Surgical share, a 13% premium to Friday's closing price of $27.39.

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