In a report published Thursday, Morgan Stanley analyst David R. Lewis reiterated an Overweight rating and $91.00 price target on Stryker Corporation (NYSE: SYK).
In the report, Morgan Stanley noted, “We approached the analyst day looking for a commitment to leverage and improving M&A returns and left mostly satisfied. There was no commentary on SNN given UK takeover rules, but we remain unconvinced SNN can drive appropriate returns for shareholders at this time.”
Stryker Corporation closed on Wednesday at $83.94.
Analysts at Goldman Sachs downgraded Peabody Energy (NYSE: BTU) from Neutral to Sell. The target price for Peabody Energy has been lowered from $15 to $13. Peabody Energy’s shares closed at $14.19 yesterday.
RBC Capital downgraded Southwestern Energy Company (NYSE: SWN) from Outperform to Sector Perform. The target price for Southwestern Energy has been lowered from $50 to $45. Southwestern Energy’s shares closed at $37.51 yesterday.
Analysts at Wells Fargo downgraded Pier 1 Imports (NYSE: PIR) from Outperform to Market Perform. Pier 1 Imports’ shares closed at $15.54 yesterday.
Analysts at RBC Capital downgraded Denbury Resources (NYSE: DNR) from Outperform to Sector Perform. The target price for Denbury Resources has been lowered from $20 to $19. Denbury Resources’ shares closed at $16.00 yesterday.
In a report published Thursday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating and $8.00 price target on Superior Drilling Products, Inc. (NYSE: SDPI).
In the report, Wunderlich Securities noted, “Superior Drilling Products (SDPI) is working toward the change of a game that shows the horizontal drilling play hasn’t yet been made efficient. While a disruptive technology, it is also seemingly progress, which, in our view, shows just how early-stage we are in the efficiency of the very efficiencies that many seek. SDPI continues to work toward improving the efficiencies of drilling vertical and horizontal wells, and we believe it’s an investment and idea that can be a driver in the continued efficiencies. As such, we remain bullish on SDPI and its prospects to grow revenues, EBITDA, and EPS nicely.”
Superior Drilling Products, Inc. closed on Wednesday at $7.18.
Darden Restaurants, Inc. (NYSE: DRI) today issued the following statement in connection with the Company’s 2014 Annual Meeting of Shareholders:
The experience, insights and objectivity of Darden’s directors have been – and will continue to be – important drivers to the Company’s ability to enhance shareholder value, advance its operating priorities and execute the Olive Garden^® Brand Renaissance. The composition of our Board, including both its independence and diversity of talent and experience, is critical to Darden’s future success. Given the people facing nature of Darden’s business, we also believe continuity of knowledge and relationships is important to the engagement, retention and motivation of Darden’s management team and to the success of the operating strategies that we are implementing.
Accordingly, we have carefully assembled a new slate of director nominees to ensure that Darden has the right experience, insights, continuity and perspectives that are necessary to successfully execute the Company’s strategies, including the Olive Garden Brand Renaissance, and enhance value for ALL Darden shareholders. We believe Darden’s new slate provides the optimal balance of fresh perspectives from four new, highly qualified independent nominees, continuity of experience and insight from four highly qualified continuing independent nominees, and four seats to be filled by Starboard Value L.P. and its affiliates (“Starboard”). The slate includes:
o Four new independent nominees unaffiliated with the Company or Starboard: Gregory L. Burns, Jeffrey H. Fox, Steve Odland, and Enrique Silva. These new independent nominees, all of whom are current or former Chief Executive Officers with experience driving turnarounds, provide additional international restaurant, franchise, consumer, real estate and operations expertise to support the development, oversight and execution of Darden’s operating and brand initiatives, including the turnaround of Olive Garden and the Brand Renaissance plan. Unlike Starboard’s nominees,…
Analysts at Wunderlich Securities Initiated coverage on Vera Bradley, Inc. (NASDAQ: VRA) with a Buy rating and price target of $27 on Wednesday.
Analysts stated, “we believe that Vera Bradley, with a new management team, aggressive growth strategy, and rapidly evolving shift in product and placement, is on track to once again regain its mantle as a lifestyle-driven growth story centered on distinctive handbag looks.”
Eric Beder outlined the logic behind the Buy rating:
Vera Bradley is a leading distributor of handbags and accessories, operating 89 full price and 20 outlet stores in the United States.
New management team brings innovative ideas and different business strategy to the company. CEO Robert Wallstrom delivers extensive retail experience and has assembled a team of consumer leaders.
Analysts expect fiscal year 2016 to bring major change. Management plans to shift product mix and the way employees interact with customers. Beder stated, “the recent expansion into leather handbag offerings and more fashion-driven items should drive even higher sales and returns for the company.”
In a report published Wednesday, Morgan Stanley analyst John Glass reiterated an Equal-Weight rating on Sonic Corporation (NASDAQ: SONC), and named a $22.00 price target.
In the report, Morgan Stanley noted, “Sales have stabilized in recent quarters, though still not robust given roughly flat traffic on increase advertising and product innovation. New menu board (POPS) and digital platform should support LSD comps New POS system and supply chain revamp in FY14 should yield 100-200 bps opportunity for store margins over time or 5-10c to LT EPS model. Reversion back to ascending royalty model in FY15 and beyond adds ~8-9c to EPS. Share buybacks add 7-9% to EPS.”
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 firstname.lastname@example.org 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.
Thanks to the money printing mania of the world’s central bankers, the Wall Street casino has gone global. Accordingly, mindless speculation and momentum chasing have reached new absurdities, as exemplified by the red hot roster of international high flyers below.
The financial data for the top name on the list, Twitter, is all that is required to remind us that once again markets are trading in the nosebleed section of history, rivaling even the madness of March 2000. Currently, Twitter (TWTR) is valued at $31 billion.That’s 18X revenue, but the catch is that the revenue in question is it’s lifetime...
Administradora de Fondos de Pensiones Provida S.A. (PVD) shares will not be trading on the NY Stock Exchange after today. Tomorrow, shares will be harder to sell. Strangely, I wasn't able to find information on the internet, but Paul just sent me a copy of the email he received from Interactive Brokers.
We're selling PVD out of the Virtual Portfolio today at $87.18.
From: Interactive Brokers dated July 18, 2014
Holders of AFP Provida S.A. American Depository Receipts (ADR) are advised that the Company has elected to terminate the Deposit Agreement effective 2014-09-18.
Ever wonder why for the US, it is all about reflating the stock market bubble in order to boost the "wealth effect", if only for a small portion of the population?
Or, for that matter, why in China where the Shanghai Composite has gone absolutely nowhere since the Lehman crash (and certainly isn't up some 200% unlike the liquidity-supercharged S&P 500), it is all about preserving the sanctity of the housing bubble?
Then the following chart should make it all clear.
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One of Fiedler's Forecasting Rules states:
"Always be precise in your forecasts: Economists state their GDP growth projections to the nearest tenth of a percentage point to prove they have a sense of humor."
The Federal Reserve has certainly proved both points; they have been very precise in their forecasts and have consistently overstated economic strength as shown. For example, in January of 2011, the Fed was predicting GDP growth for 2013 at 4.0%. Actual real GDP (inflation adjusted) was just 2.19% for the year only missing estimates by roughly 50%. The estimate, in 2011, for long run economic growth, was 2.7%, which has now fallen to just 2.2%.
Unfortunately, 2014 is not shaping up very well ...
Although the stock market displayed weakness last week as I suggested it would, bulls aren’t going down easily. In fact, they’re going down swinging, absorbing most of the blows delivered by hesitant bears. Despite holding up admirably when weakness was both expected and warranted, and although I still see higher highs ahead, I am still not convinced that we have seen the ultimate lows for this pullback. A number of signs point to more weakness ahead.
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 SectorCast rankings of the ten U.S. business sectors, and then offer up some actionable trading ideas, including a sector rotation strategy using ETFs and an enhanced version using top-r...
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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.
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The CBOE Vix Index is in positive territory on Friday morning as shares in the S&P 500 Index move slightly lower. Currently the VIX is up roughly 2.75% on the session at 13.16 as of 11:35 am ET. Earlier in the session big prints in October expiry call options caught our attention as one large options market participants appears to have purchased roughly 106,000 of the Oct 22.0 strike calls for a premium of around $0.45 each. The VIX has not topped 22.0 since the end of 2012, but it would not take such a dramatic move in the spot index in order to lift premium on the contracts. The far out-of-the-money calls would likely increase in value in the event that S&P500 Index stocks slip in the near term. The VIX traded up to a 52-week high of 21.48 back in February. Next week’s release of the FOMC meeting minutes f...
Despite the various opinions on Bitcoin, there is no question as to its ultimate value: its ability to bypass government restrictions, including economic embargoes and capital controls, to transmit quasi-anonymous money to anyone anywhere.
Opinions differ as to what constitutes "money."
The English word "money" derives from the Latin word "moneta," which means to "mint." Historically, "money" was minted in the form of precious metals, most notably gold and silver. Minted metal was considered "money" because it possessed luster, was scarce, and had perceive...
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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