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Icecoldstocks.com Thursday Morning, July 26th Market Summary

Thursday Morning, July 26th
 
   Dow Stock News
 
3M (MMM) on Thursday said its second-quarter net income rose to $917 million, or $1.25 a share, from $882 million, or $1.15 a share, in the year-ago period. The results include net gains of 2 cents a share in the second quarter of 2007, and 10 cents a share in the second quarter of 2006, due to special items. Net sales rose to $6.14 billion from $5.69 billion. Analysts, on average, expected it to earn $1.18 a share on revenue of $6.05 billion, according to Thomson Financial. The company, whose brands include Scotchgard and Thinsulate, raised its 2007 earnings forecast to a range of $5.40 to $5.60 a share vs. a prior estimate of $5.20 to $5.45 a share. The new guidance includes an estimated full year 2007 gain, net of costs from special items, of about 60 cents to 70 cents a share, primarily due to the completed sale of the company's branded pharmaceuticals business in Europe. 3M also expects full-year, local-currency sales growth, adjusted for the divestiture of its branded pharmaceuticals business, to be within a range of 7% to 10%, from its prior expected range of 6% to 10%. - MarketWatch
 
The Wall Street Journal also reports that Digg has hired Microsoft (MSFT) to handle its advertising sales. 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:
 
IDXX - 98.60 * Best Bet
BOOM - 41
 

Regular Trades the Ice Man may consider:
 
SWWC - 13.50 * Best Bet
SRCL - 44.75
MNT - 42.10
HIG - 97.75
IFN - 48
CRA - 13.25
 

Depressed stocks the Ice Man may buy:
 
GLDN - 60.40 G
IOC - 19 G
GOOG - 484 G
ATI - 103.50 G
KCI - 57 G
 

Extended Shorts the Ice Man may consider:
 
AMLN - 49
VRTX - 35.50 / 36
OCNF - 25/26
 

Dollar Man Ideas:
 
DRL - 1.60
 
   Media Commentators
 
Cramer's Comments:
 
Bullish: DELL, HPQ, RVBD, WSII
 
Sell: ½ of AMZN and BIDU
 
   Ice Cold Commentators
 
Break Man Video Summary:
 
Break out buy watch list for short term gains July 26 includes:  PAY, FSLR, PRXL, ANGO, CROX, PVCT, ZIXI, BWLD.
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
 
   CNBC Fast Money Review
 
1.Global Growth Or Credit Crunch: Which Dominates Dow?
The headline: Global Expansion Or Financial Distress: Which Force Will Dominate This Market.
Najarian : enormous put buying in the SPDR (XLF) suggests weakness in financials is NOT over.
Bolling: GS is the test for the financials and they performed well.
Macke: remains cautious.
Adami: earnings are strong and in the stock market it all comes down to earnings.
 
2.EARNING'S EDGE: AUTOS:
The headline: DCX  Jumps As Mercedes Unit Profit Doubles; Banks Postpone $12B Chrysler Debt Offer After Investors Balk
Guy Adami: is keeping his eye on F earnings which come out Thursday. He's cautious.
Pete Najarian: loves DCX they're a fuel efficient car maker. He also likes TM for the same reason.
 
3.The Top 3
Around The World                                                                                                                                          
Wednesday CL reported increased international sales and moved higher. Tuesday, KMB was up on a down day.
Najarian: strong earnings from these companies are a result of their international exposure. Recommends keeping an eye on CLX as well as AVP which he likes for recent options activity.
Macke: the international component has introduced growth to companies that had none for years. He agrees with Najarian and recommends getting long the above consumer names.
Bolling: prefers the Consumer Staples Select Sector SPDR (XLP)
Big Pharma, Big Bucks?                                                                                                                                              
GSK - the world's second biggest drug maker - closed higher after the company announced a $25 billion buyback. Rival LLY continued to run after beating estimates Tuesday, and MRK closed higher, too.
Adami: GSK is a buy, he anticipates a little more weakness from their Avandia drug.
Bolling: likes MRK best.
Najarian: new drug from GSK called "Alli" is first over-the-counter weight-loss drug approved by the Food and Drug Administration.It's presenting a direct challenge for NTRI.
The Golden Arches
McDonald's is up with annual revenues of more than $21 billion dollars. A major turnaround from where the company was just a few years ago.
Macke: consistency is the big issue for MCD because some restaurants are company owned and others are franchises. MCD is a buy until he sees inconsistency in their stores
Bolling: charts suggest if MCD stock dips lower than $50 get out -above $53 own the stock.
Najarian: jokes if MCD does well, investors should buy BMY for their diabetes drug pipeline.
 
4.TRAINS AND PLANES
The headline: NSC Beats Estimates, But Revenue Edges Lower
Adami: the rails have had a good run, recommends taking some profit. Rails are a short term sell, but they're a long term buy.
The headline: BA Takes Off On Strongest Earnings
Adami: BA is explosive but adds this isn't the time to get into this stock.
 
5.GREAT JOBS:
The headline:AAPL Jumps After Hours On 75% Surge In Profit
Bolling: loves Apple, says the company is selling more computers on the success of the iPhone.
The headline: BIDU  Up In Extended Trading After Quarterly Profit More Than Doubles
Najarian: Don't chase BIDU - but if you own it be happy.
The headline: COP Up After Earnings Beat Estimates; XOM Extinguishes Fire At U.K. Refinery
Bolling: concerned about production levels; COP production dropped 7%. Adds if this is a trend the oil companies might not make their numbers. Says if XOM and CVX maintain production levels then XOM and CVX are buys.
6.FINAL TRADE Your First Move For Thursday
Bolling recommends WFR because companies are putting money into tech
Adami: likes HOG.
Najarian: BMY for their diabetes pipeline.
Macke: Did not have a pick
 
   News and Events Digest
 
Breaking News
 
Buffet’s Berkshire Hathaway has acquired a small stake in Kraft, which has been in a confrontation with activist investors who want faster change at the food giant. - WSJ
 
Alliance Boots - KKR takeover put on Hold due to problems funding the deal.
 
AMGN, JNJ, GSK - tougher label regulations possibly coming form the FDA.
 
Media Summary:
 
According to Reuters, Apple (AAPL) turned in strong results driven by Mac sales and the stock moved up 10%.
 
Reuters writes that Sony's (SNE) profit tripled as webcam sales more than offset losses at the company's game unit.
 
Reuters reports that Qualcomm (QCOM) reported higher profits and raised guidance.
 
The Wall Street Journal reports that Berkshire Hathaway (BRK) has taken a small position in Kraft (KFT).
 
The Wall Street Journal reports that Shell's profits rose 18% on refining operation strength.
 
The New York Times reports that Chrysler's buy-out was delayed due to a toughening credit environment.
 
According to the FT, debt problems may signal the end of the buy-out boom.
 
Barron's writes that shares in Baidu (BIDU) rose 18% on strong earnings and guidance.
 
IPO Central:
 
SunPower Corporation (SPWR) a Silicon Valley-based manufacturer of high-efficiency solar cells, solar panels and solar systems, today announced the pricing of its public offering of 2.45 million shares of class A common stock at $64.50 per share, and the pricing of its $200 million aggregate principal amount of 0.75 percent senior convertible debentures due in 2027. SunPower has also granted to the underwriters of the offering of class A common stock an option to purchase up to an additional 245,000 shares of class A common stock and the underwriters of the offering of debentures an option to purchase up to an additional $25 million aggregate principal amount of the debentures.
 

M&A Activity:
 
R.H. Donnelley Corp. (RHD) said Thursday it will acquire Business.com for $345 million in cash and deferred purchase consideration. R.H. Donnelley, a Yellow Pages and commercial-search company, said Business.com, which generated revenues of more than $50 million this year, is a leader in business-to business commercial-search. The deal is expected to be completed in the third quarter. - MarketWatch
 
Economic Data:
 
8:30 Durable Goods
 
8:30 Initial Claims
 
10:00 Help-Wanted Index
 
10:00 New home Sales
 
Stock Split Announcements:
 
F5 Networks, Inc. (Ticker: FFIV) announced that its board of directors approved a stock split.
 
Johnson Controls, Inc. (Ticker: JCI) announced that its board of directors approved a 3 for 1 stock split.
 
   Upgrades and Downgrades by Sector:
 
Aerospace
 FLIR FLIR Systems JMP Securities Price Target Raised Mkt Outperform $44 to $53
 FLIR FLIR Systems Lehman Brothers Downgraded from Overweight to Equal-weight
 LDSH Ladish Friedman Billings Downgraded from Outperform to Mkt Perform $43 to $46
 
Airlines - Passenger
 LUV Southwest Air Matrix Research Downgraded from Strong Buy to Buy
 
Biotech
 ILMN Illumina Caris & Company Price Target Raised Buy $50 to $55
 SGEN Seattle Genetics Caris & Company Price Target Raised Buy $10 to $11
 GPCB GPC Biotech Deutsche Securities Downgraded from Buy to Hold
 SGMO Sangamo BioSci Rodman & Renshaw Downgraded from Mkt Outperform to Mkt Perform
 
Brokerage Services
 MER removed from the Conviction Buy List at Goldman Sachs but maintain Buy with $108
 
Business Services
 CVG Convergys Friedman Billings Downgraded from Outperform to Mkt Perform $33 to $24
 FADV First Advantage JMP Securities Downgraded from Mkt Outperform to Mkt Perform
 CVG Convergys UBS Cut Price Target Neutral $27 to $23
 PRAA Portfolio Recovery Assoc. Kaufman Bros Cut Price Target Buy $74 to $64
 
Chemicals-Methanol
 MEOH Methanex UBS Upgraded from Reduce to Neutral
 
Computer Hardware
 AAPL Apple First Albany Resumed Coverage Buy $120 to $170
 AAPL Apple UBS Price Target Raised Buy $160 to $175
 AAPL Apple Needham & Co Price Target Raised Buy $135 to $170
 AAPL Apple Caris & Company Price Target Raised Above Average $140 to $165
 AAPL Apple JMP Securities Price Target Raised Mkt Outperform $125 to $160
 FFIV F5 Networks Kaufman Bros Price Target Raised Buy $86 to $94
 ROK Rockwell Automation Friedman Billings Price Target Raised Outperform $75 to $84
 BCSI Blue Coat Merriman Curhan Ford Initiated at Buy
 NEWP Newport Needham & Co Downgraded from Buy to Hold
 FFIV HAMR Cut Price Target $97
 MRVC MRV Comms Roth Capital Cut Price Target Buy $3.90 to $3.80
 NEWP Newport Brean Murray Cut Price Target Buy $25 to $22
 SANM Sanmina-SCI Credit Suisse Cut Price Target Neutral $3.50 to $3
 
Computer Services
 AKAM Akamai Tech Jefferies & Co Downgraded from Buy to Hold $55 to $48
 AKAM Akamai Tech Credit Suisse Downgraded from Outperform to Neutral $65 to $45
 AKAM Akamai Tech Merriman Curhan Ford Downgraded from Buy to Neutral
 RNOW Rightnow Tech Cantor Fitzgerald Cut Price Target Hold $18 to $17
 RNOW Rightnow Tech Roth Capital Cut Price Target Hold $18 to $17
 
Computer Software
 OMTR Omniture Piper Jaffray Upgraded from Underperform to Market Perform
 BOBJ Business Objects Canaccord Adams Price Target Raised Buy $45 to $50
 OMTR Omniture Friedman Billings Price Target Raised Mkt Perform $15 to $18
 OMTR Omniture Cantor Fitzgerald Price Target Raised Buy $21 to $28
 OMTR Omniture JMP Securities Price Target Raised Mkt Outperform $20 to $25
 SYMC Symantec UBS Price Target Raised Buy $25 to $26
 SYMC Symantec Friedman Billings Price Target Raised Mkt Perform $18 to $20
 SYMC Jeffries Likes
 SYMC Symantec Credit Suisse Cut Price Target Neutral $21.50 to $20
 
Environmental Prod
 FTEK Fuel-Tech Merriman Curhan Ford Downgraded from Buy to Neutral
 
Finance Companies
 AMG Affiliated Managers Barrington Research Upgraded from Mkt Perform to Outperform $150
 
Healthcare
 ALXN Alexion Pharm First Albany Price Target Raised Buy $62 to $68
 
Healthcare Equipment
 ALGN Align Tech Roth Capital Price Target Raised Buy $28 to $35
 
Healthcare Facilities
 LHCG LHC Group Stifel Nicolaus Upgraded from Hold to Buy $30
 SUNH Sun Healthcare UBS Downgraded from Buy to Neutral
 
Healthcare Services
 CVD Covance Friedman Billings Price Target Raised Mkt Perform $65 to $70
 LNCR Lincare Stifel Nicolaus Downgraded from Buy to Hold
 
Industrial Equipment
 DOV Dover Friedman Billings Price Target Raised Outperform $55 to $57
 
Insurance
AGP Amerigroup Stifel Nicolaus Upgraded from Hold to Buy $31
 ACE ACE Limited Friedman Billings Price Target Raised Outperform $75 to $76
 
Internet Services
 BIDU Baidu.com Citigroup Upgraded from Hold to Buy
 
Manufacturing
 ATU Actuant Matrix Research Downgraded from Strong Buy to Buy
 DADE Dade Behring Banc of America Sec Downgraded from Buy to Neutral
 
Mining - Steel & Iron
 X U.S. Steel UBS Upgraded from Reduce to Neutral
 
Multi-National Banks
 CFR Cullen/Frost Bnkrs Citigroup Upgraded from Sell to Hold
 
Oil and Gas
 ECA EnCana Lehman Brothers Upgraded from Underweight to Equal-weight
 PPP Pogo Producing Credit Suisse Upgraded from Underperform to Neutral
 ECA EnCana Friedman Billings Price Target Raised Mkt Perform $53 to $66
 HES Hess Bear Stearns Downgraded from Outperform to Peer Perform
 NBR Nabors Ind Friedman Billings Cut Price Target Outperform $39 to $37
 RES RPC Inc Friedman Billings Cut Price Target Mkt Perform $20 to $17
 
Real Estate Website
 LOOP Loopnet Cantor Fitzgerald Price Target Raised Buy $21 to $29
 
Regional Banks
 STBC State Bancorp Sandler O'Neill Upgraded from Hold to Buy $20 to $19
 BBX BankAtlantic Friedman Billings Cut Price Target Outperform $12 to $10.50
 
Rental Services
 RNT Aaron Rents Merriman Curhan Ford Upgraded from Neutral to Buy
 RNT Aaron Rents Wachovia Upgraded from Mkt Perform to Outperform
 
Restaurants
 PFCB PF Chang's Bear Stearns Upgraded from Underperform to Peer Perform
 PNRA Panera Bread Friedman Billings Cut Price Target Mkt Perform $48 to $46
 
Retail Trade
 GME Gamestop UBS Price Target Raised Buy $44 to $52
 CONN Conns Morgan Joseph Initiated at Buy $34
 CHIC Charlotte Russe Friedman Billings Cut Price Target Outperform $34 to $26
 FL Foot Locker UBS Cut Price Target Buy $28 to $26
 
Savings & Loan
 BRKL Brookline Bancorp Friedman Billings Cut Price Target Outperform $15 to $13
 HCBK Hudson City Banc Friedman Billings Cut Price Target Mkt Perform $13.50 to $12
 NYB NY Comm Bancrp Friedman Billings Cut Price Target Mkt Perform $18 to $17
 
Semiconductors
 MTSN Mattson Stifel Nicolaus Price Target Raised Buy $13 to $15
 ATE Advantest Matrix Research Downgraded from Hold to Strong Sell
 ATMI ATMI Friedman Billings Downgraded from Outperform to Mkt Perform $42 to $34
 
Telecommunications
 ARRS Arris Needham & Co Price Target Raised Buy $18 to $20
 ARRS Arris Kaufman Bros Price Target Raised Buy $19 to $21
 EQIX Equinix Kaufman Bros Price Target Raised Hold $88 to $96
 HLIT Harmonic Friedman Billings Price Target Raised Mkt Perform $8 to $10
 QCOM Qualcomm UBS Price Target Raised Buy $53 to $54
 PCTI PC-TEL Robert W. Baird Cut Price Target Outperform $12 to $10
 
Transportation
 R Ryder System Bear Stearns Upgraded from Underperform to Outperform
 EGLE Eagle Bulk Shipping Cantor Fitzgerald Price Target Raised Buy $26 to $31
 CVTI Covenant Transport Wachovia Downgraded from Outperform to Mkt Perform
 
Travel Services
 EXPE Expedia Citigroup Upgraded from Hold to Buy
Published Thursday, July 26, 2007 2:07 PM by Icecoldstocks.net
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