Tuesday Morning, October 30th
SITE NEWS
Hidden Treasure News:
Sibling Sports Announces M-1 Global Management Team
NEW YORK CITY, NY, October 30, 2007- Sibling Entertainment Group Holdings, Inc's[SIBE: OTCBB] affiliate, Sibling Sports, LLC, as the Managing Member of M-1 Global, LLC, announced today the management team for M-1 Global.
Sibling Entertainment Group, Inc. is the company with which Sibling Holdings has previously signed an Agreement of Acquisition and Plan of Reorganization, the closing of which is currently pending. (See "Note to Editor" below for an explanation of Sibling Holdings relationship to Sibling Entertainment Group, Inc.).
"We are pleased with the high level of talent that we have been able to assemble to lead our new organization," said Monte Cox, M-1 Global president and chief executive officer. "Our leadership team has a great blend of experience and skills that will help guide our organization in the years to come."
Vadim Finkelchtein was appointed to the M-1 Global Executive Committee. He is also president of M-1 Mix Fight and will continue to manage Fedor Emelianenko, the world's greatest MMA fighter. Finkelchtein, 43, will be responsible for providing strategic guidance to the entire team. He will also help stage M-1 Global events in Russia.
"We are elated to partner with Vadim. Not only is he the founder of M-1 Mix Fight, but he is also a very successful Russian businessman. He owns and manages Russia's first and only sports-entertainment center located on water. Located in St. Petersburg, right across from the famous Hermitage museum, the center is located on board the 'Letuchii Golandez,' (or Flying Dutchman), a replica of the 1748 sailboat 'Amsterdam.' It contains four levels, and includes an exercise room, beauty salon, restaurants, cafes and hotel rooms," Cox said.
Bob Clark was appointed chief operating officer. Clark, 51, will be responsible for directing and managing day-to-day operations. He was also appointed to the M-1 Global Executive Committee. Clark also serves as president of Sibling Theatricals, Inc. and director of marketing for Sibling Entertainment Group, Inc. Prior to joining Sibling in July 2007, he spent the past 9 years working for CarMax, a Fortune 500 company and one of the Fortune 2007 "100 Best Companies to Work For."
Joost Raimond was appointed president of M-1 Eurasia. Raimond, 42, will be responsible for directing and managing day-to-day operations in Eurasia. He was also appointed to the M-1 Global Executive Committee. Prior to joining M-1 Global, Joost provided legal advice and management consultant services to Too Hot to Handle, M-1 Mix Fight & Pride Europe. He also owns his own project management and consultancy company - WORX. He specializes in health and fitness projects and focuses on sourcing fabrication of consumer or commercial products in the Far East and establishing production and QA/QC systems.
Apy Echteld was appointed vice president of fighter development. Echteld, 46, will be responsible for match-making and helping to identify fighters for M-1 Global to sign. He was also appointed to the M-1 Global executive committee. Echteld has been an accomplished martial arts trainer since 1979. In 1997, Echteld joined forces with Vadim Finkelchtein to create the Russian organization M-1 Mix-Fight, which is recognized as the largest MMA event in Europe.
Brian Patton was appointed vice president of M-1 Global. Patton, 41, will coordinate with SFX Media & Events to secure sponsorships and endorsements for both M-1 Global and our fighters. He was also appointed to the M-1 Global executive committee. Brian will continue in his current position as a faculty member at his alma mater Greenville College. Brian is also the business manager for Matt Hughes, 9-time UFC Welterweight champion.
Dennis Spencer, executive vice president of SFX Media & Events, was appointed to the M-1 Global executive committee. "He brings us over 30 years of experience in professional sports and sports television. Spencer, 54, will serve as our liaison with SFX Media & Events and he will help negotiate television and other media contracts, sponsorships and endorsements for M-1 Global and our fighters," Cox said.
"We believe we have a world-class management team," Cox said. "I look forward to working with this great group of leaders to help M-1 Global make its mark and contributions to the great sport of mixed martial arts."
For more information, access the M-1 Global website at www.M-1Global.com.
Dow Stock News
GM General Motors UBS Upgraded from Sell to Buy $24 to $48
WMT Wal-Mart HSBC Securities Cut Price Target Overweight $58 to $56
Ice Man Stocks
Breakouts the Ice Man may consider trading:
PCU - 143.25 ($2 ex-div 11/05)
BRKR - 52
AG - 54.70
PEP - 74.25
Regular Trades the Ice Man may consider:
CPSL - 9.15
FRG - 12.90
CNI - 54.50
NT - 17.65
TDG - 46.10, 48.25 Breakout
OFG - 12.50
DDS - 23 Takeover Speculation
CTCM - 26 Could continue but is getting extended
SOLF - 15.75 closed well
Depressed stocks the Ice Man may buy:
FMX - 33.90 Gap
FDP - 32.55 Gap
Dollar Man Ideas:
BHIP - 2.75
BQI - 5.20, 5.50
WWAT - 2.52
ACTS - 5.10
SSTR - 3.40
AEA - 9.90
SMP - 8.85
AVNX - 1.90
Media Commentators
Cramer's Comments:
Bullish: RL, JWN, TGT
Zacks:
BIDU - Hold
SUPX - Bearish
Louis Navellier:
Positive: ADBE, CIB, JDAS, NDAQ, SCHL, VMI, WDC;
Cautious: NDVA, PCR, TEN, TWH;
Ice Cold Commentators
Break Man Video Summary:
Break out buy (or short sell) watch list for short term gains October 30 includes: TTEK, CPTC, TTGL, TAP, MCZ, CCI, BMRN, RIG, BMY.
Several candidates for break out or short sell plays for at least short term gains by buying the break out (or selling the break down) on good volume and closing at least some on the first day.
CNBC Fast Money Review
1. RATE CUT HOPES BOOST STOCKS
The headline: Fed Rate Cut Hopes, Boeing Buyback Led Market Higher Monday.
Dylan Ratigan says the XLU led the market higher Monday ahead Of Fed decision.
Karen Finerman finds it surprising that the market continues to move, every day on the same news – the belief that the Fed will cut rates.
Pete Najarian feels a rate cut is already priced into the market, he just isn´t sure if it´s 25 or 50 basis points.
Guy Adami likes PEG in the utilities space.
2. OIL BREAKS $93
The headline: Crude Oil Jumps Nearly 2% To $93.53, New Record Close.
Dylan Ratigan reveals that there´s a wide belief gas prices will follow crude prices, higher.
Pete Najarian recommends keeping an eye on coal.
Guy Adami likes TSO.
Karen Finerman doesn´t agree with Adami. She doesn´t like that TSO isn´t paying a dividend.
3. EXXON MOBIL
The headline: XOM To Report Earnings Thursday Before The Bell
Guy Adami feels Exxon is rich on a valuation basis. He recommends taking money off the table and buying back this stock when it´s cheaper.
4. HOME IS WHERE THE TRADES ARE
Shares of PG, the maker of everything from Tide to Pringles jumped over the last three months, ahead of earnings Tuesday. Also, we get CLX on Wednesday. Should you trade your kitchen cabinet?
Macke likes PG over Clorox, because he feels PG will benefit from the weak dollar and he feels they are an incredibly well run company.
Adami agrees.
Finerman adds that PG trades at a lower P/E multiple and she sees it as a defensive play if the United States economy takes a turn for the worse.
Najarian thinks CL has more upside that Procter & Gamble.
5. CHIPS JOIN TECH TRADE
The headline: INTC, Chip Stocks Gain After Industry Report Shows Global Sales Rose 5.9%.
Macke tells the panel he still loves Intel.
Adami adds that DELL shares climbed after Goldman added the PC maker to its conviction buy list.
6. POPS AND DROPS
AXL popped 12%. Macke likes AXL as a long term buy.
LEH popped 4%: Finerman would rather be in GS.
SOHU popped 7%: Najarian thinks it´s a buy
GRMN popped 6%: Finerman does not recommend being long GRMN.
ODP dropped 14%: Adami doesn´t like that ODP is delaying Q3 results.
TUP dropped 4%: Najarian sees a buying opportunity.
7. YOUR FIRST MOVE FOR TUESDAY
Macke recommends selling some EMC.
Guy Adami thinks GILD is a buy.
Karen Finerman prefers WNG as an M&A play.
Pete Najarian thinks MER is going higher.
News and Events Digest
Breaking News
U.S. Steel Corp (X) said on Tuesday third-quarter profit fell 35 percent because of weaker tubular steel prices and lower shipments in its European business.
Net earnings were $269 million, or $2.27 per share, compared with $417 million, or $3.42 per share, a year earlier, the Pittsburgh-based steelmaker said. - Reuters
Truck builder Paccar Inc., of Bellevue, said Monday its board of directors authorized a $300 million stock repurchase plan. Paccar (NASDAQ: PCAR) said it had spent $978 million to buy back 27.4 million shares and paid $1.73 billion in dividends in the last three years. The company is more than a century old and is best known for building heavy duty trucks. - bizjournals
Google plans to unveil within the next two weeks a proposal to bring Google-powered phones to market by the middle of 2008. - WSJ
The NYSE and a dozen Wall Street firms plan to form a venture for investors who want to discreetly trade large blocks. - WSJ
Saks shareholder Baugur Group, an Icelandic investment firm, said it might make a joint bid to acquire the company. - WSJ
Under Armour (UA) on Tuesday said third-quarter net income rose 25% to $20 million, or 40 cents a share, from $16 million, or 32 cents a share in the year-ago period. Net revenue for the Baltimore-based clothing maker increased 46.3% to $186.9 million. Analysts expected earnings of 34 cents a share on revenue of $171 million, according to the average estimate in a survey of analysts by Thomson Financial. Under Armour lifted its 2007 revenue estimate to $590 million to $600 million from $580 million to $590 million. For 2008, the company said it expects net revenue and income from operations to exceed its long-term growth target of 20% to 25%. - MarketWatch
Superconductor Technologies Inc. (SCON), a leading provider of high performance infrastructure products for wireless voice and data applications, announced it has entered into a sales agreement to provide STI's SuperLink(r) solution to China Corporate Credit Assurance Co. Ltd. (CCAC) for deployment in 2G and 3G networks in China.
Drug developer Teva Pharmaceutical Industries Ltd. said Tuesday its third-quarter profit fell 13.4 percent as higher expenses offset a slight sales increase.
The Jerusalem-based company earned $525 million, or 64 cents per share, compared with a profit of $606 million, or 74 cents per share, during the same period a year prior. Revenue rose 4 percent to $2.37 billion from $2.29 billion.
Israeli drug developer Teva Pharmaceutical Industries Ltd. said Tuesday its longtime finance chief, Dan Suesskind, plans to retire in the middle of next year. - AP
Media Summary:
According to Reuters, Alan Greenspan say that the demand for subprime mortage securities is down.
Reuters writes that the UAW is gearing up for tough talks with Ford (F).
The Wall Street Journal reports that the Fed may not cut rates at all.
The Wall Street Journal writes that Google (GOOG) plans to announce plans for its G-Phone within the next two weeks.
The Wall Street Journal writes that some analysts believe that Countrywide (CFC) may have trouble keeping its plan to make a profit in Q4.
According to the FT, Countrywide (CFC) accused the federal government of doing nothiing to improve housing.
The FT writes that several private equity firms are in talks to sell stakes to a Chinese fund.
Barron's writes that Chinese firm Sohu (SOHU) bet its earnings forecast and the shares rose.
Bloomberg writes that Orcale (ORCL) may lower its bid for BEA Systems (BEAS) due to the lack of another buyer.
CNN Money writes that vulture investors have raised large sums to buy mortgage-back securities but have not used the money, an indication that they have further to fall.
Stock Split Announcements:
Dominion Resources, Inc. (Ticker: D) announced that its board of directors approved a 2 for 1 stock split.
Marshall & Ilsley Corporation (Ticker: MI) announced that its board of directors approved a stock split.
Economic Data:
10:00 Consumer Confidence
Upgrades and Downgrades by Sector:
Airlines
NWA Northwest Airlines Calyon Securities Cut Price Target Buy $25 to $23
Apparel
VLCM Volcom Caris & Company Downgraded from Above Average to Average $48 to $33
Auto Parts
WATG Wonder Auto Tech Piper Jaffray Initiated at Outperform $12
WATG WATG - initiated with an Outperform at Piper with $12 price target Initiated
Beverages
KOF Coca-Cola FEMSA JP Morgan Upgraded from Neutral to Overweight
Business Services
MAN Manpower Citigroup Upgraded from Hold to Buy
PRAA Portfolio Recovery Assoc. Kaufman Bros Downgraded from Buy to Hold $64 to $50
ICFI ICF International Stifel Nicolaus Downgraded from Buy to Hold
Computer Hardware
SSYS Stratasys Northland Securities Price Target Raised Outperform $26 to $36
SIGM SIGM - initiated with an Outperform at Robert Baird Initiated
Computer Services
SOHU SOHU - price target raised to $68 at Piper Price Target Raised
Computer Software
ACTU Actuate JMP Securities Upgraded from Mkt Perform to Mkt Outperform $9
VDSI VASCO Data Security RBC Capital Mkts Upgraded from Underperform to Sector Perform
SCUR Secure Computing Friedman Billings Price Target Raised Mkt Perform $7 to $8
Ethanol
USBE US BioEnergy UBS Upgraded from Neutral to Buy
Foods
WINN Winn-Dixie Stores HSBC Securities Cut Price Target Underweight $18 to $17
Gaming Operations
LVS Las Vegas Sands BMO Capital Markets Downgraded from Outperform to Market Perform
Gold and Silver Mining
NXG Northgate Minerals CIBC Wrld Mkts Upgraded from Sector Underperform to Sector Perform $3.35 to $3.80
ABX Barrick Gold HSBC Securities Price Target Raised Neutral $41 to $43
Healthcare
DUSA DUSA Pharma Roth Capital Price Target Raised Buy $4 to $5
Healthcare Equipment
EXAC Exactech Robert W. Baird Upgraded from Neutral to Outperform $18 to $21
NUVA NuVasive Dawson James Price Target Raised Buy $36 to $49
AMMD American Medical Stifel Nicolaus Downgraded from Buy to Hold
AMMD American Medical Piper Jaffray Downgraded from Outperform to Market Perform
DJO DJ Orthopedics Susquehanna Financial Downgraded from Positive to Neutral
Hotels - China
HMIN Home Inns Brean Murray Downgraded from Buy to Hold
Household Goods
TUP Tupperware Jefferies & Co Initiated at Buy $46
Industrial Equipment
GEHL Gehl BMO Capital Markets Upgraded from Market Perform to Outperform
ASTE Astec Industries Piper Jaffray Initiated at Outperform $59
Insurance
PTP Platinum Underwriters Banc of America Sec Upgraded from Neutral to Buy
Manufacturing
AYI Acuity Brands Robert W. Baird Upgraded from Neutral to Outperform $56
GRC Gorman-Rupp Company Friedman Billings Price Target Raised Mkt Perform $31 to $32
ROP Roper Inds Friedman Billings Price Target Raised Mkt Perform $66 to $67
KDN Kaydon Friedman Billings Cut Price Target Outperform $63 to $61
SWHC Smith & Wesson Northland Securities Cut Price Target Outperform $23 to $18
Mining - Minerals
CNX CONSOL Energy Friedman Billings Price Target Raised Outperform $68 to $78
Mining - Steel & Iron
SCHN Schnitzer Steel DA Davidson Upgraded from Underperform to Neutral
Motion Pictures
IMAX Imax Soleil Upgraded from Hold to Buy $7
Motor Vehicles
TWI Titan Intl Oppenheimer Price Target Raised Buy $30 to $36
Oil and Gas
NXY Nexen Friedman Billings Upgraded from Mkt Perform to Outperform $26 to $42
PCZ Petro-Canada Friedman Billings Upgraded from Mkt Perform to Outperform $51 to $70
SU Suncor Energy Friedman Billings Upgraded from Underperform to Mkt Perform $75 to $106
NXY NXY, PCZ, and SU - upgraded to Buy at FBR Upgraded
CNQ Canadian Natrl Res Friedman Billings Price Target Raised Mkt Perform $59 to $91
ECA EnCana Friedman Billings Price Target Raised Mkt Perform $66 to $75
EOG EOG Resources UBS Price Target Raised Neutral $83 to $88
TLM Talisman Energy Friedman Billings Price Target Raised Outperform $24 to $26
KGS Quicksilver Gas Wachovia Initiated at Outperform
Rental Services
RCII Rent-A-Center Ferris Baker Watts Downgraded from Buy to Neutral
Retail Trade
BEBE bebe stores Nollenberger Capital Cut Price Target Buy $19 to $18
KMX CarMax Bear Stearns Initiated at Underperform
Semiconductors
FORM FormFactor Citigroup Upgraded from Hold to Buy
AATI Advanced Analogic Tech Needham & Co Price Target Raised Buy $11 to $12
ATHR ATHR - price target raised to $38 at CEUT Price Target Raised
TWLL Techwell Roth Capital Price Target Raised Buy $16 to $17
CY Cypress Semi Kaufman Bros Initiated at Buy $41
LSI LSI Logic Kaufman Bros Initiated at Buy $8
NVDA NVIDIA Kaufman Bros Initiated at Buy $42
KLAC KLA-Tencor Friedman Billings Cut Price Target Mkt Perform $64 to $52
Specialty Funds
KEG Key Energy Friedman Billings Cut Price Target Outperform $25 to $20
Technology - Gaming
BYI Bally Technologies Roth Capital Price Target Raised Buy $39 to $50
Telecommunications
CSCO CSCO - price target raised to $38 at Piper Price Target Raised
NNDS NDS Group Kaufman Bros Price Target Raised Buy $62 to $69
ATHN AthenaHealth Jefferies & Co Initiated at Buy $46
TDC Teradata KeyBanc Capital Mkts Initiated at Buy $36
DVW Covad Jefferies & Co Downgraded from Buy to Hold $1.50 to $1.02
PWAV Powerwave Robert W. Baird Cut Price Target Outperform $8 to $7
Transportation
TGP Teekay LNG Partners Wachovia Upgraded from Mkt Perform to Outperform
MMLP Martin Midstream Wachovia Initiated at Outperform