Thursday Morning, August 23rd
SITE NEWS
Kudos for Tuesday's Conference Call:
Last night conf was awesome. No one even comes close to the Ice Man in sales and persuasion!
He could sell ICE to Eskimos ! (LOL)
--Nap
There is a special training that deals with MACD, On-Balance Volume and Stochastics being taught by Steve Nelson. It is a totally free conference on Saturday at 7 AM California Time (10 AM New York Time). Steve has a masters degree in Finance, and is an excellent technician who follows Fibonnacci, Point and Figure, and various forms of technical analysis. He will be teaching the course, and various charts will be sent out. If anyone has questions they can send an email to the Ice Man at iceman081@hotmail.com. The call is free, and you can record it over the phone for your reference if you have a tape recorder. The phone number is 866-305-2467, and the Access Code is 155702. The course is completely free of charge - Don't miss it!
Dow Stock News
The Wall Street Journal writes that Nokia (NOK) will preload Microsoft (MSFT) applications on phones in eleven countries in an attempt to get additional revenue from web services.
The New York Times reports that customers are troubled by the multi-page billes they get from AT&T (T) for their Apple (AAPL) iPhones
The FT reports that the private equity deal for Home Depot (HD) Supply may be in deep trouble.
Dow Jones News:
A private equity-led buyout of home-improvement retailer Home Depot Inc's (HD) wholesale supply division, due to close on Thursday, could be in trouble because investment banks involved are reluctant to fund the transaction even at a lower price, the Financial Times reported in its online edition, citing people familiar with the negotiations. - Reuters
Limelight Networks Inc (LLNW) and Microsoft Corp (MSFT) said on Thursday that they had entered into a technology agreement in which the Web content delivery company will help improve the reliability of the software maker's online services, such as video, music and games. - Reuters
Ice Man Stocks
For a printable version of the Ice Man's picks, click here.
Breakouts the Ice Man may consider trading:
PCLN - 80
WMS - 30
Regular Trades the Ice Man may consider:
BWTR - 10.50
TZOO - 18
CC - 11.55
OIH - 170
JDAS - 21.25
BTU - 42
BAX - 52
PMTI - 31
NHWK - 21
SEPR - 28.60
QLGC - 12.40
ELX - 19.25
CX - 31.30
MTEX - 9
GIS - 57
CVX - 85.60
SYNL - 20.35
NVTL - 22.50
Extended Shorts the Ice Man may consider:
SBS - 49.65 Gap
APKT - 16
RIMM - 83.25 * Best Bet
Dollar Man Ideas:
NFI - 9.80
NUVO - 1.95 Bid
OPWV - 4.90
ANDS - 2.50
SAPE - 6.20
IOTN - 3.65
Media Commentators
Cramer's Comments:
Bullish: GME, DLTR, MHS
Zanger:
AAPL, FWLT, BIDU, DRYS, EXM, MA, GRMN, CROX, JASO;
Ice Cold Commentators
Break Man Video Summary:
Swing Man Market Recap:
The Swing Man will be teaching a Free Educational Seminar Saturday at 7 am California Time.
CNBC Fast Money Review
Word on the Street:
Rebound from Summer Swoon:
Macke: deal making came back, Fed´s got your back
Gilbert: bottom is not in, it is a stock pickers market
Najarian: Materials Sector (XLB) came back and not the financials
Adami: Ameritrade/ E*Trade deal will happen
Airlines Next Sector?
Gilbert: don´t like the airlines and don´t see mergers happening
Macke: if the market opens tomorrow it´s a great day to sell airlines
Specialty Retail:
Macke: Consumer is still not dead even though many Bears have been waiting for a while.
Apple Computer:
Najarian: Sept 150 calls were very active and doubled today, strong PC market helps this company
Adami: I still think there is a little downside
NTES and Chinese Online Gaming:
Gilbert: the call today from our firm was on the industry and the stock, based on valuation and strong checks we like this name
Drug Index:
Najarian: SGP, MRK, BMY had big call buying
Adami: MRK has had an insider selling 10M shares
LEH selling their mortgage unit:
Macke: cannot short the sector but I believe more bad news is coming
Gilbert: this is good for Indymac who announced they are moving back to jumbo loans
Get drunk and operate machinery:
Najarian: Big fan of the new Red Bull and Vodka drink!
Top 3:
1. Bank of America bailing out CFC:
Macke: sign of distress
Gilbert: I don´t like the financials, if you like JPM look to CTSH
Najarian: like getting into C here
Adami: BAC around 50 is a buy
2. High Rollers bet on Hotels:
Najarian: worth exploring here, big speculation in HOT and WYN
Gilbert: LOVE HOT and GET
3. CEO Job Nobody wants (GPS):
Macke: curious hire to say the least, but is the best job in retail since it cannot get much worse
Robots Beat Market (IRBT)
Call with Colin Angle from IRBT and a demonstration of the roomba on set.
Macke: what is you Consumer vs. Military exposure?
Angle: In 2006 we were 60% retail and 40% military but the kick off of our new roomba expects to strengthen the retail side.
Najarian: like for the military side
Gilbert: like for the military side
Adami: love this stock
Pops & Drops:
EMC:
Adami: still like it here
WM:
Gilbert: market believes this is the next subprime shoe to drop
HRB:
Najarian: has exposure to subprime
ANF:
Macke: don´t like the name myself but also wouldn´t short here
TOL:
Adami: the call was based on how many times the CEO said the work “suck’, he said it 0 times
FXI:
Najarian: BIDU, own until Beijing
TWB:
Macke: say goodbye to this name
BCSI:
Gilbert: sales devices sales are way up, why not buy
NTAP: Adami: still like the name here
LCC:
Gilbert: don´t like the airlines
FLE:
Macke: stay away
FWLT:
Macke: easy money is already made here
Face 2 Face:
South Africa:
EZA is the ETF that offers a basket of South African stocks.
Gilbert: worth a look
Adami: worth a look but last time I was there crime was a major problem and we needed security 24/7
Najarian: worth a look
Macke: 2010 World Cup is huge for them but having crime and AIDS as two big problems is not an attraction.
News and Events Digest
Breaking News
Bank of America acquired a $2 billion equity stake in Countrywide in a bid to bolster the confidence of creditors and investors in the mortgage lender. After hours, Countrywide shares surged 19%. - WSJ
The Bank of Japan opted to forgo a rate increase it had signaled in July, deterred by worries over global financial markets, but laid the ground for a possible increase in coming months. - WSJ
Apple has signed contracts with three major European mobile phone operators for exclusive rights to sell its new iPhone, the Financial Times reported on its Web site citing sources familiar with the situation. The paper said the contracts require the companies - T-Mobile in Germany, Orange in France and O2 in the U.K. - to give 10% of the revenue from voice and data transfers to Apple. - CNBC
Media Summary:
According to Reuters, a group of California gas stations filed suit against Chevron (CVX), Saudi Aramco, and Royal Dutch Shell for price fixing.
Reuters writes that Canon (CAJ) is spending another $862 million on its share buy-back.
Reuters reports that Bank of American (BAC) has invested $2 billion in Countrywide Financial (CFC).
The Wall Street Journal writes that Facebook is working on an ad system that will target marketers messages based on information given by the website's members.
The FT writes that Samsung is about to overtake Motorola (MOT) as the No.2 handset company.
Barron's reports that JDSU beat forecasts.
M&A Activity:
Stock Split Announcements:
Blue Coat Systems Inc (BCSI) announced that its board of directors approved a stock split.
National-Oilwell, Inc. (NOV) announced that its board of directors approved a 2 for 1 stock split.
Economic Data:
8:30 Initial Claims
Upgrades and Downgrades by Sector:
Bank of America is positive on the Solar Stocks. They are having a conference on Sept 3-7, and their favorites are FSLR and SPWR.
Banking:
Merrill Downgraded to sell: CYN, ZION, ASBC, CFR, CATY, FMER, FMBI, TCBI, SIVB
Biotech
HNAB Hana Biosciences Cantor Fitzgerald Upgraded from Hold to Buy $3 to $4
BPA Biosante Oppenheimer Initiated at Buy $9
Bond Funds
BR Broadridge Financial JP Morgan Downgraded from Overweight to Neutral
Bus Svc-Recruiting
DHX Dice Holdings Wachovia Initiated at Outperform
Business Services
WXS Wright Express Morgan Keegan Downgraded from Outperform to Mkt Perform
Computer Hardware
TECD Tech Data Citigroup Upgraded from Hold to Buy
Computer Software
SNPS Synopsys RBC Capital Mkts Price Target Raised Sector Perform $27 to $29
VDSI VASCO Data Security Friedman Billings Price Target Raised Outperform $30 to $36
INTU Intuit UBS Cut Price Target Neutral $34 to $33
APTM Aptimus Boenning & Scattergd Coverage Dropped
Finance Companies
CFC Countrywide Wachovia Upgraded from Underperform to Mkt Perform
CFC Countrywide Friedman Billings Upgraded from Underperform to Mkt Perform $17 to $22
MGI MoneyGram Morgan Keegan Upgraded from Mkt Perform to Outperform
EV Eaton Vance JP Morgan Downgraded from Overweight to Underweight
Foods
TSN Tyson Foods Matrix Research Upgraded from Sell to Hold
Gaming Operations
MGM MGM Mirage Nollenberger Capital Price Target Raised Buy $91 to $94
MGM MGM Mirage Calyon Securities Price Target Raised Add $88 to $94
Gold and Silver Mining
IAG IAMGOLD RBC Capital Mkts Cut Price Target Outperform $11 to $10
Healthcare
OSIP OSI Pharm Wachovia Upgraded from Underperform to Mkt Perform
CPHD Cepheid Caris & Company Downgraded from Buy to Above Average $17 to $21
Homebuilders
TOL Toll Brothers JMP Securities Upgraded from Mkt Underperform to Mkt Per
Industrial Equipment
JOYG Joy Global UBS Upgraded from Neutral to Buy
Insurance
AIZ Assurant Wachovia Initiated at Outperform
Mining - Minerals
MEE Massey Energy UBS Upgraded from Neutral to Buy
Mining - Steel & Iron
MT Arcelor Mittal Banc of America Sec Initiated at Buy $70
Motion Pictures
IMAX Imax Roth Capital Upgraded from Hold to Buy $4 to $6
Oil and Gas
HTE Harvest Energy Trust Canaccord Adams Upgraded from Sell to Hold
Personal Services
SHOR Shoretel Piper Jaffray Initiated at Outperform
Regional Banks
ASBC Assoc Banc-Corp Robert W. Baird Resumed Coverage Outperform $33
Restaurants
DAVE Famous Dave's Nollenberger Capital Initiated at Buy $22
MRT Mortons Restaurant Group Nollenberger Capital Initiated at Buy $22
Retail Trade
ANF Piper Jaffrey Price Target Raised $88
ZUMZ Zumiez Caris & Company Price Target Raised Above Average $42 to $50
ZUMZ Zumiez CIBC Wrld Mkts Price Target Raised Sector Outperform $46 to $51
SPTN Spartan Stores Banc of America Sec Initiated at Buy $32
TLB Talbots Stifel Nicolaus Downgraded from Buy to Hold
TWB Tween Brands RBC Capital Mkts Downgraded from Outperform to Sector Perform
ZUMZ Zumiez Piper Jaffray Downgraded from Outperform to Market Perform
GMTN Gander Mountain Friedman Billings Cut Price Target Mkt Perform $12 to $10
HOTT Hot Topic Friedman Billings Cut Price Target Mkt Perform $10 to $9
TWB Tween Brands Stifel Nicolaus Cut Price Target Buy $52 to $36
Svc-Inv Education
SWIM Merriman Thinks it is worth $16 to $20
Telecommunications
CN China Netcom UBS Upgraded from Sell to Neutral
IDCC Interdigital Comm First Albany Cut Price Target Buy $10 to $9
JDSU JDS Uniphase Roth Capital Cut Price Target Hold $18.20 to $15.30
Transportation
UPS UPS Matrix Research Upgraded from Hold to Buy
GNK Genco Shipping & Trading Cantor Fitzgerald Price Target Raised Buy $66 to $68
TRN Trinity Industries KeyBanc Capital Mkts Initiated at Aggressive Buy $45
Utilities
ETR MSCO Upgraded to Overweight