Jim Cramer Blog

Here are 7 options to watch for today.
Most Under-Priced Calls: These are the most under priced calls of all stocks in our database. This stock comes from today's list and is among the most under-priced individual calls.
Bear Stearns Jan 130 Calls (NYSE:BSC - News). BSC's PowerRating (for Traders) is 6.
Most Under-Priced Puts: These are the most under priced puts of all stocks in our database. This stock comes from today's list and is among the most under-priced individual puts.
Indymac Bancorp Nov 12.5 Puts (NYSE:IMB - News). IMB's PowerRating (for Traders) is 5.
Most Overpriced Calls: These are the most overpriced calls of all stocks in our database. This stock comes from today's list and is among the most overpriced individual calls.
Blue Nile Nov 80 Calls (NasdaqGS:NILE - News). NILE's PowerRating (for Traders) is 6.
Most Overpriced Puts: These are the most overpriced puts of all stocks in our database. This stock comes from today's list and is among the most overpriced individual puts.
Lehman Brothers Dec 50 Puts (NYSE:LEH - News). LEH's PowerRating (for Traders) is 5.
Stocks with Abnormal Call Volume: These are stocks which showed unusual call option volume not easily explained by arbitrage operations. The appearance of a stock on the Call Volume Alerts list suggests a possible takeover, extraordinarily good earnings report, or other news which may favorably affect the stock.
Cablevision Systems (NYSE:CVC - News). CVC's PowerRating (for Traders) is 6.
Stocks with Abnormal Put Volume: These are stocks which showed unusual put option volume not easily explained by arbitrage operations. The appearance of a stock on the Put Volume Alerts list suggests an extraordinarily negative earnings report, or other news which may negatively affect the stock.
The New York Times Company (NYSE:NYT - News). NYT's PowerRating (for Traders) is 5.
Abnormal Put/Call $ Volume: These stocks have the highest dollar put volume in relation to their call volume. These high ratios are indicative of extreme bearish sentiment in the underlying stock.
Affiliated Computer Services (NYSE:ACS - News). ACS's PowerRating (for Traders) is 5.
Published By TradingMarkets.com

Labels: ACS, BSC, CVC, IMB, LEH, NILE, NYT, stock options

Here are 7 trading ideas for today. This list comes directly from the TradingMarkets Stock Indicators page and is 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.
Guess? (NYSE:GES - News). GES's PowerRating (for Traders) is 8.
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.
W.W. Grainger (NYSE:GWW - News). GWW'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.
Encore Acquisition (NYSE:EAC - News) & Liberty Global (NasdaqGS:LBTYK - News). EAC's PowerRating (for Traders) is 8, and LBTYK's PowerRating (for Traders) is 7.
Stocks Down 10% or More: These are stocks that have lost 10% or more over the past five days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that have lost 10% or more over the past five 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.
Broadcom (NasdaqGS:BRCM - News). BRCM's PowerRating (for Traders) is 7.
Bearish
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.
New York Times (NYSE:NYT - News) & Hovnanian Enterprises (NYSE:HOV - News). NYT's PowerRating (for Traders) is 3, and HOV's PowerRating (for Traders) is 4.
Published By TradingMarkets.com

Labels: BRCM, EAC, GES, GWW, Hot Stocks, HOV, LBTYK, NYT

Here are 7 stocks for traders for Wednesday from TradingMarkets.com:
Amazon.com (NasdaqGS:AMZN - News) beat earnings on Tuesday, reporting $0.19 EPS over an expected $0.16 EPS. AMZN's PowerRating is 8.
Boeing (NYSE:BA - News) should report $1.16 EPS on Wednesday before the market opens. BA's PowerRating is 4.
When Colgate-Palmolive (NYSE:CL - News) announces earnings early Wednesday morning, look for $0.83 EPS. CL's PowerRating is 5.
ConocoPhillips (NYSE:COP - News) is expected to announce $2.68 EPS on Wednesday morning before the market opens. COP's PowerRating is 7.
Analysts will be watching for Xerox (NYSE:XRX - News) to report $0.27 EPS tomorrow morning. XRX's PowerRating is 6.
When New York Times (NYSE:NYT - News) reports earnings early tomorrow morning, be watching for $0.31 EPS. NYT's PowerRating is 5.
Tribune (NYSE:TRB - News) should report $0.49 EPS tomorrow morning. TRB's PowerRating is 5.
PowerRatings (for Traders) are courtesy of TradingMarkets.com

Labels: AMZN, BA, CL, COP, Hot Stocks, NYT, TRB, XRX

Stocks drifted through the morning session on mixed economic news, then gained strength in the afternoon on M&A activity. The Blue Chip Dow Jones Industrial Average made the boldest move, with tamer advances from the Nasdaq composite and S&P 500 indexes. The price of crude oil, as well as the 10-year Treasury note, both declined.
The private Institute for Supply Management's April manufacturing index came in at 54.7, which was stronger than last month and also above Wall Street forecasts. A reading above 50 shows the manufacturing sector is expanding. It also makes it less likely that the Federal Reserve will see the need to cut interest rates to stimulate the economy. On the downside, housing and autos remain weak. The National Association of Realtors said pending sales of existing homes fell by another -4.9% in March.
Meanwhile, U.S. carmakers reported another month of slow sales. Ford Motor (NYSE: F - News) said its domestic sales in April slid -12.9% from a year ago. Car sales at General Motors (NYSE: GM - News) fell -9.5%. Even Toyota Motor (NYSE: TM - News), which has had a seemingly endless string of increased monthly sales, reported a -4.4% sales decline. There were two less selling days in April 2007 than the previous year.
In a rare occurrence, Dow Jones & Co. (NYSE: DJ - News) was more newsworthy than the stock index that bears its name. Shares of the publisher of The Wall Street Journal rocketed up 54.7% after news of a $5 billion unsolicited takeover bid from Rupert Murdoch's News Corp. (NYSE: NWS - News). The $60-a-share offer, which was submitted to the company's board in mid-April, marks a substantial premium over where the stock has traded in the last year. Dow Jones is controlled by the Bancroft family through a two-tier stock system and cannot be sold without its consent. The family was said to be studying the offer.
Other newspaper publishing companies gained today as well, as investors eyed the sector for further consolidation. Moving higher today were shares of New York Times (NYSE: NYT - News), McClatchy (NYSE: MNI - News), Gannett (NYSE: GCI - News), and the Washington Post (NYSE: WPO - News). News Corp., however, traded lower.
On the earnings front, Procter & Gamble (NYSE: PG - News) reported a 14% increase in its fiscal Q3 net, but those results disappointed investors who had become accustomed in recent quarters to results from the consumer products company that came in above forecast. With its Q3 figures only matching Wall Street's expectations, the shares declined -2.2%. Subscribers can read our take on P&G's earnings in today's issue.
Electronics retailer Circuit City (NYSE: CC - News) shed -5.3% after it withdrew its guidance for the first half of the year after announcing that April sales were "substantially" lower than what the company expected. Circuit City is facing intense competition from the larger Best Buy (NYSE: BBY - News) and is in the midst of a restructuring effort.
By the BullMarket.com Staff

Labels: BBY, CC, DJ, F, GCI, GM, MNI, NWS, NYT, PG, TM

Honeywell (NYSE: HON), AT&T (NYSE: T): Cramer said HON's quarter was unbelievable and urged viewers to check out HON's conference call. "Cote is just so good to go. That guy has got another 4 points that can be tacked on in the next three days." However, he was surprised by AT & T's modest report and thinks the company should be more bullish.
Lexmark (NYSE: LXK ), IBM Corp. (NYSE: IBM ), Hewlett Packard (NYSE: HPQ): Cramer comments LXK is blowing up because it is losing print business, and praises IBM for returning cash to shareholders with a 33% dividend increase. He says its time of HPQ's CEO Mark Hurd to "step up and be counted" and at $43, HPQ "is in such a holding pattern, before a takeoff."
Dow Jones and Co. (NYSE: DJ) New York Times (NYSE: NYT): Wall Street Journal's parent company, DJ and NYT should merge, according to Cramer who says NYT "dissidents" want to make radical cuts that would wreck the paper. A merger would make everyone happy, he said.
On Walmart (NYSE: WMT) and Target (NYSE: TGT): Although anyone who is familiar with Cramer's views knows he has hated Wal-Mart, but Cramer made a big switch and said he prefers Wal-Mart over Target now that Alan Questrom, "the #1 turnaround man in retail" is on WMT's board.
Amazon (NasdaqGS: AMZN), Ebay (NasdaqGS: EBAY), Whirlpool (NYSE: WHR): Cramer noted all of these stocks have had big runs; AMZN is up 70% and WHR is up 13% on international sales, and he says "enough is enough here."

Labels: AMZN, DJ, HON, HPQ, IBM, Jim Cramer, Jim Cramer's Stop Trading, LXK, NYT, TGT, WHR, WMT

General Growth Properties (NYSE:GGP - News) was upgraded to neutral from reduce at UBS.
Genzyme Corp. (NasdaqGS:GENZ - News) reported a fourth-quarter loss of $268.2 million, or $1.02 a share, down from earnings of $106.6 million, or 39 cents a share, in the year-ago period. Excluding items, most notably a charge related to its acquisition of AnorMed, the company posted non-GAAP (generally accepted accounting principles) earnings of $209 million, or 77 cents a share, for the fourth quarter. Revenue rose 17% in the latest three months to $854.2 million from $728.7 million in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was for a profit of 75 cents a share in the December period. Looking ahead, Genzyme forecast earnings of $1.90 to $2 per share for 2007. The company expects a non-GAAP profit of $3.05 to $3.15 a share for the year. It sees revenue of $3.6 billion to $3.8 billion for 2007. In the first quarter, the Cambridge, Mass., biotechnology company anticipates non-GAAP earnings in the low 70 cents range. Wall Street's current consensus estimates are for earnings of 73 cents a share in the March quarter and $3.17 a share for fiscal 2007.
Hanger Orthopedic Group (NYSE:HGR - News) posted fourth-quarter earnings of $4.9 million, or 17 cents a share, as sales rose 3.2% to $153.9 million. The performance was in line with Wall Street's consensus profit estimate.
Invitrogen (NasdaqGS:IVGN - News) posted quarterly results that beat Wall Street's expectations and agreed to sell its BioReliance Corp. unit, which provides biological safety testing, to Avista Capital Partners, a private equity firm, for $210 million.
Jarden Corp. (NYSE:JAH - News)reported fourth-quarter earnings of 52 cents a share, up from 4 cents in the year-earlier period. The Rye, N.Y., consumer-products company posted adjusted profit of 80 cents a share, up from 51 cents. Sales rose 9% to $1.1 billion. The average estimate of analysts polled by Thomson Financial was profit of 73 cents a share.
Journal Communications Inc. (NYSE:JRN - News) said its fourth-quarter net profit rose 39.9% to $23.4 million, or 33 cents a share, from $16.7 million, or 23 cents a share a year ago. The media company, which has operations in publishing, radio and television, said total revenue for the quarter rose 15.3% to $186.6 million, driven by strong growth at its broadcasting division after acquiring three television stations in December 2005. The firm also benefited from an extra week in the fourth quarter compared to a year ago. For the first quarter, the company said it expects publishing revenue to fall, reflecting continued challenges in automotive advertising.
Knight Capital Group (NasdaqGS:NITE - News) said January average daily dollar value traded fell 9.2% to $9.06 billion, from $9.97 billion in the year-ago period. However, January came in 17.3% ahead of December's average daily dollar value of $7.72 billion. Average daily U.S. equity trade volume in January 2007 was 1.1 million, up 1.1% from 1 million in the year-ago period and up 11.2% from 953,000 in December.
Kreisler Manufacturing (NasdaqCM:KRSL - News) shares surged after the Elmwood Park, N.J.-based maker of metal components and assemblies reported fiscal second-quarter net earnings of $607,000, or 33 cents a share, up from $289,794, or 16 cents a share last year. Revenue rose to $6.02 million from $4.43 million.
Macrovision Corp. (NasdaqGS:MVSN - News)reported fourth-quarter earnings of 31 cents a share compared with 9 cents a share, in the year-earlier period. Excluding equity-based compensation charges and other items, the Santa Clara, Calif., software concern earned 43 cents vs. 36 cents. Revenue rose 22% to $74.1 million. Analysts polled by Thomson Financial had expected earnings of 42 cents on revenue of $73 million. The company also said the U.S. Attorney's Office withdrew its subpoena related to Macrovision's stock-option review.
MGM Mirage (NYSE:MGM - News) said fourth-quarter earnings more than doubled, boosted by a 13% increase in gaming revenue, an 8% increase in hotel revenue, its share of profits from the sale of Tower 2 condominium units at The Signature at MGM Grand and pretax income of $86 million from Hurricane Katrina insurance recoveries. The Las Vegas entertainment, hotel and gaming company had fourth-quarter earnings of $201.6 million, or 69 cents a share, compared with $97.8 million, or 33 cents a share, a year earlier. MGM Mirage said revenue for the quarter ended Dec. 31, 2006, rose 11% to $2.02 billion from $1.82 billion a year ago. Analysts surveyed by Thomson Financial expected, on average, earnings of 48 cents a share on revenue of $1.81 billion. Analyst earnings forecasts typically exclude unusual items.
Molina Healthcare Inc. (NYSE:MOH - News) fourth-quarter net income rose to 41 cents a share from 38 cents in the year-earlier period. Analysts polled by Thomson Financial had expected 41 cents. The managed care company's revenue increased to $549.5 million from $423.2 million; Wall Street was looking for $541 million. Molina backed its view for fiscal 2007 earnings per share of $1.75 to $1.90.
New York Times Co. (NYSE:NYT - News) and Monster Worldwide Inc. (NasdaqGS:MNST - News) formed a strategic alliance for help-wanted advertising. Under the agreement, 19 of the publishing company's Web sites, including The New York Times, The Boston Globe, the Worcester Telegram & Gazette and newspapers throughout the Southeast and California, will co-brand online recruitment advertising Web sites with Monster.
P.F. Chang's China Bistro (NasdaqGS:PFCB - News)reported fourth-quarter earnings per share were flat at 34 cents a share. Revenue rose to $252 million from $213.8 million. The latest results reflect $1.5 million in equity-based compensation expense and $400,000 in additional pre-opening expenses. The average estimate of analysts polled by Thomson Financial was profit of 26 cents a share. Looking ahead, the Scottsdale, Ariz., restaurant operator sees earnings of $1.45 a share in fiscal 2007 with revenue increasing 19% to $1.1 billion. Wall Street's current consensus estimate is profit of $1.38 per share in 2007.
Sigma-Aldrich (NasdaqGS:SIAL - News) fourth-quarter profit rose to 53 cents a share from 42 cents in the year-earlier period. The chemicals maker's sales rose 13% to $464.5 million. Analysts polled by Thomson Financial had forecast earnings of 47 cents on revenue of $449 million. The St. Louis company expects to earn $2.15 to $2.25 a share this year.
SPSS Inc. (NasdaqGS:SPSS - News) reported fourth-quarter net income dropped 66% to $2 million, or 10 cents a share, from $5.89 million, or 30 cents a share, a year earlier. The Chicago company said the latest quarter included a non-cash charge of $6.9 million related to an income tax expense, which cut earnings by 33 cents a share. On average, analysts polled by Thomson Financial expected earnings of 34 cents a share. Analyst estimates typically exclude unusual items. Total net revenue jumped 14% to $71.1 million from $62.2 million a year ago, driven by increased sales across all product lines and major geographical regions. SPSS's operating income rose 36% to $11.7 million from $8.6 million a year ago. Looking ahead, SPSS expects first-quarter revenue of $68 million and $70 million, and earnings of 23 cents to 27 cents a share, excluding 6 cents a share for stock-based compensation. For 2007, the company expects revenue of $285 million to $295 million, and earnings of $1.20 to $1.30 a share, excluding 26 cents a share for stock-based compensation expense.
Total (NYSE:TOT - News) fourth-quarter adjusted net income declined 10% to 2.74 billion euros ($3.6 billion), or 1.20 euros a share. Sales slipped 6% to 36.4 billion euros after hydrocarbon production declined 2.5% in the quarter to 2.4 million barrels of oil equivalent a day. The output decline followed governments taking a bigger share of production plus asset divestments and security-related shutdowns in the Niger Delta. The French oil giant expects to raise hydrocarbon production by an average of more than 5% a year to 2010. Surplus cash flow will be used to buy back shares, Total said.
Unibanco (NYSE:UBB - News) said its 2006 net income rose 20.2% to 2.2 billion Brazilian reais ($1.04 billion). Operating income for the year rose 20.5% to 3.52 billion reais. Total assets reached 104 billion reais in December, up 13% from a year earlier. "Unibanco remains satisfied and confident with the ongoing results and the continuous improvement of its performance," the bank said in a statement.
Varian Semiconductor (NasdaqGS:VSEA - News) was upgraded to buy from neutral at UBS. The firm said it expects the company's share of the ion implant market to improve to around 48% from 39%. UBS said the decision by Applied Materials Inc. to cease future development of its beamline ion implant product will leave Varian as one of only two suppliers in the sector. As well as improved market share, Varian should also be able to benefit from better pricing in the sector as competition eases, UBS added.
Shares of Wolseley plc (NYSE:WOS - News) jumped following a report that Cinven is considering a 10 billion pound takeover offer for the building products company. The potential deal was reported in the CityAM newspaper, which cited unnamed sources.

Published By Michael Baron of MarketWatch

Labels: GENZ, GGP, HGR, IVGN, JAH, JRN, KRSL, MGM, MNST, MOH, MVSN, NITE, NYT, PFCB, SIAL, SPSS, TOT, UBB, VSEA, WOS

Avanir Pharmaceuticals (NasdaqGM:AVNR - News) received an approvable letter and acceptable labeling from the FDA for a new formulation of its antipsychotic drug FazaClo.
Boeing Co. (NYSE:BA - News) reported fourth-quarter earnings of $989 million, or $1.29 a share, up from a year-ago profit of $460 million, or 58 cents a share. On a continuing operations basis, the Dow component earned $980 million, or $1.28 a share, in the latest quarter. On an adjusted basis, excluding tax benefits as well as discontinued operations, the Chicago-based aerospace giant earned $1.16 a share, in the latest quarter, compared to 74 cents a share last year. Revenue rose in the three months ended Dec. 31 to $17.54 billion from $13.9 billion in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was for a profit of 98 cents a share in the December period on revenue of $16.48 billion. The company also lifted its outlook for fiscal 2007 to earnings of $4.55 to $4.75 a share. The current average estimate of analysts polled by Thomson Financial is for a profit of $4.75 a share for the year. It forecast earnings of $5.55 to $5.75 a share for fiscal 2008, saying this view reflects expectations for strong revenue growth and expanding margins across all of its businesses.
Bristol-Myers Squibb (NYSE:BMY - News) shares rose following a report in The Financial Times that the company has hired Lehman Bros., Morgan Stanley and Citigroup to help it field possible takeover bids. Earlier in the week, a report surfaced that the company had drawn acquisition interest from French conglomerate Sanofi-Aventis (NYSE:SNY - News).
Catalyst Pharmaceutical Partners (NasdaqGM:CPRX - News) was initiated with a buy rating at Stifel Nicolaus with a $9 price target.
C.H. Robinson Worldwide Inc. (NasdaqGS:CHRW - News) reported fourth-quarter net income of $71.8 million, or 41 cents a share, up from $58.1 million, or 33 cents, a year ago. Quarterly revenue for the trucking company rose to $1.64 billion from $1.58 billion.
CheckFree Corp. (NasdaqGS:CKFR - News) reported a slight profit gain on advances in its core business. For its fiscal second-quarter, CheckFree said net income rose 4% to $35.3 million or 39 cents a share, compared to $33.8 million or 36 cents a share a year ago.
Corus Group Plc (NYSE:CGA - News) shares leapt after India's Tata Steel won a bidding war to acquire the Anglo-Dutch steelmaker for $12.1 billion.
EchoStar Communications (NasdaqGS:DISH - News) was upgraded to overweight from equal-weight at Morgan Stanley. The firm lifted its price target on the shares to $44 from $40.
Estee Lauder (NYSE:EL - News) said its fiscal second-quarter net income more than doubled to $208.4 million, or 99 cents a share, from $81.7 million, or 38 cents a share, a year earlier. The New York cosmetics company said second-quarter income from continuing operations increased 39% to $208.5 million, or 99 cents a share, from $150.4 million, or 70 cents a share, and net sales advanced 12% to $1.99 billion from $1.78 billion. Analysts surveyed by Thomson Financial, on average, had been expecting Estee Lauder to earn 76 cents a share on net sales of $1.91 billion for the second quarter ended Dec. 31. The maker of Aveda and Clinique products expects third-quarter earnings from continuing operations to be about flat from a year earlier as sales rise 4% to 6%.
Frontier Oil (NYSE:FTO - News) was upgraded to neutral from underperform at Credit Suisse.
Harris Corp. (NYSE:HRS - News) said second-quarter net income rose, as revenue gained, to $94 million, or 67 cents a share, from $30 million, or 22 cents a share, during the same period in the prior year. Before items, quarterly per-share income rose to 68 cents from 52 cents in the prior year.
Harris Stratex Networks (NasdaqGM:HSTX - News) was initiated with a buy rating at Merriman Curhan Ford & Co.
Hologic Inc. (NasdaqGS:HOLX - News) reported fiscal first-quarter earnings of $16.1 million, or 30 cents a share, up from a year-ago profit of $5.7 million, or 12 cents a share. Revenue jumped 86% in the latest three months to $163.2 million from $88 million in the same period a year earlier. The Bedford, Mass.-based company attributed the higher earnings to an increase in product sales of its Selenia full-field digital mammography systems.
Ingersoll-Rand (NYSE:IR - News) said fourth-quarter net income for the three months ended Dec. 31 fell to $222 million, or 72 cents a share, from $291.6 million, or 87 cents a share in the year-ago period. Earnings from continuing operations in the latest quarter were 74 cents a share. Revenue increased by 7% to $2.89 billion. Analysts surveyed by Thomson Financial forecast earnings of 73 cents a share, on average. Full-year 2007 earnings from continuing operations are forecasted at $3.61 to $3.71 a share, compared to the Thomson Financial estimate of $3.55 a share.
Jones Lang LaSalle Inc. (NYSE:JLL - News) said fourth-quarter net income rose, as revenue gained, to $80.9 million, or $2.37 a share, from $66.9 million, or $1.99 a share, during the same period in the prior year. Analysts were looking for per-share income of $2.26.
Kinetic Concepts (NYSE:KCI - News) was upgraded to buy from hold at Deutsche Bank.
Levitt Corp. (NYSE:LEV - News) agreed to be acquired by BFC Financial Corp. (NYSEArca:BFF - News) for $286 million in stock. In addition, Levitt said preliminary figures show its home building division generated fourth-quarter revenue of $143.6 million, with 426 homes delivered in the quarter at a margin of 19.6%. Backlog at Dec. 31 was 1,248 units with a sales value of $438.2 million. New home orders totaled 204, but were partly offset by 122 cancellations. The company said it has entered into sales contracts to dispose of certain properties and is expected to realize a pre-tax loss of $9.0 million upon disposition, and will write-off $1.4 million in pre-acquisition costs for properties which will not be acquired.
Lone Star Technologies (NYSE:LSS - News) said its fourth-quarter earnings fell to $18.1 million, or 58 cents a share, from $70.9 million, or $2.28 a share, a year earlier, hurt by an income-tax expense. Analysts surveyed by Thomson Financial expected, on average, quarterly earnings of 58 cents a share, before items. The Dallas oilfield pipe and tubing company's revenue for the quarter decreased to $334.8 million from $337.5 million a year ago. Wall Street expected quarterly revenue of $334 million.
New York Times Co. (NYSE:NYT - News) swung to a fourth-quarter loss on an $814 million charge for the write-down of intangible assets at the New England Media Group, staff-reduction costs and accelerated depreciation of its Edison, N.J., printing plant. The New York media company reported a fourth-quarter loss of $648 million, or $4.50 a share, compared with earnings of $63.2 million, or 43 cents, a year earlier. Excluding the charges, the company earned $87.9 million, or 61 cents a share, in the latest quarter. The company said revenue for the three months ended Dec. 31 rose 4.3% to $931.5 million from $893.1 million a year ago. Analysts surveyed by Thomson Financial expected, on average, earnings of 46 cents a share on revenue of $904 million. Analyst earnings forecasts typically exclude unusual items. In addition, New York Times Co. said it expects to complete the sale of its Broadcast Media group for $575 million in the first half of 2007.
Published By MarketWatch

Labels: AVNR, BA, BFF, BMY, CGA, CHRW, CKFR, CPRX, DISH, EL, FTO, HOLX, HRS, HSTX, JLL, KCI, LEV, LSS, NYT, SNY

Summary: TV stocks have declined in recent years because of a fragmenting audience, ad dollars moving to the internet, and TiVo viewers skipping commercials. But the recent sale by The New York Times Co. (NYT) of a group of TV stations to a private-equity group for $575 million clobbered Street estimates of $425m, suggesting there may still be a strong market for smaller outlets due to the popularity of their local newscasts, and because broadcast TV is gaining viewers at the expense of cable. Three operators -- Gray Television Inc. (GTN), Lin TV Corp. (TVL), and Nexstar Broadcasting Group Inc. (NXST) -- have typical LBO characteristics, including considerable debt, and sub-$1 billion market cap. GTN stations' ratings lead in 24 of its 36 markets, NXST has a low cash-flow valuation with lots of appreciation potential, and TVL might get a buyout bid from a shareholder that owns almost half of its stock already. Hearst-Argyle Television Inc. (HTV) is big, but majority holder Hearst conglomerate already owns 74% of the shares, and may well buyout the rest of its holders.
Published by Andrew Bary

Labels: GTN, HTV, NXST, NYT, TVL

New York Times Co. said Thursday it has agreed to sell its Broadcast Media Group to private equity firm Oak Hill Capital Partners for $575 million. The company, which operates The Boston Globe, International Herald Tribune, and its namesake newspaper, said the sale is subject to regulatory approvals and is expected to close in the first half of 2007.
The transaction, which was highly anticipated, includes nine network-affiliated television stations as well as their respective websites and the Digital Operating Center.
New York Times announced its plans to sell the television stations earlier in September so that it could focus on the development of its newspapers and its growing digital businesses.
While New York Times is making progress with its digital businesses, it continues to contend with a difficult operating environment and a secular shift in advertising trends toward the Internet. As such, our view on the company has not changed, and we would continue to be on the sidelines with the stock.
--Richard Jahnke, Briefing.com

Labels: NYT

Second Helping: Denny's (NASDAQ: DENN - News)
Cramer says that Denny's is a comeback story that is being ignored because most Wall Street investors are "snobs ..."They don't understand what's going on at these restaurants." Denny's has been selling restaurants and is moving toward a franchise business model to cover its debts. Cramer cited CEO Nelson Marchioli's confident statements about elminiating debt without selling 21 of its stores, and commented that Denny's has an "amazing" opportunity to refinance its low rates. Since Denny's is a small-cap stock, Cramer cautions investors to use limit orders when buying or "you will get ripped off."

Mistaken Downgrade: McGraw-Hill (NYSE: MHP - News), New York Times (NYSE: NYT - News), Dow Jones (NYSE: DJ - News)
Cramer says that AG Edward's downgrade of MHP is an incredible opportunity to buy a diversified media stock. Although people consider NYT and the Wall Street Journal as the Harvard and Yale of newspapers, investors would be better off buying the universities, comments Cramer : "In 50 years, I doubt anyone will even read newspapers." In any case, NYT and DJ have two classes of stock which prevent takeovers. Cramer calls McGraw Hill "The only media play that isn't really a media play... it's more like a private-equity play," because every private-equity deal needs to be financed with bonds rated by Standard & Poors which MHP owns. "It is a real company, with real growth, real profits and real dividends," Cramer said. "The AG Edwards downgrade was wrong."

Sell Block: Wal-Mart (NYSE: WMT - News)
Cramer urged investors to sell this stock "six ways from Sunday" because the retail giant is suffering from the "shutdown of the immigrant buyer" due to a tough I.D. verification program in New Jersey which prevents illegal immigrants from renewing their driving licenses. Since the stores are usually not within walking distance of residential communities, "No car, no Wal-Mart," concludes Cramer who adds, admitting that the subject is a touchy one: "If a liberal state like New Jersey is cracking down like this, you can only imagine what other states are doing."
CEO Interview: Rick Rosenfield, California Pizza Kitchen (NASDAQ: CPKI - News)
When Cramer asked Rick Rosenfield how he would reassure those who are worried about his company, he admitted, "We did have some slippage, but I haven't seen much of a downgrade ... Our investors and analysts have stood by us." He added that the restaurant's profitablility and fundamentals are solid. Rosenfield went on to define "slippage" as bureacracy which is out of the company's control. When asked if he was concerned about the waning popularity of pizza, Rosenfield stressed the restaurant's diverse menu, which includes salads, appetizers and pasta. Cramer would take advantage of CPKI's slippage to pick up some stock, because he likes the restaurant.
Published By SeekingAlpha

Labels: CPKI, DENN, DJ, Jim Cramer, Mad Money, MHP, NYT, WMT

Maurice Greenberg, the former head of insurer American International Group Inc. (AIG.N: Quote, Profile, Research), has been buying shares of New York Times Co. (NYT.N: Quote, Profile, Research) to try to break the Sulzberger family's hold on the media company, the New York Post reported on Wednesday, citing unnamed sources. Greenberg has been buying hundreds of thousands of Times shares, the Post reported, putting him in league with other shareholders, such as Morgan Stanley Investment Management (MS.N: Quote, Profile, Research), who have been questioning the Sulzbergers' holding of a more powerful class of stock. The New York Times, whose shares gained more than 4 percent in morning trading, was not immediately available for comment. New York Times shares gained 98 cents, or 4.3 percent, to $24.02 on Wednesday, but are still far from their 52-week high of $28.98 on February 22, on the New York Stock Exchange.

Labels: AIG, Media, MS, NYT

Maurice Greenberg, the former head of insurer American International Group Inc. (AIG.N: Quote, Profile, Research), has been buying shares of New York Times Co. (NYT.N: Quote, Profile, Research) to try to break the Sulzberger family's hold on the media company, the New York Post reported on Wednesday, citing unnamed sources. Greenberg has been buying hundreds of thousands of Times shares, the Post reported, putting him in league with other shareholders, such as Morgan Stanley Investment Management (MS.N: Quote, Profile, Research), who have been questioning the Sulzbergers' holding of a more powerful class of stock. The New York Times, whose shares gained more than 4 percent in morning trading, was not immediately available for comment. New York Times shares gained 98 cents, or 4.3 percent, to $24.02 on Wednesday, but are still far from their 52-week high of $28.98 on February 22, on the New York Stock Exchange.

Labels: AIG, Media, MS, NYT

Maurice Greenberg, the former head of insurer American International Group Inc. (AIG.N: Quote, Profile, Research), has been buying shares of New York Times Co. (NYT.N: Quote, Profile, Research) to try to break the Sulzberger family's hold on the media company, the New York Post reported on Wednesday, citing unnamed sources. Greenberg has been buying hundreds of thousands of Times shares, the Post reported, putting him in league with other shareholders, such as Morgan Stanley Investment Management (MS.N: Quote, Profile, Research), who have been questioning the Sulzbergers' holding of a more powerful class of stock. The New York Times, whose shares gained more than 4 percent in morning trading, was not immediately available for comment. New York Times shares gained 98 cents, or 4.3 percent, to $24.02 on Wednesday, but are still far from their 52-week high of $28.98 on February 22, on the New York Stock Exchange.

Labels: AIG, Media, MS, NYT