Jim Cramer Blog

U.S.-listed shares of Chinese companies plunged in the wake of the overnight sell-off in Shanghai. Shares of Mindray Medical (NYSE:MR - News), Guangshen Railway Company Ltd. (NYSE:GSH - News), Trina Solar (NYSE:TSL - News), China Southern Airlines (NYSE:ZNH - News) and Aluminum Corp. China (NYSE:ACH - News) all fell on heavier-than-average volume.
Shares of 11 exchange traded funds based on Asian markets fell sharply Tuesday, reflecting fears of economic upset after the Shanghai stock market fell almost 9% overnight. ETFs such as iShares:FTSE/Xinhua (NYSE:FXI - News), PowerShares Golden Dragon (AMEX:PGJ - News) and iShares MSCI Singapore Index Fund (AMEX:EWS - News) were hit hard.
Apple Inc. (NasdaqGS:AAPL - News) shares slumped after the company said Monday it would delay the release of its AppleTV set-top box product until mid-March. The AppleTV had originally been scheduled to be shipped in February, but an Apple spokeswoman said, "Wrapping up AppleTV is taking a few weeks longer than we projected."
AutoZone Inc. (NYSE:AZO - News) said second-quarter net income for the three months ended Feb. 10 rose 6.2% to $103 million, or $1.46 a share, from $97 million, or $1.25 a share in the year-ago period. Sales rose to $1.3 billion from $1.25 billion. Analysts surveyed by Thomson Financial forecast earnings of $1.45 a share and revenue of $1.3 billion, on average.
Blockbuster Inc.'s (NYSE:BBI - News) fourth-quarter profit dropped sharply on higher corporate expenses, the video rental company said Tuesday. Blockbuster earned $12.9 million, or 5 cents a share, down from $18 million, or 9 cents, in the fourth quarter of 2005. On an adjusted basis, the company said it would have earned $20.4 million, or 9 cents a share, vs. $25.0 million, or 12 cents. Revenue came in up 1.4% to $1.51 billion on an increase in worldwide same-store merchandise sales -- sales at stores open more than a year -- and favorable currency. The average estimate of analyst polled by Thomson Financial had been for Blockbuster to earn 5 cents a share on revenue of $1.47 billion.
Cabela's Inc. (NYSE:CAB - News) said it is filing a preliminary prospectus supplement with the Securities and Exchange Commission regarding a public offering of 4.1 million shares.
CBRE Realty Finance Inc. (NYSE:CBF - News) shares dropped after the Hartford, Conn.-based commercial real estate finance company reported fourth-quarter net earnings of $3.5 million, or 12 cents a share, up from $1.73 million, or 9 cents a share, in the year-ago period. Adjusted funds from operations rose to $5.9 million, or 19 cents a share, from $2.5 million, or 13 cents a share, last year. Revenue rose to $25.6 million from $8.78 million. For fiscal 2007, CBRE expects earnings of 86 cents to 96 cents a share and adjusted funds from operations of $1.10 to $1.20 a share.
Centennial Communications Corp. (NasdaqGS:CYCL - News) said certain affiliates of the Blackstone Group have agreed to sell 10 million shares of Centennial's common stock in an underwritten public offering at a price of $8.05 per share. Wall, N.J.-based Centennial, a provider of wireless and communications services, will not receive any proceeds from the sale of shares. Following the completion of the offering, the Blackstone Group affiliates will own 15.17 million shares of Centennial's common stock. Centennial shares fell 8.4% to $8.04 in Tuesday morning trade.
Covanta Holding Corp. (NYSE:CVA - News) reported fourth-quarter net income doubled to 8 cents a share as revenue rose to $317.9 million from $303.4 million.
Delphi Corp. (Other OTC:DPHIQ.PK - News) said fourth-quarter losses widened to $853 million from $828 million a year ago. The loss for the quarter ending December includes $200 million in impairment charges. Revenue fell to $6.4 billion from last year's $6.8 billion, while non-General Motors revenue was flat at $3.7 billion. For all of 2006, the bankrupt Troy, Mich. maker of auto parts lost $5.5 billion, which includes $3 billion in charges related to the attrition of more than 20,000 employees.
Dillard's Inc. (NYSE:DDS - News) said fourth-quarter earnings rose to $155 million, or $1.90 a share, from $98.5 million, or $1.24 a share, a year earlier. Results for the quarter ending Feb. 3 include an interest credit of 8 cents a share and a tax benefit of 79 cents a share. Excluding these non-recurring items, earnings would have been $1.03 a share. Revenue increased 3.3% to $2.46 billion from last year's $2.38 billion, while same-store sales declined 4%. Analysts surveyed by Thomson Financial had been expecting earnings of $1.09 a share and revenue of $2.42 billion, on average. Shares of the Little Rock, Ark. department store chain closed Monday down 3 cents at $34.97.
DTE Energy Co. (NYSE:DTE - News) reported fourth-quarter net income fell to 79 cents a share from $2.14 a share in the year-earlier quarter.
Dynegy Inc. (NYSE:DYN - News)said it swung to a fourth-quarter net loss of $58 million, or 12 cents a share. The firm reported a profit of $293 million, or 74 cents a share a year earlier, which included a $690 million gain from discontinued operations. Revenue for the quarter fell 36.2% to $397 million. Analysts polled by Thomson Financial had expected a loss of 4 cents a share. The firm said its proposed combination with LS Power remains on track for completion at the end of the first quarter of 2007. The deal is expected to provide more predictable cash flows, the company noted. It added its Midwest and Northeast regions delivered a stronger performance due to higher prices realized, though volumes were lower. The company cut its 2007 operating cash flow estimate to a range of $500 million to $600 million from a range of $600 million to $700 million due to a change in the timing of forward sales receipts. It maintained its forecast for 2007 earnings before interest, tax, depreciation and amortization of $1.02 billion to $1.13 billion.
Federated Department Stores Inc. (NYSE:FD - News) turned in higher fourth-quarter earnings that included hefty charges, including a loss on the sale of bridal group businesses, but offered a sharply lower-than-expected forecast. But the retailer attempted to upstage that news with a plan to change its corporate name to Macy's Group Inc. At the same time, Federated also upped its share buyback program and announced a quarterly dividend.
Focus Media Holding Ltd., (NasdaqGM:FMCN - News) the Shanghai advertising company, reported fourth-quarter net income more than tripled as revenue nearly tripled to $68.3 million.

Published By MarketWatch

Labels: AAPL, ACH, AZO, BBI, CAB, CBF, CVA, CYCL, DDS, DTE, DYN, EWS, FD, FMCN, FXI, GSH, MR, PGJ, TSL, ZNH

Bullish calls:
Thermo Fisher Scientific (NYSE: TMO - News): ' May I suggest - if you're going to do medical diagnostics ... it's TMO.'Marvell Technology (NASDAQ: MRVL - News): ' ... I think it's got one down and five up. They make the controllers for disk drives, among other things, and also the PS2 ... I think it's six months before it explodes, but it will explode to the upside!'Companhia Vale do Rio (NYSE: RIO - News): 'The only one that I will still sanction, was my last one that I recommended, which was RIO.Hewlett-Packard (NYSE: HPQ - News): 'The only one [personal computer company] that I've actually been recommending - it's got big revenues this company - is the HPQ.'USG (NYSE: USG - News): 'I think USG is maxed out by Warren Buffet. It's at $52 bucks and, if housing turns, it goes right to $65. And, if housing doesn't turn, no real downside - maybe $49. That means 3 down, and it means 7 up. 7 up wins.'Community Bank System (NYSE: CBU - News): 'This one's very cheap off the book value. Why? Because the book value's actually cash, when it comes to banks. I like it. 3.4% yield. I'm not concerned about the inverted yield curve ... You've got a winner.'Daktronics (NASDAQ: DAKT - News): 'They were beat up, and it was a fallacy! ... This was classic profit taking ... I like DAKT very much on this pullback, and I want to pull the trigger, and then I want to stay with it.'
Bearish calls:
Mindray Medical International (NYSE: MR - News): 'Oh, there's a man who likes to go to China and look for nothing but problems. We got a lot of companies who do the same thing - in terms of the internet - right here ... TMO's better than MR.'Internap Network Services (NASDAQ: INAP - News): 'It is time to ring the register INAP.'Intuitive Surgical (NASDAQ: ISRG - News)Amphenol (NYSE: APH - News): 'I never find these companies to be anything that special, but they always trade cheap. I have no catalyst to recommend APH, so I'm going to say, 'don't buy, don't buy.'Rio Tinto (NYSE: RTP - News): 'The commodity boom is over. NEM - the last of the big gold stocks - is rolling over. I do not want be associated with RTP, or BHP anymore. 'BHP Billiton (NYSE: BHP - News)Systemax (NYSE: SYX - News): 'We liked this stock before; it's had a really nice run. I am not going to tell you that it's necessarily cheap ... SYX is kind of one of these [ one sideways thumb].'Peabody Energy (NYSE: BTU - News): ' ... coal is plummeting, plummeting. No one wants to own coal. Plus, we have the Democrats ... they are not of, by and for the corporation. They are concerned with the air. You can't make any money off of that game - the air game. Therefore, I think that BTU remains a cheap stock with no catalyst. Not for me.'
Published by SeekingAlpha

Labels: APH, BHP, BTU, CBU, DAKT, HPQ, INAP, ISRG, Jim Cramer, Mad Money, MR, MRVL, RIO, RTP, SYX, TMO, USG

Bullish calls:
CR Bard Inc. (NYSE: BCR - News): 'You want medical products, I offer you BCR!'Brush Engineered Materials (NYSE: BW - News): 'The composite engineering business has not caught fire, the way I'd like it ... However, we identified BW - fully 10 points ago - and it's still going higher, because it's got a monopoly on its barillium. My take is, this stock is not done going up. You keep it. It's going higher!'Barr Pharmaceuticals (NYSE: BRL - News)Disney (NYSE: DIS - News): 'It hit its 52-week high today. DIS is two thumbs up, way up. It's not going to get you to $40 overnight, but it is inching its way there, and it will get to $40.'Riverbed Technology (NASDAQ: RVBD - News): 'I recommend taking 25% off from where I first recommended this stock. Not any more than that, because RVBD's got the mojo!'Harley-Davidson (NYSE: HOG - News): 'You are not a hog; it's a great brand name. I think that HOG is a too-heavily-shorted stock. It's got terrific brand. It is a great way to go when gasoline goes higher.'Companhia Vale do Rio (NYSE: RIO - News): 'Carnival, my friend! RIO's going to go to $35. They've got the ore that the Chinese need ... I want you to stick with RIO!'
Bearish calls:
Compuware Corp. (NASDAQ: CPWR - News): 'This stock has been in a five year flatline. I can't wake it up. I don't think there's any paddles that's going to get that stock started. Right here, right now. Sell, sell, and more sell.'Mindray Medical (NYSE: MR - News): ' I feel the same way about MR as I do about CMED.'going to the Chinese communists to do a little business - I'm not going to do that. You want medical products, I offer you BCR !China Medical (NASDAQ: CMED - News): ' ... going to the Chinese communists to do a little business - I'm not going to do that.'AtheroGenics (NASDAQ: AGIX - News): 'I think it's too risky, my friend. Now you can say, 'Wait a minute, Jim. It's all the way down to its 52-week low...' It's got that stuff you really like - the small molecule therapeutics... I can't do it. Because these stocks have hurt me.'Biovail (NYSE: BVF - News): ' ... it's not my favorite; it's Canadian pharma. I think you've got to wait until it comes down. I am going to give you a solid 'don't buy, don't buy.'AMREP (NYSE: AXR - News): ' ... this is a tough one. This is a $102 stock ... I mean, that's like too many games under one roof. I would take profits ... They should split that company in half and then I'll get interested.'Rambus (NASDAQ: RMBS - News): 'I don't like the NSM numbers I saw after the close. That's going to drive the chip stocks down. I don't want you in RMBS - it's too risky.'

Labels: AGIX, AXR, BCR, BRL, BVF, BWLD, CMED, CPWR, DIS, HOG, Jim Cramer, Lightning Round, Mad Money, MR, RIO, RMBS, RVBD