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UPDATE: Bank Of America Downgrades Standard Pacific Corp.

Courtesy of Benzinga.

Related SPF
Benzinga's Top Downgrades
Bank of America Downgrades Standard Pacific To Neutral

In a note released Monday, Bank of America analyst Michael Roxland downgraded shares of Standard Pacific Corp. (NYSE: SPF) from Buy to Neutral and lowered the price target from $9 to $8.50.

Roxland commented, "Our thesis on SPF had centered on the company's ability to maintain gross margins at higher levels than it has historically while also experiencing better order growth than peers given its positioning and targeted demographic." He added, "While we still believe the company will post strong gross margins and order growth long-term, in the near-term, SPF is currently experiencing some headwinds".

Looking on the bright side, Roxland noted Standard Pacific has undertaken a number of initiatives that, if successful, could ultimately benefit the company. Included in these initiatives are a share buyback program and a cost take-out.

Latest Ratings for SPF

Date Firm Action From To
Nov 2014 Bank of America Downgrades Buy Neutral
Oct 2014 Compass Point Maintains Buy
Sep 2014 JP Morgan Downgrades Neutral Underweight

View More Analyst Ratings for SPF
View the Latest Analyst Ratings

Posted-In: Bank of America Michael RoxlandAnalyst Color Downgrades Price Target Analyst Ratings





Benzinga's Top Downgrades

Courtesy of Benzinga.

Related CBI
Goldman Sachs Downgrades Chicago Bridge & Iron To Sell
CB&I Announces Plant Services Contract Renewal By Arizona Public Service
How TRIA Renewal Could Impact Construction (Fox Business)

Related XOM
Raymond James Downgrades Exxon Mobil To Market Perform
Dow 30 Stock Roundup: Walmart, Cisco Post In-Line Results, Boeing Gets $8.5B Order
Making Money With Charles Payne: 11/19/14 (Fox Business)

Analysts at Goldman Sachs downgraded Chicago Bridge & Iron Company N.V. (NYSE: CBI) from Neutral to Sell. The price target for Chicago Bridge & Iron has been lowered from $61 to $46. Chicago Bridge & Iron’s shares closed at $57.09 on Friday.

Analysts at Raymond James downgraded Exxon Mobil (NYSE: XOM) from Outperform to Market Perform and removed the price target of 106. Exxon Mobil’s shares closed at $96.81 on Friday.

Analysts at JMP Securities downgraded Cash America International (NYSE: CSH) from Market Outperform to Market Perform. Cash America’s shares closed at $25.20 on Friday.

Analysts at Bank of America downgraded Standard Pacific (NYSE: SPF) from Buy to Neutral. The price target for Standard Pacific has been lowered from $9 to $8.50. Standard Pacific’s shares closed at $7.58 on Friday.

Latest Ratings for CBI

Date Firm Action From To
Nov 2014 Goldman Sachs Downgrades Neutral Sell
Nov 2014 Credit Suisse Maintains Neutral
Oct 2014 Credit Suisse Maintains Neutral

View More Analyst Ratings for CBI
View the Latest Analyst Ratings

Posted-In: Top DowngradesDowngrades Analyst Ratings





Sarepta Therapeutics Shares Trending Higher Amid Sector M&A

Courtesy of Benzinga.

Shares of Sarepta Therapeutics Inc (NASDAQ: SRPT) are in play on Monday amid consolidation announcements within the sector.

On Monday, BioMarin Pharmaceutical Inc. announced the company will acquire Prosensa Holding NV for roughly $680 million.

On the heels on the announcement, shares of Sarepta were up 10 percent.

Posted-In: News M&A Pre-Market Outlook





UPDATE: Bank Of America Upgrades Kate Spade

Courtesy of Benzinga.

Heather Balsky of Bank of America upgraded shares of Kate Spade & Co (NYSE: KATE) to Buy from Neutral on Monday with a price target raised to $34 from a previous $33.

“Based on our handbag survey results, we think Kate Spade can offset fewer markdown sales with greater full price sell-through, and continue to post comp and earnings beats,” Balsky wrote in a note to clients.

The analyst adds that a projected 45 percent growth outlook on higher comp and margins are not currently factored in to share prices and that the company can see “robust” comp growth as promotions decline.

According to an internal consumer survey, Balsky concluded that fewer Kate Spade customers seek deals and promotions as purchasing an item with a superior fashion and design is more important. The analyst adds that the consumer survey helps to explain the company’s third-quarter 15 percent comp gain, despite less discounting and ongoing weak mall traffic.

Balsky expects the habits of Kate Spade consumers to continue in to 2015. The analyst is modelling 16 percent comps in fiscal 2015, above the consensus estimate of 13.5 percent.

Looking further, the analyst expects fiscal 2016 adjusted EBITDA margins to improve an additional 550 basis points to 18.2 percent from fiscal 2014 estimates. Within the next five years, the analyst expects margins to reach the low 20s.

Latest Ratings for Kate

Date Firm Action From To
Nov 2014 Bank of America Upgrades Neutral Buy
Nov 2014 Barclays Maintains Overweight
Nov 2014 Bank of America Maintains Neutral

View More Analyst Ratings for Kate
View the Latest Analyst Ratings

Posted-In: Bank of America Consumers Heather Balsky Kate SpadeAnalyst Color Upgrades Price Target Analyst Ratings





Longbow Research Initiates Whole Foods Market With Underperform

Courtesy of Benzinga.

Related WFM
Whole Foods Market, Up 22% In 3 Days, Takes Breather
Did Whole Foods Call A Bottom In Its Own Stock Ahead Of Earnings?
Making Money With Charles Payne: 11/6/14 (Fox Business)

Analysts at Longbow Research initiated coverage on shares of Whole Foods Market (NASDAQ: WFM) with a Underperform rating.

The target price for Whole Foods Market is set to $37.

Whole Foods Market shares have dropped 14.06% over the past 52 weeks, while the S&P 500 index has gained 14.48% in the same period.

Whole Foods Market’s shares rose 1.13% to close at $48.23 on Friday.

Latest Ratings for WFM

Date Firm Action From To
Nov 2014 Longbow Research Initiates Coverage on Underperform
Nov 2014 William Capital Group Reiterates Outperform
Nov 2014 Citigroup Maintains Neutral

View More Analyst Ratings for WFM
View the Latest Analyst Ratings

Posted-In: Longbow ResearchInitiation Analyst Ratings





Bank Of America Downgrades Wesco Aircraft

Courtesy of Benzinga.

Related WAIR
Mid-Day Losers From November 21: GameStop, Wesco Aircraft, Aruba Networks, TASER, The Gap
Earnings Scheduled For November 20, 2014

Bank of America downgraded Wesco Aircraft Holdings Inc (NYSE: WAIR) from Buy to Underperform Monday and set a $26 price target after missing Q4 estimates.

Analyst Ronald J. Epstein derived the $26 price target “using a 17x one-year forward P/E multiple on CY15E earnings.”

“Our multiple is based on a weighted average mix of defense and commercial aerospace. We believe WAIR should trade at a slight premium to pure defense names and pure commercial aerospace names (at 13x and 15x, respectively) given its strategy and the company's positioning, which should benefit from an expanding commercial aerospace cycle,” according to Epstein.

The analyst note saw that “risks to the downside could come from an economic slowdown that would likely lower OEM production rates, higher oil prices that would likely derail air traffic growth and, therefore, aircraft demand, fewer ad hoc sales that would compress margins, and deeper cuts to the DoD budget than currently anticipated, which could impact key programs, such as the F-35.”

Epstein conclude that “if the commercial aerospace production ramp is more robust than we anticipate and/or the cuts to the DoD budget less severe than we anticipate, earnings could fare better than our projections and the stock could perform better. If margins fare better than we are forecasting, there could also be upside to our valuation.”

Wesco Aircraft Holdings recently traded at $14.45, up 3.36 percent.

Latest Ratings for WAIR

Date Firm Action From To
Nov 2014 Bank of America Downgrades Buy Underperform
Nov 2014 Barclays Downgrades Overweight Equal-weight
Nov 2014 Citigroup Maintains Buy

View More Analyst Ratings for WAIR
View the Latest Analyst Ratings

Posted-In: Bank of America Ronald J. EpsteinAnalyst Color Downgrades Price Target Analyst Ratings





UPDATE: Bank Of America Upgrades Banco Bilbao Vizcaya Argentaria

Courtesy of Benzinga.

Related BBVA
UPDATE: Deutsche Bank Upgrades Banco Bilbao Vizcaya Argentaria
The 11 Best Banks for Life's Biggest Firsts

Bank of America upgraded Banco Bilbao Vizcaya Argentaria SA (ADR) (NYSE: BBVA) from Underperform to Neutral Monday and cut its price target from $11 to $10.49.

The analyst report noted that the share price is down 9 percent YTD and now offers little downside.

Analysts led by Sergio Gamez noted that “BBVA announced on 19 November the acquisition of 14.89 percent stake in Garanti from the Dogus group, increasing its share to 39.9 percent at a max TRY8.9/sh (no premium to the closing price).”

“To fund the transaction, BBVA declared a €2bn accelerated bookbuilding offer, implying a c.4 percent share-count increase. The deal adds c.1 percent to 2015-16E EPS and is NAPVS accretive on our estimates,” according to Gamez

Gamez observed that the “acquisition makes BBVA the main shareholder (39.9 percent) in a leading franchise (c.11percent market share) in the attractive Turkish banking sector. It also adds potential growth to BBVA’s P&L and increases the group’s geographical diversification.”

“Our main concern relates to geopolitical risk in Turkey and the franchises in Venezuela and Argentina,” the report concluded.

Banco Bilbao Vizcaya Argentaria recently traded at $10.60, up 2.32 percent.

Latest Ratings for BBVA

Date Firm Action From To
Nov 2014 Bank of America Upgrades Underperform Neutral
Oct 2014 Deutsche Bank Upgrades Hold Buy
Nov 2013 Bank of America Downgrades Neutral Underperform

View More Analyst Ratings for BBVA
View the Latest Analyst Ratings

Posted-In: Bank of America Sergio GamezAnalyst Color Upgrades Price Target Analyst Ratings





ChinaCache Announces Strategic Partnership With Aspera To Provide Large Data File Transmission

Courtesy of Benzinga.

Related CCIH
Earnings Scheduled For November 19, 2014
Earnings Scheduled For August 19, 2014

ChinaCache International Holdings Ltd. (“ChinaCache” or the “Company”) (Nasdaq: CCIH), the leading total solutions provider of Internet content and application delivery services in China, today announced that it has formed a strategic partnership with Aspera to provide best-performance high-speed data transmission services for large files. Aspera, an IBM company, developed the technologies that move the world’s data at maximum speeds.

ChinaCache will combine its high quality CDN network service with Aspera’s FASP™ transmission technology to ensure high-speed transmission of large data files around the globe, with the added benefits of safety, controllability, cost-effectiveness and flexibility. The combination can increase the data transmission speed by 3 to 184 times, while enhancing the connectivity and stability of networks, as well as the security of data transmission. When sending large files, this high-speed file transmission service delivers peak performance even with poor network dynamics. The ChinaCache – Aspera solution addresses the long-distance transmission needs of television networks, research institutions, government agencies, financial institutions and top 500 enterprises.

“The unprecedented growth of file sharing demands in the age of big data brings higher requirements and challenges to network transmission ability. Partnering with Aspera, ChinaCache will provide clients with a world-class high-speed file transmission service and guarantee an optimal end-user experience through the premier FASP transmission technology,” said Mr. Song Wang, Founder, Chairman and Chief Executive Officer of ChinaCache.

Posted-In: News M&A Press Releases





UPDATE: Raymond James: Oil Prices, Oil Stocks 'Within Weeks Of Bottoming'

Courtesy of Benzinga.

Related HES
Raymond James Looks For Bottom In Oil
Benzinga's Top Upgrades
Energy Stocks Move Higher as Oil Spikes (Fox Business)

Pavel Molchanov of Raymond James believes that oil prices and energy stocks are within weeks of bottoming, regardless of the outcome from OPEC's upcoming meeting on Thursday.

“That certainly does not mean that we envision a huge near-term oil rally, but even a period of stabilization would support recovery in energy stocks, particularly given the prospect of sector rotation into energy and out of the recently outperforming S&P sectors,” Molchanov wrote in a note on Monday while issuing two upgrades and downgrades.

Hess, Occidental Petroleum Upgraded

Molchanov upgraded shares of Hess Corp. (NYSE: HES) to Outperform from Market Perform while shares of Occidental Petroleum Corporation (NYSE: OXY) were upgraded to Strong Buy from Outperform.

The analyst notes that Hess and Occidental Petroleum are “by no means the most aggressive oil stocks” but the companies are “highly oil-centric” and have underperformed amid the energy sector since the end of June.

Chevron, Exxon Downgraded

Molchanov downgraded shares of Chevron Corporation (NYSE: CVX) to Outperform from Strong Buy while shares of Exxon Mobil Corporation (NYSE: XOM) were downgraded to Market Perform from Outperform.

The analyst notes that the two companies are “among the world's most conservative energy investments” and have held up “quite well” in recent months. However, with a “less violent” commodity backdrop, shares are unlikely to outperform as investors develop an appetite for “more offensive-type” investments.

Latest Ratings for HES

Date Firm Action From To
Nov 2014 Raymond James Upgrades Market Perform Outperform
Nov 2014 Credit Suisse Maintains Outperform
Oct 2014 ISI Group Upgrades Hold Buy

View More Analyst Ratings for HES
View the Latest Analyst Ratings

Posted-In: Chevron Exxon hess occidental petroleumAnalyst Color Upgrades Downgrades Analyst Ratings





UPDATE: Stifel Initiates Coverage On Deere & Company On Mixed Factors

Courtesy of Benzinga.

Related DE
Shares of Deere & Company Move On Revised USDA Production Figures
Top 4 NYSE Stocks In The Farm & Construction Machinery Industry With The Highest EPS
Some Firms Will Benefit from Falling Corn Prices (Fox Business)

In a report published Friday, Stifel analyst Robert Connors initiated coverage on Deere & Company (NYSE: DE) with a Hold rating.

In the report, Stifel noted, “DE stock is tied to the pricing power of farm commodities, and we believe the secular bull market is over. We believe it takes two years for crop prices to impact equipment sales, and we see a 28% drop in North American high horsepower farm equipment sales from the January 2014 peak. Pending a return to ethanol profitability, exports remain an opportunity for U.S. corn. But offsetting this, we see rising export competition from the Black Sea region.”

Deere & Company closed on Thursday at $86.33.

Latest Ratings for DE

Date Firm Action From To
Nov 2014 Stifel Nicolaus Initiates Coverage on Hold
Oct 2014 Citigroup Maintains Buy
Oct 2014 Bank of America Downgrades Neutral Underperform

View More Analyst Ratings for DE
View the Latest Analyst Ratings

Posted-In: Robert Connors StifelAnalyst Color Initiation Analyst Ratings





 
 
 

Zero Hedge

Currency Wars Reignite As Yuan Tumbles Most In 2 Months And Chinese Bond Market Freezes

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Did China just re-enter the currency wars? The Chinese Yuan dropped 0.29% overnight - its biggest drop since September and 2nd biggest devaluation since March - as the currency tumbles back in line with the PBOC's fixing for the first time in over 3 months. Despite 'hopes', S&P confirms the recent (and reconfirmed) rate cut doesn’t signal renewed government intentions to resort to aggressive stimulus to prop up economy. More troubling is the fact that China's huge corporate debt market appears to be freezing as ...



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Chart School

Weekly Gasoline Price Update: Down Another Seven Cents

Courtesy of Doug Short.

It's time again for my weekly gasoline update based on data from the Energy Information Administration (EIA). Rounded to the penny Regular dropped another seven cents and Premium six. Regular is now at its lowest price since November 2010. Will the price decline in gasoline boost discretionary spending as we approach the holiday season? Stay tuned!

According to GasBuddy.com, Hawaii has the highest cost at $3.88. The highest continental average price is in New York at $3.18. Missouri and South Carolina are tied for the cheapest Regular at $2.55.

How far are we from the interim high prices of 2011 and the all-time highs of 2008? Here's a visual answer.

...



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Phil's Favorites

Fed "Mystified" Why Millennials Still Live at Home; My Answer May Surprise You (It Isn't Jobs, Student Debt, or Housing)

Courtesy of Mish.

A New York Fed research paper wonders What’s Keeping Millennials at Home? Is it Debt, Jobs, or Housing?

The paper says "it's a mystery" why the housing recovery did not have a bigger impact on millennials living at home.

The research paper, written by Zachary Bleemer, Meta Brown, Donghoon Lee, and Wilbert van der Klaauw notes correlations to debt, jobs and housing.

Yet, "student debt only explains about 10% of the increase in parental coresidence since 2004, with another 10% being explained by house prices during the mid-2000s".

I have the answer below, but first a few charts and notes on the charts.

Notes:

  • CCP is the Federal Reserve Bank of New York’s Equifax-Sourced Consumer...



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All About Trends

Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Sabrient

Sector Detector: Holiday fever takes hold of stock investors, but a pullback is needed

Courtesy of Sabrient Systems and Gradient Analytics

With warmer weather arriving to melt the early snowfall across much of the country, investors seem to be catching a severe case of holiday fever and positioning themselves for the seasonally bullish time of the year. And to give an added boost, both Europe and Asia provided more fuel for the bull’s fire last week with stimulus announcements, particularly China’s interest rate cut. Yes, all systems are go for U.S. equities as there really is no other game in town. But nothing goes up in a straight line, not even during the holidays, so a near-term market pullback would be a healthy way to prevent a steeper correction in January.

In this weekly update, I give my view of the current market environment, offer a technical analysis of the S&P 500 chart, review our weekly fundamentals-based Sector...



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Digital Currencies

Bitcoin Mining

Bitcoin Mining

Courtesy of Global Economic Intersection

By Rod Garratt and Rosa Hayes - Liberty Street Economics, Federal Reserve Bank of New York

In June 2014, the mining pool Ghash.IO briefly controlled more than half of all mining power in the Bitcoin network, awakening fears that it might attempt to manipulate the blockchain, the public record of all Bitcoin transactions. Alarming headlines splattered the blogosphere. But should members of the Bitcoin community be worried?

Miners are members of the Bitcoin community who engage in a proce...



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OpTrader

Swing trading portfolio - week of November 25th, 2014

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Insider Scoop

UPDATE: Bank Of America Upgrades Kate Spade

Courtesy of Benzinga.

Heather Balsky of Bank of America upgraded shares of Kate Spade & Co (NYSE: KATE) to Buy from Neutral on Monday with a price target raised to $34 from a previous $33.

“Based on our handbag survey results, we think Kate Spade can offset fewer markdown sales with greater full price sell-through, and continue to post comp and earnings beats,” Balsky wrote in a note to clients.

The analyst adds that a projected 45 percent growth outlook on higher comp and margins are not currently factored in to share prices and that the company can see “robust” comp growth as promotions decline.

According to an internal consumer survey, Balsky concluded that fewer Kate Spade customers seek deals and promotions as purchasing an item with a superior fashion and design is more im...



http://www.insidercow.com/ more from Insider

Stock World Weekly

Stock World Weekly

Newsletter writers are available to chat with Members regarding topics presented in SWW, comments are found below each post.

Here's the Happy Thanksgiving Edition of Stock World Weekly!

Click on this link and sign in with your PSW user name and password. 

Picture via Pixabay.

...

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Market Shadows

Official Moves in the Market Shadows' Virtual Portfolio

By Ilene 

I officially bought 250 shares of EZCH at $18.76 and sold 300 shares of IGT at $17.09 in Market Shadows' Virtual Portfolio yesterday (Fri. 11-21).

Click here for Thursday's post where I was thinking about buying EZCH. After further reading, I decided to add it to the virtual portfolio and to sell IGT and several other stocks, which we'll be saying goodbye to next week.

Notes

1. th...



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Option Review

Yamana Gold call options sink

Yamana Gold call options sink

By Andrew Wilkinson at Interactive Brokers

A four-year low for the spot price of gold has had a devastating impact on Yamana Gold (Ticker: AUY), with shares in the name down at the lowest price in six years. Some option traders were especially keen to sell premium and appear to see few signs of a lasting rebound within the next five months. The price of gold suffered again Wednesday as the dollar strengthened and stock prices advanced. The post price of gold fell to $1145 adding further pain to share prices of gold miners. Shares in Yamana Gold tumbled to $3.62 and the lowest price since 2008 as call option sellers used the April expiration contract to write premium at the $5.00 strike. That strike is now 38% above the price of the stock. Premium writers took in around 16-cents per contract o...



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Pharmboy

Biotechs & Bubbles

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

Well PSW Subscribers....I am still here, barely.  From my last post a few months ago to now, nothing has changed much, but there are a few bargins out there that as investors, should be put on the watch list (again) and if so desired....buy a small amount.

First, the media is on a tear against biotechs/pharma, ripping companies for their drug prices.  Gilead's HepC drug, Sovaldi, is priced at $84K for the 12-week treatment.  Pundits were screaming bloody murder that it was a total rip off, but when one investigates the other drugs out there, and the consequences of not taking Sovaldi vs. another drug combinations, then things become clearer.  For instance, Olysio (JNJ) is about $66,000 for a 12-week treatment, but is approved for fewer types of patients AND...



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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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