Archive for March, 2008
Filed under: Analyst reports, Analyst upgrades and downgrades, Microsoft (MSFT), Yahoo! (YHOO), CIGNA Corp (CI), D.R.Horton (DHI), Electronic Arts (ERTS)
.gif) MOST NOTEWORTHY: Yahoo!, Cigna and Aegean Marine were today’s noteworthy upgrades:
- Citigroup upgraded shares of Yahoo! (NASDAQ: YHOO) to Buy from Hold as they believe Microsoft (NASDAQ: MSFT) is unlikely to walk away from Yahoo! and that there is potential Microsoft could bid $34/share.
- Credit Suisse upgraded Cigna (NYSE: CI) to Outperform from Neutral citing the company’s favorable business mix.
- Stephens upgraded shares of Aegean Marine (NYSE: ANW) to Overweight from Equal Weight on valuation as they see an attractive entry point at current levels.
OTHER UPGRADES:
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Filed under: Consumer experience, Competitive strategy, General Motors (GM), Marketing and advertising, Toyota Motor Corp. (TM)
 With people in Japan showing less and less interest for cars, Japanese automaker Toyota Motor Corp. (NYSE: TM) is exploring more efficient methods to increase sales in its strong competition with rival General Motors Corp. (NYSE: GM) for the title of the world’s largest automaker. The attempt to boost sales has become even more difficult as, according Toyota officials, young people prefer spending their money on laptops or mobile phones than a car that could be easily replaced by public transportation.
In an attempt to reach younger people and lift car sales, Toyota is opening a new mall located in Yokohama, southwest of Tokyo. The new Tressa mall is pretty much like any other malls, with 220 stores and restaurants like cafes, clothing stores and even gym or games centers where people enjoy spending their time. However, in the new mall space, Toyota showrooms take center stage, placing at people’s disposal a large variety of old and new cars models.
One thing that Toyota is aware of, and trying to improve upon, is that in Japan showrooms and TV advertising are not efficient any more in attracting people’s interest for buying cars. The new mall is aimed at accomplishing Toyota’s plan of global domination by providing “opportunities for people to come in contact with cars.”
Continue reading Toyota (TM) looking for new ways to lure in customers
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Filed under: Bad news, Consumer experience, Economic data
U.S. consumer confidence is at its lowest level since the Nixon Administration of the 1970s, according to one measure. U.S. consumer confidence fell in March 2008 to 64.5 — a 35-year low — the Conference Board announced Tuesday.
Economists surveyed by Bloomberg News had expected the index to drop to 73.0 in March 2008. The February 2008 index was revised to 76.4.
The board said that consumers’ evaluation of present-day conditions weakened significantly. Those claiming business conditions are “bad” increased to 25.4% from 21.3%, while those claiming business conditions are “good” declined to 15.4% from 19.1%. Consumers’ assessment of the job market was considerably more pessimistic than last month. Those saying jobs are “hard to get” rose to 25.1% from 23.4%, while those claiming jobs are “plentiful” decreased to 18.8% from 21.5%.
Continue reading March consumer confidence index plunges to a 35-year low
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Filed under: Newsletters, Merrill Lynch (MER), Lehman Br Holdings (LEH), Stocks to Buy
Expert trader and options specialist Bernie Schaeffer has taken contrarian positions in two investment banks in his “master trading” portfolio. Here’s the latest form his Schaeffer’s Investment Research.
“I have initiated a long position in Merrill Lynch (NYSE: MER). The brokerage stock hit a pivot low on March 17, 2008 due to the Bear Stearns news. This 52-week low was established with above average
volume. Since making this pivot low, MER has rallied 32%.
“This stock’s 10-day put/call ratio on the International Securities Exchange has hit capitulation levels. This reading is at 100%, which means the puts purchased versus calls purchased on its exchange is at the highest reading over the past year.
“In addition, I initiated a long position in Lehman Brothers Holdings (NYSE: LEH). Like MER, LEH made a pivot low recently due to the Bear Stearns news. Since making 52-week lows at $35.67, the brokerage company has rallied 32%.
“A significant amount of skepticism encompasses LEH shares. The Schaeffer’s put/call open interest ratio is 2.5, higher than 91% of the daily readings during the past year.”
Each day, Steven Halpern’s TheStockAdvisors.com offers the latest market commentary and favorite investment ideas from the nation’s leading financial newsletter advisors.
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Filed under: Bad news, Consumer experience, Economic data
U.S. consumer confidence is at its lowest level since the Nixon Administration of the 1970s, according to one measure. U.S. consumer confidence fell in March 2008 to 64.5 — a 35-year low — the Conference Board announced Tuesday.
Economists surveyed by Bloomberg News had expected the index to drop to 73.0 in March 2008. The February 2008 index was revised to 76.4.
The board said that consumers’ evaluation of present-day conditions weakened significantly. Those claiming business conditions are “bad” increased to 25.4% from 21.3%, while those claiming business conditions are “good” declined to 15.4% from 19.1%. Consumers’ assessment of the job market was considerably more pessimistic than last month. Those saying jobs are “hard to get” rose to 25.1% from 23.4%, while those claiming jobs are “plentiful” decreased to 18.8% from 21.5%.
Continue reading March consumer confidence index plunges to a 35-year low
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Filed under: Products and services, Viacom (VIA), Electronic Arts (ERTS), Activision Inc (ATVI)
If I had a dime for every time a person asked me “Is Rock Band ever coming out for the Nintendo (OTC: NTDOY) Wii?” I’d have more money than Electronic Arts (NASDAQ: ERTS) and Viacom (NYSE: VIA) combined. Seriously. Now, though, Wii fans can see the light at the end of the tunnel because Rock Band debuts on the popular platform on June 22 of this year. I don’t think any gamer on the planet expected the title to not come out for the Wii.
Not only is this great news for Wii users, but it’s also excellent information for shareholders of EA and Viacom. As Richard Driver pointed out, the game is a valuable asset for Viacom. EA benefits because Rock Band is the publisher’s answer to Activision (NASDAQ: ATVI)’s Guitar Hero franchise. In fact, Nintendo really stands to benefit this summer from both Guitar Hero and Rock Band because a version of the former will be coming out for the Nintendo DS handheld. There’s definitely going to be a rock rumble happening when the dog days are upon us, although I’d expect that Rock Band for the Wii will have a much bigger impact. That doesn’t seem too hard to predict considering that music games of these types work better on consoles, in my opinion.
This is going to be one hell of a test for Activision, EA, Viacom and the Wii. Will users adopt Rock Band in droves? Will the Guitar Hero franchise be threatened? In theory, the Wii is a console for casual gamers who just like to play some tennis or a few of the extremely fun midway diversions that can be found in the awesome title Carnival Games – will they go for something more expensive and more involved? My prediction — Rock Band will be a hit, but it won’t sell a ton of units until the holiday shopping season is upon us. Can’t wait to see what happens come June. Till then, rock on, my friends!
Disclosure: I own shares of Activision; positions can change at any time.
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Filed under: Analyst reports, Analyst upgrades and downgrades, Bank of America (BAC), Tiffany and Co (TIF), Gap Inc (GPS), Bear Stearns Cos (BSC)
MOST NOTEWORTHY: Credit Suisse, Bank of America and Bear Stearns were today’s noteworthy downgrades:
- UBS downgraded Credit Suisse (NYSE: CS) to Neutral from Buy to reflect the company’s higher-than-expected write-downs in Q1.
- Merrill cut Bank of America (NYSE: BAC) to Sell from Neutral and lowered their estimates to reflect a higher credit loss outlook as they now estimate Bank of America’s loan provision will rise to $15B in 2008 from $8.4B in 2007.
- Sandler O’Neil downgraded Bear Stearns (NYSE: BSC) to Sell from Hold citing share premium to deal value of $10.00.
OTHER DOWNGRADES:
- Citigroup lowered Gap (NYSE: GPS) to Hold from Buy.
- Tiffany & Co (NYSE: TIF) was downgraded to Perform from Outperform at Oppenheimer.
- JP Morgan downgraded Philips Electronics (NYSE: PHG) to Neutral from Overweight.
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Filed under: Bad news, Consumer experience, Economic data
U.S. consumer confidence is at its lowest level since the Nixon Administration of the 1970s, according to one measure. U.S. consumer confidence fell in March 2008 to 64.5 — a 35-year low — the Conference Board announced Tuesday.
Economists surveyed by Bloomberg News had expected the index to drop to 73.0 in March 2008. The February 2008 index was revised to 76.4.
The board said that consumers’ evaluation of present-day conditions weakened significantly. Those claiming business conditions are “bad” increased to 25.4% from 21.3%, while those claiming business conditions are “good” declined to 15.4% from 19.1%. Consumers’ assessment of the job market was considerably more pessimistic than last month. Those saying jobs are “hard to get” rose to 25.1% from 23.4%, while those claiming jobs are “plentiful” decreased to 18.8% from 21.5%.
Continue reading March consumer confidence index plunges to a 35-year low
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Filed under: eBay (EBAY), Starbucks (SBUX), AT and T (T), Sprint Nextel Corp (S), Comcast Cl’A’ (CMCSA), KB HOME (KBH), Toll Brothers (TOL), Broadcom Corp’A’ (BRCM), Technical Analysis, Stocks to Buy
 No matter how hard I promote my core strategy of short selling surging microcaps, the sheer volume of emails asking me about when slumping blue chips like Starbucks Corporation (NASDAQ: SBUX), Sprint Nextel Corporation (NYSE: S) and Nvidia Corporation (NASDAQ: NVDA) will bottom is astounding.
So, this is my answer to you guys. I’m also going to throw in Broadcom Corporation (NASDAQ: BRCM), AT&T Inc. (NYSE: T) and Ebay Inc. (NASDAQ: EBAY) because they all share the same horrifically downtrending charts!
I’ve already written about how you should avoid these kinds of stocks, but I know many of you are already down too much to even contemplate getting out now. Luckily for you, there now looks to be a glimmer of hope.
Continue reading A lesson in how stocks bottom
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Filed under: Analyst reports, Analyst upgrades and downgrades, Bank of America (BAC), Tiffany and Co (TIF), Gap Inc (GPS), Bear Stearns Cos (BSC)
MOST NOTEWORTHY: Credit Suisse, Bank of America and Bear Stearns were today’s noteworthy downgrades:
- UBS downgraded Credit Suisse (NYSE: CS) to Neutral from Buy to reflect the company’s higher-than-expected write-downs in Q1.
- Merrill cut Bank of America (NYSE: BAC) to Sell from Neutral and lowered their estimates to reflect a higher credit loss outlook as they now estimate Bank of America’s loan provision will rise to $15B in 2008 from $8.4B in 2007.
- Sandler O’Neil downgraded Bear Stearns (NYSE: BSC) to Sell from Hold citing share premium to deal value of $10.00.
OTHER DOWNGRADES:
- Citigroup lowered Gap (NYSE: GPS) to Hold from Buy.
- Tiffany & Co (NYSE: TIF) was downgraded to Perform from Outperform at Oppenheimer.
- JP Morgan downgraded Philips Electronics (NYSE: PHG) to Neutral from Overweight.
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