Jim Cramer Blog

Here are 7 stocks for traders for Friday from TradingMarkets.com:
Adobe Systems (NasdaqGS:ADBE) beat earnings on Thursday after the close, announcing $0.37 EPS over an expected $0.36 EPS. ADBE's PowerRating is 5.
Winnebago Industries (NYSE:WGO) reports earnings on Friday morning before the bell; watch for $0.49 EPS. WGO's PowerRating is 3.
Steel Dynamics (NasdaqGS:STLD) announced plans to buy The Techs, a steel galvanizing company, for $360 million. STLD's PowerRating is 6.
Progressive Corporation (NYSE:PGR) announced a stock buyback plan of 100 million share over the next 24 months. PGR's PowerRating is 5.
Goldman Sachs (NYSE:GS) and Bear Stearns (NYSE:BSC) both reported earnings on Thursday morning, which were affected by the broad fallout of the subprime mortgage meltdown. GS's PowerRating is 5, and BSC's PowerRating is 4.
Colgate-Palmolive (NYSE:CL) announced that counterfeit Colgate toothpaste was discovered in 4 different states. CL's PowerRating is 6.
PowerRatings (for Traders) are courtesy of TradingMarkets.com

Labels: ADBE, BSC, C, GS, Hot Stocks, PGR, STLD, WGO

The three major indices started the week by bouncing around, with the Nasdaq ending down a hair and the Dow and S&P 500 up slightly. While the average retail price of a gallon of gas dropped overnight and down from its peak in May, gas and oil futures all climbed on the day. After a sell-off on Friday, the commodities rebounded today with light sweet crude leading the pack rising $0.88. Part of the boost came when the Iranian Minister of Petroleum declared supplies sufficient and that OPEC need not raise production. Saudi Arabia also informed Asian and European customers that July shipments would remain at June levels (which is -10% lower than contracted supplies for the time period). Natural gas closed down slightly.
Emcor Group, Inc. (NYSE: EME), a provider of electrical and mechanical services, upped its full-year earnings and revenue outlook. It is now estimating earnings of $2.75-3.00 per share, an increase from its previous forecast of $2.45-2.80 per share. The company credits the increase in a backlog from greater-than-expected contracts signed in the first quarter. Analyst expectations place earnings at $2.86 per share. The company simultaneously announced that the board had approved a 2-for-1 stock split to be paid as a 100% stock dividend on July 9th for shareholders of record as of June 20th. The stock climbed 8.4%.
Steelmaker Nucor (NYSE: NUE) offered revised guidance on its second-quarter earnings, warning that it would fare far worse than Wall Street's expectations. Today's announcement put earnings at between $1.05-1.15 per share, while analysts had expected $1.39 per share. The company blamed worsening market conditions and price decreases on the lowered guidance. Its shares fell -5.9%. U.S. Steel (NYSE: X) and Steel Dynamics (Nasdaq: STLD) were also down on the news.
After talk that the M&A boom might finally slow down, several small takeovers were announced. James River Group (Nasdaq: JRVR), a specialty property and casualty insurer, announced that it would be taken private by hedge fund D.E. Shaw Group. The hedge fund will purchase the financial services company for $575 million in cash or $34.50 per share. This offer is -1.9% less than the Friday trading price of $35.18. Forty-five percent of current shareholders have agreed to back the transaction.
Rexam Plc (Nasdaq: REXMY), a London-based drink can maker, agreed to buy Owens-Illinois' (NYSE: OI) plastics packaging business. The deal, worth $1.83 billion, will help Rexam to position itself to get into the medicine-packaging business, which it sees as a potentially lucrative market.
Discount airline AirTran (NYSE: AAI) extended an offer it put forward for regional carrier Midwest Airlines (Amex: MEH) through August 10th. The offer is for $15 per share and was first put out in April. The April offer is a bump up from a previous offer of $11.25 per share. Midwest Airlines has said that it intends to resist AirTran's hostile bid. Calyon Securities, meanwhile, downgraded AirTran to "hold" from "add." Its shares fell -2.9%.
By the BullMarket.com Staff

Labels: AAI, EME, JRVR, MEH, NUE, OI, REXMY, STLD, X

Lights, Camera, Auction: Sotheby's (NYSE: BID)
Even though it has doubled from where he recommended it last year, Cramer still likes BID as an inflation stock and as a play on conspicuous consumption. When an inflation threat looms, it is time to pick up gold and collectibles, comments Cramer, and this auction house has seen a dramatic run up of 31% in four weeks, strong earnings growth, with numbers on the low end. While some may suspect that the huge auction in May is already priced into the stock, Cramer thinks the market is not behaving rationally, and would buy BID, sell it when the auctions begin on May 8, and pick it up again on a weakness for those who want BID as an investment.
Fertile Hopes: Mosaic (NYSE: MOS) and CF Industries (NYSE: CF)
Cramer commented the rest of the world is leaving the US behind when it comes to nuclear energy, and urged investors take a look at MOS or CF as speculative stocks. Both companies have the technology to turn phosphates from fertilizer into uranium. Although they have not been discussing this technology openly, Cramer thinks MOS and CF are being "coy" and will want to profit from uranium's rise to $113 per pound. Although Cramer wouldn't mind buying CF even after its big move, he prefers MOS, since "Mosaic is the largest producer of phosphate on earth," Cramer said. He thinks both companies are worth buying as long as uranium stays over $50 and would invest soon "before the market starts to price in the new uranium upside" for them.

Next Week's Game Plan: Saks (NYSE: SKS - News), Federated Department Stores (NYSE: FD ), Steel Dynamics Inc. (NasdaqGS: STLD), Coca-Cola Co. (NYSE: KO), Wells Fargo & Co. (NYSE: WFC) and Washington Mutual Inc. (NYSE: WM), Annaly Capital Management (NYSE: NLY), United Technologies Corp. (NYSE: UTX), eBay Inc. (NasdaqGS: EBAY), American Standard Companies, Inc. (NYSE: ASD), Harley Davidson (NYSE: HOG - News), Quest Diagnostics (NYSE: DGX), Schering-Plough Corp. (NYSE: SGP), intuitive Surgical Inc. (NasdaqGS: ISRG), Schlumberger Limited (NYSE: SLB), Grey Wolf (AMEX: GW)
While SKS and FD are down because of disappointing quarters, Cramer reiterated his suggestion to give the companies the benefit of the doubt and would buy them on Monday. He commented STLD is in a "sweet spot" and is the perfect takeover target which would buy under $45. A "total breakout quarter" is in store for KO on Tuesday, according to Cramer, who points out that KO is an ideal weak dollar stock with good prospects in Japan, and he suggests paying up to $50.85. Cramer is wary of WM and WFC which have mortgage exposure and would hedge by picking up NLY. He admits UTX "humiliated" him when it rose as he was bearish, and now that he is impressed with the stock, Cramer calls it a "gift" below $65. On Wednesday, Cramer's "favorite internet stock" and value play, Ebay reports. Cramer would buy ASD before it splits next quarter and would not be intimidated by CEO Fred Poses' selling of the stock, since the move was planned. On the other hand, HOG has too much inventory, and Cramer calls it a heartbreaking stock. Thursday a "really big day,"Cramer commented, adding Quest Diagnostics has gone up, but is still cheap. He believes the takeover rumors and says, " I don't think you can afford not to be in DGX." Cramer also likes SGP which he believes is going to $30. He sees a "blowout" coming for ISRG because of its advanced surgery technology. Finally, Cramer would get into SLB if it is below $75 on Friday, because he predicts a "monster quarter." He would own SLB for a trade up to $80. In his "Mad Mail" segment, Cramer called the land driller GW "no good" and said "You have to be offshore."
Published By SeekingAlpha

Labels: ASD, bid, CF, DGX, Ebay, FD, GW, HOG, Jim Cramer, KO, Mad Money, MOS, SGP, SKS, SLB, STLD, UTX, WFC, WM

Beckman Coulter (NYSE:BEC - News) said it plans to sell $525 million worth of convertible debt, due 2036. The Fullerton, Calif. biomedical systems maker expects to grant the underwriters of the convertible debt option to buy up to an additional $75 million to cover over-allotments. Concurrently, the company said it would launch a 2.5 million share buyback program. The company said it would use the proceeds from the convertible debt sale to repurchase $100 million worth of its common stock.
Brookfield Properties Corp. (NYSE:BPO - News) plans to sell 30 million shares to investors. Brookfield Asset Management, which owns 51% of Brookfield Properties, will purchase around 11.25 million shares. Brookfield Properties will use the offer proceeds to repay outstanding debt and for general corporate purposes. Merrill Lynch, Pierce, Fenner & Smith Inc. and J.P. Morgan Securities will act as joint book-running managers and underwriters for the proposed offering. Separately, Brookfield Properties said that it's expecting to report 2007 funds from operations per share in a range of $2.10 to $2.20, reflecting up to 17% growth over the mid-point of 2006 guidance.
Devon Energy (NYSE:DVN - News) said Brian Jennings has left the company's chief financial officer position. The company said the departure is "in no way related to any issues regarding financial disclosures, accounting matters or other business issues."
Diodes Inc. (NASDAQ:DIOD - News) was downgraded to neutral from buy at UBS, citing valuation and concerns about moderating growth. The firm lowered its price target to $45 from $52.
Eaton Corp. (NYSE:ETN - News) was downgraded to neutral from outperform at Credit Suisse.
Hubbell Inc. (NYSE:HUB-A - News) (NYSE:HUB-B - News) cut its estimate of 2006 earnings to $2.53 to $2.58 a share. The Orange, Conn., company said it also cut its 2006 sales estimate to $40 million. Hubbell said it is seeing lower volumes in several of its key markets and the pace and depth of the decline has accelerated more rapidly than expected in the fourth quarter.
Memory Pharmaceuticals Corp. (NASDAQ:MEMY - News) plans begin the Phase IIa clinical trial for MEM 3454, a potential treatment for Alzheimer's disease, in the first quarter after the U.S. Food and Drug Administration released its clinical hold on development of the drug. The FDA, which had put development of the drug on hold in October, has now completed its review of Memory's investigational new-drug application, Memory said.
Nuvelo Inc. (NASDAQ:NUVO - News) and Bayer AG (NYSE:BAY - News) said a Phase III clinical trial of alfimeprase in acute peripheral arterial occlusion didn't meet its primary endpoint of avoidance of open vascular surgery within 30 days of treatment. The Phase 3 trial in catheter occlusion didn't meet the endpoint of restoration of function within 15 minutes. These trials did not meet key secondary endpoints, they added. Further, they have temporarily suspended enrollment in the ongoing Phase 3 NAPA-3 and SONOMA-3, until further analyses and discussions with outside experts and regulatory agencies are completed.
Parker-Hannifin Corp. (NYSE:PH - News) was downgraded to neutral from outperform at Credit Suisse. The firm cited softening end markets and weaker North America business.
Steel Dynamics (NASDAQ:STLD - News) was downgraded to neutral from buy at UBS citing valuation.
Synergetics USA Inc. (NASDAQ:SURG - News) reported fiscal first-quarter net earnings of $377,000, or 2 cents a share, down from $486,000, or 4 cents a share, in the year-ago period. There were 24.4 million shares outstanding in the quarter, compared with 11.9 million in the same period last year.
UnionBanCal Corp. (NYSE:UB - News) said its main subsidiary, Union Bank of California, will receive a tax refund and interest from the State of California totaling $113.7 million, or $72.6 million after taxes. The settlement is for recovery of taxes paid between 1989 and 1995.
VeraSun Energy (NYSE:VSE - News) shares slid after the company said Friday that Donal Endres, its chairman and CEO, has established a pre-arranged trading plan to sell a portion of his stock holdings.

Labels: BAY, BEC, BPO, DIOD, DVN, ETN, Hot Stocks, HUB, MEMY, NUVO, PH, STLD, SURG, UB, VSE

Stock in U.S. steel makers rose on Monday after the world's biggest manufacturer said price weakness in North America had bottomed-out and 2007 profits were expected to surge.
Analysts also pointed to recent comments by Jim Cramer, a stock commentator on cable TV's CNBC, who was bullish on steel makers and processors. The biggest gainer among steel manufacturers was Nucor Corp. (NUE.N: Quote, Profile , Research), whose stock rose $4.53, or 7.73 percent, to $63.17 on the New York Stock Exchange in afternoon trading. US Steel Corp. (X.N: Quote, Profile , Research) was up 2.75 percent and Mittal Steel Co. NV (MT.N: Quote, Profile , Research) rose 1.29 percent. On the Nasdaq, Steel Dynamics Inc. (STLD.O: Quote, Profile , Research) rose 5.66 percent. Earlier in Amsterdam, Arcelor Mittal's (CELR.PA: Quote, Profile , Research)(ISPA.AS: Quote, Profile , Research) Chief Financial Officer, Aditya Mittal, told a conference the company expects to be able to increase profits in 2007 and that it would be better than 2006. He said price weakness in the United States in the fourth quarter had already bottomed out, while prices in Europe should start to recover in the first quarter of 2007. Mittal said he believed the steel sector as a whole would have a good year in 2007, given strong demand, solid economic growth and higher prices for steel used in making cars.
Also rising on Monday were the stocks of specialty metals and steel processing companies and analysts suggested it was a result of the positive steel comments. Also they cited the announcement by Airbus parent EADS (EAD.PA: Quote, Profile , Research) that it would go ahead with a new model of the A350 airliner, which will use lighter materials, including titanium and other metals. Allegheny Technologies Inc. (ATI.N: Quote, Profile , Research) , which last week said it expects strong growth in the specialty metals sector, saw its stock rise $4.86, or 5.52 percent, to $92.92 on the NYSE on Monday afternoon. Titanium Metals Corp. (TIE.N: Quote, Profile , Research) stock rose 4.13 percent and RTI International Metals Inc. (RTI.N: Quote, Profile , Research) was up 3.4 percent.
Source: Reuters.com

Labels: ATI, CELR, EAD, Hot Stocks, ISPA, Metal, MT, NUE, RTI, Steel, STLD, Stock Market, TIE, X