Thursday Morning, June 14th
Dow Stock
News
:
Citigroup Inc. ( C) will invest $1.5 billion in India over the next three years through its emerging markets private equity investment arm Citigroup Venture Capital International, the Mint newspaper reported, citing CVCI India's Managing Director Ajay Relan. - MarketWatch
GE - announced that they expect to do $30B in infrastructure over the next 3 years.
VZ - Verizon HSBC Securities Price Target Raised Overweight $43 to $50;
Breakouts the Ice Man may consider trading:
CAT - 80
FDG - 30
GRP - 58.70
ADBE - 45
Regular Trades the Ice Man may consider:
TATTF - 20.15
BWLD - 84.50
HK - 16.25
PAC - 50
NIHD - 79.50
CHL - 48.40
CTRP - 75.20
Dollar Man Ideas:
CSAR - 6.10
LMRA - 5
GRZ - 5.85
VIV - 5.05
Cramer's Comments:
Bullish: CEO, CHL, SSW, FMCN, BIDU;
Break Man Video Summary:
Break out buy watch list for short term gains June 14 includes: AMSC, LIFC, ALGN, PWER, HERO, HTZ, FNSR.
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
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CNBC Fast Money Review:
1. Word on the Street
Best Gain of 2007
Bolling: Flattened out short position on S&P, NASDAQ. Likes large caps here.
Go long oil, metals.
Najarian: Market volitility to continue next couple of weeks. Likes
international exposure, FLR, CAT.
Adami: Stick with what works. Likes HPQ, DELL.
Gilbert: Likes large caps here.
Built for the Road Ahead?
Adami: Positive on F.
Bolling: But if rates go up F is dead money.
Gilbert: Better place to put money.
ICE-ing on the Cake
Bolling: NMX acquisition by NYSE could happen by July 4.
Adami: Won't happen till Labor Day.
Wall Street Earnings Parade
Gilbert: GS earnings already priced into stock. Long term buy.
Adami: GS at 52-week high, LEH, BSC off 52-week high. Short term sell off
in LEH possible.
China Trade - Construction
Adami: CAT doing everything right. More upside from here.
Najarian: Likes CBE, ITW, FWLT, ACM, GE, UTX, HON for international
exposure.
Bolling: Likes RIO, PKX. Growth expansion isn't slowing.
No Weight Loss Pill Yet
Huckman: FDA not sure SNY drug Acomplia is safe. SNY down 5% after hours.
Bad news could spread to MRK, BMY, PFE.
2. The Top 3
How To Fix Yahoo!
Bolling: CEO Semel need to go, YHOO needs to focus on one thing, move toward
user generated content. YHOO could get cheaper.
Gilbert: options activity indicate YHOO takeout could happen.
Amazon Phenomenon
Gilbert: Options activity indicates nothing big will come out of AMZN
meeting.
Adami: Recommends MA, AXP from surge in online shopping.
Najarian: If long on AMZN, buy puts as security policy.
Bolling: AMZN is long term play. Sea change taking place for online
shopping.
Boeing Takes Off, Airlines Delayed
Adami: BA is international story, also cream of crop. Likes PCP, up 900%
last five years.
Najarian: BA doing everything right unlike Airbus.
Gilbert: Likes TIE, ATI, RTI.
3. Sector Trade - Hotels
Bolling: Hotel sector ripe for consolidation.
Najarian: Likes HOT, WYN.
Gilbert: Likes sector, WYN is cheap.
4. Final Trade
Gilbert: HOT is a buy, takeover potential.
Najarian: USU is a buy on pullback. Nuclear sector is hot.
Adami: NTRI is a buy.
Bolling: TRLG is a buy.
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Breaking
News
:
Energy company Hoku Scientific Inc. said Wednesday its subsidiary Hoku Materials signed a $678 million contract for the sale and delivery of materials to solar energy company Suntech Power Holdings Co. Ltd.
Crystallex says received notice from CVG, that the requirements of MinAmb have been fulfilled regarding permitting for the Las Cristinas project: Co announced it has received notice from the Corporacion Venezolana de Guayana, that the requirements of the Ministry of the Environment and Natural Resources of Venezuela for the issuance of the Environmental permit to commence construction of the Las Cristinas Project have been fulfilled. The C.V.G confirmed that the approval of the E.I.S, the posting of the bond and the payment of the taxes represent the final and conclusive step in the procedure for the issuance of the Environmental permit to construct the Las Cristinas Project. - Briefing
InVesco announces a $500 mln stock repurchase program - Briefing
Investors wiped some 6 billion euros ($7.97 billion) off the market value of French pharmaceutical company Sanofi-Aventis Thursday after U.S. federal health advisers rejected its Accomplia weight-loss drug. - AP
Targeted Genetics Corporation (TGEN) today is reporting data from the dose escalation arm of the ongoing Phase I/II clinical study of tgAAC94 in patients with inflammatory arthritis. Philip J. Mease, M.D., clinical professor at the University of Washington School of Medicine, chief of rheumatology clinical research at the Swedish Medical Center, practicing physician with Seattle Rheumatology Associates and the lead investigator on the trial is presenting the data in a poster session today at the Annual European Congress of Rheumatology EULAR 2007 in Barcelona, Spain (Abstract THU0185). These data also were reported earlier this month at the 10th Annual Meeting of the American Society of Gene Therapy.
ArQule, (ARQL) the Woburn, Mass., biotech developer of cancer treatments, priced a public offering of 7 million shares at $7.75. ArQule is offering the shares via a shelf registration it had filed with the U.S. Securities and Exchange Commission. It's given the underwriters an option on 1.05 million more shares if demand for the offering requires. UBS and CIBC are managing the offering. - MarketWatch
Chicago Mercantile Exchange Holdings (CME) will add a special dividend to its offer for CBOT Holdings, (BOT) people familiar with the matter told The Wall Street Journal. The move responds to a similar effort by Intercontinental Exchange, (ICE) which has raised a hostile bid for CBOT, the Journal said. CBOT's board is expected to affirm that it prefers CME's purchase over ICE's, the paper reported. - MarketWatch
Media Coverage:
According to Reuters, Ebay (EBAY) has pulled its business from the Google (GOOG) AdWords program.
Reuters writes that, according to analysts a bid by IntercontinentalExchange (ICE) for CBOT (BOT) now faces an uphill battle.
The Wall Street Journal writes that the Big Three will seek extremely large concessions from the UAW to narrow their cost disadvantage with Asia rivals.
The Wall Street Journal writes that Liberty Media (LCAPA) and EchoStar (DISH) could make a $5.5 billion bid for satellite communications provider Intelstat.
The Wall Street Journal reports that Sprint (S) is seeking partnerships to finance its huge WiMax network. The candidate may include Craig McCaw who founded WiMax provider Clearwire (CLWR). Sprint may also spin-off its WiMax unit to shareholders.
The Wall Street Journal writes that Southwest Air (LUV) has alerted investors that its growth is slowing.
The FDA has rejected an obesity drug from Sanofi-Aventis (SNY) because of possible psychiatric side-effects, according to The New York Times.
FT reports that the mobile phone industry will launch a service aimed a the Apple (AAPL) iPhone. It will be a low-cost, flat-rate music service that can be accessed on most handsets in Europe and Asia. The project is supported Motorola (MOT), Nokia (NOK), Samsung, and Sony Ericsson and has the backing of four major music publishers.
Barron's reports that, despite improvements in its LCD business, turning around Sony (SNE) will take longer than many investors anticipate.
IPO Central:
Filings:
SS&C Technologies Holdings Inc. late Wednesday filed to raise up to $200 million in an initial public offering with underwriters Morgan Stanley, Credit Suisse and J.P. Morgan. The Windsor, Conn. company sells software to financial services firms to process information. SS&C Technologies was publicly traded from 1996 to 2005 before being bought by Carlyle, a major private equity firm. The company plans to trade on the Nasdaq under the symbol SSNC. - MarketWatch
Economic Data:
8:30 Initial Claims
8:30 PPI
Recent stock split announcements:
On June 7, Corrections Corporation of America (NYSE:CXW) announced that its board of directors approved a 2:1 stock split to be payable on July 6, 2007.
On June 11, EMCOR Group, Inc. (NYSE:EME) announced that its board of directors approved a 2:1 stock split to be payable on July 9, 2007.
Companies that have previously announced stock splits which become effective in the next several trading days.
Ex-Date Split Symbol Company
6/15 3:2 WMS WMS Industries, Inc.
6/15 2:1 CROX CROCS, Inc.
6/18 3:2 PEBK Peoples Bancorp of North Carolina
6/18 3:2 BNHN Benihana Inc.
6/18 3:2 BNHNA Benihana Inc.
6/18 2:1 BWLD Buffalo Wild Wings, Inc.
6/18 2:1 MIDD Middleby Corporation
6/18 3:2 ADVNA Advanta Corp.
6/18 3:2 ADVNB Advanta Corp.
6/19 3:2 CPKI California Pizza Kitchen
6/19 2:1 STR Questar Corp.
6/19 2:1 MRO Marathon Oil Corp.
Upgrades and Downgrades by Sector:
Aerospace Comm
LLL L-3 Comms Friedman Billings Price Target Raised Mkt Perform $96 to $105
Biotech
ILMN Illumina Bear Stearns Upgraded from Peer Perform to Outperform
MNKD Mannkind Banc of America Sec Initiated at Buy $20
Computer Hardware
TTMI TTM Tech Needham & Co Upgraded from Hold to Buy $15
RACK Rackable Systems Merriman Curhan Ford Initiated at Buy
Computer Software
VDSI VASCO Data Security Jefferies & Co Downgraded from Buy to Hold $27 to $22
Construction
MLM Martin Marietta Matrix Research Downgraded from Hold to Sell
Educational Services
ESI ITT Educational Lehman Brothers Downgraded from Overweight to Equal-weight
Finance Companies
SLM SLM Corp Bear Stearns Downgraded from Outperform to Peer Perform
Gold and Silver Mining
IVN Ivanhoe Mines HSBC Securities Downgraded from Overweight to Neutral
Healthcare
GNLB Genelabs Technologies Oppenheimer Initiated at Buy $6
EYE Advanced Medical Optics Jefferies & Co Initiated at Underperform $29
OPTT Ocean Power Tech Bear Stearns Initiated at Outperform $20
VTIV inVentiv Health First Albany Upgraded from Buy to Strong Buy
Household Goods
SCSS Select Comfort Northland Securities Cut Price Target Outperform $23 to $20
Industrial Equipment
B Barnes Group CIBC Wrld Mkts Initiated at Sector Outperform $36
Jewelry
CTHR Charles & Colvard Northland Securities Initiated at Outperform $8
Major Pharmaceutical
ACL Alcon Jefferies & Co Initiated at Buy $159
SNY Sanofi-Aventis JP Morgan Downgraded from Overweight to Neutral
SNY Sanofi-Aventis HSBC Securities Downgraded from Overweight to Neutral
SNY Sanofi-Aventis Banc of America Sec Cut Price Target Buy $50 to $48
Medical Insurance
HS Healthspring Jefferies & Co Cut Price Target Hold $20 to $17
Mining - Steel & Iron
NX Quanex Cathay Financial Initiated at Outperform $55
Mining Non-Ferr Metal
TIE Titanium Metals Matrix Research Upgraded from Hold to Buy
Multi-National Banks
BBD Banco Brad SA HSBC Securities Upgraded from Neutral to Overweight
Oil and Gas
APA Apache RBC Capital Mkts Price Target Raised Sector Perform $73 to $79
Oil and Gas Equipmt
GOK Geokinetics UBS Initiated at Buy $38
Personal Services
CHE Chemed Jefferies & Co Initiated at Buy $75
Publishing
DJ Dow Jones UBS Downgraded from Neutral to Reduce
REITs
MFA MFA Mortgage JMP Securities Initiated at Mkt Outperform $8.50
Restaurants
THI Tim Hortons CIBC Wrld Mkts Upgraded from Sector Per to Sector Outper
Retail Trade
KMX CarMax RBC Capital Mkts Cut Price Target Sector Perform $26 to $23
SHOO Steven Madden Nollenberger Capital Upgraded from Neutral to Buy $36
Semiconductors
ISIL Intersil Banc of America Sec Upgraded from Neutral to Buy
Specialty Funds
MVC MVC Capital RBC Capital Mkts Price Target Raised Sector Perform $18 to $19
Telecommunications
CTL Centurytel UBS Upgraded from Reduce to Neutral
EQ Embarq UBS Upgraded from Neutral to Buy
PT Portugal Telecom Credit Suisse Upgraded from Neutral to Outperform
CBB Cincinnati Bell UBS Initiated at Buy
Travel
Services EXPE Expedia Matrix Research Upgraded from Sell to Hold
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