Wednesday Morning, July 11th
Hidden Treasure News - CYRX
It's very possible CYRX gets otcbb approval in the next 5 days, but not guaranteed.
Note from the Company:
We have not heard anything from the NASD yet. Since we are approaching the end of the standard response time period, I am hopeful that we will hear something within the next 5 days or so.
First Capital Investors, Inc.
Investor Relations & Capital Markets Advisory
Dow Stock News
Walt Disney Co.'s (DIS) Disney-ABC Domestic Television will offer films for rent to U.S. members of Microsoft Corp.'s (MSFT) XboxLive online entertainment network. - MarketWatch
According to Reuters, private equity firms are going to start to target big miners like Alcoa (AA).
The FT writes that Microsoft (MSFT) believes that the large number of new game releases will drive up demand for its Xbox Live by 40% over the next year.
The Wall Street Journal writes that the issues of GE (GE) investing in sub-prime mortgages could affect its Q2 earnings.
Barron's reports that Goldman has added Cisco (CSCO) and Intel (INTC) to its Top Five Tech Value Stock list.
JNJ Johnson & Johnson Wachovia Initiated at Mkt Perform
Ice Man Stocks
Breakouts the Ice Man may consider trading:
IVGN - 75.50
EXM - 29.20
XRX - 20
MGA - 93.50 warning, 94.15 breakout
SKIL - 9.40
Regular Trades the Ice Man may consider:
STEC - 7
VRTX - 29
SIRF - 21.65
KDE - 15.65
JDSU - 15 = 16.60 Gap
KNSY - 29.20 = 31.55 Gap
Depressed stocks the Ice Man may buy:
BTJ - 48.50 Gap
MON - 63.35 Gap
CAL - 34 Gap
HWAY - 43 Gap
PCLN - 64.40 Gap
Dollar Man Ideas:
FNSR - 4.25
IVAN - 2.20
CEGE - 3.80
AVCI - 8
PACT - 5.40
Media Commentators
Cramer's Comments:
Bullish: COP, ENR, TCK, SVNT
Zacks Buy List additions:
FWLT, RBN
Ice Cold Commentators
Break Man Video Summary:
Break out buy watch list for short term gains July 11 includes: ANET, ENG, VIV, CPST, AA, JDSU, TZOO, ARA.
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. Word on the Street
Dow Gets Pounded
Macke: SHLD, homebuilders, HD dragged markets.
Bolling: Likes USG in this environment.
Finerman: Thinks USG will miss earnings.
Najarian: Volitility spiked today, fear in market.
Own Depot?
Finerman: 250 million shares buyback is important.
Najarian: Don't like HD, too closely tied to homebuilders.
Sears Suckers
Macke: Any other retailers better than SHLD.
Weathering the Storm
Bolling: Own XLU, XLE.
Down to a Science
Najarian: Keep eye on CSC. Options unchanges with stock down.
Trade Update: Fast vs Mad
Bolling: Would still own gold & oil for next six months than XLF.
A Secure Trade?
Najarian: Large volume of Aug 20 calls of SYMC.
Macke: Prefers MFE in space.
2. The Top 3
The Next Level For Video Games
Najarian: TTWO is laggard in video game space.
Macke: Play is stay long ATVI.
Frigid June For Retailers
Macke: SHLD dragged down sector. Avoid BEBE, ANF. Recommends SKS, COST on dips.
Defective Genentech
Najarian: Don't like DNA. Prefers BIIB, much better pipeline. Also likes ISIS for diabetes drugs.
3. Sector Trade
Jonesing For a Turnaround
Macke: Bullish on JSDA.
Najarian: 30% of float is short JSDA.
Bolling: Prefers HANS for energy drinks, PEP.
4. Sea Change
Wrinke Free Trade
Bolling: AGN is a hold.
Finerman: AGN is a buy.
Macke: AGN is a buy.
Najarian: AGN is a buy.
5. Final Trade
Bolling: GLD is a buy.
Finerman: Sell puts if market is down again, COP is a buy.
Najarian: BIIB is a buy.
Macke: ERTS, ATVI are buys.
News and Events Digest
Breaking News
Liz Claiborne seeking to divest itself of 16 of its 36 apparel brands, representing $800 million of its $5 billion in annual sales. - WSJ
The FCC has drafted rules for its radio-spectrum auction that would loosen the grip held by telecom operators on wireless and broadband markets and benefit Google and other tech firms. - WSJ
ITT Corp. (ITT) and prime contractor Fluor Corp. (FLR) said they've won one of three contracts from the U.S. Army to deliver a broad range of essential logistics support services to U.S. and allied forces during combat, peacekeeping, humanitarian and training operations. The award is for one year with nine one-year renewal options and has a potential value of $5 billion per year per contractor team. - MarketWatch
Inspire Pharmaceuticals Inc. (ISPH) said Wednesday it'll proceed to a Phase 3 clinical program to evaluate epinastine nasal spray for the treatment of allergic rhinitis, following a productive end-of-Phase 2 meeting with the U.S. Food and Drug Administration. "We feel we are on a clear path forward into Phase 3 clinical development of this product candidate," the company said. - MarketWatch
Ventana Medical Systems Inc.'s (VMSI) board rejected Roche Holding AG's (RHHBY) unsolicited $75 a share cash tender offer, calling the offer "inadequate in multiple respects." The Tuscon, Ariz., cancer diagnostics company said with the assistance of its financial and legal advisers, it determined the offer by the Swiss healthcare company is against the best interest of stockholders. Ventana recommended stockholders not tender their shares to Roche. The company said it intends to "vigorously resist" Roche's attempt to acquire it at the current offer price. - MarketWatch
UL - shares boosted on takeover speculation in Europe.
TXN is compared with INTC in the Wall Street Journal with TXN winning out being called a more diversified company. - WSJ
Media Summary:
Reuters writes that Rupert Murdoch's BSkyB added 90,000 subscribers over the last quarter.
Reuters writes that Genetech (DNA) has formed a partnership with Tercica (TRCA) to make drugs with human growth hormone.
The Wall Street Journal reports that Liz Claiborne (LIZ) plans to divest 16 of its 36 brands.
The Wall Street Journal writes that S&P and Moody's have downgraded bonds back by sub-prime mortgages.
The Wall Street Journal reports that homes build by KB Home (KBH) and partially designed by Martha Stewart are still selling well.
The FT reports that Nielsen NetRating will launch a new measurement service based on time spent at websites.
M&A Activity:
Alcan (AL) has begun negotiating a merger agreement with Rio Tinto (RTP) as it seeks to fend off a hostile bid from Alcoa (AA), The Globe and Mail newspaper reported Wednesday, citing unnamed sources. Rio Tinto already has a major bauxite operation in Australia, as does Alcan, which would give the combined company a powerful hold in one of the key materials in aluminum production, the report noted. BHP Billiton (BHP) on Tuesday was reported to have focused on buying Alcoa. - MarketWatch
India's Megasoft has agreed to buy Boston Communications (BCGI) for $65 million, or $3.60 a share. The billing systems services provider closed Tuesday at $1.99 a share. - MarketWatch
Steelmaker Gerdau Ameristeel Corp. said late Tuesday it is buying Chaparral Steel Co. for $4.22 billion in order to further diversify its offerings.
The $86 per share purchase price is a 14 percent premium over Chaparral's closing price of $75.69 on Tuesday. - AP
Ceradyne Inc. (CRDN) acquired Minco Inc. for about $27.5 million in cash. Minco, Midway, Tenn., manufactures fused silica powders for industrial applications. Its annual sales are estimated to be in the low $20 million range. Ceradyne, Costa Mesa, Calif., makes and sells advanced technical ceramics. In 2006, the company had revenue of about $662.8 million. - MarketWatch
IPO Central:
Dolan Media Company (DM) on Wednesday said it plans to offer 10.5 million shares at $13.50-$15.50 a share in a bid to raise about $131 million in its upcoming initial public offering. The Minneapolis-based seller of business information and professional services to the legal, financial and real estate sectors plans to trade on the New York Stock Exchange under the symbol DM. Goldman Sachs and Merrill Lynch are underwriting the IPO.
Economic Data:
10:30 Crude Inventories
Summary of recent stock split announcements:
On July 6, Green Mountain Coffee Roasters, Inc. (Nasdaq:GMCR) announced that its board of directors approved a 3:1 stock split to be distributed on July 27, 2007.
On July 10, Diodes Incorporated (Nasdaq:DIOD) announced that its board of directors approved a 3:2 stock split to be payable on July 30, 2007.
Companies that have previously announced stock splits which become effective in the next several trading days.
Ex-Date Split Symbol Company
7/12 2:1 FTK Flotek Industries, Inc.
7/13 5:1 TPL Texas Pacific Land Trust
7/17 3:2 SNHY Sun Hydraulics Corp.
7/23 2:1 IOSP Innospec Inc.
7/30 3:1 GMCR Green Mountain Coffee Roasters
7/31 2:1 SJR Shaw Communications, Inc.
7/31 3:2 DIOD Diodes Incorporated
Upgrades and Downgrades by Sector:
Aerospace
GD General Dynamics UBS Price Target Raised Buy $92 to $98
Apparel
UA Under Armour UBS Price Target Raised Buy $54 to $64
Beverages
PBG Pepsi Bottling HSBC Securities Price Target Raised Neutral $36 to $38
CCH CHH, MAR - CIBC likes and thinks there could be additional stock buybacks</p>
Brokerage Services
CME Chicago Mercantile Deutsche Securities Downgraded from Buy to Hold $580
ICE ICE - reinstated with an Outperform at WBLR
Business Services
EFX Equifax JMP Securities Upgraded from Mkt Perform to Mkt Outperform $50
PRAA Portfolio Recovery Assoc. Kaufman Bros Initiated at Buy $74
Computer Hardware
SNDK SanDisk Piper Jaffray Price Target Raised Outperform $51 to $60
ELX Emulex UBS Initiated at Buy $28
TEL Tyco Electronics Lehman Brothers Initiated at Overweight $45
SNDK SNDK - price target raised to $60 at Piper Jaffray
Computer Software
MDRX Allscripts Caris & Company Upgraded from Above Average to Buy $30
TLEO Taleo Cantor Fitzgerald Price Target Raised Buy $23 to $28
SOFO Sonic Foundry Merriman Curhan Ford Initiated at Buy
ATVI Activision JP Morgan Downgraded from Overweight to Neutral
VTAL Vital Images Jefferies & Co Downgraded from Buy to Hold $39 to $20
VTAL Vital Images Needham & Co Cut Price Target Buy $33 to $25
Construction
VMC Vulcan Materials Matrix Research Upgraded from Hold to Buy
PCR Perini UBS Price Target Raised Neutral $55 to $71
RPM RPM Inc Banc of America Sec Initiated at Buy $27
USG USG Corp Banc of America Sec Initiated at Sell $42
VMC Vulcan Materials KeyBanc Capital Mkts / McDonald Initiated at Buy $135
Educational Services
STRA Strayer Education Citigroup Upgraded from Sell to Hold
Electronics
DEIX Directed Electronics Wachovia Downgraded from Outperform to Mkt Perform
DEIX Directed Electronics Needham & Co Cut Price Target Buy $12.50 to $12
Finance Companies
STT State Street HSBC Securities Price Target Raised Neutral $68.09 to $73.90
Foods
CPB Campbell Soup JP Morgan Upgraded from Neutral to Overweight
Healthcare
FRX Forest Labs UBS Upgraded from Neutral to Buy
PRX Par Pharmaceutical Friedman Billings Price Target Raised Mkt Perform $29 to $32
ABT Abbott Labs Wachovia Initiated at Outperform
AGN Allergan Wachovia Initiated at Outperform
QLTI QLT Inc RBC Capital Mkts Cut Price Target Sector Perform $8 to $7
Healthcare Equipment
BOL Bausch & Lomb Wachovia Initiated at Mkt Perform
EW Edwards Lifesci Wachovia Initiated at Outperform
MDT Medtronic Wachovia Initiated at Outperform
KYPH Kyphon Needham & Co Downgraded from Strong Buy to Buy $58
AIS Antares Pharma Friedman Billings Cut Price Target Outperform $3.25 to $3
MS Morgan Stanley HSBC Securities Cut Price Target Neutral $89.10 to $79.80
Homebuilders
CTX Centex Pali Research Initiated at Buy $50
LEN Lennar Pali Research Initiated at Sell $30
Hotels and Motels
HLT Hilton Hotels Stifel Nicolaus Downgraded from Buy to Hold
Household Goods
MAS Masco Pali Research Initiated at Buy $35
SCSS Select Comfort Cathay Financial Initiated at Outperform $22
Insurance
UNH UnitedHealth Lehman Brothers Resumed Coverage Overweight $59
Major Pharmaceutical
ACL Alcon Wachovia Initiated at Outperform
Motor Vehicles
CAE Cascade Rodman & Renshaw Downgraded from Mkt Perform to Mkt Underperform $70
Multi-National Banks
BK Bank of NY HSBC Securities Price Target Raised Neutral $40.74 to $48.54
Oil and Gas
BAS Basic Energy Services RBC Capital Mkts Downgraded from Outperform to Sector Perform
BJS BJ Services RBC Capital Mkts Downgraded from Outperform to Sector Perform
GW Grey Wolf RBC Capital Mkts Downgraded from Outperform to Sector Perform
HAL Halliburton RBC Capital Mkts Downgraded from Outperform to Sector Perform
KEGS Key Energy Services RBC Capital Mkts Downgraded from Outperform to Sector Perform
NBR Nabors Ind RBC Capital Mkts Downgraded from Outperform to Sector Perform
PTEN Patterson-UTI RBC Capital Mkts Downgraded from Outperform to Sector Perform
Drillers downgraded at Merrill
Paper and Packaging
RKT Rock-Tenn Deutsche Securities Upgraded from Hold to Buy $40
Personal Services
CLUB Town Sports Intl Stifel Nicolaus Cut Price Target Buy $27 to $25
Pharmaceutical
JAZZ Jazz Pharma Lehman Brothers Initiated at Overweight $27
Real Estate
CBG CB Richard Ellis JMP Securities Initiated at Strong Buy $48
Recreation
ISCA Intl Speedway AG Edwards Upgraded from Sell to Hold
REITs
CLP Colonial Properties BMO Capital Markets Upgraded from Underperform to Market Perform
ESS Essex Property Lehman Brothers Upgraded from Equal-weight to Overweight
Restaurants
YUM YUM! Brands UBS Upgraded from Neutral to Buy
CPKI California Pizza Friedman Billings Cut Price Target Outperform $27 to $26
Retail Trade
DFS Discover Financial Services Calyon Securities Upgraded from Sell to Neutral $24
DKS Dick's Sporting Goods Robert W. Baird Initiated at Outperform $70
LOW Lowe's Banc of America Sec Cut Price Target Buy $43 to $35
PTRY Pantry HSBC Securities Cut Price Target Overweight $57 to $51
Retail Trade-Beverge
JMBA Jamba Morgan Joseph Initiated at Buy $13
Savings & Loan
NTBK NetBank Friedman Billings Coverage Dropped
Securites Exchange
NYX NYSE Euronext Lehman Brothers Upgraded from Equal-weight to Overweight
Semiconductors
MU Micron WR Hambrecht Upgraded from Hold to Buy $17
ANAD Anadigics Credit Suisse Downgraded from Outperform to Neutral
ARMHY ARM Holdings Credit Suisse Downgraded from Outperform to Neutral
ATHR Atheros Communications AG Edwards Downgraded from Buy to Hold
TSM Taiwan Semi UBS Downgraded from Buy to Neutral
SWKS Skyworks Credit Suisse Cut Price Target Neutral $8.50 to $7
Solar Cells - China
JASO JA Solar Needham & Co Downgraded from Buy to Hold
Solar Energy
LDK LDK Solar Piper Jaffray Initiated at Outperform $49
Telecommunications
ROSE Rosetta Resources Matrix Research Upgraded from Buy to Strong Buy
BGC General Cable Stifel Nicolaus Price Target Raised Buy $73 to $91
Transpo - Shipping
ESEA Euroseas Oppenheimer Upgraded from Neutral to Buy $17
ESEA Euroseas Cantor Fitzgerald Price Target Raised Hold $12 to $13
Transpo - Tankers
NM Navios Maritime Oppenheimer Upgraded from Neutral to Buy $16