Jim Cramer Blog

Time Heals all Wounds: Kinetic Concepts (NYSE: KCI - News) and Smith & Nephew (NYSE: SNN - News)
Although Cramer usually prefers medical stocks which are a "pastiche," he likes KCI as a speculative stock even though it is levered only to wound-care and therapeutic service products. He is not concerned about the "nasty beating" KCI has taken, since the bulls and bears tend to fight it out over companies like KCI, and Cramer thinks the bulls will win. Another concern is KCI has reached 90% saturation in wound care and now has to compete for market share with SNN which recently acquired Blue Sky Medical. Cramer believes KCI has many competitive advantages, its 3% drop was "overdone," and only 10% of its revenue comes from bandages. He is confident KCI will bounce back.
On the Mend: Micrus Endovascular (NasdaqGM: MEND), Boston Scientific (NYSE: BSX - News) and Johnson & Johnson (NYSE: JNJ - News)
While those holding the stock may be in the "House of Pain" after MEND failed to get approval in China for its cerebral aneurysm treatment, Cramer thinks its $2 fall is a good opportunity to buy. He believes approval has been postponed and not cancelled, and would sell into strength once the treatment is approved. Cramer is not worried about large competitors BSX and JNJ. He also notes MEND could be a takeover target; "It either makes you money or it will get bought out." Cramer would buy the stock in increments andwould use limit orders.
Game Plan for the Coming Week: Thermo Fisher Scientific (NYSE: TMO - News), J.C. Penney (NYSE: JCP - News), Kohl's (NYSE: KSS - News), Home Depot (NYSE: HD - News), TJX Companies (NYSE: TJX - News), Jack in the Box (NYSE: JBX - News), Deere (NYSE: DE - News)
Cramer would look into buying scientific-instruments producer TMO before its analyst meeting on Tuesday. He also likes retailers JCP, KSS which report Thursday, and he thinks the downside has been priced into the stocks. Cramer is currently bullish on retail, and would buy half a position in HD before its Tuesday report, since he believes its management is developing "retail-savvy." Tuesday is also the day Cramer believes investors will see a "terrific" report from TJX and a "gigantic beat" from JBX, and he would buy ahead. However, Cramer would wait until after DE's report on Wednesday before buying, because the stock has increased, and he would wait for a selloff and a price drop.
CEO Interview: Mark Shapiro, Six Flags (NYSE: SIX - News)
Mark Shapiro is looking forward to an "extremely good summer season" given the number of group sales and season passes SIX has already sold. Meanwhile, the company has been investing in more aggressive marketing, employee training and recruiting. Although the weather is an unknown variable, Shapiro's aim is to "increase value proposition for our guests." Cramer remarks Shapiro is "good to go" and is sticking with Six Flags.

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Labels: BSX, DE, HD, JBX, JCP, Jim Cramer, JNJ, KCI, KSS, Mad Money, SIX, SNN, TJX, TMO

Bullish:
Apple (NasdaqGS: AAPL): 'I said, at $85 and change it was anointed. It's up $8....because they indeed blew away the numbers.'Savient Pharmaceuticals (NasdaqGM: SVNT): ' ... still like it as much as I did at the beginning of the year. I like their uric acid product. I'm not backing away.'BioMarin Phramaceutical (NasdaqGM: BMRN):' I know people were disappointed in that last quarter. I think it's a mistake. BMRN is a good biotech stock, and a takeover target.'AT&T (NYSE: T)State Street (NYSE: STT): 'I think that the mutual fund clearing business is a great business, a great way to participate in this rally. STT is a thumb and a half up.'Pozen (NasdaqGM: POZN): 'They get that migraine stuff... I mean, this company... There are so many ways to win.'Nastech Pharmaceutical (NasdaqGM: NSTK): ' ... we identified at $10 and it went to $13.50. I'm going to join you on the buy side there. I think you're in good shape. Buy, buy, buy!'Burger King (NYSE: BKC): ... it's been on fire. BKC is a reformed, better outfit. It's really good ... easily, easily going up to $26-$27.'McDonald's (NYSE: MCD)Parker-Hannifin (NYSE: PH): 'Do not lose heart! That was a beautiful quarter. They will find it ... Even though it's been up a lot in the last year... you say I want some PH, and then you get the stampede. That stock is going to $100.'Tellabs (NasdaqGS: TLAB): 'Quite frankly, I thought the stock should have been single digits after that call ... I smell merger. I smell buyout. I smell takeout. Sit with your TLAB. I think something good is going to happen.'Thermo Fisher Scientific (NYSE: TMO): Have much have we liked TMO?... 52-week-high? No, no. More ahead. $50 goes to $60, TMO!'Trinity Industries (NYSE: TRN):Charter Communications (NasdaqGM: CHTR): 'CHTR's minding its own business, going higher ... CHTR, it reports May 2nd. I like the stock very much.'
Bearish calls:
MetroPCS Communications (NYSE: PCS): 'Let's not be too greedy. That stock has had a run. The other ones haven't. I'd actually be more conservative.'Simon Property Group (NYSE: SPG): 'Let that one come in. The commercial real estate market has had a great run. It's not where I want to be right now.'XM Satellite Radio (NasdaqGS: XMSR): 'No. That's a bleeding contest. That's one of those where you're darned if you do and darned if you don't. The congress won't let these two companies merge.'
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Labels: AAPL, BKC, Jim Cramer, Lightning Round, Mad Money, PCS, PH, SPG, STT, SVNT, TMO, TRN, XMSR

Transocean (NYSE: RIG - News): ' I am going to reiterate that the driller of the year is RIG. This is it! This is the cheap one, and last week, at the A.G. Edwards' conference, they indicated they favor consolidation... That's how you picked up a quick $5, and we are not done yet.'Washington Mutual (NYSE: WM - News): 'This is a very tough call because, in the end, WM has bigger risk, and bigger reward... 'Bank of America (NYSE: BAC - News): 'BAC is a well-run bank with a good dividend ... best-in-breed is BAC.'Thermo Fisher Scientific (NYSE: TMO - News): 'TMO is the arms merchant to biotech. I have liked the stock. When they're in there giving each other the business, and they need equipment, they buy TMO, and therefore I am in favor of it.'Western Union (NYSE: WU - News): 'This company is now on all cylinders. The Mexican business is great.'Freeport-McMoRan (NYSE: FCX - News)Best Buy (NYSE: BBY - News): 'I know this stock has been a dog. I mean it's just been awful. I also know that I have liked it throughout this period... I believe that you have to hold onto it, but the payoff may not be immediate. ... Stay long.'Lundin Mining (AMEX: LMC - News): 'LMC is better than your stock. I would rather see you in that stock at $11, $1.50 below its high, I would buy LMC! That's the copper and zinc play and I say back up the truck LMC, after the copper breakout...'BigBand Networks (NasdaqGM: BBND): 'BBND is one of my favorite new IPOs! I say hold onto it. This is one of the best performers already, and I think it's only going to get better!'Cisco (NasdaqGS: CSCO): 'Many people have taken shots at it ... They are all wrong! It's the best networker in the game. I think it has a big upside surprise and, not only do I want to stay with CSCO, I want to pull the trigger right here!'
Bearish calls:
Helix Energy (NYSE: HLX - News): ' I say swap out of HLX, and get into RIG!'Northern Orion Resources (AMEX: NTO - News): 'I think it's interesting ... LMC is better than your stock.'
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Labels: BAC, BBY, CSCO, FCX, HLX, Jim Cramer, Lightning Round, LMC, Mad Money, NTO, TMO, WM, WU

Labels: CHRW, EXPD, FIG, GS, HAL, HCBK, Jim Cramer, KBR, Lightning Round, Mad Money, MPEL, NFI, NTRI, QCOM, RIG, SHLD, SUNW, TMO

Bullish calls:
Qualcomm (NasdaqGS: QCOM): 'QCOM has finally gotten it together. There are tremendous buyers of this stock right here ... Cramer says this thing is finally go into the mid-40s and then let's make a judgment.'Transocean (NYSE: RIG - News): 'Holy cow, this business is on fire. I would actually swap out of BJS and I would go into RIG... It's just much, much cheaper.'Melco PBL Entertainment (NasdaqGM: MPEL): 'Finally we got this thing bouncing. This stock has been actually a living, breathing nightmare ... Opportunity is finally knocking. I would hold onto it.'C.H. Robinson Worldwide (NasdaqGS: CHRW): 'I liked the quarter from CHRW, and I think right now, you should swap out of EXPD and go into CHRW.'Halliburton (NYSE: HAL - News): 'I have been patient. They had the spinoff of KBR and, if they don't use that to buy back in a self tender or very high price a lot of stock, then I will have to eat my hat.'Goldman Sachs (NYSE: GS - News)Sears (NasdaqGS: SHLD) Thermo Fisher Scientific (NYSE: TMO - News): 'We recommended this stock a couple of smackers ago. It has been going up - it pulled back from $50 ... I think you've got to not only stick with it, I think you've got to buy more [back up the truck sound].'Sun Microsystems (NasdaqGS: SUNW): 'I am starting to warm up to that.'
Bearish calls:
BJ Services (NYSE: BJS - News): ' Let me tell you how hard this business has become ... I don't like BJS as much as RIG. I would actually swap out of BJS and I would go into RIG... It's just much, much cheaper.'Hudson City Bancorp (NasdaqGS: HCBK): 'We want to get behind it, because it is the best lender in the Northeast. We can't do it until we see cuts. Don't buy, don't buy. But I am warming up to it.'Expeditors International of Washington (NasdaqGS: EXPD): ' You know, I didn't like that quarter. I liked the quarter from CHRW, and I think right now, you should swap out of EXPD and go into CHRW.'NutriSystem (NasdaqGS: NTRI): 'I didn't like what they did. They did first the lowball a couple of weeks ago...Then today they surprised to the upside on the lowball, taking the stock up 8 points in the after hours. I want to ring the register. I've had enough with NTRI. I'm about the money, and I've had enough of these guys.'Fortress (NYSE: FIG - News)Teva Pharmaceutical (NasdaqGS: TEVA): 'No. I don't like the generics.'Novastar (NYSE: NFI - News): 'No, not a chance. Not a chance my friend. I'm staying away from that group.'
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Labels: BJS, CHRW, EXPD, FIG, GS, HAL, HCBK, Jim Cramer, Lightning Round, Mad Money, MPEL, NFI, NTRI, QCOM, RIG, TMO

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

Gilead Sciences (NASDAQ: GILD - News), Thermo Fisher Scientific (NYSE: TMO - News)
Cramer would buy GILD before Tuesday's J.P. Morgan Healthcare Conference, which should give the stock a bounce. Cramer thinks that 2007 will be a good year for biotech in general, and he comments that GILD has a great pipleline and "the best portfolio of HIV drugs on the market." However, The Street is not yet comfortable with GILD's Myogen acquisition, and once fears are put to rest at the conference, Cramer predicts that there will be increased interest in the stock. Cramer would also buy TMO before the company makes its presentation at the conference at 11 a.m on Tuesday, and this "coming out party" and its merger with Fisher Scientific should have a beneficial effect on the stock. Cramer calls TMO the "premier arms supplier to the whole pharmaceutical business" and although it is not a pure play, its end markets are strong. He notes that analysts have been "falling over themselves" to raise estimates, and they still don't realize what a "powerhouse" TMO is, since it will be able to cut costs, increase margins and see 32% growth in 2007. "It's the biggest, the best and deserves to trade at a premium to other life sciences companies," Cramer said, noting that it is cheaper than its rivals.
Related: Gilead paid a high premium to acquire Myogen.
Optium (NASDAQ: OPTM - News)
Cramer declared that OPTM was the most overlooked IPO of 2006 because it was unfairly lumped together with other telcos. He would pick up this "overlooked and written off" stock because it has a triple play of internet, TV and radio. In addition, it is the "optical infrastructure play we have been hoping for, " and has tripled its backlog. Since OPTM is speculative, Cramer suggests doing research before buying, and says that those who find the company's technology hard to understand should move on to something else.
Related: Tiernan Ray discusses Optimum's IPO and other optical stocks.
CEO Interview: Peter Marrone, Yamana Gold (AMEX: AUY - News)
Cramer asked Peter Marrone to explain how AUY has such low finding costs and why it is a good option for those who want to invest in gold stocks rather than in gold itself. Marrone explained that Yamana has large mines, and thanks to the size and scope of operations, AUY can produce gold at a low cost. He went on to say that the cash cost of producing AUY's gold is low because of its byproduct credits from copper production, and that its costs for 2007 to 2008 will actually be negative. When Cramer asked about potential acquisitions, Marrone replied that there may be some opportunities in Latin America once AUY's stock price is consistent with its peers. Cramer recommended AUY as a strong gold stock.
Related: The Wall Street transcripts roundtable on gold stocks for 2007.
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Labels: AUY, GILD, Jim Cramer, Mad Money, OPTM, TMO

Ambac (NYSE:ABK - News) was upgraded to overweight from equal-weight at Morgan Stanley
Andersons Inc. (NASDAQ:ANDE - News) was upgraded to buy from neutral at Banc of America Securities. The firm also lifted its price target on the stock to $52 from $44.
Bear Stearns (NYSE:BSC - News) said its fourth quarter net income rose 38% to a record $562.8 million, or $4 a share on total revenue of $4.47 billion. A year ago, the company earned $407 million, or $2.90 a share, on $3.18 billion total revenue. Analysts polled by Thomson Financial, on average, expected the company to earn $3.36 a share on revenue of $2.20 billion.
Cadence Design Systems (NASDAQ:CDNS - News) priced offerings of senior convertible notes worth a total of $500 million. The company said the initial conversion rate for both the 2011 notes and the 2013 notes is 47.2813 common shares per $1,000 in principal amount of notes for a conversion price of about $21.15.
Carrizo Oil & Co. (NASDAQ:CRZO - News) was initiated with an outperform rating at RBC Capital Markets.
Ciena Corp. (NASDAQ:CIEN - News) reported fiscal fourth-quarter earnings of $13.1 million, or 14 cents a share, up from a year-ago loss of $252.9 million, or $3.06 a share. Last year's results included a total charge of $222.3 million related to impairment of goodwill and long-lived assets. On an adjusted basis, excluding items, the Linthicum, Md., maker of optical networking products earned $14.6 million, or 16 cents a share, in the latest quarter. Revenue rose 35.3% in the three months ended Oct. 31 to $160 million from $118.2 million in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was for a profit of 13 cents a share in the October period on revenue of $160 million. Looking ahead, Ciena said it expects low single-digit revenue growth in the first quarter on a sequential basis.
Costco Wholesale (NASDAQ:COST - News), the Issaquah, Wash., warehouse retailer, reported fiscal first-quarter net income rose 9.8% on 9.4% higher revenue. For the 12 weeks ended Nov. 26, Costco profit rose to $236.9 million, or 51 cents a share, from $215.8 million, or 45 cents, in the year-earlier period. Revenue reached $14.15 billion from $12.93 billion. Net sales rose 9% to $13.85 billion. Same-store sales -- revenue from stores open at least a year, eliminating the effects of acquisitions and divestitures -- rose 4%. A survey of analysts by Thomson First Call produced consensus estimates of 50 cents of profit on $14.06 billion of sales for Costco. The retailer also said it would take a second-quarter charge of $45 million as it increased the exercise price on certain stock options for more than 1,000 employees who are U.S. taxpayers. It said that it's making the changes in line with its internal stock-option inquiry and with a Nov. 30 ruling by the U.S. Internal Revenue Service. The company also said it would make payment to the employees to reduce the adverse tax effects of the move.
Cousins Properties Inc. (NYSE:CUZ - News) was upgraded to overweight from equal-weight at Lehman Bros. The firm also lifted its price target on the stock to $38 from $35.
Empire Resources (AMEX:ERS - News) said its board has declared a special dividend of 16 cents a share for the fourth quarter, in addition to its regular quarterly payout of 5 cents a share. The dividends are to be paid on Jan. 17 to shareholders of record on Dec. 29. The Fort Lee, N.J., distributor of semi-finished aluminum products also said its board plans to review its internal dividend policy on a quarterly basis.
First Potomac (NYSE:FPO - News) was upgraded to buy from neutral at Merrill Lynch.
Ford Motor (NYSE:F - News) was upgraded to neutral from sell at Merrill Lynch, which said the automaker's efforts to raise liquidity have been more successful than previously expected. Analyst John Murphy believes the next move by Ford's chief executive Alan Mulally will be to unveil a new operating plan at the Detroit auto show in mid-January. "It is tough to believe that a turnaround can be affected in short order, but clarity on Mulally's plan could be viewed positively by the market," Murphy said in a research note. "Furthermore, Ford's new liquidity position may allow it to be tougher or more creative in the course of negotiating a contract with the United Auto Workers in 2007."
GenVec (NASDAQ:GNVC - News) shares leapt after the Gaithersburg, Md.-based biopharmaceutical company said an independent data safety monitoring board has completed its interim analysis of safety data from the ongoing Phase II/III clinical trial with TNFerade in locally advanced pancreatic cancer. The DSMB recommended that the trial continue, GenVec said, and also supported the use of endoscopic ultrasonography as an alternative to percutaneous tumor administration. GenVec said it has provided its interim safety data to the Food and Drug Administration and is waiting for final clearance to move forward with EUS administration.
Great Wolf Resorts (NASDAQ:WOLF - News) was upgraded to buy from hold at A.G. Edwards.
Honeywell International (NYSE:HON - News) said it expects earnings of $2.85 to $2.95 a share for fiscal 2007, a performance that would represent growth of between 13% and 17%. It sees sales growing about 5% to $32.6 billion for 2007. The Morris Township, N.J., diversified technology and manufacturing products company sees 2007 cash flow from operations of between $3.2 billion and $3.4 billion for the year with free cash flow projected between $2.4 billion and $2.6 billion. The current average estimate of analysts polled by Thomson First Call is for earnings of $2.93 a share in fiscal 2007 on revenue of $32.75 billion. The Dow component also confirmed an outlook for earnings of $2.51 to $2.53 a share in fiscal 2006 on sales of roughly $31.2 billion. Wall Street's current consensus estimate for 2006 is for earnings of $2.52 a share on revenue of $31.15 billion.
Icos (NASDAQ:ICOS - News) issued a 2006 and 2007 financial forecast early Thursday, ahead of a planned December 19 special shareholders meeting where stockholders will vote on whether to accept partner Eli Lilly's takeover offer of $32 a share in cash. For the fourth quarter 2006, Icos sees earnings of 17 to 22 cents a share, with full-year earnings of 33 to 38 cents a share. Including taxes, Icos expects fourth quarter results of 26 to 34 cents a share, and 49 to 57 cents for the full year 2006. For 2007, Icos is expecting earnings per share of 78 to 94 cents a share. Including taxes, the 2007 range is earnings per share of $1.17 to $1.41. Icos and Lilly co-market the erectile dysfunction drug Cialis.
Insmed (NASDAQ:INSM - News) shares surged after the biopharmaceutical company said recent study results confirm that Iplex, a treatment for growth failure, allows more flexibility in handling and administration for patients and caregivers.
Input/Output Inc. (NYSE:IO - News) said it's received a contract to provide 14 of its land seismic imaging systems to Oil and Natural Gas Corp. Ltd., India's national oil company. The company said the deal is worth more than $50 million.
Journal Register Co. (NYSE:JRC - News) agreed to sign on to Google's Print Ad program, which allows current Google advertisers to buy ads in print newspapers. Journal Register said its flagship newspaper, the New Haven (Conn.) Register, will participate in the partnership. Financial terms were not disclosed. More than 50 major newspapers are currently a part of the Google program, including the New York Times, the Boston Globe, the Washington Post and the Seattle Times. Newspapers are seeking ways to increase print ad revenue, which has been on the decline for several years as more readers turn to the Internet for news and information, and several traditional newspaper advertisers have fallen on hard times.
Liberty Media Holding Corp. (NASDAQ:LCAPA - News) was upgraded to buy from hold at Deutsche Bank Securities.
LodgeNet Entertainment Corp. (NASDAQ:LNET - News) agreed with Liberty Media to purchase Ascent Entertainment Group Inc., which owns On Command Corp., for $380 million. The purchase will be paid at closing by issuing 2.05 million LodgeNet shares, and $332 million in cash.
Microsoft Corp. (NASDAQ:MSFT - News) and Hewlett-Packard (NYSE:HPQ - News) said they have entered a 3-year agreement to sell technology products and services. The companies said they would invest at least $300 million to cover their collaborative efforts.
Nuance Communications (NASDAQ:NUAN - News) was initiated with a buy rating at Citigroup Investment Research.
Pacer International (NASDAQ:PACR - News) was initiated with a buy rating at Key Banc Capital Markets.
PGT Inc. (NASDAQ:PGTI - News) was upgraded to buy from neutral at SunTrust Robinson Humphrey. The firm cited valuation.
Stanley Works (NYSE:SWK - News) agreed to acquire HSM Electronic Protection Services, a provider of security alarm monitoring services based in Lisle, Ill., for $545 million. Stanley expects the deal to close in early 2007. It anticipates the transaction will be neutral to earnings in 2007 before adding 20 to 25 cents a share to earnings by 2009, the third year, and 35 to 35 cents a share to earnings by 2011, the fifth year.
Suntech Power Holdings (NYSE:STP - News) was initiated with a buy rating at Jefferies & Co.
Supervalu (NYSE:SVU - News) said it now expects fiscal 2007 per-share earnings of $2.32 to $2.43, up from its previous range of $2.18 to $2.41. The Minneapolis-based supermarket operator also narrowed its 2007 pro forma view, saying it sees per-share earnings of $2.66 to $2.74. The previous pro forma earnings view was $2.62 to $2.80 a share for the year.
Thermo Fisher Scientific (NYSE:TMO - News) estimated fourth-quarter adjusted earnings at 52 cents to 54 cents a share and increased its estimates of adjusted earnings for 2006 and 2007. A survey of analysts by Thomson First Call produced a consensus estimate of 53 cents for the quarter. For 2006, Thermo Fisher expects to earn an adjusted $1.83 to $1.86 a share on revenue of $8.8 billion. Thermo Electron and Fisher Scientific merged early in November; the revenue estimate is pro forma, as if the two companies had been combined for the full year. First Call projects earnings of $1.81 for 2006. In 2007, the company expects to earn $2.35 to $2.45 a share, compared with its previous estimate of $2.27 to $2.37.
Topps Co. (NASDAQ:TOPP - News) was initiated with a buy rating at Morgan Joseph & Co. The firm set a price target on the stock of $11.
Shares in Worthington Industries (NYSE:WOR - News) jumped after Prudential Equity Group released a note late Wednesday speculating that the Columbus, Ohio-based steel processor would be a likely target for No. 1 steel maker Mittal Steel (NYSE:MT - News), the main subsidiary of Arcelor Mittal . Prudential analyst John Tumazos noted Mittal has made public statements indicating an interest in owning steel distribution assets in the U.S. Worthington "would effectively satisfy MT's requirements," said Tumazos, adding he had no inside information about any deal.
-MarketWatch

Labels: ABK, ANDE, BSC, CDNS, CIEN, COST, CRZO, CUZ, ERS, F, FPO, GNVC, HON, ICOS, INSM, IO, JRC, SVU, TMO, WOLF