NPWS - Office of Naval Research Finalizes 2006 Appropriation of $1.4 Million to Neah Power Systems:
Neah Power Systems, Inc. (NPWS), a leading developer of fuel cells for military applications, notebook computers and portable electronic devices, announced it has received a contract award from the Office of Naval Research entitled "Design of High Power Density Direct Methanol Fuel Cell Stack Utilizing Porous Silicon Electrodes" in the amount of approximately $1.4 million. Based on the 2006 Department of Defense budget appropriation, the contract has a 12-month period of performance and revenue will be collected based on cost reimbursements.
(Link to complete article)
http://biz.yahoo.com/bw/070717/20070717005365.html?.v=1
Dow Stock News
Reuters reports that net income at IBM (IBM) rose 12% on strength in its software business.
According to The Wall Street Journal, the IRS is seeking data from Citigroup (C) and Lehman (LEH) to determine whether some derivative trades were set up to avoid taxes.
FT reports that a new survey shows that HP (HPQ) further increased its global lead in PC sales over Dell (DELL).
IBM - price target raised to $134 at Smith Barney back to top
Ice Man Stocks
For a printable version of the Ice Man's picks, <print.shtml>click here.
Breakouts the Ice Man may consider trading:
CSCT - 19.50
ESI - 121.35
SLQ - 14.35
APA - 87.80
NVT - 46.40
MHS - 81.90
PBR - 70
Regular Trades the Ice Man may consider:
LUFK - 68.10 = 73.25 Gap
STX - 23.80
MNT - 42.10
UPL - 58.80
RSYS - 12.90
TCHC - 11.85
CBST - 20.20 Depressed stocks the Ice Man may buy:
Dollar Man Ideas:
HL - 9.40
CDE - 4.25
TGB - 4.50
GSS - 4.20
CRWN - 7.60
ENCY - 2.10
Media Commentators
Cramer's Comments:
Bullish: SI, ASD
Bearish: Homebuilders, Banks, Brokers
Ice Cold Commentators
Break Man Video Summary:
Break out buy watch list for short term gains July 19 includes: MCD, RTEC, SLR, ESEA, GSS, JDAS, TD.
Several candidates for break out or pullback plays for at least short term gains by buying the break out on good volume and selling at least some on the first day.
http://stocktiger.com
Swing Man Market Recap:
News and Events Digest
Breaking News
Telecom Italia is seen selling the stake for slightly more than $500 million, less than the $600 million it paid when the Brazilian company was privatized in 1998. However, according to "a person familiar with the deal," the comparison doesn't reflect changes in the value of the Brazilian telecommuncations company's assets over the period, the FT said. - MarketWatch
Insurer UnitedHealth Group Inc. said Thursday that second-quarter profit rose 22 percent, beating analyst estimates, as premium revenue increased and operating margins improved, but an important medical-cost gauge worsened from the first quarter.
Net income increased to $1.2 billion, or 87 cents per share, from $981 million, or 70 cents, a year earlier. Analysts, on average, expected 81 cents per share. - CNN
SunPower Corporation (SPWR), a Silicon Valley-based manufacturer of high efficiency, commercially-available solar cells, solar panels, and solar systems, today announced that it has filed preliminary prospectus supplements with the Securities and Exchange Commission relating to proposed public offerings of 2,450,000 shares of class A common stock and $175 million aggregate principal amount of senior convertible debentures, due 2027. The Company has the right to redeem the debentures beginning August 1, 2010. Holders of the debentures may require the Company to repurchase the notes on August 1, 2010, August 1, 2015, August 1, 2020 and August 1, 2025. SunPower intends to grant the underwriters of the proposed offering of class A common stock an option to purchase up to an additional 367,500 shares of class A common stock, and to grant to the underwriters of the proposed offering of debentures an option to purchase up to an additional $25 million aggregate principal amount of debentures.
Media Summary:
According to Reuters net income at Ebay (EBAY) rose 50%.
Reuters writes that Vodafone's (VOD) revenue rose 7.5% on substantial growth in emerging markets.
The Wall Street Journal writes that Nestle and Pepsi (PEP) held merger talks in the spring.
The Wall Street Journal reports that Clearwire (CLWR) and Sprint (S) are near a deal that would allow each company's subscribers to use the others WiMax network while roaming.
The Wall Street Journal reports that Google (GOOG) executives will be asked to appear before Congress to address issue on its purchase of DoubleClick.
The WSJ reports that Honda (HMC) will begin to sell cars a newly developed car into China.
The New York Times reports that Ford (F) expects bid for Jaguar and Rover today.
The NYT reports that the National Petroleum Council says that energy demand will rise 50% over the next 25 years.
Barron's reports that Juniper (JNPR) reported sharp improvement in Q2 revenue.
IPO Central:
MF Global Ltd. (MF) priced 97.38 million share sat $30, raising $2.9 billion as the second-richest initial public offering of the year. The brokerage unit of U.K.-based hedge fund giant Man Financial discounted the IPO from its estimated price range of $36-$39 a share. Only the $4.1 billion IPO from The Blackstone Group surpassed the deal in size this year. - MarketWatch
Netezza Corp. (NZ) said Thursday it priced 9 million shares at $12 a share, raising $108 million in its initial public offering on Thursday. The Framingham, Mass. provider of data warehouse appliances priced above its $9-$11 range in a sign of strong interest. - MarketWatch
M&A Activity:
Williams Scotsman Inc. (WLSC), a provider of mobile storage containers for the construction industry, on Thursday agreed to be bought by privately held European modular construction firm Algeco for about $1.24 billion. - AP
recent stock split announcements:
On July 11, Aeropostale, Inc. (NYSE:ARO) announced that its board of directors approved a 3:2 stock split to be distributed on or about August 21, 2007.
On July 12, FCStone Group, Inc. (Nasdaq:FCSX) announced that its board of directors approved a 3:2 stock split to be distributed on September 27, 2007.
On July 12, AAON, Inc. (Nasdaq:AAON) announced that its board of directors approved a 3:2 stock split to be payable on August 21, 2007.
On July 17, Healthcare Services Group, Inc. (Nasdaq:HCSG) announced that its board of directors approved a 3:2 stock split to be payable on August 10, 2007.
On July 18, FMC Technologies, Inc. (Ticker: FTI) announced that its board of directors approved a 2 for 1 stock split.
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Companies that have previously announced stock splits which become effective in the next several trading days.
Ex-Date Split Symbol Company
7/23 2:1 IOSP Innospec Inc.
7/30 3:1 GMCR Green Mountain Coffee Roasters
7/31 3:2 DIOD Diodes Incorporated
8/3 2:1 SJR Shaw Communications, Inc.
Economic Data:
8:30 Initial Claims
10:00 Leading Indicators
12:00 Philadelphia Fed
2:00 FOMC minutes
Upgrades and Downgrades by Sector:
FDRY - price target raised to $20 at Jefferies
AEO - Oppenheimer is a buyer
Education:
DV - upgraded to Overweight at JP Morgan
Wireless Communications:
VIP - downgraded to Hold at Smith Barney
Internet Software & Services:
FFIV - price target raised to $100 at Jefferies
Aerospace
ORB Orbital Sciences Friedman Billings Price Target Raised Outperform $27 to $30
Biotech
ENCY Encysive Pharma Rodman & Renshaw Upgraded from Mkt Underperform to Mkt Perform
CYTK Cytokinetics Credit Suisse Initiated at Outperform $11
OMRI Omrix Biopharma Brean Murray Cut Price Target Buy $47 to $41
Business Services
MINI Mobile Mini Credit Suisse Initiated at Neutral $33
NUAN Nuance Communications First Albany Initiated at Neutral
MMS MAXIMUS Friedman Billings Coverage Dropped
MTCT MTC Tech Friedman Billings Coverage Dropped
Computer Hardware
FFIV F5 Networks Jefferies & Co Price Target Raised Buy $85 to $100
DRCO Dynamics Research Friedman Billings Coverage Dropped
Computer Software
CTSH Cognizant Tech Susquehanna Financial Upgraded from Neutral to Positive
CTXS Citrix Systems Jefferies & Co Upgraded from Hold to Buy $30 to $42
CTXS Citrix Systems Robert W. Baird Upgraded from Neutral to Outperform $38 to $45
SAY Satyam Computer Susquehanna Financial Upgraded from Neutral to Positive
CTXS Citrix Systems Stifel Nicolaus Price Target Raised Buy $39 to $45
CTXS Citrix Systems Kaufman Bros Price Target Raised Buy $38.50 to $41
CTXS Citrix Systems Needham & Co Price Target Raised Buy $38 to $40
CTXS Citrix Systems Credit Suisse Price Target Raised Outperform $43 to $45
CTXS Citrix Systems Friedman Billings Price Target Raised Mkt Perform $35 to $36
TYL Tyler Tech Friedman Billings Coverage Dropped
JPM JP Morgan Chase CIBC Wrld Mkts Upgraded from Sector Perform to Sector Outperform
NTC Intel Charter Equity Initiated at Buy
Educational Services
ESI ITT Educational First Analysis Sec Downgraded from Overweight to Equal-Weight
Finance Companies
PJC Piper Jaffray Wachovia Upgraded from Mkt Perform to Outperform
Foods
CRESY Cresud SA HSBC Securities Initiated at Neutral
FLOW Flow Matrix Research Downgraded from Hold to Strong Sell
Healthcare
CBST Cubist Pharma Lazard Capital Upgraded from Sell to Hold
CBST Cubist Pharma Stifel Nicolaus Price Target Raised Buy $24 to $26
MOGN MGI Pharma Brean Murray Price Target Raised Buy $27 to $30
ISIS ISIS Pharm Jefferies & Co Initiated at Buy $17
RIGL Rigel Pharms Credit Suisse Initiated at Outperform $12
Healthcare Equipment
STJ St. Jude Medical Wachovia Upgraded from Mkt Perform to Outperform
ICUI ICU Medical Soleil Downgraded from Buy to Hold $51 to $44
NKTR Nektar Therapeutics Friedman Billings Cut Price Target Mkt Perform $14 to $8
Healthcare Facilities
GHDX Genomic Health JMP Securities Price Target Raised Mkt Outperform $26 to $31
Healthcare Services
CAH Cardinal Health Credit Suisse Downgraded from Outperform to Neutral $79 to $76
Hotels and Motels
HIH Highland Hospitality Friedman Billings Coverage Dropped
Insurance
PROS ProCentury Friedman Billings Upgraded from Mkt Perform to Outperform $19
MTG MGIC Investment Friedman Billings Cut Price Target Outperform $75 to $65
Manufacturing
RBC Regal-Beloit Robert W. Baird Upgraded from Neutral to Outperform $51 to $63
APH Amphenol Stifel Nicolaus Price Target Raised Buy $40 to $44
ENER Energy Conversion Jefferies & Co Cut Price Target Buy $47 to $36
Mining - Steel & Iron
IPS IPSCO CIBC Wrld Mkts Coverage Dropped
Multi-National Banks
MI Marshall & Ilsley Stifel Nicolaus Cut Price Target Buy $54 to $51
Oil and Gas
BAS Basic Energy Services Banc of America Sec Initiated at Neutral $25
BHI Baker Hughes Banc of America Sec Initiated at Buy $97
BJS BJ Services Banc of America Sec Initiated at Neutral $29
CLB Core Labs Banc of America Sec Initiated at Neutral $108
CPX Complete Production Services Banc of America Sec Initiated at Neutral $24
DRQ Dril-Quip Banc of America Sec Initiated at Buy $55
FTI FMC Tech Banc of America Sec Initiated at Buy $105
GRP Grant Prideco Banc of America Sec Initiated at Buy $67
HAL Halliburton Banc of America Sec Initiated at Buy $40
KEGS Key Energy Services Banc of America Sec Initiated at Neutral $19
NOV Natl Oilwell Varco Banc of America Sec Initiated at Neutral $122
SII Smith Intl Banc of America Sec Initiated at Buy $72
SLB Schlumberger Banc of America Sec Initiated at Buy $107
WFT Weatherford Banc of America Sec Initiated at Buy $62
SUN Sunoco Bernstein Downgraded from Mkt Perform to Underperform
VLO Valero Energy Bernstein Downgraded from Mkt Perform to Underperform
WNR Western Refining Credit Suisse Downgraded from Neutral to Underperform $30 to $48
Regional Banks
CYN City National Friedman Billings Price Target Raised Mkt Perform $75 to $77
REITs
EGP EastGroup Morgan Keegan Initiated at Outperform
Restaurants
SBUX Starbucks CIBC Wrld Mkts Cut Price Target Sector Outperform $35 to $34
Retail Trade
EBAY eBay Stifel Nicolaus Price Target Raised Buy $37 to $39
BBW Build-A-Bear Workshop Stifel Nicolaus Cut Price Target Buy $33 to $29
DSW DSW Lehman Brothers Upgraded from Equal-weight to Overweight
Savings & Loan
AF Astoria Fincl Friedman Billings Cut Price Target Mkt Perform $31 to $27
DSL Downey Fincl Friedman Billings Cut Price Target Outperform $92 to $85
Semiconductors
SWKS Skyworks Deutsche Securities Upgraded from Sell to Hold $5.50 to $8.50
CAVM Cavium Networks Needham & Co Price Target Raised Buy $25 to $30
ISIL Intersil Stifel Nicolaus Price Target Raised Buy $35 to $37
SWKS Skyworks Credit Suisse Price Target Raised Neutral $8.50 to $9
SWKS Skyworks CIBC Wrld Mkts Price Target Raised Sector Outperform $8 to $9.50
AATI - downgraded to Neutral at Merrill
Telecommunications
JNPR Juniper Networks Robert W. Baird Upgraded from Neutral to Outperform $25 to $32
JNPR Juniper Networks Credit Suisse Price Target Raised Neutral $22 to $27
JNPR Juniper Networks JMP Securities Price Target Raised Mkt Outperform $23 to $31
HSTX Harris Stratex Morgan Joseph Initiated at Buy $22
Transportation
CSX CSX Corp Calyon Securities Upgraded from Reduce to Neutral $34 to $46
CP Canadian Pacific RBC Capital Mkts Downgraded from Outperform to Sector Perform
Utilities
SRE Sempra Energy Wachovia Upgraded from Mkt Perform to Outperform
VE Veolia Environnement Brean Murray Upgraded from Hold to Buy $90