Friday Morning, June 29th
SITE NEWS
New IceMD Recording:
Stem cells- A Possible New Approach
Toolbar Notice:
We are aware of a problem with the Ice Cold Stocks toolbar. Our engineers are working to fix the problem. Currently, the bug affect some XP users. The new build will work for Vista; however, the current version of the toolbar does not. We have no exact date for the new build, but we will announce it as soon as we have received and tested it.
Ice Cold Stocks
Dow Stock News
Reuters writes that GM (GM) has sold its Allison Transmission business for $5.6 billion.
The New York Times writes that the CEOs of AT&T (T) and Apple (AAPL) defended using a slower network for the iPhone.
Ice Man Stocks
Breakouts the Ice Man may consider trading:
OIIM - 11 * Best Bet
JDAS - 20.20
SYNO - 35.60 * Best Bet
Regular Trades the Ice Man may consider:
WBSN - 22.15
KCI - 51.60
ITWO - 19.10
UTSI - 5.60
HMIN - 32.70
DIVX - 15.20
Media Commentators
Cramer´s Comments:
Cramer´s lesson of staying in the game under what´s new at Ice Cold Stocks and the Education section.
Gorilla Trades:
Special Situation Picks:
NVE Corp. (NVEC)
New Potential Buys:
None
Ice Cold Commentators
Break Man Video Summary:
Swing Man Market Recap:
Stocks opened mixed Thursday morning, and after vacillating around SPX 1505 for a couple of hours it started to move higher. Nearing the FED's economic report card the SPX hit 1513. At 2:15 the FED reported to leave interest rates as is, pending the usual further incoming data. However, the tone of the report sounded a bit less accommodative.
'Economic growth appears to have been moderate during the first half of this year, despite the ongoing adjustment in the housing sector. The economy seems likely to continue to expand at a moderate pace over coming quarters. Readings on core inflation have improved modestly in recent months. However, a sustained moderation in inflation pressures has yet to be convincingly demonstrated. Moreover, the high level of resource utilization has the potential to sustain those pressures. In these circumstances, the Committee's predominant policy concern remains the risk that inflation will fail to moderate as expected.'
After the FED statement, market pulled back into the close. Bonds were about 1/4 point lower, Crude was up70 cents, Gold rallied $7.00, and the Euro was higher. At the close the SPX/DOW were 0.05% lower, and the NDX/NAZ were mixed. Otherwise nothing technically changed with the major index charts, therefore no need to go over them.
The airline sector is worth a look as it appears to be trying to put in a bottom. The downtrend line is major resistance. Two airline stocks that look interesting are JBLU over 11.5 and AMR which has the same pattern as XAL. Visit the swing man section to see the charts:
APOL was presented here a week ago as a swing trade and continues to hold up well; the targets are 53 and 55.
EC, presented previously as a swing trade, has broken out of the wedge; target is 37.
Swing trade ACTG is doing well; place a stop at 14.50; target is 16.50.
Visit Matthew Frailey and see more of his work at:
http://www.breakpointtrades.com/
CNBC Fast Money Review
1. Word on the Street
Summer Swoon Continues
Macke: Many traders taking of for July 4th holiday.
Barreling Toward $70
Bolling: Good news for energy stocks, USO, XLE.
What iPhone?
Najarian: RIMM on fire. Buy RIMM.
Bolling: AAPL, RIMM have different customers.
Macke: PALM has nothing for investors.
An Apple Play a Day
Najarian: VOD likely to be iPhone carrier in Europe.
Adami: Likes VOD.
Memory Loss
Najarin: Chips underowned sector.
Bed Bath & Beyond Bad
Macke: Get out and short BBBY on a bounce.
Bringing Down The House
Najarin: BZH made monster drop.
Transmission Accomplished
Adami: Buyer of F, GM, JCI.
Macke: Recommends F.
Bolling: GM, F charts look great.
Another Hilton in Trouble?
Najarian: Unusual activity in HLT August 35 calls. HLT could go higher.
Chartology: The Good, Bad, & The Ugly.
Bolling: SOV, WB, DISH charts not looking good. Stay away. CE, LTR charts look good.
2. The Top 3
Move Over Mickey
Macke: Ratatouille going to be bust.
Bolling: Own DIS at $30.
Najarian: Likes TWX more.
Room for Both Wals
Adami: Still likes RAD.
Macke: Also like RAD.
Bolling: RAD not bad for under $10 stock.
Bad Fish Trade
Bolling: China closed food processors. China won't ignore problem.
Najarian: Look at BIDU, up 100% since last year.
3. Final Trade
Macke: F is a buy.
Najarian: IMMR is a buy.
Adami: DELL is a buy.
Bolling: CVX is a buy.
News and Events Digest
Breaking News
Police have made safe an explosive device in London, according to media reports Friday. The BBC reported that the police cordoned off an area in The Haymarket region of central London at around 2:00 a.m. to examine a suspicious vehicle, which authorities said contained a "potentially viable explosive device." - MarketWatch
The U.S. Navy on Thursday awarded a $212.4 million contract to a unit of BAE Systems PLC (BAESY) to build 441 armored vehicles for American soldiers in Iraq.
Boston Private Financial Holdings Inc. (BPFH) has priced an offering of 20-year contingent convertible senior notes, the financial-services company said. The $250 million of notes will be sold to institutional investors, with proceeds to be used in part to repurchase about 1.5 million common shares. In addition, Boston Private's banking affiliate partners will be able to repay higher-cost debt used to finance outstanding loans as well as to fund future loan growth and investments. The notes, which will pay interest semiannually at a 3% rate, can be converted under certain circumstances into cash and, if applicable, shares of Boston Private common stock or a combination of cash and stock, at an initial conversion price of $33.37 a share, the company said. - MarketWatch
Media Summary:
According to Reuters, the Apple (AAPL) iPhone will hit stores today giving the mobile industry a jolt.
Reuters reports that the NBC CEO says that his company's decision to pass on Dow Jones (DJ) due to the size of the premium Rupert Murdoch would pay.
The Wall Street Journal writes that Research In Motion's (RIMM) profits rose 73% on the last quarter.
The Wall Street Journal reports that Qualcomm (QCOM) was rejected a patent dispute settlement that would have paid rival Broadcom (BRCM) over $1.5 billion.
The Wall Street Journal also reports that Netflix (NFLX) has lowered the cost of its service to match rival Blockbuster (BBI).
The Wall Street Journal writes that NBC and News Corp (NWS) have named a former Amazon exec to run their new online video joint venture.
The New York Times writes that music publisher EMI will sell music on new internet stores that can be added to other websites.
FT writes that global M&A deals rose 50% in the first half of the year.
Barron's writes that Palm (PALM) accounced disappointing quarterly results and poor guidance.
M&A Activity:
Aftermarket electronic trading activity Thursday was marked by a billion-dollar buyout in the disk storage space, and a strong earnings report for a smartphone maker.. Shares of Komag Inc., which makes thin-film media for disk drives, surged $2.24, or 7.8 percent, to $31.82. Hard disk drive maker Western Digital Corp. said it plans to acquire Komag for $1 billion in cash, or $32.25 per share. - AP
IPO Central:
IPOs on schedule for week 7/02/07:
Silver State Bancorp (SSBX). The company is a bank holding company based in Henderson, Nevada. The company is selling 3.2M shares at the initial range between $22-$24. The company announced Revenues for the last 12 months of $101M and Net Income of $22M. The Lead Managers are Sandler and Howe Barnes. Silver State Bancorp (SSBX) is headquartered in Henderson, NV and their website is
www.silverstatebancorp.com
.
Economic Data:
8:30 Personal Income
8:30 Personal Spending
8:30 Core PCE Inflation
9:45 Chicago PMI
10:00 Construction Spending
10:00 Michigan Sentiment-Rev
Stock Split Announcement:
InvestmentHouse (Ticker: RIMM) announced that its board of directors approved a 3 for 1 stock split.
Upgrades and Downgrades by Sector:
Advertising
FMCN Smith Barney Top Pick $75
Airlines
CPA Goldman Sachs Price Target Raised $99
LFL Goldman Sachs Downgraded to Sell $98
Apparel
CTRN Citi Trends First Albany Initiated at Buy $45
Biotech
NSTR Northstar Neuroscience Banc of America Sec Initiated at Buy $17
OMRI Omrix Biopharma Cowen & Co Initiated at Outperform
Business Services
SLR Solectron RBC Capital Mkts Upgraded from Underperform to Sector Perform
IMNY I-many Roth Capital Initiated at Buy $3.25
Chemicals
ROH Rohm and Haas Deutsche Securities Upgraded from Hold to Buy $55 to $65
MON Smith Barney Price Target Raised $77
Computer Hardware
KOMG Komag JP Morgan Upgraded from Underweight to Neutral
KOMG Komag Piper Jaffray Downgraded from Outperform to Market Perform
KOMG Komag Robert W. Baird Downgraded from Outperform to Neutral $31 to $32
KOMG Komag Deutsche Securities Downgraded from Buy to Hold $33
PALM Palm Deutsche Securities Downgraded from Hold to Sell $17.50 to $14
Computer Services
CHINA BMOC Initiated at Market Perform $11
Computer Software
ARBA Ariba CIBC Wrld Mkts Upgraded from Sector Underperform to Sector Outperform $12
COGN Cognos Friedman Billings Upgraded from Mkt Perform to Outperform $45 to $48
MFE McAfee Friedman Billings Price Target Raised Outperform $35 to $42
CHRD Chordiant Sftwr JMP Securities Downgraded from Strong Buy to Mkt Outperform $15 to $18
Computer Technology
ISLN Isilon Systems Friedman Billings Initiated at Outperform $30
Construction
FLR Fluor JP Morgan Upgraded from Neutral to Overweight
Educational Services
STRA William Blair Initiated at Outperform
Finance Companies
FNM Fannie Mae Citigroup Upgraded from Hold to Buy
ASFI Asta Funding Kaufman Bros Initiated at Buy $55
Foods
RAH Ralcorp Holdings BB&T Capital Mkts Upgraded from Hold to Buy
CPO Corn Products BB&T Capital Mkts Downgraded from Buy to Hold
Healthcare
SNTS Santarus Friedman Billings Upgraded from Mkt Perform to Outperform $7
SNTS Santarus Rodman & Renshaw Initiated at Mkt Outperform $8
CYH Community Health Deutsche Securities Upgraded from Hold to Buy $39 to $47
Household Goods
ROX Castle Brands Oppenheimer Downgraded from Buy to Neutral
Industrial Equipment
RBN Robert W. Baird Upgraded to Neutral
RBN Robbins & Myers Robert W. Baird Upgraded from Underperform to Neutral $40 to $49
Insurance
ENH Endurance Specialty Stifel Nicolaus Downgraded from Buy to Hold
MTG MGIC Investment UBS Downgraded from Buy to Neutral
PMI PMI Group UBS Downgraded from Buy to Neutral
Internet Services
PCLN Goldman Sachs Upgraded to Buy
BIDU Baidu.com Citigroup Price Target Raised Buy $150 to $195
Major Pharmaceutica
ENDP Endo Pharm Roth Capital Initiated at Buy $41
Oil and Gas
UNT Unit Corp Sun Trust Rbsn Hum Initiated at Buy $95
CRZO Carrizo Oil & Gas BMO Capital Markets Downgraded from Outperform to Market Perform
DO Jeffries Believes Drillers ar overpriced
Regional Banks
TCBI Texas Capital JP Morgan Initiated at Overweight
REITs
AHM American Home Mortgage Friedman Billings Downgraded from Mkt Perform to Underperform $25 to $15
Restaurants
CMG Chipotle Mexican Grill Citigroup Initiated at Buy $100
Retail-Shoes
DECK Deckers Outdoor Piper Jaffray Price Target Raised Outperform $77 to $110
Savings & Loan
FBTX Franklin Bank Corp JP Morgan Initiated at Underweight
Semiconductors
DIOD UBS Upgraded to Buy
DIOD Diodes UBS Upgraded from Neutral to Buy
NETL NetLogic UBS Upgraded from Neutral to Buy
BKHM Bookham Tech Roth Capital Initiated at Buy $3.20
Technology
EXLS ExlService Robert W. Baird Initiated at Outperform $25
Telecommunications
RIMM Research In Motion Morgan Keegan Upgraded from Mkt Perform to Outperform
RIMM Research In Motion JMP Securities Upgraded from Mkt Perform to Mkt Outperform $240
RIMM Research In Motion RBC Capital Mkts Upgraded from Outperform to Top Pick
RIMM Research In Motion Piper Jaffray Price Target Raised Market Perform $166 to $186
TSU TIM Participacoes JP Morgan Downgraded from Overweight to Neutral
Transportation
UACL Universal Truckload Services Morgan Keegan Initiated at Mkt Perform