After U.S. markets closed on Thursday, Affirm Holdings reported a narrower-than-expected loss per share and revenue that was 9% above the consensus estimate. Revenue rose by 22% year over year. Affirm also issued upside revenue guidance for the current quarter. Shares traded up more than 26% shortly after Friday’s opening bell.

Gap reported earnings per share (EPS) well above the consensus estimate but missed on revenue. Year over year, revenue was down by 8%, with same-store sales down 6%. The company also issued downside revenue guidance for the current quarter. Shares traded up 3.3%.

Marvell Technology beat estimates on both the top and bottom lines, but revenue fell by 11.6% year over year. Guidance was in line with consensus estimates. More was expected, especially given Nvidia’s glowing report on Wednesday. The stock traded down 7.3% early Friday.

Nordstrom also beat top-line and bottom-line estimates, but revenue was down nearly 8% year over year. The company was able to clear out inventory, costing the department store 8.5% in gross merchandise value. Nordstrom reaffirmed EPS guidance for the 2024 fiscal year but sees revenue down 4% to 6% year over year. The stock traded down 5.7% early Friday.
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No notable earnings reports are being released on Friday. Before markets open on Monday, Nordic American Tankers will post its quarterly earnings.

Here is a look at what analysts expect when these three companies report quarterly results Tuesday morning.

Best Buy

Over the past 12 months, shares of technology retailer Best Buy Co. Inc. (NYSE: BBY) have slipped by about 5.8%. They reached a 52-week high in early February but have retreated about 21.5% since then. Sales have been more or less stagnant since the third quarter of 2019, when the total was $9.76 billion. In the first quarter of this year, sales totaled $9.47 billion. As long as the dividend is not endangered, though, investors will likely be willing to hold on to the stock.

Analysts cannot give up that dividend either. Of 30 brokerages covering Best Buy, 22 rate the shares at Hold and six have a Buy or Strong Buy rating. At a recent price of around $73.00 a share, the upside potential based on a median price target of $75.00 is 2.7%. Based on a high price target of $110.00, the upside potential is 50.7%.

For the company’s fiscal 2024 second-quarter revenue, analysts anticipate $9.52 billion, which would be up 0.,5% sequentially but down 7.8% year over year. Adjusted EPS are forecast at $1.07, down 6.6% sequentially and by 30.5% year over year. For the full fiscal year ending in January, current estimates call for EPS of $6.10, down 13.9%, on sales of $44.29 billion, down 4.3%.

The stock trades 12.0 times expected 2024 EPS, 10.7 times estimated 2025 earnings of $6.85 and 9.5 times estimated 2026 earnings of $7.66 per share. Its 52-week trading range is $60.78 to $93.32. Best Buy pays an annual dividend of $3.68 (yield of 4.93%). Total shareholder return for the past year was negative 1.28%.
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Big Lots

Discount retailer Big Lots Inc. (NYSE: BIG) has seen a share price decline of more than 73% over the past 12 months, including a 58.5% drop so far in 2023. The 52-week high was posted nearly a full year ago and shares have been sliding ever since.
Sales peaked in the April quarter of 2021 and have been on a downward trend since, closing the first quarter of this year more than 35% lower. Bloomberg reported earlier this month that the company had retained AlixPartners to help reverse Big Lots course. Investors will want to hear more about what the company plans to do.

Analyst sentiment tends toward the downside. Of 10 brokerages covering the stock, five have a Strong Sell rating and four have Hold ratings. At a share price of around $6.00, the stock trades right at its median price target. At the high target of $13.00, the upside potential is about 117%.

Fiscal 2024 second-quarter revenue is forecast at $1.1 billion, down 2% sequentially and by 18.5% year over year. Analysts expect an adjusted loss per share of $4.12, worse than the prior quarter’s loss of $3.40 per share and worse than the year-ago quarter’s loss of $2.28 per share. For the full fiscal year ending in January, the consensus estimates call for an adjusted loss of $9.88 per share compared to last year’s loss per share of $5.96 on sales of $4.84 billion, down 11.4%.

Big Lots is not expected to post a profit in 2024 or 2025. The enterprise value to sales multiple is 0.5 in each of those years. The 52-week trading range is $4.78 to $24.35. Big Lots pays an annual dividend of $1.20 (yield of 19.67%, and that’s not a typo), and the total shareholder return for the past year was negative 71.80%.
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Nio

China-based EV maker Nio Inc. (NYSE: NIO) has lost nearly 44% from its share price over the past 12 months. The stock price has increased by more than 9% so far in 2023, including a 50% bounce between mid-July and early August based on improving EV sales in China. Since that peak, the stock has given back all but about 3% of the increase.

The Tesla-spawned price war in China has been especially hard on Nio, and the struggling Chinese economy is not providing any support for EV makers or buyers. Analysts have dramatically reduced their revenue expectations for Nio’s second quarter, and that will give the company a decent chance to slip over a low bar. What that will mean depends on Nio beating estimates by a big margin. That probably will not happen.

There are 27 analyst ratings on Nio’s stock, and 18 are Buy or Strong Buy. At a share price of around $10.60, the upside potential based on a median price target of $14.26 is around 34.5%. At the high target of $20.79, the upside potential is 96.2%.
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For the second quarter of fiscal 2023, the consensus estimates call for revenue of $1.26 billion, down 19.2% sequentially and 18.2% lower year over year. Nio is forecast to post an adjusted loss per share of $0.41, worse than the $0.37 loss in the prior quarter and worse than the year-ago loss of $0.20 per share. For the full year, the company is expected to report a per-share loss of $1.25, worse than the $1.06 loss in 2022, on sales of $8.82 billion, up 23.5%.

Analysts do not expect Nio to produce a profit in 2023, 2024 or 20425. The enterprise value to sales multiple is expected to be 2.1 in 2023. Based on average estimated sales of $13.37 billion and $17.4 billion for 2023 and 2024, respectively, the multiple is 1.4 for 2024 and 1.1 for 2025. The 52-week trading range is $7.00 to $22.74. The company does not pay a dividend, and the total shareholder return for the past year is negative 43.61%.

The post Earnings Previews: Best Buy, Big Lots, Nio appeared first on 24/7 Wall St..

The futures were lower as we get set to start the new trading week. The major indexes ended mixed on Friday after the nonfarm payrolls for November once again surprised to the upside. All eyes on Wall Street are now laser-focused on the final Federal Reserve meeting of 2022, which will take place on December 13 and 14, with a rate decision coming at 2 p.m. Eastern Time on December 14.

It is widely expected that, for the first time since back in the spring, the rate hike will be lowered to 50 basis points, which once again could spark a huge bear market rally like we saw last Wednesday.

After plunging last week in a massive safe-haven buying spree, rates across the Treasury curve were lower again on Friday. The biggest buying Friday was the benchmark 30-year bond, which closed at a 3.56% yield. The inversion between the two-year and 10-year note stayed in place, with the former closing at 4.33% and the 10-year at 3.57%. The inversion is a harbinger of recession.

Brent and West Texas Intermediate closed lower Friday after a solid week for both. Natural gas ended lower, down over 7% despite power prices shooting higher in Europe as wind speeds have stalled and cold weather sets in. Gold closed lower after a strong week that saw the precious metal trade back over the $1,800 level. Bitcoin reversed in the afternoon Friday to close slightly higher.
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24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding fresh ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.

These are the top analyst upgrades, downgrades and initiations seen on Monday, December 5, 2022.

Ambarella Inc. (NASDAQ: AMBA): Cowen reiterated an Outperform rating while trimming its $100 price target to $90. The consensus target is $101.10. The stock closed Friday at $76.38, which was up over 3% on the day.

AvalonBay Communities Inc. (NYSE: AVB): Morgan Stanley downgraded the REIT giant to Equal Weight from Overweight and slashed the $225 target price to $187. The consensus target is $200.36. The stock closed on Friday at $172.57.

Big Lots Inc. (NYSE: BIG): Goldman Sachs lowered its $20 price target on the Sell-rated shares to $16. The consensus target is $16.25. The stock closed on Friday at $18.19.
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Broadcom Inc. (NASDAQ: AVGO): Oppenheimer reiterated an Outperform rating with a $720 target price. The consensus target is lower at $644.80. Friday’s close was at $540.80.

Cboe Global Markets Inc. (CBOE): Zacks has selected this stock as its Bull of the Day. The analyst suggests a VIX above 20 during the bear market keeps options hedging and market data in high demand. Shares last closed at $128.33, and the $142.15 consensus price target would be a 52-week high.
Cheesecake Factory Inc. (NASDAQ: CAKE): Wedbush downgraded the stock to Neutral from Outperform and trimmed its $27 target price to $35. The consensus target is $34.88. Friday’s close was at $33.24, down over 4% on the day, likely on the downgrade.

Dollar General Corp. (NYSE: DG): Telsey Advisory reiterated an Outperform rating while lowering its price target to $270 from $285. That compares with the $269.39 consensus target and Friday’s closing print of $243.96, which was up over 3% for the day.

DoorDash Inc. (NASDAQ: DASH): RBC Capital Markets downgraded the shares to Sector Perform from Outperform. It also dropped its $70 target price to $60, well below the $75.30 consensus target. The shares closed on Friday at $55.19, down over 3% after the downgrade.

Ecolab Inc. (NYSE: ECL): Barclays downgraded the stock to Equal Weight from Overweight and reduced its $170 target price to $160. The consensus target is $159.55. The stock closed on Friday at $151.36.

FIGS Inc. (NYSE: FIGS): Oppenheimer maintained an Outperform rating and has a $12 target price. The consensus target is $8.68. The stock closed over 8% higher on Friday at $8.53.

G-III Apparel Group Ltd. (NASDAQ: GIII): Telsey Advisory reiterated a Market Perform and lowered the target price to $22 from $14. The consensus target is $23.29. Friday’s close was at $12.79.

Hain Celestial Group Inc. (NASDAQ: HAIN): Evercore ISI downgraded the stock to In line from Outperform and lowered its $30 target price to $24. The consensus target is $23.39. The stock was last seen on Friday trading at $18.92.

IAC Inc. (NASDAQ: IAC): UBS initiated coverage with a Sell rating and a $46 target price. The consensus target is much higher at $84.75. The shares closed on Friday at $52.92.

KBR Inc. (NYSE: KBR): BofA Securities resumed coverage with a Buy rating and a $65 target price. The consensus target is $63.44. The stock was last seen on Friday trading at $53.38, up 3% on the day.
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Lennar Corp. (NYSE: LEN): Citigroup resumed coverage with a Buy rating and a $103 target price. The consensus target is $96.71, and Friday’s closing print was $88.30.

Lumentum Holdings Inc. (NASDAQ: LITE): Stifel initiated coverage with a Buy rating and a $68 target price. The consensus target is up at $78.00. The last trade on Friday was reported at $55.00.

Marvell Technology Inc. (NASDAQ: MRVL): Cowen reiterated an Outperform rating but cut its $70 target price to $55. The consensus target is $70.32. Friday’s last trade was reported at $44.72.

National Storage Affiliates Trust (NYSE: NSA): Baird lowered its Outperform rating to Neutral and cut its $62 target price to $45. The consensus target is $50.59. Friday’s close was at $39.18.
PayPal Holdings Inc. (NASDAQ: PYPL): Jefferies maintained a Neutral rating and has a $90 target price. The consensus target is up at $106.57. The stock closed on Friday at $74.66, down close to 5% for the day on no news we could source.

Permian Resources Corp. (NYSE: PR): Truist Securities raised its target price to $15 from $14 and reiterated a Buy rating. The consensus target is $11.96. The stock closed on Friday at $9.95.

PVH Corp. (NYSE: PVH): Goldman Sachs raised its target price on the Neutral-rated shares to $67 from $50. The consensus target is $72.83. The stock closed on Friday at $72.93.

S&P Global Inc. (NYSE: SPGI): Oppenheimer reiterated an Outperform rating and has a $390 target price. The consensus target is $390.41. The last trade on Friday was reported at $359.80.

UDR Inc. (NYSE: UDR): Morgan Stanley upgraded the stock to Overweight from Equal Weight while trimming its $49 target price to $47. The consensus target is $46.71. The shares closed on Friday at $41.00.

Ulta Beauty Inc. (NASDAQ: ULTA): Telsey Advisory reiterated an Outperform rating and raised its target price to $575 from $510. That compares with a $490.63 consensus and Friday’s last trade of $471.33.

Veeva Systems Inc. (NYSE: VEEV): Needham reiterated a Buy rating and boosted its $205 target price to $220. The consensus target is $213.54. The stock closed on Friday at $174.90, down almost 9% on the day despite beating earnings handily.
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Vipshop Holdings Ltd. (NYSE: VIPS): Citing falling estimates due to the global slowdown, Zacks named this Chinese e-commerce firm as its Bear of the Day. The stock hit a 52-week high of $12.13 on Friday and is up about 26% in the past six months. The consensus price target is $12.35.

Zillow Group Inc. (NYSE: ZG): UBS started coverage with a Buy rating and a $50 target price. The consensus target is just $36.24. The last trade on Friday was for $38.19 a share.

Zscaler Inc. (NASDAQ: ZS): Jefferies reiterated a Hold rating with a $140 target price. The consensus target is up at $203.19. Friday’s $128.99 close down almost 11% for the day despite posting results that beat expectations, but the forward outlook disappointed.
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A recent Goldman Sachs research report suggests buying 2022 laggards could be the way for some big 2023 gains. Five top technology stocks have huge upside potential and look like outstanding ideas now.

Friday’s top analyst upgrades and downgrades included ADT, Costco Wholesale, CrowdStrike, Gilead Sciences, Liberty Global, Otis Worldwide, PagSeguro Digital, Palo Alto Networks, Salesforce, Sunrun, Synchrony Financial and Zscaler.

The post Monday’s Top Analyst Upgrades and Downgrades: Broadcom, Dollar General, DoorDash, Lennar, PayPal, Permian Resources and More appeared first on 24/7 Wall St..

The futures were higher on the last trading day of August, after another risk-off day Tuesday in which all the major indexes closed down. Some serious damage may have occurred technically, with the S&P 500 closing below the 50-day moving average. The song remains the same, as rising interest rate increases, pushback from the Federal Reserve leaders on any policy pivot, the ramp-up in quantitative tightening (QT) (which will increase to $95 billion per month in September) and a worsening overall economic picture all contributed to renewed selling. Unless the inflation picture drastically improves, investors can count on a 75-basis-point increase late next month.

Yields were flat across the Treasury curve Tuesday, as attention turned to the two-year note, which traded near 3.50% before closing at a 3.46%, the highest since 2007. The inversion remains in place with the 10-year note closing at 3.11%. This inversion is often a harbinger of recession.

Brent and West Texas Intermediate crude gave up Monday’s big gains and more, as both closed down well over 4%. Economic slowdown fears once again seem to be the major reason for the selling. With two months left in the hurricane season, any big activity in the Gulf could see prices rise fast. Natural gas closed lower as well, despite Gazprom slashing deliveries to a French utility giant. Gold ended slightly lower, while Bitcoin was down almost 2% to close below $20,000 again.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding fresh ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.
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These are the top analyst upgrades, downgrades and initiations seen on Wednesday, August 31, 2022.

Big Lots Inc. (NYSE: BIG): Goldman Sachs reiterated a Sell rating on the shares and has a $20 target price. The consensus target is $21.43. The last trade for Tuesday came in at $24.08, which was up close to 12% on the day despite missing on earnings estimates.

Bowlero Corp. (NYSE: BOWL): J.P. Morgan started coverage with an Overweight rating and a $17 target price. The consensus target for the stock is $15.25. The shares closed up almost 5% on Tuesday at $11.66 on the upgrade.
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Catalent Inc. (NASDAQ: CTLT): Baird reiterated an Outperform rating on the stock while lowering the $142 price objective to $123. The consensus target is $129.38. Tuesday’s close at $89.28 was down over 3% for the day.
D-Wave Quantum Inc. (NYSE: QBTS): Roth Capital started coverage with a Buy rating and a $20 target price. The consensus target is $13.50. The stock closed on Tuesday at $7.05, down close to 10% for the day on now reported news we could find.

Enhabit Inc. (NASDAQ: EHAB): Jefferies started coverage with a Buy rating and a $20 target price. The consensus target is $17.50. The initiation boosted the stock on Tuesday, which closed over 6% higher on the day at $15.98.

European Wax Center Inc. (NASDAQ: EWCZ): Piper Sandler initiated coverage with a Neutral rating and a $22 target price. The consensus target is higher at $32.86, and the stock closed at $20.62 on Tuesday.

Everbridge Inc. (NASDAQ: EVBG): Truist Financial maintained a Hold rating, but the firm lifted its target price to $31 from $38. The consensus target is $37. The last trade for Tuesday was reported at $41.00 a share.

FiscalNote Holdings Inc. (NYSE: NOTE): BTIG Research started coverage with a Buy rating and a $14 target. The posted consensus target is $11.75. The stock closed on Tuesday at $7.46, which was a sharp 24% decline on no reported negative news.

FREYR Battery (NYSE: FREY): Goldman Sachs reiterated a Buy on the shares and has a $19 target price. The consensus target is $17.75. Tuesday’s $13.73 close was up over 8% for the day. The stock was up big last week after the company announced a new partnership agreement.

Hewlett Packard Enterprise Co. (NYSE HPE): Goldman Sachs maintained a Sell rating on the legacy technology giant. Its $12 target price compares with a $17.17 consensus figure. The shares were last seen on Tuesday trading at $13.65 apiece.

L3 Harris Technologies Inc. (NYSE: LHX): RBC Capital Markets started coverage of the aerospace and defense giant with an Outperform rating and a $285 target. Shares have traded as high as $279.71 in the past year and closed on Tuesday at $231.24.
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Leidos Holdings Inc. (NYSE: LDOS): RBC Capital Markets initiated coverage with a Sector Perform rating and a $106 target price. The consensus target is higher at $117, and the stock was last seen on Tuesday trading at $95.81.

MakeMyTrip Ltd. (NASDAQ: MMYT): BofA Securities raised the stock to Buy from Neutral and lifted $33 the target price to $40. The consensus target is $37.00, and the stock was last seen Tuesday at $33.39 per share.

Meta Platforms Inc. (NASDAQ: META): Citing an outlook that has turned a lot worse, Zacks has selected this as its Bear of the Day. Shares have traded as high as $384.33 in the past year but last closed at $157.16, which is down more than 53% year to date.

Napco Security Technologies Inc. (NASDAQ: NSSC): Needham reiterated a Buy rating on the shares and increased the $30 target price to $33. The consensus target is $30.70, and Tuesday’s $29.61 close was up 4% after solid fiscal fourth-quarter results were posted.
Nasdaq Inc. (NASDAQ: NDAQ): Oppenheimer maintained an Outperform rating and has an adjusted $65 target price after the recent three-for-one stock split. The consensus target is $66.28. The last trade for Tuesday was reported at $59.60.

Pinduoduo Inc. (NYSE: PDD): BofA Securities reiterated a Buy rating, and it raised its $77 target price to $89. The consensus target is $78.89. The shares closed on Tuesday at $66.50. The company posted a strong 36% revenue rise for the most recent quarter on Monday.

Sony Group Corp. (NYSE: SONY): Oppenheimer reiterated an Outperform rating and has a $125 target price. The consensus target for the Japanese conglomerate is $136.93, and the stock closed Tuesday’s session at $80.74.

TransUnion Inc. (NYSE: TRU): BofA Securities maintained a Neutral rating and bumped the $89 price target up to $90. The consensus target is $92.50, and the last trade to hit the tape on Tuesday was at $75.70 per share.
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Ulta Beauty Inc. (NASDAQ: ULTA): Zacks named this products and services provider as the Bull of the Day stock. The analyst makes the case that shoppers continue to spend big on the simple pleasures in life such as beauty. Shares last closed at $416.79, and the consensus price target of $482.83 would be an all-time high.

Vulcan Materials Co. (NYSE: VMC): Stifel maintained a Buy rating with a $220 target price. That compares with the analysts’ consensus target of $203.52, as well as Tuesday’s closing print of $166.77.

Whitestone REIT (NYSE: WSR): Truist Financial started coverage with a Hold rating and a $10 target price. The consensus target was last seen at $13.10, and the stock closed at $9.87 a share on Tuesday.
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Five top dividend-paying companies make up the bulk of Berkshire Hathaway’s total holdings. Given Warren Buffet’s proclivity for only owning the stock of companies that he understands well, these five make sense now for nervous growth and income investors.

See which three defense stocks could be top performers. Also see which are America’s highest-paying companies.

Tuesday’s top analyst upgrades and downgrades included Antero Resources, Applied Materials, CrowdStrike, Frontier Group, General Dynamics, Lululemon Athletica, Peloton Interactive, Pinduoduo, S&P Global and Unity Software. Analyst calls seen later in the day were on Cabaletta Bio, Gap, Lockheed Martin, Northrop Grumman, Spire Global and more.

The post Wednesday’s Top Analyst Upgrades and Downgrades: Big Lots, Hewlett Packard Enterprise, Meta Platforms, Nasdaq, Pinduoduo, TransUnion, Ulta Beauty and More appeared first on 24/7 Wall St..

The futures traded lower Tuesday after a rousing risk-on day to start the week turned into yet another so-so session. Friday’s big sell-off was the worst day for the markets since May 18th. All the major indexes closed modestly higher, but by the end of the trading day all had given up their big gains from the morning.

Strategists cited the improving situation in China as a major force behind the initial strength Monday, but the reality is that the Federal Reserve tightening will proceed unabated with 50-basis-point increases set for this month and July, and the distinct possibility for another 50-basis-point increase in September if there are signs that the rampant inflation, which remains at 40-year highs, has not dissipated.

The big selling Monday was seen in the Treasury markets, as yields moved higher across the curve. The five-year and 10-year notes, and the benchmark 30-year bond were all up well over the 3% mark. The big data point this week will be the consumer price index numbers for May that will come out on Friday. The consensus estimate calls for a reading of 8.3%, flat with April’s print.

Fortunately, oil closed flat, after marching higher last week, as Libya’s biggest oilfield resumed production, while natural gas resumed its parabolic move higher, closing up over 9%. Gold closed down, while Bitcoin soared almost 5% higher, closing near $31,000.
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These are the top analyst upgrades, downgrades and initiations seen on Tuesday, June 7, 2022.

Autodesk Inc. (NASDAQ: ADSK): Goldman Sachs lowered its $210 price target on the shares to $185 while keeping a Sell rating. The consensus target is $257.88. Monday’s closing share price was $208.60.

Best Buy Co. Inc. (NYSE: BBY): Goldman Sachs cut the $96 price target on the retail giant to $82 while keeping a Sell rating. The consensus target is $94.71. Monday’s last trade came in at $79.27.
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Big Lots Inc. (NYSE: BIG): Goldman Sachs lowered its $36 price target to $25 and kept a Sell rating on the stock. The consensus target is $28, and Monday’s final trade hit the tape at $23.81.

Cedar Fair L.P. (NYSE: FUN): Zacks selected this as its Bull of the Day stock, pointing out that revenue is at record levels through Memorial Day. Shares last closed at $47.95, and the consensus price target of $70.50 would be a 52-week high.

Cigna Corp. (NYSE: CI): Oppenheimer reiterated an Outperform rating on the health care heavyweight and has a $310 price target objective. The lower $291.17 consensus is closer to Monday’s closing print of $258.32.
Dun & Bradstreet Holdings Inc. (NYSE: DNB): RBC Capital Markets downgraded the stock to Sector Perform from Outperform but nudged the $16 price target up to $18. The consensus target is $20.09.

Exxon Mobil Corp. (NYSE: XOM) Evercore ISI raised its In Line rating on the energy giant to Outperform, and its $88 target price rose to $120. The consensus target is $96.93. Monday’s last trade was reported at $98.44.

Futu Holdings Ltd. (NASDAQ: FUTU): CLSA downgraded the shares from Underperform to Sell with a $27 target price. The consensus target is an insane $166.61. The stock closed Monday at $43.70, which was up almost 19% for the day. The company posted incredible results, with a 68% increase in paying clients.

GoodRx Holdings Inc. (NASDAQ: GDRX): BofA Securities resumed coverage with a Buy rating and an $11 target. The consensus price target is up at $12.24. The shares closed on Monday at $7.54.

GXO Logistics Inc. (NYSE: GXO): Barclays resumed coverage with an Equal Weight rating and a $60 target price. The $89.92 consensus target is much higher, and Monday’s closing print was $55.29.

Horizon Pharmaceuticals PLC (NASDAQ: HZNP): SVB Leerink resumed coverage with a Market Perform rating, and it has a $95 target price. The consensus target is up at $137.46. The shares were last seen Monday at $87.22, down almost 5% on the day.
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Lululemon Athletica Inc. (NASDAQ: LULU): Bernstein raised its Underperform rating to Market Perform after the company once again posted outstanding quarterly results. The firm has a very low $300 target, while the consensus target is $424.15. Monday’s closing share price was $301.62.

Merck & Co. Inc. (NYSE: MRK): SVB Leerink resumed coverage of the pharmaceutical giant with an Outperform rating and a $102 target price. The consensus target is $97.04. The final trade on Monday was at $89.84 a share.

Monster Beverage Corp. (NASDAQ: MNST): Morgan Stanley reiterated an Overweight rating and pushed the $111 price target up to $117. The consensus target is $100.79. The shares were last seen on Monday trading at $91.36.

MP Materials Corp. (NYSE: MP): Northland Capital resumed coverage with an Outperform rating and a $60 price objective. That compares with a much lower $48,59 consensus target and Monday’s closing print of $40.10, which was up close to 4% for the day.
Neurocrine Biosciences Inc. (NASDAQ: NBIX): Jefferies resumed coverage with a Buy rating but lowered the $126 price target to $112. The consensus target is in line at $112.48. The stock was last seen on Monday at $94.16.

Nike Inc. (NYSE: NKE): Stifel lowered the $160 price target for the athletic shoe and apparel giant to $150 while keeping a Buy rating. The consensus target is $162.55. The last trade on Monday was filled at $120.23.

Relay Therapeutics Inc. (NASDAQ: RLAY): Jefferies started coverage with an Underperform rating and a $13 target. The consensus target is a stunning $43.86 for now. The stock was hammered Monday, closing down over 13% on no negative news that we could source except the downgrade.

Selecta Biosciences Inc. (NASDAQ: SELB): SVB Leerink started coverage with an Outperform rating and a $7 target price. The consensus target is up at $7.83. The stock closed Monday at $1.00, which was up over 13% on no news.

Visa Inc. (NYSE: V): Oppenheimer maintained an Outperform rating for the credit card giant, and the stock remains a top pick. The $262 target price is a bit lower than the $268.05 consensus target. The closed on Monday was at $212.94.

Walmart Inc. (NYSE: WMT): Baird maintained an Outperform rating on the retail colossus and has a $155 price objective. The consensus target is $156.74. The last trade on Monday was reported at $124.87.

Winnebago Industries Inc. (NYSE: WGO): Pondering whether the golden age of RVs and boats is over, Zacks selected this stock as the Bear of the Day. Shares have traded as high as $80.30 in the past year but closed most recently at $49.96, which is down more than 33% year to date.
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Eight Jefferies defensive picks with solid targeted capital allocation plans and the highest yields are dominant in their respective sectors and should continue to report solid earnings through 2022 and beyond.

J.P. Morgan has three stock picks with up to nearly 80% upside potential.
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Monday’s early top analyst upgrades and downgrades included Bristol-Myers Squibb, Cheniere Energy, Chewy, Costco Wholesale, CrowdStrike, Exact Sciences, Lululemon Athletica, New York Community Bancorp, Okta, Physicians Realty Trust, Spotify Technology and Welltower. Analyst calls seen later in the day were on American Express, Aurora Cannabis, Edison International, Eli Lilly, PayPal, Upwork and more.

The post Tuesday’s Top Analyst Upgrades and Downgrades: Best Buy, Exxon, Merck, Monster Beverage, Nike, Visa, Walmart and More appeared first on 24/7 Wall St..

The three major U.S. equity indexes closed mixed on Tuesday. The Dow Jones industrial blue-chippers added about 0.2%, while the S&P 500 closed down 0.8% and the Nasdaq retreated nearly 2.4%. The Federal Reserve releases the minutes of its April meeting Wednesday afternoon, an event that is watched closely for hints about what the U.S. central bank may do next. Equities traded slightly lower in Wednesday’s premarket session.
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After markets closed Tuesday afternoon, Intuit reported results, beating estimates for both the top and bottom lines. Shares traded up about 2.8% in the premarket.

Nordstrom missed earnings per share (EPS) expectations but beat the revenue estimate and issued upside guidance for the 2023 fiscal year. The stock was up more than 9% Wednesday morning.
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Toll Brothers also beat top-line and bottom-line estimates but noted that, while demand is solid for now, it is not equal to the runup of the past two years because home buyers are reacting to higher interest rates and macroeconomic conditions. The stock traded up 3.6%.

Grindrod Shipping reported better than expected results on both the top and bottom lines. Shares traded down about 4.5% in Wednesday’s premarket session.

Star Bulk Carriers also reported beats to earnings and revenue estimates. Shares traded higher by about 3.4% Wednesday morning.

Dick’s Sporting Goods beat top-line and bottom-line estimates but gave downside guidance well below analysts’ estimates for full-year EPS. Shares traded down more than 12% in Wednesday’s premarket.

After Wednesday’s closing bell, results are due from Nvidia, Snowflake and Splunk. Thursday morning has earnings on tap from Alibaba, Baidu, Dollar Tree and Macy’s.
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Here is a look at five firms set to report earnings late Thursday or early Friday.

Big Lots

Discount retailer Big Lots Inc. (NYSE: BIG) has had a share price decline of 58% over the past 12 months. The stock’s 52-week high was posted in early June and shares have been sliding ever since. Rising inflation and a challenging macroeconomic environment have made the past year a dismal one for investors. In March, an activist investor called for the company to do a sale-and-leaseback deal and take fuller advantage of its borrowing power. Big Lots reports results before markets open on Friday.
Analyst sentiment is mixed on Big Lots, with five of 10 brokerages having a Hold rating while just one rates the stock at Buy. At a recent share price of around $26.20, the stock’s upside potential based on a median price target of $33.00 is 25.8%. At the high target of $47.00, the upside potential is 79.4%.
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Fiscal 2023 first-quarter revenue is forecast at $1.46 billion, which would be down 15.8% sequentially and 10.4% lower year over year. Analysts are forecasting adjusted EPS of $1.00 for the quarter, down 42.9% sequentially and 61.8% year over year. For the full fiscal year ending in January, the consensus estimates call for EPS of $4.52, down 16.9%, on sales of $6.12 billion, down 0.5%.

The company’s stock trades at 5.8 times expected 2023 EPS, 4.9 times estimated 2024 earnings of $5.32 and 4.6 times estimated 2025 earnings of $5.76 per share. The stock’s 52-week trading range is $24.87 to $73.23. Big Lots pays an annual dividend of $1.20 (yield of 4.57%), and the total shareholder return for the past year was negative 57.5%.
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Canopy Growth

Marijuana grower and cannabis products maker Canopy Growth Corp. (NASDAQ: CGC) has seen its share price drop by more than 79% over the past 12 months. The company’s market cap has decreased from about $3.2 billion three months ago to $2.02 billion as of Tuesday night’s close. The cannabis industry has been waiting for more action from the U.S. Congress to decriminalize cannabis-based products, but it has not happened yet. Until it does, all Canopy Growth and its peers can do is try to hold on. The company reports results before markets open on Friday.

Analysts continue to take a moderately negative view on the stock. Of 21 brokerages covering the shares, 10 have a Hold rating and nine have a Sell or Strong Sell rating. Only two have a Buy rating. At a share price of around $4.75 and a median price target of $6.92, the upside potential is 45.7%. At the high price target of $19.74, the upside potential is more than 315%.

Analysts estimate that Canopy Growth’s fourth-quarter revenue for fiscal 2022 will come in at $109.87 million, down 8.8% sequentially but up 35.1% year over year. The consensus estimate calls for an adjusted loss per share of $0.16, slightly worse than an adjusted loss of $0.13 in the prior quarter but better than the year-ago loss of $1.28 per share. For the full fiscal year ended in March, analysts expect a loss of $0.07 per share, significantly better than last year’s loss of $2.51 per share. Full-year revenue is forecast at $424.54 million, down about 12.1%.

Canopy Growth is not expected to post a profit in 2022, 2023 or 2024. The company’s sales to enterprise value multiple for 2022 is 5.0, 4.5 for 2023 and 3.9 for 2024. The stock’s 52-week range is $4.70 to $26.96, and the low was posted Tuesday. Canopy Growth does not pay a dividend, and the total shareholder return for the past year is negative 79%.

Shares of Costco Wholesale Corp. (NASDAQ: COST) have added about 15.7% over the past 12 months, including a drop of nearly 28% since early April. Judging by the stock’s sharp fall over the past week or so, investors expect Costco to follow the down staircase along with Walmart and Target.
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Costco’s profit has always been a function of its membership model and the revenue the company derives from those paying customers. Will consumers continue to pay for the privilege of saving money by buying Costco’s bulk packages of light bulbs and oatmeal? We shall find out when the company reports quarterly results after Thursday’s close.

Analysts are positive on the stock, with 23 of 34 having a Buy or Strong Buy rating. Another 10 rate the stock at Hold. At a share price of around $437.70, the upside based on a median price target of $587.00 is 34.1%. At the high price target of $678.00, the upside potential is 54.9%.

Third-quarter revenue is forecast at $51.45 billion, down about 0.9% sequentially and up 16.5% year over year. Adjusted EPS are forecast at $3.02, up 3.6% sequentially and 9.8% year over year. For the full 2022 fiscal year ending in August, current estimates call for EPS of $13.08, up 18.1%, on sales of $222.97 billion, up 13.8%.

Costco stock trades at 33.5 times expected 2022 EPS, 30.6 times estimated 2023 earnings of $14.30 and 27.7 times estimated 2024 earnings of $15.81 per share. The stock’s 52-week range is $375.50 to $612.27. The company pays an annual dividend of $3.16 (yield of 0.72%). Total shareholder return for the past year was about 14.9%.
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Farfetch

London-based Farfetch Ltd. (NYSE: FTCH) operates an e-commerce marketplace for luxury fashion goods in the United States, the United Kingdom and elsewhere. Unusually, the company’s focus on luxury products does not seem to be helping it out during this period of high inflation and consumer caution. The stock’s value has dropped by 83% over the past 12 months.

When the company reports quarterly results after markets close Thursday, investors will be looking for signs that it can replace its Russian business, which accounted for about 6% of its volume, and get its European market back in a buying mode.

Analysts are quite bullish on the stock, with 15 of 20 having a Buy or Strong Buy rating. The other five rate the stock at Hold. At a share price of around $6.80, the upside based on a median price target of $28.00 is about 312%. At the high price target of $56.00, the upside potential is 768%. Some adjustments may be due.
Farfetch’s revenue for the first quarter of fiscal 2023 is forecast at $561.86 million, down about 15.6% sequentially and up 15.8% year over year. Analysts are expecting an adjusted loss per share of $0.21, far worse than the prior quarter’s loss of $0.03, and a penny better than the loss in the year-ago quarter. For the full fiscal year, current estimates call for an adjusted loss per share of $0.64, compared to last year’s loss of $0.55 per share, on sales of $2.76 billion, up 22.2%.
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Farfetch is not expected to post a profit in 2023 or 2024. The stock trades at a multiple of 19.5 times expected 2025 earnings of $0.35 per share. The stock’s 52-week range is $6.53 to $53.77, and the low was posted Tuesday. The company does not pay a dividend, and the total shareholder return for the past year was negative 83.5%.
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Gap

Apparel retailer Gap Inc. (NYSE: GPS) has seen its share price plummet by about 70% over the past 12 months. Since reaching a peak in mid-May last year, the stock has been on a steady downward path. Some analysts believe the company’s stock has reached a bottom and that a turnaround is due. But inflation, rising costs and supply chain issues militate against that. Investors and analysts will be paying close attention to what executives have to say on the conference call. Gap reports results after markets close Thursday.

Analysts continue to be cautious on the stock, with 14 of 22 having a Hold rating and just four others rating the stock at Buy. At a share price of around $9.50, the implied upside based on a median price target of $14.00 is 47.4%. At the high target of $28.00, the implied gain is almost 195%.
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First-quarter fiscal 2023 revenue is forecast to come in at $3.49 billion, down 22.9% sequentially and 12.5% lower year over year. Analysts are forecasting an adjusted loss per share of $0.13, compared to a prior quarter loss of $0.02 per share and EPS of $0.48 in the year-ago quarter. For the full fiscal year that ends next January, analysts currently expect EPS of $1.41, down 2.2%, on sales of $16.25 billion, down 2.5%.

Gap stock trades at 6.7 times expected 2023 EPS, 5.5 times estimated 2024 earnings of $1.73 and 5.0 times estimated 2025 earnings of $1.90 per share. The stock’s 52-week range is $9.24 to $35.35, and the low was posted Tuesday. Gap pays an annual dividend of $0.60 (yield of 5.8%), and the total shareholder return for the past year was negative 70.4%. How long can that dividend yield last?

The post Earnings Previews: Big Lots, Canopy Growth, Costco, Farfetch, Gap appeared first on 24/7 Wall St..

U.S. markets suffered a bloodbath on Monday. The S&P 500 index fell below 4,000 to finish at its lowest point in a year, the Nasdaq Composite plunged by 4.3% and the Dow Jones industrials lost 2.0%.

Looking at the overall market since the beginning of the year, only one sector (energy) has posted positive performance. Energy stocks as a group have added nearly 37% to their share price so far this year. Only two other sectors are even close to breaking even for the year to date: consumer staples and utilities.

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It is probably no surprise that the tobacco giants are the defensive stocks offering the largest dividend payments while also being highly liquid. There are a few stocks that offer double-digit dividends but trade relatively few shares a day. The heavily traded tobacco stocks will always be in demand for their solid payout ratios and their liquidity.

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The tobacco stock with the combined features of a high daily trading volume and a high dividend is Altria Group Inc. (NYSE: MO). The stock trades an average of 9.4 million shares a day, and its annual dividend of $3.60 yields 6.51%. For the first quarter of the year, Altria beat the consensus earnings estimate while missing on revenue. Revenue was down 1.2% year over year, but tobacco companies have tremendous pricing power because consumers are almost fiercely loyal and generally willing to pay up. Altria’s free cash flow per share is $4.55 for the past 12 months and its payout ratio is 215.6%.

Continuing with the so-called sin stocks, beer brewing giant Ambev S.A. (NYSE: ABEV), with brands including Budweiser, Modelo and Corona, pays a dividend yield of 4.11% ($0.11 annually) and trades an average of more than 25 million shares daily. The company operates in four divisions: Brazil, Central America and the Caribbean, Latin America South, and Canada. Free cash flow per share for the past 12 months is $0.18 and Ambev’s payout ratio is 73.5%.

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Discount stores typically do well during hard economic times, and this time is unlikely to be different. Big Lots Inc. (NYSE: BIG) pays the best dividend in this industry, $1.20 annually, yielding 3.5%. While not as liquid as Walmart or Target, its daily trading volume of around 1.3 million shares offers some cover when the markets turn around again. Free cash flow per share is $1.16, and the company’s payout ratio is 23.4%. Shares traded up 10.5% on Monday.

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Because people always have to eat, the packaged food industry may be a good bet for a solid defensive play. B&G Foods Inc. (NYSE: BGS) pays a dividend yield of 7.55% ($1.90 annually) and trades about 1.2 million shares a day. The company’s payout ratio is 194.8%, but free cash flow per share is only $0.79. Kraft Heinz Co. (NYSE: KHC) pays an annual dividend of $1.60 (yield of 3.62%) while trading more than 7.5 million shares a day. Free cash flow per share is $3.39, and the company’s payout ratio is 160%.

Both of these are likely defensive plays, but B&G reported first-quarter results last week in which earnings per share that were more than 28% lower sequentially and revenue that was more than 9% lower than in the prior quarter. Kraft Heinz reported earnings up nearly 14% sequentially and a sequential revenue increase of more than 5% in its most recent quarter.

The post 5 Top Defensive Stocks to Help Ride Out the Market Downturn appeared first on 24/7 Wall St..

The futures were lower Tuesday, after a strong Nasdaq rally on Monday that was led by Twitter and other social media names after Elon Musk disclosed an almost 10% position in the company. Those positives aside, the same concerns continue to weigh on the market, with the ongoing fighting between Russia and Ukraine, massive COVID-19 lockdowns in Shanghai, the rising hawkish tone from the Federal Reserve, the inversion between the two-year and 10-year Treasuries and rising inflation.

Yields across the Treasury curve were higher, with the aforementioned two-year closing at a 2.42% yield, while the 10-year closed at a 2.41% yield. Though yield inversions typically signal a recession is on the way, most across Wall Street feel that it could be 2023 before it actually happens. Both oil and gold closed higher on Monday.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding fresh ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.

These are the top analyst upgrades, downgrades and initiations seen on Tuesday, April 5, 2022.
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Analog Devices Inc. (NASDAQ: ADI): Goldman Sachs lowered its $207 price target on the Buy-rated shares to $183. The consensus target is $204. Monday’s final trade was reported at $164.50 a share.

Baxter International (NYSE: BAX): Goldman Sachs lowered its Neutral rating to Sell and has a $77 target price. The consensus target is up at $96.76. The stock closed Monday at $75.47, down almost 4% for the day.

Big Lots Inc. (NYSE: BIG): This discount store operator was selected as the Bear of the Day at Zacks, with the analyst pointing out that big sales do not always translate to big earnings. The stock has traded as high as $73.23 in the past year but closed most recently at $35.84, which is down more than 20% year to date.

BorgWarner Inc. (NYSE: BWA): Goldman Sachs sliced the $47 target price on the Neutral-rated shares to $42. The consensus target is $50.59. The closing share price on Monday was $38.79.
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Caesars Entertainment Inc. (NASDAQ: CZR): Stifel raised the price target on the Buy-rated casino giant to $127 from $120, citing the recent pullback in the shares that is providing investors with a solid entry level. The consensus target is $117.64. Monday’s closing trade was reported at $80.69, up over 5% for the day.

CarMax Inc. (NYSE: KMX): Baird dropped its $170 price target to $140 while keeping an Outperform rating. The consensus target is $143.08. Monday’s close was at $101.37.
Chevron Corp. (NYSE: CVX): Black gold is making a killing for investors, says Zacks, which named this oil giant as the Bull of the Day stock. Shares last closed at $164.37, and the lagging consensus price target was $164.59 on last look.

Conn’s Inc. (NASDAQ: CONN): Oppenheimer reiterated a Perform rating on the electronics and furnishings retailer. The consensus target of $23 is within the 52-week trading range of $14.63 to $31.48. The stock closed over 3% higher on Monday at $15.59.

Domino’s Pizza Inc. (NYSE: DPZ): Cowen downgraded shares of the popular pizza chain to Market Perform from Outperform and lowered the $480 price target to $390. The consensus target is $472.86. The stock ended trading on Monday at $403.79.

Envista Holdings Corp. (NASDAQ: NVST): Baird reiterated an Outperform rating with a $54 target price after a positive analyst day. Stifel maintained a Buy rating and has a $55 target. The consensus target is in line at $54.33, and the stock ended Monday’s session at $47.62.

Hertz Global Holdings Inc. (NASDAQ: HTZ): Oppenheimer maintained an Outperform rating on the rental car giant and has a $31 target price. The consensus target is $29.29. The stock was last seen on Monday at $23.38, after popping almost 11% on the day.

IGM Biosciences Inc. (NASDAQ: IGMS): Baird lowered its price target to $46 from $65 while maintaining an Outperform rating. The consensus target is $54.89. The shares closed on Monday at $22.92.

Kirby Corp. (NYSE: KEX): Stifel raised the $71 price target on the Buy-rated stock to $80. The lower $72.25 consensus target compares with Monday’s closing print of $69.68.

Leslie’s Inc. (NASDAQ: LESL): Goldman Sachs raised its Neutral rating on the pool supply giant to Buy with a $27 price target. The consensus target is $29.33. The shares closed Monday at $20.79, up over 3% on the day.
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Li Auto Inc. (NASDAQ: LI) HSBC Securities started coverage with a Buy rating and a $35 target price. The consensus target is posted at $40.23. The shares closed Monday at $28.66, up over 5% for the day.

Modular Medical Inc. (NASDAQ: MODD): Oppenheimer started coverage with an Outperform rating and an $8 target price. The consensus target is also $8. Monday’s final trade came in at $4.51, up over 6% on the day.

nCino Inc. (NASDAQ: NCNO): Baird reiterated a Neutral rating and lowered the $60 target price to $55. The consensus target is $58.22. The stock closed on Monday at $46.82. Last week, the company posted very solid fourth-quarter results.

New Fortress Energy Inc. (NASDAQ: NFE): Stifel reiterated a Buy rating with an $85 target price. The consensus target is just $51.89. The shares were last seen on Monday at $48.29, which was up close to 8% for the day. The company announced it is building an offshore liquefied natural gas plant by next year.
Ollie’s Bargain Outlet Holdings Inc. (NASDAQ: OLLI): Wells Fargo’s upgrade to Overweight from Equal Weight included a price target hike to $65 from $45. The consensus target is $52.14. The stock closed on Monday at $49.56, up almost 16% after incredibly bullish analyst commentary.

Quest Diagnostics Inc. (NYSE: DGX): Citigroup cut its Buy rating to Neutral and slashed the $175 target price to $140. The consensus target is $153.14. The final trade for Monday came in at $134.54.

Sarepta Therapeutics Inc. (NASDAQ: SRPT): Cantor Fitzgerald resumed coverage with an Overweight rating and a $140 target price. The consensus target is $119.89. The last trade for Monday was filled at $85.62, which up close to 4% for the day.

Starbucks Corp. (NASDAQ: SBUX): Wedbush downgraded the ubiquitous coffee retailer to Neutral from Outperform and lowered the $105 target price to $91. The consensus target is $113.55. The final trade on Monday was reported at $88.09, down almost 4% on the day.

Tesla Inc. (NASDAQ: TSLA): Goldman Sachs maintained a Buy rating on the electric vehicle colossus after the company revealed that vehicle deliveries were up 68% year over year. The analyst has a $1,200 price target, well above the $952.24 consensus target. Monday’s closing print of $1145.45 was up close to 6% for the day.

Twitter Inc. (NYSE: TWTR): MKM Partners downgraded the shares from Buy to Neutral with a $49 target price. The consensus target is $44.05. The shares closed Monday at $49.97, up a stunning 27% on the news Elon Musk has acquired a big position in the company.

Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) The analysts at Oppenheimer maintained an Outperform rating on the shares while raising the target price to $350 target price. The $273.38 consensus is closer to Monday’s closed at $268.64.
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History shows that placing bets on sector laggards has paid off handsomely for investors, according to a new research report. Eight diverse underperforming stocks also come with healthy and dependable dividends and are Buy rated.

Monday’s early top analyst upgrades and downgrades included Advanced Micro Devices, Avantor, Biogen, Centennial Resource Development, CommScope, Dollar General, Doximity, LuluLemon Athletica, Nio, PayPal, SunPower, Synchrony Financial, Walgreens Boots Alliance and Zscaler. Analyst calls seen later in the day were on Blend Labs, Crocs, Gold Fields, Hologic, Leslie’s, Ollie’s Bargain Outlet, Quest Diagnostics, Welltower and more.

The post Tuesday’s Top Analyst Upgrades and Downgrades: Analog Devices, Caesars, Chevron, Hertz, Li Auto, Starbucks, Tesla, Twitter and More appeared first on 24/7 Wall St..

The futures traded lower on Wednesday, after a solid bounce-back risk-on rally Tuesday that came on the heels of a Monday sell-off that was ignited after some bearish and hawkish comments from Federal Reserve Chair Powell regarding the potential for bigger interest rate hikes in the federal funds rate.

Goldman Sachs weighed in late Monday with the idea that the next two rate hikes in May and June could both be 50 basis points instead of the expected 25 basis points. Crude oil prices dropped some after a big jump Monday, which likely contributed to the positive tone Tuesday.

All the major indexes and the transports closed higher, but the sellers returned to Treasury securities as the five-year and 10-year notes and the 30-year bond all closed with yields at 52-week highs. Gold, which has traded down almost 7% since early March, once again closed down for the day.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding fresh ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.
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These are the top analyst upgrades, downgrades and initiations seen across Wall Street on Wednesday, March 23, 2022.

AES Corp. (NYSE: AES): Citigroup started coverage on the stock with a Buy rating and a $27 price objective. The consensus target is $28.67. The stock closed trading on Tuesday at $23.72.

American Express Co. (NYSE: AXP): Oppenheimer reiterated an Outperform rating and a $200 price target. The consensus target for the financial services heavyweight is $199.83. The shares closed on Tuesday at $200.

Aris Water Solutions Inc. (NYSE: ARIS): Stifel raised its $18 price target to $22 while keeping a Buy rating. The consensus target is $19.45, and the stock closed at $18.45 on Tuesday.

Baker Hughes Co. (NASDAQ: BKR): Goldman Sachs removed the stock from the Conviction List but maintained a Buy rating with a $41 price target. The consensus target is $34.45. The shares closed on Tuesday at $36.54.
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Big Lots Inc. (NYSE: BIG): This discount store operator was selected as the Bear of the Day at Zacks, with the analyst pointing out that earnings are moving in the wrong direction for long-term investors. The stock has traded as high as $73.23 in the past year but closed most recently at $38.70, which is down about 14% year to date.
BorgWarner Inc. (NYSE: BWA): Goldman Sachs lowered the $47 price target on the Neutral-rated shares to $42. The consensus target is $52.06. The last trade Tuesday was reported at $38.45.

Coupang Inc. (NYSE: CPNG): Deutsche Bank upgraded the stock to Buy from Hold. The 52-week trading range is a wide $15.27 to $50.50, and the consensus price objective is $29.90. The last trade for Tuesday hit the tape at $19.70, which was up close to 5% for the day.

CyrusOne Inc. (NASDAQ: CONE): Citigroup resumed coverage with a Neutral rating and a $90.50 price objective, while the consensus target is $89.53. The stock closed on Tuesday at $90.28.

Darden Restaurants Inc. (NYSE: DRI): Baird reiterated an Outperform rating on the shares of the restaurant giant, and the firm has a $160 target price. The consensus target is $163.02. The final trade for Tuesday was reported at $132.

Duke Energy Corp. (NYSE: DUK): Citigroup started coverage on the utility giant with a Buy rating and a $120 price target. The consensus target is $108.62. The closing share price on Tuesday was $106.19.

FMC Corp. (NYSE: FMC): BofA Securities downgraded the stock to Underperform from Buy and has a $128 target. The consensus price objective is $131. The last trade on Tuesday was reported at $130.53. As shares are trading just below the 52-week high, this looks like a valuation call.
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HireRight Holdings Corp. (NYSE: HRT): Baird maintained an Outperform rating but trimmed the $26 target price to $23. The consensus target is $24.71. The stock closed Tuesday at $15.54, up a stunning 24% after posting very strong results.

Nike Inc. (NYSE: NKE): Baird reiterated an Outperform rating on the athletic shoe and apparel giant, but the firm lowered the $192 target price to $165. Stifel kept a Buy rating and has a $160 target price. The consensus target is $168.24, and the stock closed on Tuesday at $133.09.

Okta Inc. (NASDAQ: OKTA): The Truist Securities downgrade was to Hold from Buy. The shares have traded in a 52-week range of $143.30 to $287.44, and they have a $243.11 consensus target. The stock closed down just under 2% on Tuesday after reporting a possible digital breach of its data.

Plains All-American Pipeline L.P. (NASDAQ: PAA): Goldman Sachs trimmed the price target to $15 from $17 while keeping a Buy rating. The consensus target is $13.64. The stock closed on Tuesday at $10.71.
Public Service Enterprise Group Inc. (NYSE: PEG): Citigroup started coverage with a Neutral rating and a $69 target price. The consensus target is higher at $72.38. The shares were last seen on Tuesday at $67.10.

Ryanair Holdings PLC (NASDAQ: RYAAY): Bernstein raised the top European carrier from Market Perform to Outperform with a $107 target price. The consensus target is $127.20. The last trade on Tuesday was for $86.86 a share.

Schlumberger Ltd. (NYSE: SLB): Goldman Sachs added the oil services giant to the firm’s Conviction List and kept a Buy rating on the stock with a $51 price target. The stock hit a 52-week high of $46.27 earlier this month and closed most recently at $41.21 a share.

Target Hospitality Corp. (NASDAQ: TH): Travelers have been on the move again and looking for places to stay, says Zacks, which named this specialty rental and hospitality services provider as the Bull of the Day stock. The shares last closed at $5.48, and the consensus target price is $6.67, which would be a 52-week high.

Visteon Corp. (NASDAQ: VC): Goldman Sachs cut its $156 target price to $138 while keeping a Buy rating. The consensus target is $130.29. The final trade on Tuesday hit the tape at $107.86.

Wallbox N.V. (NYSE: WBX): Stifel reiterated a Buy rating on the stock and has a $29 target price, after the company posted solid fourth-quarter revenue. The consensus target is lower at $25.33. Tuesday’s closing share price was $13.73.
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Moving capital to hard assets now makes a ton of sense, especially for growth and income inventors who are underweighted on real estate, one of the best assets out there. Five top real estate investment trusts offer shareholders a generous payout each month rather than quarterly.

See what lit a fire under Chinese tech stocks on Tuesday.
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Tuesday’s early top analyst upgrades and downgrades included Accenture, Altria, American Airlines, APA, Bumble, Chevron, Datadog, General Motors, Mastercard, Pinduoduo, Regeneron Pharmaceuticals, Tesla, Toast and TotalEnergies. Analyst calls seen later in the day were on Canopy Growth, ContextLogic, Cronos, Ecolab, Keurig Dr Pepper, LyondellBasell Industries, Procter & Gamble, Phillip Morris International, Sherwin-Williams and more.

The post Wednesday’s Top Analyst Upgrades and Downgrades: American Express, Baker Hughes, BorgWarner, Coupang, CyrusOne, Duke Energy, Nike, Schlumberger and More appeared first on 24/7 Wall St..

Markets tumbled to start out the week, as sanctions against Russia are beginning to pile up and energy prices are on the rise. Also over the weekend, some NATO members announced that certain Russian banks from the SWIFT system, which ultimately facilitates trillions of dollars worth of transactions globally. The Dow Jones industrials were leading the charge lower among the major averages, down over 1%.

24/7 Wall St. is reviewing some big analyst calls seen on Monday. We have included the latest call on each stock, as well as a recent trading history and the consensus targets among analysts. Note that analyst calls seen earlier in the day were on AbbVie, Alibaba, Block, Coinbase, Home Depot, Nvidia and many more.

American Electric Power Co. Inc. (NASDAQ: AEP): Wells Fargo upgraded the stock to an Overweight rating from Equal Weight and raised the price target to $101 from $93. The 52-week trading range is $74.96 to $91.66, and shares were trading near $59 apiece on Monday.

Autohome Inc. (NYSE: ATHM): Benchmark upgraded it to Buy from Hold and has a $44 price target. Shares were trading near $31 on Monday. The 52-week range is $25.00 to $119.96.

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Big Lots Inc. (NYSE: BIG): Telsey Advisory reiterated a Market Perform rating and cut the price target to $50 from $53. Shares were trading near $35 on Monday. The 52-week range is $31.57 to $73.23.

Bloom Energy Corp. (NYSE: BE): Susquehanna’s upgrade to Positive from Neutral included a price target hike to $33 from $18. Shares were trading near $22 on Monday. The 52-week range is $12.55 to $37.01.

BP PLC (NYSE: BP): Cowen reiterated a Market Perform rating and cut the price target to $30 from $31. Shares were trading near $29 on Monday. The 52-week range is $22.64 to $34.16.

Deciphera Pharmaceuticals Inc. (NASDAQ: DCPH): Barclays lowered its Equal Weight rating to Underweight and cut the $11 price target to $6. The 52-week trading range is $7.13 to $48.27, and shares were trading near $7.50 apiece Monday.

Dollar Tree Inc. (NASDAQ: DLTR): BMO Capital Markets upgraded the shares to Outperform from Market Perform and raised the price target to $170 from $155. Shares were trading near $142. The 52-week range is $84.26 to $149.37.

Gilead Sciences Inc. (NASDAQ: GILD): BMO Capital Markets downgraded it to Market Perform from Outperform and cut the price target from $75 to $65. The stock was trading near $59 on Monday, and the 52-week range is $59.52 to $74.12.

Jack in the Box Inc. (NASDAQ: JACK): Gordon Haskett’s downgrade was from Buy to Hold with a $96 price target. The stock was trading near $85 on Monday, and the 52-week range is $77.13 to $124.53.

LendingTree Inc. (NASDAQ: TREE): Oppenheimer reiterated an Outperform rating and cut the price target to $190 from $200. The 52-week trading range is $90.97 to $280.68, and shares were trading near $117 apiece Monday.

Lockheed Martin Corp. (NYSE: LMT): Wolfe Research upgraded it to Outperform from Peer Perform. The 52-week trading range is $324.23 to $429.56, and shares were last seen near $428.

PulteGroup Inc. (NYSE: PHM): The BofA Securities upgrade was to Buy from Underperform. Shares were trading near $49 on Monday. The 52-week range is $42.31 to $63.91.

Texas Roadhouse Inc. (NASDAQ: TXRH): Gordon Haskett upgraded the shares from Hold to Buy with a $110 price target. The 52-week trading range is $76.65 to $110.75, and shares were trading near $93 apiece on Monday.

Toll Brothers Inc. (NYSE: TOL): BofA Securities upgraded the stock to Buy from Underperform and raised the price target to $63 from $61. Shares were last seen trading near that new $54 target. The 52-week trading range is $47.17 to $75.61.

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Goldman Sachs continues to make the case for higher oil prices, and five top stock picks make sense for growth and income investors as they pay big and dependable dividends and distributions and look like they can continue to ride the increase in oil pricing.[wallst_email_signup]

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Wall Street analysts are constantly releasing and updating reports on stocks across their respective coverage universes. These calls, whether positive or negative, play into the overall perception of the stock and can easily influence investors, especially if the broker making the call is a big name like Goldman Sachs.

While these analysts may differ in terms of their approach or analytics, their bottom line tends to this: a stock is going up, going down or just keeping pace with the market.

Every day, 24/7 Wall St. reviews top analysts’ research from the major brokerage firms and investment houses, and we compile the best and most prominent upgrades and downgrades. It is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.

Here are a few stocks that we think Wall Street hated the most in this past week.

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Exelon Corp. (NASDAQ: EXC): Scotiabank downgraded the stock to Sector Perform from Outperform and cut the price target to $44 from $55. The 52-week trading range is $27.35 to $44.02, and shares have a consensus target of $50.78. The stock traded Friday morning at $42.50 a share.

Stanley Black & Decker Inc. (NYSE: SWK): Citigroup downgraded the shares to Sell from Buy and cut the price target to $145 from $215. The consensus target price is $211.44, and the stock traded on Friday at $165.50. This implies more than 12% downside from Citigroup’s target price.

Big Lots Inc. (NYSE: BIG): JPMorgan lowered its Neutral rating to Underweight and slashed the $54 target price to $31. The consensus target is $44.44, and the stock recently traded at $37.50. This implies more than 17% downside from JPMorgan’s target price.

Incyte Corp. (NASDAQ: INCY): SVB Leerink’s downgrade to Underperform from Market Perform included a price target cut from $60 to $56. The 52-week trading range is $61.91 to $88.26, and shares traded at $67.60 on Friday. This implies about 17% downside from the analyst’s target.

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The futures were up across the board Wednesday, after a strong risk-off Tuesday rally that saw all the major indexes and the battered Russell 2000 trade higher. One of the few casualties on the day was oil, with both West Texas Intermediate and Brent crude closing lower. Treasury yields increased across the board, as sellers weighed reports that Russian President Putin made comments that there could indeed be diplomatic solutions to the situation in Ukraine. That in turn knocked the flight-to-safety bid out from under the Treasury complex, and once again both the five-year and 10-year notes closed with yields hitting highs not seen since 2019.

Wall Street strategists remain focused on the Thursday release of the January consumer price index report, where expectations are focused on an increase of 7.3%, versus the 7.0% rise in December. Some in the major firms feel that inflation could be approaching its peak and could begin to trend lower in the second quarter.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding fresh ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.

These are the top analyst upgrades, downgrades and initiations seen on Wednesday, February 9, 2022.
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ACM Research Inc. (NASDAQ: ACMR): The Zacks Bull of the Day is a niche, under-the-radar small-cap semiconductor player with an ideal concentrated exposure to Asia. Shares last closed at $81.72 and have a consensus price target all the way up at $132.07.

Advanced Micro Devices Inc. (NASDAQ: AMD): Daiwa Securities raised shares of the semiconductor giant to Buy from Outperform and lifted the price target to $150 from $140. The analysts’ consensus price target is $152.81. The stock closed trading on Tuesday at $128.23, up close to 4% for the day.

Annaly Capital Management Inc. (NYSE: NLY): JMP Securities cut the stock to Market Perform from Market Outperform. It has traded in a 52-week range of $7.29 to $9.64 and has an $8.66 consensus target. The last trade for Tuesday was posted at $7.58.

AppFolio Inc. (NASDAQ: APPF): Stephens upgraded the stock from Underweight to Equal Weight and changed the $105 price target to $107. The last trade to hit the tape Tuesday came in at $120.78, which was a gain of close to 4% for the day.

Big Lots Inc. (NYSE: BIG): JPMorgan lowered its Neutral rating to Underweight and slashed the target price to $31 from $54. The consensus target is $47, and Tuesday’s final print of $39.45. The shares were down close to 5% in premarket action.

Black Knight Inc. (NYSE: BKI): The Jefferies downgrade to Hold from Buy included a price target cut to $71 from $100. The posted consensus target is $92.50. The last trade on Tuesday at $68.85, down almost 4% on the day.
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Cerence Inc. (NASDAQ: CRNC): Jefferies downgraded the shares to Hold from Buy and slashed the $115 target price to $40. Baird cut its Buy rating to Neutral, and its $110 price target dropped to $50. Wedbush downgraded the stock to Neutral from Outperform. The consensus target is $114.67 and is sure to be going lower. The stock closed higher at $45.79, up almost 5%, after crashing over 30% Monday, when another top executive joined others that left the firm.

Clorox Co. (NYSE: CLX): This was selected as the Bear of the Day at Zacks, with the analyst recommending that investors stay away until it can generate proven margin-improving results. The stock has traded as high as $196.67 in the past year but closed most recently at $143.22, which is down about 18% year to date.

CME Group Inc. (NASDAQ: CME): Atlantic Equities downgraded the shares to Neutral from Overweight and has a $250 target price. The consensus target is $240.25, but the stock closed Tuesday at $241.41 a share.

Coca-Cola European Partners PLC (NASDAQ: CCEP): ING started coverage with a Buy rating and a $71.05 target price. The consensus target is $70.33. The shares ended trading on Tuesday at $57.72.

Constellation Energy Corp. (NASDAQ: CEG): Seaport Research Partners started coverage with a Buy rating and a $50.50 price objective. The consensus target is up at $59.50 which would be a 52-week high. The shares closed on Tuesday at $45.50.

First Citizens BancShares Inc. (NASDAQ: FCNCA): Piper Sandler started coverage with an Overweight rating and a hefty $1,000 price target. The consensus target is even higher at $1,041.67. The stock closed Tuesday at $807.30.

Hain Celestial Group Inc. (NASDAQ: HAIN): The Consumer Edge Research upgrade was to Overweight from Equal Weight. The shares have traded in a 52-week range of $34.16 to $48.88 and have a consensus target of $49.64. The stock closed at $37.30 on Tuesday.
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IDEXX Laboratories Inc. (NASDAQ: IDXX): Atlantic Equities started coverage with an Overweight rating and a $650 target price. That compares with a higher $690.33 consensus price objective and Tuesday’s closing print of $521.61.

Immunocore Holdings PLC (NASDAQ: IMCR): H.C. Wainwright started coverage with a Buy rating and an $80 target price. The consensus target is just $48. The stock closed Tuesday at $23.53, which was down over 6% for the day.

Li Auto Inc. (NASDAQ: LI): Barclays started coverage with an Overweight rating and a $38 price objective. The consensus target is $43.56, and the stock was last seen on Tuesday trading at $29.00 per share.

Noble Corp. (NYSE: NE): Evercore ISI resumed coverage of the stock with an Outperform rating and a $45 target price. The much lower consensus target for the energy leader is $36, and Tuesday’s closing print was $25.36.
Penn National Gaming Inc. (NASDAQ: PENN) Susquehanna upgraded the stock to Positive from Neutral and boosted the price target to $65 from $34. The consensus target is $66.69. The last trade for Tuesday was reported at $48.11. The shares traded over 3% higher in the premarket.

Simpson Manufacturing Co. Inc. (NYSE: SSD): Sidoti upgraded the shares from Neutral to Buy with a $152 target price. The consensus target is just $135.75. The stock closed Tuesday at $120.84, up over 10% after posting strong earnings results.

Teladoc Health Inc. (NYSE: TDOC): Piper Sandler reiterated its Overweight rating but trimmed the target price to $108 from $118. The consensus target is $138.38. The shares were last seen well below both levels at $69.95, which was down over 6% on Tuesday.

Transocean Ltd. (NYSE: RIG): Evercore ISI resumed coverage of the deepwater driller with an Outperform rating and a $6 target price. The stock has traded as high as $5.13 in the past year, but the last trade on Tuesday was reported at $3.46, down close to 7% for the day.

Valaris Ltd. (NYSE: VAL): Evercore ISI resumed coverage with an Outperform rating and a $72 price target. That compares with a much lower $53.50 consensus target and Tuesday’s closing print of $40.32, which was down 3% on the day.

Zimmer Biomet Holdings Inc. (NYSE: ZBH): Canaccord Genuity downgraded the medical devices and products giant to Hold from Buy and cut the target price to $125 from $165. Stifel kept a Buy rating but lowered its $178 target price to $130, while Truist reiterated it at Buy but lowered the target price to $128 from $145. The consensus target is $156.32. The last trade on Tuesday was reported at $119.88, up over 7% for the day. The company missed fourth-quarter expectations on Monday.
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Oil prices are poised to go higher, perhaps much higher. Five top energy infrastructure companies offer reasonably safe and reliable distributions, and their stocks look like solid plays now and are Buy-rated at major Wall Street firms.

Tuesday’s early top analyst upgrades and downgrades included Apple, Continental Resources, Bilibili, Eaton, Hershey, Meta Platforms, Nio, NOV, PayPal and Southern Company. Analyst calls seen later in the day were on Airbnb, General Motors, Tyson Foods and more.
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The futures were mixed Thursday, after a huge risk-off Wednesday in which the Dow Jones industrials, the S&P 500 and the Nasdaq (which was down a stunning 3.35%) all closed lower. With the window for the Santa Claus rally closed, and fourth-quarter earnings still in the queue, it feels like investors and traders were busy hedging bets and taking profits as we began trading in the new year.

The Treasury bond market saw sellers again Wednesday, as yields crept higher across the curve. That could have been in part a response to the ADP private job growth numbers of 807,000, which doubled Wall Street expectations, and the Federal Reserve speeding up the quantitative easing taper and rate hike.

With much of the Federal Reserve’s forward-looking initiatives now baked in, including the rate lift-off and faster quantitative easing tapering in 2022, Wall Street is continuing to focus on the big increases in energy and food costs and other spiraling inflation issues. While top strategists and economists are divided on when the current inflation increase will ease, the ongoing supply chain concerns and stagflation worries remain front and center.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding fresh ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.
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These are the top analyst upgrades, downgrades and initiations seen on Thursday, January 6, 2022.

ADT Inc. (NYSE: ADT): Citigroup resumed coverage of the home security giant with a Buy rating and a $10.25 target price. The consensus target is $10.75. The last trade on Wednesday came in at $8.64 per share.

AdTheorent Holding Co. Inc. (NASDAQ: ADTH): Canaccord Genuity started coverage with a Buy rating and a $12 price target. The consensus target is higher at $18. The stock closed on Wednesday at $6.05 a share.

Beyond Meat Inc. (NASDAQ: BYND): BofA Securities resumed coverage of the plant-based food company with an Underperform rating. The analysts also cut the target price on the shares to $55 from $70. The consensus target is $74.21. The last trade on Wednesday was reported at $58.49 a share.
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Big Lots Inc. (NYSE: BIG): Zacks has selected this retailer as its Bear of the Day stock. The analyst recommends that investors look to sell into rallies until estimates turn around. Shares have traded as high as $73.23 in the past year but last closed at $47.74.

Crown Castle International Corp. (NYSE: CCI): JPMorgan downgraded the stock to Neutral from Overweight but kept a $200 target price. The consensus target is $200.59, and the stock closed on Wednesday at $188.46.

Delta Air Lines Inc. (NYSE: DAL): Jefferies reiterated a Buy rating on the stock and boosted the price target to $50 from $40. The consensus target for the carrier is higher at $51.84. The closing trade on Wednesday was at $40.28 per share.

Emerson Electric Co. (NYSE: EMR): RBC Capital Markets raised its Sector Perform rating to Outperform and hiked the $104 price target to $116. The consensus target is $109.78. The final trade on Wednesday was reported at $95.69.

Garmin Ltd. (NYSE: GRMN): Deutsche Bank upgraded the stock to Buy from Hold and lifted the price objective to $160 from $148. The shares have traded as high as $178.81 in the past year but closed most recently at $133.05.

Kimco Realty Corp. (NYSE: KIM): Argus upgraded the stock to Buy from Hold and has a $27 price target. The consensus target is $26.05, and the closing share price on Wednesday was $24.76.

Manchester United PLC (NYSE: MANU): Bulls are looking to take their shot at current prices, says Zacks, which named this as its Bull of the Day stock. Its shares most recently closed at $14.61 apiece, in a 52-week range of $13.75 to $20.86.
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Peloton Interactive Inc. (NASDAQ: PTON): JPMorgan reiterated an Outperform rating on the stock but cut the $70 price target to $50. The analysts’ consensus target is up at $74.89. The last trade on Wednesday was reported at $32.23 a share.

Pinterest Inc. (NYSE: PINS): Though Piper Sandler upgraded the stock to Overweight from Neutral, it also cut its target price to $53 from $58. That compares with a consensus target of $54.68 and Wednesday’s closing share price of $32.84.

Plug Power Inc. (NASDAQ: PLUG): KeyBanc Capital Markets started coverage with an Overweight rating and has a $40 target. The consensus target is higher at $50.22. The shares closed trading at $26.27 on Wednesday.

Range Resources Corp. (NYSE: RRC): TD Securities upgraded the stock to Hold from Reduce and lifted the $16.50 target price to $22. The consensus target is higher at $26.46. The stock was last seen on Wednesday trading at $18.29 a share.
Regeneron Pharmaceuticals Inc. (NASDAQ: REGN): BofA Securities downgraded the stock to Underperform from Neutral and slashed the price target to $575 from $675. The consensus target is up at $715.68. The final trade for Wednesday hit the tape at $595.12 a share.

Roku Inc. (NASDAQ: ROKU): Atlantic Equities started coverage with an Underweight rating and a $136 target price. The consensus target price is much higher at $376.22. The final trade on Wednesday came in at $196.71 a share.

Salesforce.com Inc. (NYSE: CRM): UBS downgraded the shares to Neutral from Buy and dropped the target price on the software giant to $265 from $315. The consensus target is $327.34. The last trade on Wednesday was recorded at $227.67 per share

3M Inc. (NYSE: MMM): The RBC Capital Markets downgrade was to Underperform from Sector Perform. The stock has traded in a 52-week range of $163.38 to $208.95, and it has a $184.63 consensus price objective. The stock closed most recently at $179.49 a share.

Voya Financial Inc. (NYSE: VOYA): Evercore ISI upgraded the stock to Outperform from In Line and boosted the price target to $82 from $66. The consensus target is $76.45. The shares closed on Wednesday at $70.83.

Wayfair Inc. (NYSE: W): Wedbush downgraded the stock to Neutral from Outperform and sliced the price objective to $160 from $290. The consensus target is $282.04. The stock closed on Wednesday at $170.26, down over 8% for the day.
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Five major players in the energy infrastructure arena pay out sizable distributions that are reasonably safe and reliable, and their stocks are offering investors some attractive entry points.

See why one key analyst now favors three semiconductor equipment makers.

Wednesday’s early top analyst upgrades and downgrades included Applied Materials, Chevron, Cleveland-Cliffs, General Electric, Intel, Livent, Match, Medtronic, RealReal, Riot Blockchain, Sirius XM, StoneCo, Trip.com and Under Armour. Analyst calls seen later in the day were on Altria, BP, Peloton, Pfizer, Pinterest, Salesforce.com, 3M and more.
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Markets pulled back on Tuesday, with the tech sector leading the charge lower. This all comes just before the Federal Reserve plans to announce its monetary policy decision on Wednesday. What many are expecting is rising interest rates; hence, the pullback in tech in anticipation.

24/7 Wall St. is reviewing some big analyst calls seen on Tuesday. We have included the latest call on each stock, as well as a recent trading history and the consensus targets among analysts. Note that analyst calls seen earlier in the day were on Apple, Beyond Meat, Chesapeake Energy, CrowdStrike, DraftKings and more.

Adobe Inc. (NASDAQ: ADBE): JPMorgan downgraded the shares to a Neutral rating from Overweight and has a $680 price target. Shares were last seen near $612 on Tuesday, and they have a 52-week range of $420.78 to $699.54.

Academy Sports and Outdoors Inc. (NASDAQ: ASO): Goldman Sachs upgraded the stock to Buy from Neutral and raised the price target to $58 from $47. Oppenheimer initiated coverage with an Outperform rating. The consensus price target is $58.36, and shares were trading near $43 apiece.

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Big Lots Inc. (NYSE: BIG): Goldman Sachs downgraded it to Sell and cut the price target to $43 from $58. Shares were trading around $43 on Tuesday, and the consensus target price is $51.22.

Charter Communications Inc. (NASDAQ: CHTR): UBS downgraded it to Neutral from Buy and slashed the $810 price target to $645. Shares were trading around $629 on Tuesday, and the 52-week range is $585.45 to $825.62.

Cloudflare Inc. (NYSE: NET): JPMorgan’s downgrade to Underweight from Neutral included a price target cut to $144 from $212. Shares were last seen near $133 on Tuesday, and they have a 52-week range of $60.96 to $221.64.

Comcast Corp. (NASDAQ: CMCSA): Macquarie downgraded the stock to Neutral from Outperform and cut the price target to $52 from $65. The 52-week trading range is $46.29 to $61.80, and shares were last seen near $49.

Datadog Inc. (NASDAQ: DDOG): JPMorgan lowered its Overweight rating to Neutral with a $195 price target. Shares were trading around $159 on Tuesday, and the consensus target price is $210.33.

Dell Technologies Inc. (NYSE: DELL): Evercore ISI downgraded it to In Line from Outperform and has a $63 price target. Shares were trading around $54 on Tuesday, and the 52-week trading range is $35.57 to $59.49.

Ford Motor Co. (NYSE: F): Daiwa Securities downgraded the carmaker to Underperform but raised the price target to $19 from $16. Shares were last seen near $19 on Tuesday, and they have a 52-week range of $8.43 to $21.49.

General Motors Co. (NYSE: GM): Daiwa Securities lowered its Outperform rating to Neutral with a $65 price target. The consensus price target is $72.80, and shares were trading near $58 apiece.

Planet Fitness Inc. (NYSE: PLNT): The Cowen upgrade was to Outperform from Market Perform, and the firm raised the $92 price target to $100. Shares were trading around $86 on Tuesday, and the consensus target price is $97.80.

Public Storage (NYSE: PSA): Citigroup upgraded the shares to Buy from Neutral and raised the price target to $400 from $353. Shares were trading around $350 on Tuesday, and the 52-week range is $2121.22 to $357.31.

Ralph Lauren Corp. (NYSE: RL): The Goldman Sachs downgrade to Sell from Buy included a price target cut to $110 from $142. Shares were last seen near $116 on Tuesday, and they have a 52-week range of $97.72 to $142.06.

SolarWinds Corp. (NYSE: SWI): JPMorgan downgraded it to a Neutral rating from Overweight and lowered the price target to $16 from $23. The 52-week trading range is $13.57 to $23.00, and shares were last seen near $14.

Ventas Inc. (NYSE: VTR): Citigroup raised the Neutral rating to Buy with a $63 price target. Shares were trading around $48 on Tuesday, and the consensus target price is $60.33.

Zscaler Inc. (NASDAQ: ZS): JPMorgan downgraded the shares to Underweight from Neutral and cut the price target to $320 from $362. Shares were trading around $280 on Tuesday, and the 52-week trading range is $157.03 to $376.11.

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Three top stocks are among the top aerospace and defense selections at Goldman Sachs. While perhaps not as exciting as momentum-juiced technology stocks, they have robust growth potential and will stand long after many meme stocks are in the Wall Street graveyard.

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Two firms we covered in earlier previews reported earnings results after markets closed on Tuesday. Both beat on both the top and bottom lines, but their share prices fell in early trading Wednesday.

Hewlett Packard Enterprise reported revenue growth of just 1% year over year in two of its four segments, sending shares down about 1%. Salesforce.com lowered guidance while promoting Chief Operating Officer Brett Taylor to co-CEO. The stock was down more than 6% Wednesday morning.

After markets close Wednesday, CrowdStrike, Snowflake and Splunk are set to report quarterly results.

Here’s a look at three companies set to report quarterly results after markets close Thursday or before they open on Friday.
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Big Lots

Discount retailer Big Lots Inc. (NYSE: BIG) will report fiscal third-quarter results before markets open on Friday. Had the past year ended in early June, Big Lots would have posted a share price gain of more than 40%. As it is, for the past 12 months, the stock is down nearly 11%. Since June 8, shares have dropped almost 37%, while Dollar Tree (up 34.4%) and Dollar General (up 10.8%) have prospered.

July quarter results missed on the top and bottom lines, largely due to supply chain issues and higher freight costs. Those headwinds continue to blow and investors apparently have not seen any progress to overcoming them, at least not from Big Lots.

Analyst sentiment is mixed on the stock, with seven of 10 brokerages having a Hold rating while just one rates the stock a Buy. At a recent price of around $44.90 a share, the stock’s upside potential based on a median price target of $50 is 11.3%. At the high target of $63, the upside potential is 40%.

Fiscal 2022 third-quarter revenue is forecast at $1.32 billion, which would be down 9% sequentially and down 4.3% year over year. Analysts are forecasting an adjusted loss per share of $0.16 for the quarter, down from earnings per share (EPS) of $1.09 in the second quarter, and down from EPS of $0.76 in the year-ago quarter. For the full fiscal year ending in January, the consensus estimates call for EPS of $6.00, down 18.4%, on sales of $6.15 billion, down 0.8%.

Big Lots’ share price to earnings multiple for fiscal 2022 is 7.5. For fiscal 2023, the multiple to estimated EPS of $5.95 is 7.5, and for 2024, it is 6.4 times estimated EPS of $7.02. The stock’s 52-week range is $41.76 to $73.23. Big Lots pays an annual dividend of $1.20 (yield of 2.77%). Total shareholder return for the past year is 16.9%.
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DocuSign

Shares of cloud-based signature and contract management software provider DocuSign Inc. (NASDAQ: DOCU) have risen by about 6.5% over the past 12 months. At the end of its July quarter, DocuSign was trading up about 33% for the 12-month period. Shares plummeted by 13% in September, bounced about halfway back by early November, and have dipped by nearly 15% since then.
DocuSign’s revenue growth for three of the past four quarters has been more than 50% per quarter. The consensus estimate for the third quarter calls for revenue growth of less than 40%. DocuSign reports quarterly results after markets close on Thursday.

Revenue considerations aside, analysts remain solidly bullish on the stock. Of 20 brokerages covering the company, 17 have rated the stock a Buy or Strong Buy and the other three have a Hold rating. At a share price of around $241.50, the upside potential based on a median price target of $327.50 is about 36%. At the high price target of $389, the upside potential is 61%.

Fiscal 2022 third-quarter revenue is forecast at $531.25, up 3.8% sequentially and about 39% year over year. Adjusted EPS are forecast at $0.46, down a penny sequentially and more than double the $0.22 per-share profit in the same quarter a year ago. For the full fiscal year ending in January, DocuSign is expected to post EPS of $1.75, up nearly 95%, on sales of $2.09 billion, up 43.6%.

DocuSign’s share price to earnings multiple for the 2022 fiscal year is 138.3. For fiscal 2023, the multiple to estimated EPS of $2.21 is 109.6, and for 2024, it is 83.1 times estimated EPS of $2.92. The stock’s 52-week range is $179.49 to $314.76. DocuSign does not pay a dividend. Total shareholder return for the past year is 12.3%.

Marvell

Chipmaker Marvell Technology Inc. (NASDAQ: MRVL) has seen its shares appreciate by about 61% over the past 12 months. All that growth has come since late May. Demand from data centers, the auto industry, and network equipment makers has lit a fire under Marvell’s stock.

In the second quarter, revenue rose 48% year over year and year-over-year growth for the current quarter is about 44%. Both those percentages are more than double sales growth in the two previous quarters. Marvell is firmly entrenched in three fast-growing industries, all of which are expected to continue growing at a compound annual growth rate of 20% through 2024. The company reports quarterly results after markets close Thursday.

Analysts are solidly bullish on Marvell stock. Of 30 brokerages covering the shares, 24 have given the stock a Buy or Strong Buy rating, and five more rate the stock at Hold. At a share price of around $74.20, the upside potential to a median price target of $80 is 7.8%. At the high price target of $100, the upside potential is more than 48%.

For the third quarter of fiscal 2022, Marvell’s revenue is forecast to come in at $1.15 billion, up 6.8% sequentially and more than 50% higher year over year. Adjusted EPS are forecast at $0.38, up 12.7% sequentially and up 52% year over year. For the full fiscal year ending in January, EPS are forecast at $1.45, up 57%, on sales of $4.27 billion, up nearly 44%.

Marvell’s share price to earnings multiple for fiscal 2022 is 51.5. For fiscal 2023, the multiple to estimated EPS of $1.94 is 38.4, and for 2024, it is 30.1 times estimated EPS of $2.48. The stock’s 52-week range is $37.92 to $76.12. Marvell pays an annual dividend of $0.24 (yield of 0.32%). Total shareholder return for the past year is just over 60%.
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The futures were pointing higher Tuesday, after Monday’s vicious across-the-board sell-off that saw the S&P 500 finally hit a 5% sell-off level following two negative weeks for stocks prior to Monday. Many Wall Street and financial pundits had their fingers pointed toward Evergrande, the wobbling Chinese real estate company with more than $300 billion in liabilities. The company has a reported $83.5 million interest payment due on September 23 and another $47.5 million is due on September 28. According to some reports, the company is starting to repay investors with actual real estate.

While the consumer price index and retail sales last week tempered some of the inflation and growth worries, mounting stagflation concerns continued to pick up amid the ongoing supply chain and input pressures, as well as recovery headwinds from spread of the Delta variant. Toss in the fact that the stock market was horribly overbought and extended, and Monday’s selling should not be a huge surprise. Many across Wall Street think that the Federal Reserve talking heads will offer very tangible tapering hints at this week’s meeting, but strategists also expect monetary policy to remain extremely accommodative.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.

These are the top analyst upgrades, downgrades and initiations seen on Tuesday, September 21, 2021.
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AT&T Inc. (NYSE: T): Loop Capital started coverage of the legacy telecommunications leader with a Hold rating and a $30 price target. The Wall Street consensus target is $31.25 a share. The stock closed trading on Monday at $27.21 per share.

Altice USA Inc. (NYSE: ATUS): Loop Capital started coverage with a Hold rating and a $28 price target. The consensus target is much higher at $40.62. The stock closed Monday at $25.16.
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Atlanticus Holdings Corp. (NASDAQ: ATLC): JMP Securities initiated coverage with a Market Outperform rating and an $82 price target. The consensus target is just $63. Monday’s final trade came in at $48.41.

Big Lots Inc. (NYSE: BIG): Piper Sandler downgraded the shares to Neutral from Overweight and lowered the target price to $50 from $60. The consensus price target is $55.44. Monday’s last trade came in at $47.52.

Charter Communications Inc. (NASDAQ: CHTR): Loop Capital started coverage on the communications and cable giant with a Hold rating and an $800 price target. The $821.50 consensus target is well above Monday’s closing trade of $755.90 a share.

Citi Trends Inc. (NASDAQ: CTRN): Benchmark started coverage with a Buy rating and a $115 price target. That compares with the $136.67 consensus target and Monday’s closing share price of $70.59.

Comcast Corp. (NASDAQ: CMCSA): Loop Capital started coverage of the broadcasting and cable leader with a Buy rating and a $71 price target. The consensus target is $66.74. The shares closed at $56.49 on Monday.

Cowen Inc. (NASDAQ: COWN): Goldman Sachs started coverage of the boutique brokerage firm with a Sell rating and a $35 price target. The consensus target is considerably higher at $57.40. The stock closed trading on Monday at $33.08.

Denali Therapeutics Inc. (NASDAQ: DNLI): Oppenheimer started coverage with an Outperform rating and an $85 price target. The consensus target is $86.60. Monday’s last trade was posted at $49.86, which was down almost 6% on the day.
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First Solar Inc. (NASDAQ: FSLR): KeyBanc Capital Markets started coverage with a Sector Weight rating. Over the past 52 weeks, the stock has traded between $59.52 and $112.50. The consensus price target is $98.05, and Mondays’ closing trade came in at $95.69.

Fortinet Inc. (NASDAQ: FTNT): Stifel started coverage of the cybersecurity leader with a Buy rating and a $355 price target. The consensus price objective is just $291.72. Monday’s final trade hit the tape at $297.07.

Globant S.A. (NYSE GLOB): Goldman Sachs raised the shares to Buy from Neutral and boosted the price target from $235 all the way to $395. The consensus target is $286.30, and Monday’s close was at $313.12 per share.

Jefferies Financial Group Inc. (NYSE: JEF): Goldman Sachs began coverage of the fast-growing broker-dealer with a Buy rating and a $45 price target. The consensus target is $39.50. The last trade on Monday was reported at $35.90.
Joann Inc. (NASDAQ: JOAN): This fabric retailer was a pandemic winner but sales have slowed in 2021, so Zacks has selected the stock as its Bear of the Day. Shares last closed at $11.61, and the consensus price target is $15.25.

Lands’ End Inc. (NASDAQ: LE): Zacks has named this apparel retailer as its Bull of the Day stock, citing the strong demand it is seeing as the holidays approach. Its shares most recently closed at $24.01 apiece and have a consensus price target all the way up at $45.00.

Next Era Energy Partners L.P. (NYSE: NEP): KeyBanc Capital Markets resumed coverage with an Overweight rating and an $89 target price. The consensus target is $84.61, and Monday’s last trade came in at $78.14.

Oshkosh Corp. (NYSE: OSK): The Jefferies downgrade to Hold from Buy included a target price cut to $105 from $150. The consensus target is $144.71. The shares closed trading on Monday at $105.86.

Steven Madden Ltd. (NASDAQ: SHOO): Jefferies raised its Hold rating to Buy from and also lifted the target price on the popular shoe company’s shares to $50 from $44. The consensus target is $48.22. Monday’s last trade came in at $39.15.

T-Mobile US Inc. (NASDAQ: TMUS): Loop Capital stayed coverage of the stock with a Buy rating and a $160 price target. The consensus target is $171.03. Monday’s final trade hit the tape at $125.63.

Walt Disney Co. (NYSE: DIS): Daiwa Securities started coverage of the entertainment behemoth with a Buy rating and a $225 price target. The consensus price objective for the beloved company is $210.23. Monday’s final trade was reported at $178.61.

Warner Music Group Corp. (NYSE: WMG): Credit Suisse upgraded the stock from Neutral to Outperform and lifted the target price to $49 from $37. The consensus target price is $41.93, and the stock closed on Monday at $40.26. The shares were up almost 5% in premarket action.
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Four top companies are expected to raise their dividends this week, including General Mills and Lockheed Martin.

Be sure to see the five things investors should do now before the big correction comes.

Monday’s early top analyst upgrades and downgrades included Adobe, Analog Devices, Big Lots, Colgate-Palmolive, Novartis, Salesforce.com and Workday. More analyst calls were seen later in the day, including on Canadian National, Las Vegas Sands and Texas Instruments.
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The futures were down big across the board on Monday, as traders and investors return to action with guarded optimism at best. After two straight losing weeks, and with many of the top strategists across Wall Street talking about the potential for big corrections, either in the short term or by the end of the year, much of the bullish sheen is starting to wear off. Later this week we will see the first release of continuing unemployment claims since the Pandemic Unemployment Act expiration. There is an expectation that there will be an initial surge of workers back into the labor force, which could apply pressure to wage inflation.

While the consumer price index and retail sales last week tempered some of the inflation and growth worries, mounting stagflation concerns continued to pick up amid the ongoing supply chain and input pressures, as well as recovery headwinds from spread of the Delta variant. Many across Wall Street think that the Federal Reserve talking heads will offer very tangible tapering hints at this week’s meeting, but strategists also expect monetary policy to remain extremely accommodative.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.

These are the top analyst upgrades, downgrades and initiations seen on Monday September 20, 2021.
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Acadia Healthcare Co. Inc. (NASDAQ: ACHC): Credit Suisse upgraded the shares to Outperform from Neutral and has a $68 price target. The consensus target is $73.62. The final trade on Friday was reported at $61.22, which was up over 3% for the day.

Adobe Inc. (NASDAQ: ADBE): Wells Fargo started the technology giant with an Overweight rating and a $700 price target. The consensus target is $648.31, and the stock closed trading on Friday at $654.48.

Analog Devices Inc. (NASDAQ: ADI): JPMorgan upgraded the stock to Overweight from Neutral and boosted the target price on the chipmaker to $215 from $119. The consensus target is $190.48, and Friday’s closing print was $171.52.
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Big Lots Inc. (NYSE: BIG): Zacks selected this as its Bear of the Day, suggesting that inflation and supply chain headwinds are weighing on this discount retailer. Shares last closed at $47.68, and the consensus price target is $55.44.

BorgWarner Inc. (NYSE: BWA): Jefferies downgraded the stock to Hold from Buy and also dropped the target price to $47 from $65. The consensus target is $54.06. The stock closed Friday at $42.92 and was down close to 4% in Monday’s premarket.

Colgate-Palmolive Co. (NYSE: CL): Deutsche Bank raised its Hold rating on the consumer staples giant to Buy, and it also lifted the target price to $86 from $84. The consensus target is $86.60. The stock closed trading on Friday at $76.23.

Crown Holdings Inc. (NYSE: CCK): Barclays resumed coverage with an Overweight rating and a $140 price target. The $131.46 consensus target is closer to Friday’s closing share price of $105.85, which was down 2% on the day.

Fortress Transportation and Infrastructure Investors LLC (NYSE: FTAI): Barclays resumed coverage with an Overweight rating and a $31 price target. The consensus target is up at $39.56. Friday’s final trade was reported at $25.14.

Lear Corp. (NYSE: LEA): The Jefferies downgrade to Hold from Buy included a target price cut to $171 from $200. The consensus price target is $195.20. The final trade on Friday was reported at $153.05.
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Novartis AG (NYSE: NVS): Deutsche Bank downgraded the European pharmaceutical giant to Sell from Hold. Over the past 52 weeks, the stock has traded between $77.04 and $98.52, and it has a $103.33 consensus price target. The stock closed at $83.48 on Friday.

Oatly Group AB (NASDAQ: OTLY): Citigroup started coverage with a Buy rating and a $21 price target. The consensus target is much higher at $28. The last trade for Friday was reported at $16.27.

ONE Group Hospitality Inc. (NASDAQ: STKS): Piper Sandler raised its Neutral rating to Overweight and lifted the price target to $17 from $12. The consensus target is $14.50. The stock closed Friday at $10.37.

PAE Inc. (NYSE: PAE): BofA Securities started coverage with a Buy rating and an $8 price target. The consensus target is up at $12.10. Friday’s closing print was $5.90 a share.
RH (NYSE: RH): This luxury furniture retailer was named as the Bull of the Day at Zacks, which points out that the company just crushed earnings expectations once again. Its shares most recently closed at $672.15 apiece and have a consensus price target of $764.79.

Ritchie Bros. Auctioneers Inc. (NYSE: RBA): RBC Capital Markets started coverage with a Sector Perform rating and a $65 price target. The consensus target price is $62.67. Friday’s last trade came in at $61.57.

Ruth’s Hospitality Group Inc. (NASDAQ: RUTH): Piper Sandler raised the popular high-end steakhouse’s stock to Overweight from Neutral and nudged the price target up to $29 from $25. The consensus target is $25.90. The last trade for Friday was at $20.23.

Salesforce.com Inc. (NYSE: CRM): Wells Fargo started coverage with an Overweight rating and a $325 price target. The consensus target is just $297.74. The stock closed on Friday at $260.53.

Teradata Corp. (NYSE: TDC): Morgan Stanley’s upgrade to Overweight from Equal Weight included a target price boost to $66 from $55. The consensus price target is $57.18, and the shares were last seen on Friday at $50.61.

Visteon Corp. (NASDAQ: VC): Though Jefferies upgraded it to Buy from Hold, the firm lowered the target price to $116 from $122. The consensus target is $127.86. The last trade on Friday hit the tape at $85.46.

Workday Inc. (NASDAQ: WDAY): Wells Fargo started coverage with an Overweight rating and a $320 price target. That compares with the lower consensus target of $301.70, as well as Friday’s $268.51 closing share price.
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With the stock market is still overbought, expensive and long due for a breather, there are very few alternatives now for investors who need some growth and consistent income. Five stocks supply both and look like outstanding total return ideas, and they all are positioned well for the rest of 2021 and beyond.

Bank of America’s moonshot investments include synthetic biology and 6G networks, as well as eVTOL vehicles.

Investors should do these five things now before the big correction comes.

Friday’s early top analyst upgrades and downgrades included BJ’s Wholesale Club, Cirrus Logic, Cree, DTE Energy, Las Vegas Sands, O’Reilly Automotive, Realty Income and Take-Two Interactive Software. More analyst calls were seen later in the day, including on Adobe, Alphabet, CSX, Facebook, Lululemon Athletica and Nvidia.
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Friday morning futures were positive, with investors seemingly sanguine ahead of the weekend. After a fairly positive week, markets turned lower on Thursday ahead of the Federal Reserve’s Jackson Hole Symposium. More hawkish commentary from members of the Fed lifted futures going into the conference, but there is still more to be seen as to what will come of it.

Across Wall Street, the focus this week has been the commentary from Federal Reserve Chair Jerome Powell, who will be speaking via videoconference at the annual Economic Policy Symposium on Friday in Jackson Hole, Wyoming.

Despite worries and the potential for a “taper tantrum” like we saw in 2013, the Federal Reserve is vowing to keep interest rates contained. Recent Fed commentary suggested that the tapering of the $120 billion per month purchase of government and mortgage debt could be in the works by the end of the year and purchases could be completed by the end of 2022. That could become clearer this week.

With major Wall Street firms still warning of the potential for impending 5% to 10% correction across the board, which may have seen beginning last week, it makes sense for investors to continue building some cash reserves into any market strength while repositioning portfolios for the balance of 2021.
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24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.

These are the top analyst upgrades, downgrades and initiations seen on Friday, August 27, 2021.

Advance Auto Parts Inc. (NYSE: AAP): Morgan Stanley downgraded the stock to an Equal Weight from Overweight and has a $220 price target. That compares with a $222.47 consensus target and Thursday’s close at $208.82.

Applied Therapeutics Inc. (NASDAQ: APLT): Goldman Sachs lowered its Neutral rating to Sell and cut the price target to $10 from $16. Shares last closed at $17.78, and the consensus price target is $44.17.

AutoZone Inc. (NYSE: AZO): Morgan Stanley downgraded it to Equal Weight from Overweight and has a $1,650 price target. The shares have traded between $1,085.85 and $1,666.63 in the past year and closed on Thursday at $1,588.90.

Big Lots Inc. (NYSE: BIG): Telsey Advisory Group downgraded from Outperform to Market Perform with a $72 price target. The $64.13 consensus target is higher than Thursday’s close at $54.25.
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Chesapeake Energy Corp. (NASDAQ: CHK): BMO Capital Markets resumed coverage with an Outperform rating and a $70 price target. Shares last closed at $53.11, but they have traded as high as $59.30 in the past year.

Dave & Buster’s Entertainment Inc. (NASDAQ: PLAY): Truist’s upgrade to Buy from Hold came with a $54 price target. The shares most recently closed at $36.58 and have a consensus price target of $52.22.

Decker’s Outdoors Corp. (NASDAQ: DECK): This was named as the Bull of the Day at Zacks, which said that the maker of Hoka One One is one of the hottest retailers in the world. Shares most recently closed at $423.12 and have a consensus price target of $486.50.

Dollar Tree Inc. (NASDAQ: DLTR): Telsey Advisory Group downgraded the shares to Market Perform from Outperform and has a $102 price target. The closing share price on Thursday was $93.48. The 52-week trading range is $84.41 to $120.37.

Five Below Inc. (NASDAQ: FIVE): While Morgan Stanley downgraded it to Equal Weight from Overweight, the firm also raised the price target to $230 from $225. Shares most recently closed at $224.47 and have a consensus price target of $230.94.

HP Inc. (NYSE: HPQ): Morgan Stanley’s downgrade to Equal Weight from Overweight included a price target cut to $31 from $40. The last trade for Thursday hit the tape at $29.10. Analysts have a consensus price target of $32.82.

Lumber Liquidators Holdings Inc. (NYSE: LL): Zacks selected this as its Bear of the Day, suggesting that supply chain and logistics pressures were hitting this flooring retailer hard. Shares last closed at $20.06, and the consensus price target is just $20.50.

Marvell Technology Inc. (NASDAQ: MRVL): Craig Hallum lowered its Buy rating to Hold and has a $63 price target. The stock was last seen on Thursday trading at $63.24, in a 52-week range of $35.30 to $64.07.

O’Reilly Automotive Inc. (NASDAQ: ORLY): Morgan Stanley downgraded it to Equal Weight from Overweight and has a $630 price target. The shares most recently closed at $600.28, and they have a consensus price target of $650.40.
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Alcoholic beverage stocks are very cheap on a historical basis and are offering some incredible entry points. Four of them look like solid plays for investors concerned about lofty valuations and the potential for some market volatility going forward.

Thursday’s top analyst upgrades and downgrades included Dick’s Sporting Goods, Fate Therapeutics, Kimberly-Clark, Nordstrom, Roblox, TJX Companies and Zoom Video Communications. More analyst calls were seen later in the day, including on CarGurus, Coupang, Marathon Petroleum and Yum! Brands.
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Earnings announcements that we had previewed for Wednesday evening and Thursday morning all beat bottom-line expectations and all but one beat on the top line as well. Academy Sports and Outdoor, which was expected to report Thursday morning, announced instead that it will report results before markets open on September 9.

After markets close this afternoon, results are due from three companies we previewed on Tuesday: Bill.com, Peloton and Workday.
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Given the results posted Thursday morning by off-price retailers Dollar General and Dollar Tree, we are including here a preview of another off-price retailer reporting Friday morning. Two more companies we track are reporting results before markets open on Monday.

Big Lots

Discount retailer Big Lots Inc. (NYSE: BIG) has posted a share price gain of about 4% over the past 12 months. In early June, the company’s stock was up more than 35% for the same period. Since then, the stock has dropped 20%. Shares were beaten up Thursday morning, as investors punished the sector for the revenue miss and disappointing guidance from Dollar Tree. Rising costs for goods and transportation remain strong headwinds for these companies.
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Of 10 analysts covering the stock, only three rate the shares a Buy or Strong Buy, while five have a Hold rating. At a recent price of around $55.10, the stock’s implied upside based on a median price target of $66 is nearly 20%. At the high price target of $77, the implied upside is nearly 40%.

For the company’s second quarter of fiscal 2022, analysts are expecting revenue of $1.48 billion, which would be down 9.3% sequentially and 9.8% year over year. Analysts are looking for adjusted earnings per share (EPS) of $1.12, or 58% lower sequentially and down nearly 60% year over year. For the full fiscal year, the consensus estimate for EPS is $6.66, a drop of 9.3%, on sales of $6.16 billion, down about 0.6%.

The stock trades at 8.6 times expected 2022 and 2023 EPS and 7.6 times estimated 2024 earnings. The stock’s 52-week trading range is $42.05 to $73.23. Big Lots pays an annual dividend of $1.20 (yield of 2.09%).
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Cloudera

Enterprise cloud software maker Cloudera Inc. (NYSE: CLDR) has posted a share price increase of about 34% over the past 12 months. Since June 1, the shares have traded in a narrow range of less than a dollar, since the company agreed to be acquired by private equity firms for an all-cash price of around $5.3 billion. Shareholders will receive $16 in cash for each share they own.
Analysts’ ratings on Cloudera are bunched up at Hold, with a couple of Buy ratings. No surprises there.

Revenue for the second quarter of fiscal 2022 is expected to come in at $226.85 million, up 1.2% sequentially and 5.8% year over year. Adjusted EPS are tabbed at $0.09, down about 22.5% sequentially and a penny lower year over year. For the full fiscal year, EPS are forecast to drop by about 6% to $0.42 on sales of $921.85 million.
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Prior to the announced acquisition, revenue growth was forecast at 9.0% and 8.5% for 2023 and 2024, respectively, while earnings growth was forecast to increase by 19.4% in 2023 and nearly 25% in 2024.

Li Auto

Beijing-based electric vehicle maker Li Auto Inc. (NASDAQ: LI) has posted a share price gain of around 66% over the past 12 months. The shares spiked in late November before, dropping below the breakeven line in early May. Since then, the shares are up about 80%. Another Chinese EV maker, Xpeng, reported a larger-than-expected loss Thursday morning, alongside booming revenue. That’s had a negative effect on Li Auto’s stock in morning trading.

Only four brokerages cover the stock, but they all rate the shares at Buy or Strong Buy. At a price of around $30.25, the upside potential based on a median price target of $40.90 is 35%. At the high price target of $62, the upside potential is 105%. The downside risk here, as with many Chinese stocks, is that the government will step in and change the rules. The auto industry, which employs around 1.5 million people, may be insulated from the most damaging changes because automakers employ so many people and they are beginning to build more vehicles for export.

Li Auto is expected to report second-quarter revenue of $4.41 billion, up 23% sequentially and more than 1,300% higher year over year. The expected loss per share is $0.04, less than the loss per share of $0.06 in the first quarter and the year-ago loss per share of $0.41. For the full fiscal year, analysts are looking for an adjusted loss per share of $0.62 on sales of $20.72 billion.

The stock trades at 433.3 times estimated fiscal 2022 earnings and 97.9 times estimated 2023 earnings. The stock’s 52-week range is $15.02 to $47.70, and Li Auto does not pay a dividend.
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As earnings season winds down, there are still some interesting companies left to report. Many retailers are reporting results for the quarter that ended in January and there are a few tech companies on the schedule as well.

Looking ahead, after markets close today, we are scheduled to receive earnings reports from American Eagle Outfitters, Marvell Technology and Snowflake. Before markets open Thursday, Kroger and Michaels are expected to report results.

Among the stocks that reported after markets closed Tuesday and before they reopened Wednesday morning, discount retailer Dollar Tree managed to beat profit estimates but fell short on revenue. Michaels stock was up around 23% following the company’s agreement to be acquired by private equity firm Apollo Management for $3.3 billion. Apollo also led another acquisition this morning, the $6.25 billion buyout of Las Vegas Sands’ Vegas assets.

After markets close on Thursday we are scheduled to get four earnings reports, followed by one more before markets open on Friday.
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Broadcom

On Thursday afternoon, Broadcom Inc. (NASDAQ: AVGO) is scheduled to report results, and the company should have plenty of positive news. The stock gained about 45% in 2020 and has added more than 9% so far this year, even after the big dip in late February.

Analysts are solidly behind the stock, with all but two of 29 firms rating the stock a Buy or Strong Buy. The consensus 12-month price target on the stock is $487.46, less than 2% higher than the current trading price of around $478.00. At the high price target of $580, the potential upside on the stock is around 20%.

The consensus earnings per share (EPS) estimate for the company’s fiscal first quarter of 2021 is $6.55, an increase of around 25% year over year, on a revenue increase of almost 13% to $6.61 billion. For the 2021 fiscal year, current estimates call for EPS of $26.23, up 5% year over year, on sales totaling $26.4 billion, an increase of 10%.

Based on estimated EPS for fiscal 2021, the stock trades at a multiple of 18, while the multiple is around 17 for estimated 2022 earnings and 16 for 2023 EPS.

Costco

Costco Wholesale Corp. (NASDAQ: COST) saw its share price improve by a third in 2020, but shares have dived by more than 13% so far in 2021. It is hard to pinpoint a reason for the decline. The company announced last week that it is raising its starting wage to $16 an hour this month, which should improve its $23.50 hourly average, well above Walmart’s $11 starting pay and $14 average.

A majority (18 of 29) analysts rate the stock a Buy or a Strong Buy, while 11 rate the stock as a Hold. The consensus price target is $400.37, and shares traded Wednesday at around $325. Indicating a potential upside of around 23%. At the high price target of $435, the potential gain on the stock is around 34%.

Analysts are looking for quarterly EPS of $2.45 and sales of $43.8 billion, both double-digit improvements over the same quarter last year. For fiscal 2021, EPS is forecast at $10.13 on sales of $184.1 billion.

At the current price, the stock trades at around 32 times expected 2021 EPS, 30 times expected 2022 earnings and 26 times estimated 2023 EPS.
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In 2020, Gap Inc. (NYSE: GPS) managed to post a share price gain of around 16%, and it has added another 29% to the share price so far in 2021. Gap has set itself on a strategy of reducing store count, especially in shopping malls, where some 350 Gap and Banana Republic stores will be closed by 2023, and pushing hard on its Athleta and Old Navy brands.

Of 27 analyst ratings, 19 are Hold and just five are Buy or Strong Buy. Analysts apparently want to see more progress on Gap’s execution of its plan before raising their bets. Shares traded Wednesday at around $25, just under the consensus price target of $26, but 20% below the high target of $30 a share.

For the quarter, analysts are looking for EPS of $0.18 per share ($0.58 in the year-ago quarter) and revenue of $4.66 billion ($4.67 billion a year ago). Estimates for the 2021 fiscal year that ended in January call for a loss per share of $2.18 on sales of $14.04 billion.

At the current share price, the stock traded at around 20 times expected 2022 EPS and 13 times estimated 2023 EPS.

Smith & Wesson

The share price gain that Smith & Wesson Brands Inc. (NASDAQ: SWBI) posted in 2020 was nearly 140%, although for 2021 to date the shares have dipped by around 6%. The stock posted its 52-week high in the first week of January but has drifted downward ever since. S&W, along with rival Sturm Ruger, posted solid gains in 2020 thanks to more sales to women and African Americans.

The stock currently trades at around $16.70, well below its consensus price target of $22.40. Using that target price, the potential upside on the stock is around 36%. The potential upside at the high price target of $28 is about 42%. Of five analysts’ ratings, four have the stock as a Buy and one has it as a Hold.

The company spun off its outdoor gear into American Outdoor Brands in August, so revenue figures are not comparable, but still interesting. For S&W’s fiscal third quarter, analysts forecast EPS of $0.76 (up from $0.13 a year ago) and sales of $236.7 million. For fiscal 2021, the EPS estimate is $3.26, up from $0.82 in the prior year, on sales of $929 million, up by 37% year over year.

The stock trades at around five times expected 2021 EPS and 11 times expected 2022 EPS.
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Big Lots

Though Big Lots Inc. (NYSE: BIG) had doubled its share price in August of last year, it ended 2020 with a gain of around 57%. So far in 2021, the discount retailer has added another 48% to its stock price. In an update to its fourth-quarter outlook released in mid-January, the company said that same-store sales were up 7.5% to date for the quarter and that sales trends were expected to continue accelerating through the end of the quarter. Big Lots reports results before markets open Friday.

Analysts have been mostly enthusiastic, with 10 of 16 rating the stock a Buy or Strong Buy and the rest have the shares at Hold. The stock currently trades about $13 a share higher than its consensus price target of $55.38 and around $8.50 below its high target of $72. At the price, the potential upside on the stock is around 13%.

For Big Lots’ fiscal fourth quarter, analysts are expecting EPS of $2.50, up 4.6% year over year, and sales of $1.74 billion, up 8.1% over the same period last year. For the 2021 fiscal year that ended in January, EPS is forecast at $7.35, up from $3.67 in the prior year, and sales are forecast to rise 16.5% to $6.2 billion.

At Wednesday’s trading price, the stock traded at about nine times expected 2021 earnings, 11 times expected 2022 EPS and 10 times estimated 2023 EPS.
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The futures traded marginally essentially flat on Thursday, after a crazy trading day on Wall Street that saw big losses on all three major indexes and huge gains in individual stocks that have massive short interest. Top analysts on Wall Street are starting to point to “bubble” type metrics, with stunning gains in the short interest plays are an example, and many are urging caution. With fourth-quarter earnings reports continuing to stream in, most across Wall Street will not only be examining the results but looking to see what guidance for the first quarter and the rest of 2021 look like. With all the major indexes and the Russell 2000 still very close to all-time highs, it makes sense for investors to start building some cash reserves while repositioning portfolios for 2021.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.

These are the top analyst upgrades, downgrades and initiations seen on Thursday, January 28, 2021.

Abbott Laboratories (NYSE: ABT) was raised from Neutral to Buy with a $140 price target at BTIG Research. The Wall Street consensus target is $125.94. The stock closed trading on Wednesday at $114.29.

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American Express Co. (NYSE: AXP) was raised to Buy from Hold at DZ Bank, which has a $130 price objective. The consensus objective for the credit card giant is $130.76. Wednesday’s final trade hit the tape at $114.09.

BJ’s Wholesale Club Holdings Inc. (NYSE: BJ) was downgraded from Buy to Hold with a $52 price target at Gordon Haskett. The consensus target is $51.37 and the close on Wednesday was at $48.81, after an almost 7% gain for the day.

Big Lots Inc. (NYSE: BIG) was downgraded to Hold from Buy at Loop Capital. The shares have traded in a 52-week range of $10.13 to $65.11 and have a consensus price target of $53. With the stock closing up almost 20% on Wednesday at $65.05, this is very possibly a valuation call.

Brinker International Inc. (NYSE: EAT) was raised from Sector Weight to Overweight with a $64 price target at KeyBanc Capital Markets. The consensus target is in line at $64.04. The close on Wednesday was at $55.28, after an almost 12% retreat on the day.

Cheesecake Factory Inc. (NASDAQ: CAKE) was downgraded to Hold from Buy at Deutsche Bank, which has a $47 target for the popular casual dining restaurant. The consensus target is $37.31, and the shares closed at $49.91, almost 9% higher just on Wednesday. Despite the downgrade, the stock was up another 4% in Thursday’s premarket trading.

Colgate-Palmolive Co. (NYSE: CL) was downgraded to Hold from Buy at Stifel, which has a $53 price target for the consumer staples leader. The consensus target is $84.60, and the shares were last seen on Wednesday at $78.03.

eBay Inc. (NASDAQ: EBAY) was downgraded at Deutsche Bank from Buy to Hold with a $59 price target. The consensus target is higher at $62.71, and the closing price on Wednesday was $58.35 a share.

Exact Sciences Corp. (NASDAQ: EXAS) was started at Truist Securities with a Buy rating and a $226 target price. The consensus target is much lower $160.80. The shares were last seen on Wednesday at $136.85.

Invesco Ltd. (NYSE: IVZ) was upgraded at UBS from Neutral to Buy with a $24 price objective. That compares with the consensus objective of $22.04 and Wednesday’s final trade at $20.78.

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Kroger Co. (NYSE: KR) was downgraded to Market Perform from Outperform at Telsey Advisory Group, which has a $39 price target. The consensus target is $34.92, and the shares were last seen on Wednesday at $38.75, up almost 5% on the day.

Lam Research Corp. (NASDAQ: LRCX) was reiterated with an Outperform rating at Cowen. The firm also raised the price target on the semiconductor capital equipment giant to $585 from $575. The consensus target is $527.39. The shares pulled back almost 7% on Wednesday to close at $515.04.

PTC Inc. (NYSE: PTC) was upgraded to Outperform from Sector Perform at RBC Capital Markets, which also raised the price target to $145. The consensus target is $132.43. The last trade on Wednesday was reported at $120.83.

ServiceNow Inc. (NYSE: NOW) saw its price target raised to $590 from $575 at BMO Capital Markets, which kept its Outperform rating. The posted consensus target is $571.29. The shares closed Wednesday at $516.50, after a retreat of 3% for the day.

STMicroelectronics N.V. (NYSE: STM) was reiterated at Buy by Craig Hallum and saw its price target raised to $48 from $46. The consensus target is $41.64, and Wednesday’s closing price was $37.87, which was down almost 5%.

Tesla Inc. (NASDAQ: TSLA) was downgraded to Market Perform from Market Outperform at JPM Securities. Shares of the electric vehicle behemoth have traded in a stunning 52-week range of $70.10 to $900.40. The company posted solid results yesterday that beat on revenue but missed the earnings estimates. The stock closed Wednesday at $864.16, down just over 2%, but shares were off close to 5% in premarket action.

Twitter Inc. (NYSE: TWTR) was raised at KeyBanc Capital Markets from Sector Weight to Overweight with a $65 price target. The consensus target for the social media giant is $47.29. The stock was last seen Wednesday at $48.19.

ViacomCBS Inc. (NASDAQ: VIAC) was downgraded to Underperform from Neutral at Credit Suisse, though it raised the target price on the broadcast and programming giant to $37. The consensus target is $34.32, and Wednesday’s final print was a much higher $56, after almost an 8% gain for the day.

Weingarten Realty Investors (NYSE: WRI) was raised to Sector Outperform from Sector Perform at Scotiabank, which posted a $26 price target. The $23.59 consensus target is above Wednesday’s final trade of $22.81.

Xilinx Inc. (NASDAQ: XLNX) saw its price target raised to $153 from $120 at Cowen. The analyst noted that due to the company’s pending AMD merger, which remains on track to close by year-end, there was no forward guidance or earnings call. The posted consensus price target is $131.71, and the stock closed on Wednesday at $133.86, down almost 8% on the day.

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Five top energy stocks rated Buy at BofA Securities pay solid dividends, are attractively priced and may be outstanding contrarian ideas now, despite the new administration’s initiatives on climate change.

Some analysts believe Microsoft is a screaming buy after its most recent earnings report.

Wednesday’s early top analyst upgrades and downgrades included Bed Bath & Beyond, DoorDash, DraftKings, Kohl’s, Mastercard, Texas Instruments, 3M, Ulta Beauty and Under Armour. Analyst calls made later in the day featured GameStop, PayPal, Starbucks, Visa and more.
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Over halfway through the trading day on Thursday, and the broad markets are making a run into the afternoon. The S&P 500 and Nasdaq were each up over 1% and 2%, respectively, while the Dow Jones industrial average lagged with less than a 1% gain.

The big news so far today is people coming to grips with the civil unrest that occurred Wednesday afternoon when hundreds of Trump supporters stormed the Capitol building. Despite this intrusion, Congress was able to certify the electoral vote that will see Joe Biden as the next president of the United States.

24/7 Wall St. is looking at some big analyst calls that we have seen so far on Thursday. We have included the most recent analyst call on each stock, as well as a recent trading history and the general consensus among analysts.

For those that might have missed it, 24/7 Wall St. had an earlier round of analyst calls on Thursday.

Albertsons Companies Inc. (NYSE: ACI) was downgraded to an Underweight rating from Equal Weight with a price target of $17 at Barclays. The stock was last seen at $17.30, with a consensus price target of $20.59. The 52-week range is $12.91 to $17.82.

Arcturus Therapeutics Holdings Inc. (NASDAQ: ARCT) was initiated with an Overweight rating and a $118 price target at Wells Fargo. Wall Street has a consensus price target of $94.42. Arcturus stock traded at $59.30, in a 52-week range of $8.51 to $129.71.

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Big Lots Inc. (NYSE: BIG) was downgraded to an Underweight rating from Equal Weight with a $42 price target at Barclays. The shares were down over 1% at $44.90, within its 52-week range of $10.13 to $57.24. Analysts have a consensus price target of $57.22 for the stock.

CME Group Inc. (NASDAQ: CME) was upgraded to Neutral from Underweight by JPMorgan, and the price target was raised to $203 from $138. The stock recently traded up 2%, at $197.75 in a 52-week range of $131.80 to $225.36. The consensus price target is $177.56.

3D Systems Corp. (NYSE: DDD) was upgraded by JPMorgan to a Neutral rating from Underweight. The stock practically doubled to $22.00 on Thursday, with a consensus price target of $8.17. The 52-week trading range is $4.60 to $22.38.

Domino’s Pizza Inc. (NYSE: DPZ) was downgraded to Equal Weight from Overweight and the price target was cut to $360 from $440 at Stephens. Analysts have a consensus price target of $435.68 for the stock. Shares traded at $385.98, within the 52-week range of $270.08 to $435.58.

Editas Medicine Inc. (NASDAQ: EDIT) was downgraded by Raymond James to a Market Perform rating from Outperform. The stock was up about 9% to $88.14, with a consensus target of $46.33. The 52-week trading range is $14.01 to $96.45.

FedEx Corp. (NYSE: FDX) was downgraded to Peer Perform from Outperform by Wolfe Research. The stock was down about 2% to $248.96, in a 52-week range of $88.69 to $305.66. The consensus price target is $325.07.

Lockheed Martin Corp. (NYSE: LMT) was downgraded to a Neutral rating from Outperform and its price target was cut to $368 from $420 by Baird. Shares of Lockheed Martin were trading at $342.57, in a 52-week range of $266.11 to $442.53. Analysts have a consensus price target of $437.44.

Roku Inc. (NASDAQ: ROKU) was reiterated as Buy at Needham and the price target was raised to $400 from $315. The consensus price target is $131.57. Roku stock was up about 8% to $369.96 on Thursday, in a 52-week range of $58.22 to $373.80.

Raymond James analysts are very positive on three top cybersecurity stocks, as corporate spending is expected to increase in the space.

Note electric vehicle stocks continue to soar and that mining and metals stocks have been hitting new 52-week highs.

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Stocks were indicated to open slightly lower on Thursday after several days of strength have made the market feel that much more decoupled from the base economy and current events. The S&P 500 had risen back over 3,100 and the Dow Jones industrials are over 26,000. The trend that the investing community has been looking toward is pivoting beyond the COVID-19 pandemic as the economy opens up, looking beyond the bad news dominating the media right now and beyond the economic recession and weak earnings.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new ideas for long-term investors and short-term traders alike. Some analyst reports cover stocks to buy, and some cover stocks to sell or avoid.

What has happened in this last drive of the gains is that many analyst calls have included upgrades and price target hikes, but in many cases stocks are managing to move even beyond what the ratings and expectations might have indicated.

Remember, no single analyst report should be used as a sole basis for any buying or selling decision. Consensus analyst target prices are from Refinitiv.

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These are the top analyst calls we have seen on Thursday, June 4, 2020.

American Eagle Outfitters Inc. (NYSE: AEO) was up over 14% at $11.80 on Wednesday after announcing that foot traffic was returning stronger than expected. Morgan Stanley raised it to Equal Weight from Underweight with an $11 target, and Deutsche Bank reiterated its Buy rating and raised its price target to $15 from $13.

Big Lots Inc. (NYSE: BIG) was named as the Bull of the Day at Zacks, which said that discount retailers could really clean up over the next few months. Shares most recently closed at $38.58 and have a consensus price target of $34.71.

Comerica Inc. (NYSE: CMA) was raised to Buy from Neutral and its target was raised to $50 from $35 (versus a $40.04 prior close) at B. Riley FBR.

Costco Wholesale Corp. (NASDAQ: COST) was reiterated as Hold at Deutsche Bank, but the firm raised its target by a dollar to $297 in that call.

Caesars Entertainment Corp. (NASDAQ: CZR) was reiterated as Buy and the price target was raised to $12 from $11 at Deutsche Bank, with more upside as the economy reopens and people begin traveling again.

Eldorado Resorts Inc. (NASDAQ: ERI) was up 9.5% at $38.88 on Wednesday and was indicated up another 6% at $41.10 on Thursday. Deutsche Bank reiterated its Buy rating but raised the price target to $57 from $38.

GameStop Corp. (NYSE: GME) was reiterated as Neutral with a $4.25 price target at Wedbush Securities, although the firm did note that the coming console refresh from Xbox and PlayStation likely will help sentiment and that the company should be a primary beneficiary of that. Shares closed up 6.2% at $4.44, and the consensus price target is $3.89.

Goldman Sachs Group Inc. (NYSE: GS) was downgraded to Hold from Buy at Deutsche Bank.

Intercontinental Hotels Group PLC (NYSE: IHG) was named as the Zacks Bear of the Day stock. The firm said that you didn’t need to read what it had to say to know that the hotel industry was under pressure. Shares of last closed at $5.76, with a consensus price target of $55.00.

LGI Homes Inc. (NASDAQ: LGIH) was downgraded to Neutral from Outperform with an $86 price target at Wedbush, with the valuation downgrade coming as the shares have surpassed its $86 target price.

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Planet Fitness Inc. (NYSE: PLNT) was downgraded to Market Perform from Outperform at Raymond James

Plug Power Inc. (NASDAQ: PLUG) was started as Overweight with a $7 price target (versus a $4.17 close) at Barclays. The stock was indicated up 2% at $4.25, with a 52-week range of $1.86 to $6.05 and a $6.11 consensus price target.

PPD Inc. (NASDAQ: PPD) was started as Overweight with a $35 target at KeyBanc Capital Markets. Shares closed at $28.59 on Wednesday, in a 52-week range of $10.61 to $33.23 and with a $30.82 consensus price target.

Provention Bio Inc. (NASDAQ: PRVB) was started as Outperform with a $29 target at Oppenheimer, and RBC Capital Markets started it as Outperform with a $25 target price. The stock was down about 3.5% at $14.48 on Wednesday, and it has a 52-week trading range of $4.00 to $22.82.

Qudian Inc. (NYSE: QD) was downgraded to Sell from Neutral at Citigroup.

Replimune Group Inc. (NASDAQ: REPL) was reiterated as Buy and its target was raised to $25 from $24 (versus a $20.19 close) at H.C. Wainwright.

Sally Beauty Holdings Inc. (NYSE: SBH) was raised to Outperform from Perform with a $19 price target (versus a $15.22 close) at Oppenheimer.

SeaWorld Entertainment Inc. (NYSE: SEAS) was raised to Buy from Neutral and the price target was raised to $24 from $9 at Citigroup. Shares closed up 7.4% at $18.57 on Wednesday and had a $17.17 consensus price target.

Smartsheet Inc. (NYSE: SMAR) was reiterated as Buy and its target price was raised to $67 from $60 (versus a $59.08 close) at Needham.

Sprout Social Inc. (NASDAQ: SPR) was reiterated as Overweight and its target price was raised to $33 from $27 (versus a $31.11 close, after a 4.1% gain) at KeyBanc Capital Markets.

Sykes Enterprises Inc. (NASDAQ: SYKE) was raised to Outperform from Neutral with a $40 price target (versus a $28.58 close) at Robert W. Baird.

Tyson Foods Inc. (NYSE: TSN) was raised to Outperform from Market Perform and its target price was raised to $83 from $62 (versus a $60.10 close, after a 3.8% drop) at Bernstein.

Valvoline Inc. (NYSE: VVV) was raised to Buy from Hold at SunTrust Robinson Humphrey, which noted that the company is uniquely positioned to benefit from a surge in road trips over the next several months, as well leveraging its drive-thru quick lube business model.

Wells Fargo & Co. (NYSE: WFC) was raised to Buy from Hold at Deutsche Bank. Wells Fargo closed up 5.2% at $28.83 on Wednesday, with a $31.23 consensus price target. Its 52-week high is $54.75.

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We have identified 10 oil and gas stocks that are likely to survive and even thrive out in 2030.

There are also three internet and digital media stocks that should perform well as 2020 turns into 2021.

Wednesday’s top analyst upgrades and downgrades included Apache, Apple, CME, Devon Energy, Diamondback Energy, Gilead Sciences, Hexo, MarketAxess, Microchip Technology, Zoom Video Communications and more.

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Stocks were set to open up another 1% or so on Wednesday after surging on Tuesday, and the Nasdaq is now even up year to date. Investors are still grappling with very bad economic numbers, with unemployment high and gross domestic product crashing. And with Wall Street betting on a strong Main Street, investors have to consider an upcoming election, the ongoing risks of illness versus reopening and a weak consumer and weak business spending environment. It has been nothing short of amazing to see how much stocks have rallied since their panic-selling lows of March.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new ideas for long-term investors and short-term traders alike. Some analyst reports cover stocks to buy, and some cover stocks to sell or avoid.

Analysts are trying to normalize earnings and revenue trends for beyond 2020 at this point to determine what might be cheap and what might be expensive. Some calls are praising growth over value, and others are focused on base economy stocks that already have begun to recover.

Remember, no single analyst report should be used as a sole basis for any buying or selling decision. Consensus analyst target prices are from Refinitiv.

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These are the top analyst upgrades, downgrades and initiations from Wednesday, May 27, 2020.

Activision Blizzard Inc. (NASDAQ: ATVI) was named as the Bull of the Day at Zacks, which said that shares have climbed 20% in 2020 as the coronavirus-induced stay-at-home push has boosted sales. The shares most recently closed at $70.00 and have a consensus price target of $69.71.

AMC Entertainment Holdings Inc. (NYSE: AMC) was upgraded to Neutral from Sell and the price target was raised to $5 from $1 (versus a $5.11 prior close, after an 11% gain) at MKM Partners.

Anaplan Inc. (NYSE: PLAN) was reiterated as Buy and its price target was raised to $55 from $50 (versus a $47.15 close) at Deutsche Bank.

Apple Inc. (NASDAQ: AAPL) was reiterated as Buy and its price target was raised to $320 from $305 at Deutsche Bank. Apple closed down almost 0.7% at $316.73 on Tuesday, with a $308.91 consensus target price.

Big Lots Inc. (NYSE: BIG) was reiterated as Hold but the price target was raised to $31 from $19 at Deutsche Bank.

Bio-Techne Corp. (NASDAQ: TECH) was downgraded to Hold from Buy but its price target was raised to $260 from $245 (versus a $260.65 close) at Stifel.

Cerence Inc. (NASDAQ: CRNC) was reiterated as Outperform and the price target was raised to $40 from $27 (versus a $32.50 close) at Wedbush Securities.

ChemoCentryx Inc. (NASDAQ: CCXI) was started as Overweight with a $79 price target (versus a $59.20 close) at Wells Fargo.

Chipotle Mexican Grill Inc. (NYSE: CMG) was started as Hold at Deutsche Bank, which assigned a $1,130 price target. Shares closed down 3.7% at $1,017.00 on Tuesday, and this is among a group of hot stocks trading well above their consensus target prices.

Ciena Corp. (NASDAQ: CIEN) was reiterated as Buy and its price target was raised to $59 from $51 (versus a $53.91 close) at Rosenblatt.

Dentsply Sirona Inc. (NASDAQ: XRAY) was raised to Outperform from In-Line with a $50 price target (versus a $45.33 close) at Evercore ISI Group.

Dollar General Corp. (NYSE: DG) was reiterated as Hold but its price target was raised to $187 from $159 at Deutsche Bank.

Dollar Tree Inc. (NASDAQ: DLTR) was reiterated as Buy and the price target was raised to $97 from $87 at Deutsche Bank.

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Endava PLC (NYSE: DAVA) was started with an Outperform rating and a $60 price target (versus a $45.74 close) at Wedbush. The firm called the U.K.-based fintech enabler one of the fastest-growing digital IT services plays and pointed out its hyper-growth track record and a differentiated SMAC-based talent and capabilities focused on fintech in Eastern European delivery infrastructure and its European-based client base.

FirstEnergy Corp. (NYSE: FE) was downgraded to Neutral from Buy but the price target was raised to $41 from $39 at Mizuho.

Five Below Inc. (NASDAQ: FIVE) was reiterated as Buy and the price target was raised to $102 from $99 at Deutsche Bank.

Foot Locker Inc. (NYSE: FL) was maintained as Buy but its price target was lowered to $42 from $51 (versus a $28.22 close) at B. Riley FBR.

Freshpet Inc. (NASDAQ: FRPT) was started with a Buy rating and a $86 price target (versus a $70.92 close) at Jefferies.

Hyatt Hotels Corp. (NYSE: H) was downgraded to Neutral from Outperform with a $55 target price (versus a $56.54 close, after a 7% gain) at Robert W. Baird.

Jack in the Box Inc. (NASDAQ: JACK) was raised to Neutral from Sell and its price target was raised to $66 from $42 (versus a $65.31 close) at Goldman Sachs.

LATAM Airlines Group S.A. (NYSE: LTM) was down 35% at $1.68 on Tuesday after the Chilean-based airline filed for bankruptcy protection in New York. Deutsche Bank downgraded it to Sell from Hold and slashed its price target to $1 from $4.

New York Mortgage Trust Inc. (NASDAQ: NYMT) was raised to Equal Weight from Underweight with a $2.50 price target (versus a $2.15 prior close) at Barclays.

Nio Ltd. (NYSE: NIO) was raised to Neutral from Underweight and the price target was raised to $3.50 from $2.00 (versus a $3.82 close, after a 17% gain) at JPMorgan.

Peloton Interactive Inc. (NASDAQ: PTON) was reiterated as Outperform and its price target was raised to $50 from $46 at Oppenheimer. Shares closed down almost 9% at $41.70 on Tuesday, with a $38.48 consensus price target. Its recent high was $49.68.

Ping Identity Holding Corp. (NYSE: PING) was started as Overweight with a $32 price target (versus a $27.60 close) at Piper Sandler. It has a $25.96 consensus target price, and its post-IPO high has been $29.80.

Tesla Inc. (NASDAQ: TSLA) was reiterated as Neutral but the price target was raised to $800 from $600 at Wedbush. Tesla closed up 0.2% at $818.87 on Tuesday and was indicated down about 0.6% on Wednesday on news that it has decided to lower prices for its electric vehicles.

Tractor Supply Co. (NASDAQ: TSCO) was reiterated as Strong Buy and its price target was raised to $135 from $115 at Raymond James.

Walt Disney Co. (NYSE: DIS) was named as the Zacks Bear of the Day stock. The firm said that the coronavirus pandemic has dramatically impacted Disney and it fell short in its most recent quarterly report. Shares last closed at $120.95, with a consensus price target of $126.52.

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Moreover, SunTrust is out with its sizzling summer picks with sizable upside potential.

Tuesday’s top analyst upgrades and downgrades included Chembio Diagnostics, Cognex, Cree, Deere, Gilead Sciences, Halliburton, iRobot, Lam Research, Nvidia, Regeneron Pharmaceuticals, Sorrento Therapeutics, Take-Two Interactive Software and more.

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The markets staged a massive comeback on Monday but sold off again on Tuesday. Wednesday’s opening bell was indicated to open up almost 600 points on the Dow Jones industrial average and almost 60 points on the S&P 500. The market was not as pleased with the emergency rate cut as the Federal Reserve might have hoped.

Despite the volatility due to coronavirus outbreak fears and the added pressure coming from the political election cycle this year, many investors have not made that many major changes to their holdings after the incredible gains from 2019.

24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new ideas for traders and long-term investors alike. Some of the daily analyst calls cover stocks to buy, while some calls cover stocks to sell or to avoid. It is worth noting that many analysts have not hit the panic button, as they maintain positive ratings on many of the top stocks, unless there has been a major change inside of a company.

We have provided these analyst calls in a quick-hit summary for easy reading, and additional comments and trading data have been added on many of the calls. The consensus analyst price targets and other valuation metrics are from the Refinitiv sell-side research service.

These are the top analyst upgrades, downgrades and initiations from Wednesday, March 4, 2020.

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AGNC Investment Corp. (NASDAQ: AGNC) was raised to Outperform from Neutral at Wedbush Securities.

Altria Group Inc. (NYSE: MO) was maintained as Buy at Merrill Lynch, but the firm trimmed its price objective to $55 from $58. Altria closed down 0.4% at $41.90, with a 52-week high of $57.88 and a consensus target price of $54.89.

American States Water Co. (NYSE: AWR) was raised to Buy from Neutral with a $93 target price (versus an $81.16 prior close) at Janney.

American Water Works Co. Inc. (NYSE: AWK) was reiterated as Buy with a $153 target price (versus a $131.42 close) at Janney.

Beyond Meat Inc. (NASDAQ: BYND) was started with a Buy rating and a $130 target price at Argus. Shares closed down 0.7% at $95.43, and the consensus target price is $103.66.

Big Lots Inc. (NYSE: BIG) was named as the Zacks Bear of the Day stock. The firm said that after a poor quarter, coronavirus fears have earnings estimates falling at this discount retailer. Shares last closed at $17.64, with a consensus price target of $21.71.

Chevron Corp. (NYSE: CVX) was maintained as Neutral but its target price was lowered to $100 from $120 at Citigroup. Chevron closed down 2.3% at $94.39 on Tuesday, with a 52-week high of $127.34 and a $130.14 consensus target price.

Chipotle Mexican Grill Inc. (NYSE: CMG) was raised to Overweight from Equal Weight with a $1,000 target price (versus a $736.07 close) at Wells Fargo. It had a $937.35 consensus target price, and its 52-week trading range is $604.64 to $940.28.

Dynatrace Inc. (NYSE: DT) was started as Outperform with a $38 target price at Raymond James. The stock closed down 2.6% at $31.54, with a $35 consensus target price and a 52-week trading range of $17.05 to $37.06.

Epizyme Inc. (NASDAQ: EPZM) was started with an Overweight rating and a $33 target price (versus a $20.72 close, after a 9.9% drop) at Barclays.

Fate Therapeutics Inc. (NASDAQ: FATE) was started with an Overweight rating and a $40 target price (versus a $28.25 close, after an 8.9% drop) at Barclays.

FedEx Corp. (NYSE: FDX) was maintained as Outperform but its target price was lowered to $159 from $170 at Credit Suisse. FedEx closed down 4.77% at $133.09 on Tuesday, in a 52-week range of $132.56 to $199.32 and with a $172.52 prior consensus target price.

Home Depot Inc. (NYSE: HD) was raised to Buy from Neutral with a $251 target price at Nomura/Instinet. Home Depot shares closed down almost 0.9% at $227.94, with a $253.46 consensus target price and a 52-week trading range of $179.52 to $247.36.

Innovative Industrial Properties Inc. (NYSE: IIPR) was named as the Bull of the Day at Zacks, which said that as interest rates fall, the yield on this unique REIT looks better and better. Shares most recently closed at $95.45 and have a consensus price target of $150.50.

Iovance Biotherapeutics Inc. (NASDAQ: IOVA) was started with an Overweight rating and a $45 target price (versus a $35.79 close) at Barclays.

Installed Building Products Inc. (NYSE: IBP) was raised to Buy from Hold and the target price was raised to $78 from $71 (versus a $64.83 close) at SunTrust Robinson Humphrey.

Kohl’s Corp. (NYSE: KSS) was down 2.6% at $37.43 on Tuesday. Citigroup maintained its Neutral rating but cut its target price to $35 from $49. Credit Suisse maintained its Neutral rating and lowered its target from $48 to $40.

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MacroGenics Inc. (NASDAQ: MGNX) was started with an Underweight rating and an $8 target price (versus an $8.65 close) at Barclays.

Mattel Inc. (NASDAQ: MAT) was raised to Overweight from Sector Weight with a $16 target price (versus an $11.85 close) at KeyBanc Capital Markets. Mattel has a 52-week range of $9.06 to $14.87, and its consensus analyst target was $14.66.

Morgan Stanley (NYSE: MS) was raised to Buy from Neutral at Citigroup.

Nektar Therapeutics (NASDAQ: NKTR) was started as Overweight with a $30 target price (versus a $19.43 close) at Barclays.

Nordstrom Inc. (NYSE: JWN) was downgraded to Underweight from Equal Weight and the target price was lowered to $29 from $38 (versus a $33.44 close) at Barclays. Citigroup maintained its Neutral rating and lowered its target price to $33 from $36.

Okta Inc. (NASDAQ: OKTA) was downgraded to Hold from Buy at Needham.

Oracle Corp. (NYSE: ORCL) was raised to Buy from Hold at Societe Generale, but the target price was trimmed to $61 from $62. Oracle closed down 4% at $48.85, and its consensus target price was $55.67.

Qualcomm Inc. (NASDAQ: QCOM) was started with a Neutral rating and an $80 target price at Piper Sandler. Shares closed down about 2.5% at $78.56 on Tuesday, with a $101.09 consensus target price and against a 52-week trading range of $53.03 to $96.17.

Target Corp. (NYSE: TGT) closed down about 3% at $105.84 on Tuesday despite good earnings. UBS maintained its Neutral rating but cut its target price to $115 from $127. Stifel maintained its Hold rating and trimmed its target price to $125 from $130.

Toll Brothers Inc. (NYSE: TOL) was raised to Outperform from Neutral at Wedbush after weakness from earnings last week, but the firm is also adding Toll Brothers to its Best Ideas List.

TopBuild Corp. (NYSE: BLD) was raised to Buy from Hold and the target price was raised to $122 from $115 (versus a $105.74 close) at SunTrust.

Unum Therapeutics Inc. (NASDAQ: UMRX) was downgraded to Neutral from Outperform with a $1 target price (versus a $0.53 close) at Wedbush.

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With all of Wall Street watching the coronavirus issue, many are looking at health care stocks as a top 2020 play. Raymond James just made some big changes to its health care Top Picks list, and all four are rated Strong Buy.

Tuesday’s top analyst upgrades and downgrades included Apple, Baker Hughes, BHP, Gilead Sciences, Microsoft, PG&E, Schlumberger, Shopify, Tesla, Uber Technologies, UPS, Vale and many more.

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Stocks were indicated to open marginally lower on Monday on continued international market reactions to trade war and tariff woes. That excuse may be getting rather old, but each day brings new information, and that’s what’s driving the markets right now, that and a yield curve that has started to invert too much to ignore. Those fears of “sell in May and go away” proved to be right, at least for now, with the three major equity indexes down 7% to 9% from their highs. Investors should be considering how they want their portfolios positioned for the rest of 2019 and beyond.

24/7 Wall St. reviews dozens of analyst research reports each day of the week in an effort to find new trading and investing ideas for our readers. Some of these daily analyst reports cover stocks to buy, but others cover stocks to sell or to avoid.

Additional commentary and trading data have been added on some of the daily analyst reports. The consensus analyst price targets and other valuation metrics are from the Refinitiv (Thomson Reuters) sell-side research service.

These are the top analyst upgrades, downgrades and initiations seen on Monday, June 3, 2019.

Alcon Inc. (NYSE: ALC) was started with an Outperform rating in recent weeks at Credit Suisse, and the firm reiterated that rating on Monday with a deeper explanation, as some investors still consider it to be expensive relative to its peers, noting that the margin and capital structure mechanics that drive these differences make the stock as attractive at current levels.

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AmerisourceBergen Corp. (NYSE: ABC) was reiterated as Buy at Argus, with the independent research firm noting the PharMEDium consent decree.

Analog Devices Inc. (NASDAQ: ADI) was started with a Neutral rating and assigned a $90 price target (versus a $96.62 prior close) at Nomura/Instinet.

Big Lots Inc. (NYSE: BIG) was downgraded to Underperform from Buy at Merrill Lynch.

Black Knight Inc. (NYSE: BKI) was raised to Buy from Neutral and the target price was raised to $68 from $58 (versus a $56.69 close) at Goldman Sachs.

Booz Allen Hamilton Holding Corp. (NYSE: BAH) was started with an Overweight rating and assigned a target price of $70 (versus a $63.17 close) at Morgan Stanley.

Brinker International Inc. (NYSE: EAT) was raised to Neutral from Sell at UBS.

CACI International Inc. (NYSE: CACI) was started as Equal Weight at Morgan Stanley.

CenterPoint Energy Inc. (NYSE: CNP) was started with a Buy rating and assigned a $31 target price (versus a $28.44 close) at Mizuho.

Cortexyme Inc. (NASDAQ: CRTX) was started an Underperform rating and assigned a $14 target price at Credit Suisse. While the company’s target of Alzheimer’s disease speculation has a multibillion annual revenue potential if its COR388 proves to be marketable, Credit Suisse noted how basically every effort from other companies has come up way short and Cortexyme still has a lot to prove here. Canaccord Genuity started the stock at Buy with a $42 price target.

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Cree Inc. (NASDAQ: CREE) was downgraded to Market Perform from Outperform with a $55 target price (versus a $55.14 close) at BMO Capital Markets.

Cyclerion Therapeutics Inc. (NASDAQ: CYCN) was started with a Neutral rating and assigned a $15 target price at Credit Suisse.

Equinix Inc. (NASDAQ: EQIX) was started with a near-term Buy rating and assigned a 12-month price target of $550 at Argus. The firm was said the data center and IT facilities landlord has strong opportunities in the global colocation market and that it has grown both organically and through targeted acquisitions. The firm also called it undervalued at current levels, based on its strong growth prospects.

Infinera Corp. (NASDAQ: INFN) was downgraded to Underweight from Neutral at JPMorgan. Shares closed down 3.4% at $3.11 on Friday and were indicated down almost 4% more on Monday. The 52-week trading range is $3.00 to $10.25.

Lyft Inc. (NASDAQ: LYFT) was reiterated as Outperform at Credit Suisse, which noted that after management meetings its margin expansion thesis is still on track as the domestic ride-share market remains a rational duopoly and as there are multiple paths to expand Lyft’s revenues from every ride.

Marriott Vacations Worldwide Inc. (NYSE: VAC) was started as Neutral at JPMorgan.

NextCure Inc. (NASDAQ: NXTC) was started as Overweight and assigned a $25 target at Morgan Stanley. Piper Jaffray started it with an Overweight rating and a $26 target price. Its shares closed down 2.9% at $18.62 on Friday.

Science Applications International Corp. (NYSE: SAIC) was started as Overweight and assigned a $96 target price (versus a $76.74 close) at Morgan Stanley.

Targa Resources Corp. (NYSE: TRGP) was raised to Buy from Hold with a $48 target price at SunTrust Robinson Humphrey. It closed down 1.5% at $38.46 on Friday.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was raised to Outperform from Perform with a $12 target price (versus an $8.65 close) at Oppenheimer.

WellCare Health Plans Inc. (NYSE: WCG) was downgraded to Market Perform from Outperform at BMO Capital Markets.

While many were surprised the U.S. president threatened Mexico with tariffs, it makes sense given the global trade issues to look for companies with negligible if any export worries. We found four stocks rated Buy at Merrill Lynch that fit the bill.

Credit Suisse now expects that the Federal Open Market Committee (FOMC) will have to cut rates by 25 basis points this summer after the significant increase in business uncertainty during a period of escalating trade disputes and deteriorating economic data. In assessing the China trade war impact, Credit Suisse outlined how the United States is considering adding more names to the trade blacklist, noting that industrials and hardware have the highest risks because of their reliance on technologies from the United States and other developed countries.

Friday’s top analyst calls included Alkermes, Apple, Canada Goose, FireEye, J.Jill, Kraft Heinz, Uber Technologies, Vonage and many more.

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The futures traded higher Friday morning, but trade remains the driver of market anxiety and concern. Toss in the fact that many are leaving Wall Street early to enjoy a long Memorial Day weekend, so we could be in for a volatile but lower volume day.

Many investors have to be considering if “sell in May and go away” is more prudent in 2019 than in prior years, particularly as the indexes are still quite close to all-time highs. Investors also should be considering how they want their portfolios positioned for the rest of 2019.

24/7 Wall St. reviews dozens of analyst research reports each day of the week in an effort to find new trading and investing ideas for our readers. Some of these daily analyst reports cover stocks to buy, but other reports cover stocks to sell or to avoid.

Additional commentary and trading data have been added on some of the daily analyst reports. The consensus analyst price targets and other valuation metrics are from the Refinitiv (Thomson Reuters) sell-side research service.

These are the top analyst upgrades, downgrades and initiations seen on Friday, May 24, 2019.

Alibaba Group Holding Ltd. (NYSE: BABA) was added to the Select List at Stifel, which kept its Buy rating intact and posted a $220 price target. That compares to the consensus target on Wall Street of $208.69. The stock was last seen Thursday at $156.00.

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Big Lots Inc. (NYSE: BIG) was downgraded to Neutral from Overweight at Piper Jaffray, which also lowered the price target to $31. That compares to a consensus price target of $39.91. The stock closed Thursday at $29.31, down over 4% on the day.

Bloomin’ Brands Inc. (NASDAQ: BLMN) was raised to Buy from Neutral with a $25 price target at Guggenheim. The consensus target is $22.78. The stock closed Thursday at $18.23, down almost 10% on the day.

CannTrust Holdings Inc. (NYSE: CTST) was started with a Buy rating and an $11 target at Merrill Lynch. This is yet another of the popular marijuana stocks getting coverage on Wall Street. The shares closed Thursday at $5.69. The stock was up almost 5% in the premarket.

Constellation Brands Inc. (NYSE: STZ) was downgraded to Equal Weight from Overweight at Morgan Stanley. The 52-week trading range for the spirits giant is $150.37 to $234.26. The consensus price target is $223.09, and the shares closed Thursday at $206.21.

Deckers Outdoor Corp. (NYSE: DECK) saw its price target raised to $152 at Pivotal Research. The consensus price target is set at $146.58. The stock ended Thursday’s trading at $147.41, but it was up almost 7% in the premarket, after posting solid results Thursday.

Dow Inc. (NYSE: DOW) was raised to Neutral from Underperform at JPMorgan, and the analyst left the price target for the stock unchanged at $49. That compares with a much higher consensus target of $61.48. The shares were last seen Thursday at $48.71.

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Ericsson Inc. (NASDAQ: ERIC) was raised to Buy from Neutral at Credit Suisse. The 52-week trading range for the company is $7.16 to $10.46, and the consensus price target is $10.29. The stock closed Thursday at $9.72.

Lennox International Inc. (NYSE: LII) was downgraded to Sell from Neutral at UBS. The analyst noted that the company is trading at a peak multiple on peak growth. The heating and cooling giant has traded in a 52-week range of $177.36 to $282.20, and the consensus price target is $250.36. The stock closed near the 52-week high on Thursday at $276.37.

Lenovo Group Ltd. (NASDAQ: LNVGY) is raised to Buy from Neutral at Goldman Sachs. The analyst cited the company’s fundamentals continuing to improve following the fourth quarter beat, and its valuation is attractive at current share levels. The consensus price target is $15.05, and the shares closed Thursday at $14.99.

Sina Corp. (NASDAQ: SINA) was downgraded to Neutral from Outperform at Macquarie. The stock has traded in a 52-week range of $40.34 to $96.71. The consensus price target is $80.71. The stock closed Thursday at $42.54, down over 10% on the day.

Tricida Inc. (NASDAQ: TCDA) was started with a Buy rating and a $50 price objective at Needham. The consensus target is $54. The stock closed at $37.88 on Thursday.

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Vale S.A. (NYSE: VALE) was raised to Buy from Neutral at Merrill Lynch. The 52-week trading range is $10.89 to $16.13, and the consensus price target is $14.49. Thursday closing price was $11.79 a share.

Veeva Systems Inc. (NYSE: VEEV) was downgraded to Equal Weight from Overweight at Morgan Stanley, but the firm actually raised the price target to $144. That compares to a lower consensus target of $130.13. The shares ended trading on Thursday at $140.94.

Vodafone Group PLC (NYSE: VOD) was raised to Buy from Hold at HSBC. The shares have traded in a 52-week range of $15.53 to $26.69, and the consensus price target is $24.80. The stock ended trading at $15.56 on Thursday.

Zoom Video Communications Inc. (NYSE: ZM) was started with a Buy rating at Oppenheimer. The stock had a recent red-hot initial public offering and continues to act outstanding. Since the IPO, the shares have traded between $59.94 and $91.46. The consensus price target is $73.18, and the stock closed Thursday at $78.76.

Thursday’s top analyst upgrades and downgrades included AK Steel, Amgen, Booking, Chubb, Chipotle Mexican Grill, Expedia, Gilead Sciences, Goodyear, Philip Morris, Target, Zscaler and more.
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Stocks managed to recover all of Thursday’s big losses on Friday, and then some, and the major equity market indexes were signaling a slight positive open on Monday. Investors are still recovering from major selling and volatility, but the longstanding trend of buying every dip just has not been working for some time now. Investors should be rethinking and considering how they want their investments and assets positioned for 2019.

24/7 Wall St. reviews dozens of analyst research reports each day of the week in an effort to find new ideas for investors and traders alike. Some of these analyst reports cover stocks to buy, while some cover stocks to sell or to avoid.

Additional commentary has been added on most of the daily analyst reports, along with trading history. The consensus analyst price targets and other valuation metrics are from the Thomson Reuters sell-side research service.

These are the top analyst upgrades, downgrades and initiations seen on Monday, January 7, 2019.

Adobe Inc. (NASDAQ: ADBE) was raised to Buy from Hold with a $262 price target (versus a $226.19 prior close) at Pivotal Research.

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Advance Auto Parts Inc. (NYSE: AAP) was raised to Overweight from Equal Weight with a $205 target price (versus a $158.81 close) at Barclays.

Alphabet Inc. (NASDAQ: GOOGL) was raised to Buy from Hold and the target price was raised to $1,240 from $1,000 (versus a $1,078.07 close) at Pivotal Research. The parent of Google closed up 5% on Friday and was shown with a flat indication on Monday. Its consensus target price was about $1,350 coming into this call.

Altria Group Inc. (NYSE: MO) was downgraded at Cowen to Market Perform on Monday in a sector call, along with British American Tobacco and Imperial Brands. The firm noted that industry volumes should drop by 8% per year from 2018 to 2025, a faster drop than price hikes will be able to keep up with.

Arista Networks Inc. (NASDAQ: ANET) was raised to Overweight from Equal Weight with a $250 price target (versus a $206.50 close) at Morgan Stanley.

Big Lots Inc. (NYSE: BIG) was downgraded to Equal Weight from Overweight and the target price was lowered to $33 from $43 (versus a $30.09 close) at Morgan Stanley. The stock has a 52-week trading range of $26.21 to $64.42.

Constellation Brands Inc. (NYSE: STZ) was raised to Neutral from Negative with a $174 price target (versus a $166.62 close) at Susquehanna.

Dollar General Corp. (NYSE: DG) was raised to Overweight from Sector Weight with a $125 target price (versus a $108.77 close) at KeyBanc Capital Markets.

Epizyme Inc. (NASDAQ: EPZM) was raised to Outperform from Market Perform with a $12 price target (versus a $7.94 close) at Leerink. This was on the heels of a nearly 33% gain on Friday after the company announced the registration path for Tazemetostat for follicular lymphoma and also gave a pipeline update along with 2019 guidance.

Five Below Inc. (NASDAQ: FIVE) was raised to Overweight from Equal Weight with a $118 price target (versus a $107.97 close) at Morgan Stanley.

Hyatt Hotels Corp. (NYSE: H) was downgraded to Neutral from Buy at Merrill Lynch.

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Lennar Corp. (NYSE: LEN) was raised to Overweight from Sector Weight with a $50 price target at KeyBanc Capital Markets.

Owens-Illinois Inc. (NYSE: OI) was downgraded to Neutral from Buy at Barclays.

PNC Financial Services Group Inc. (NYSE: PNC) was downgraded to Neutral from Buy and the price target was lowered to $144 from $154 (versus a $121.23 close) at Goldman Sachs.

PulteGroup Inc. (NYSE: PHM) was raised to Overweight from Sector Weight with a $32 target price (versus a $27.20 close) at KeyBanc Capital Markets.

PVH Corp. (NYSE: PVH) was raised to Buy from Neutral but the target price was lowered to $145 from $170 (versus a $93.87 close) at UBS.

Salesforce.com Inc. (NYSE: CRM) was raised to Buy from Hold with a $164 price target at Pivotal Research. The stock was also added to the Best Ideas List at Wedbush Securities. Shares of Salesforce.com previously closed up almost 6% at $137.96, and they were indicated up another 2% at $140.70 on Monday, in a 52-week trading range of $102.37 to $161.19 and with a prior consensus target price of $171.78.

Skyworks Solutions Inc. (NASDAQ: SWKS) was downgraded to Perform from Outperform at Oppenheimer.

Silgan Holdings Inc. (NASDAQ: SLGN) was raised to Buy from Neutral with a $27 target price (versus a $23.66 close) at Citigroup.

Snap Inc. (NYSE: SNAP) was downgraded to Hold from Buy and the target price was lowered to $6 from $8 at Pivotal Research. Snap closed up 4.7% at $5.95 on Friday but was indicated down about 1% on Monday. Its 52-week range is $4.82 to $21.22.

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Spotify Technologies S.A. (NYSE: SPOT) was downgraded to Neutral from Buy at Guggenheim. Spotify closed up 8.7% at $118.51 on Friday but was indicated down about 1% on Monday, in a 52-week range of $103.29 to $198.99.

Trustmark Corp. (NASDAQ: TRMK) was downgraded to Underperform from Market Perform at Raymond James.

Urban Outfitters Inc. (NASDAQ: URBN) was raised to Hold from Sell with a $35 price target (versus a $31.68 close) at Deutsche Bank.

See also six health care picks are set to scream higher in 2019 and five stocks under $10 that have big analyst upside calls for 2019.

Friday’s top analyst upgrades and downgrades included Bed Bath & Beyond, CBOE, eBay, Etsy, Intel, Netflix, Nokia, Snap, UTC, Vonage and many more companies.

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Stocks managed to recover handily from Monday’s losses and the futures were indicated to open higher by over 1% for the Dow Jones industrials, S&P 500 and Nasdaq on Tuesday morning. What investors have to consider is that they have seen less upside from buying immediately after the big market sell-offs than in prior years, and the market volatility has been hard to stomach in recent weeks. Investors have to be considering how they want their investments and assets positioned for 2019.

24/7 Wall St. reviews dozens of analyst research reports each day to find new ideas for investors and traders alike. Some of these analyst reports cover stocks to buy, while others cover stocks to sell or to avoid.

Additional commentary has been added on most of the daily analyst reports, along with trading history. The consensus analyst price targets and other valuation metrics are from the Thomson Reuters sell-side research service.

These are the top analyst upgrades, downgrades and initiations seen on Tuesday, December 11, 2018.

Apptio Inc. (NASDAQ: APTI) was downgraded to Hold from Buy with a $38 price target (versus a $37.85 prior close) at Jefferies. It has a 52-week range of $21.88 to $41.36 and a consensus target price of $36.00.

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AT&T Inc. (NYSE: T) was raised to Buy from Neutral with a $34 price target (versus a $29.91 close) at Citigroup. AT&T had a consensus target price of $34.40, and its 52-week trading range is $28.85 to $39.33.

At Home Group Inc. (NYSE: HOME) was maintained as Overweight and the price target was lowered to $33 from $47 (versus a $20.28 close) at Morgan Stanley.

Bain Capital Specialty Finance Inc. (NYSE: BCSF) was started with a Buy rating and assigned a $21 price target (versus an $18.06 close) at Janney. The firm believes that Bain can generate a 9.5% return on equity with a cost of capital of 9% for its targets.

Big Lots Inc. (NYSE: BIG) was maintained as Overweight but the price target was lowered to $39 from $53 (versus a $29.64 close) at Piper Jaffray.

Comerica Inc. (NYSE: CMA) was maintained as Overweight but the price target was lowered to $98 from $106 at Morgan Stanley.

Cullen/Frost Bankers Inc. (NYSE: CFR) was maintained as Underweight and the price target was lowered to $99 from $103 at Morgan Stanley.

CyberArk Software Ltd. (NASDAQ: CYBR) was started with a Buy rating and assigned a $86 price target (versus a $75.73 close) at Guggenheim. The consensus target price is $89.89, and the 52-week trading range is $40.63 to $84.21.

Dick’s Sporting Goods Inc. (NYSE: DKS) was reiterated as Buy at Argus, and the independent research firm raised its price target to $42 from $40.

Fiserv Inc. (NASDAQ: FISV) was raised to Buy from Neutral and the price target was raised to $92 from $78 (versus a $76.14 close) at Goldman Sachs.

First Solar Inc. (NASDAQ: FSLR) was maintained as Equal Weight and the price target was lowered to $56 from $61 (versus a $43.21 close) at Morgan Stanley. It had a consensus price target of $66.64, and its 52-week trading range is $36.51 to $81.72.

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Palo Alto Networks Inc. (NYSE: PANW) was started with a Buy rating and assigned a $256 target price (versus a $179.24 close) at Guggenheim. Palo Alto had a consensus target price of $248.15, and its 52-week trading range is $142.67 to $239.50.

Pfizer Inc. (NYSE: PFE) was downgraded to Neutral from Overweight with a $46 price target at JPMorgan. Pfizer has a consensus analyst target of $44.59 and a 52-week range of $33.20 to $46.47.

Proofpoint Inc. (NASDAQ: PFPT) was started with a Buy rating and assigned a $110 price target (versus a $92.46 close) at Guggenheim. The consensus target price is $117.40. The 52-week trading range is $75.92 to $130.27.

Progressive Corp. (NYSE: PGR) was raised to Buy from Neutral with an $81 price target (versus a $63.65 close) at B. Riley FBR. The consensus target price is $74.50.

Principal Financial Group Inc. (NYSE: PFG) was downgraded to Sector Perform from Outperform with a $49 price target (versus a $42.93 close, after a 3.3% drop) at RBC Capital Markets.

Sanofi (NYSE: SNY) was raised to Buy from Hold at Jefferies. Its American depositary shares closed up 1.6% at $44.17 on Monday and were indicated up another 1.5% at $44.80 on Tuesday, compared with a consensus target price of $48.67.

Travelers Companies Inc. (NYSE: TRV) was downgraded to Sector Perform from Outperform with a $133 target price (versus a $123.00 close) at RBC Capital Markets. Travelers has a consensus target price of $137.00.

Tribune Media Co. (NYSE: TRCO) was downgraded to In-Line from Outperform with a $46.50 price target (versus a $45.15 close) at Evercore ISI Group.

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Ulta Beauty Inc. (NASDAQ: ULTA) was maintained as Outperform at Oppenheimer, but the firm lowered the price target to $340 from $375 in the call. Shares closed at $251.10 on Monday and had a consensus target price of $322.48.

United Natural Foods Inc. (NASDAQ: UNFI) was downgraded to Hold from Buy at Argus, a day after its shares fell 8% to $13.68. It had a consensus target price of $25.47, and its 52-week trading range is $13.64 to $52.55.

WEX Inc. (NYSE: WEX) was downgraded to Neutral from Buy and the price target was lowered to $167 from $205 (versus a $152.72 close) at Goldman Sachs. The consensus target price is $206.31, and the 52-week trading range is $128.27 to $203.50.

While stocks were indicated up on Tuesday, please do not ignore the dire warnings about many analyst calls during bear markets and broad sell-offs.

Also, here are the major Wall Street firms’ price targets for the S&P 500 for 2019.

Monday’s top analyst calls included Albermarle, Capital One, Equinix, KeyCorp, Kratos, Lowe’s, Micron Technology, Skyworks Solutions, Yamana Gold and many more.

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Stocks were indicated to open lower on Monday after weekend news that sounds like a China trade deal is not on the way very soon. Investors have been forced to see numerous waves of selling in 2018, and there has also been lower upside after buying immediately after the big market selloffs versus prior years. Now is the time for investors to start considering how they want their investments and assets positioned for 2019.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new investing ideas and trading ideas for investors and traders alike. Some of these analyst reports cover stocks to buy, while some of the analyst reports cover stocks to sell or stocks to avoid.

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Additional commentary has been added on most of the daily analyst reports, along with trading history. The consensus analyst price targets mentioned and other valuation metrics are from the Thomson Reuters sell-side research service.

These are the top analyst upgrades, downgrades and initiations seen from Monday, November 19, 2018.

Alaska Air Group, Inc. (NYSE: ALK) was started as Outperform and was assigned a $81 price target (versus $67.99 close) at Credit Suisse. The firm also named Alaska Air as its top pick in the airline sector.

American Airlines Group Inc. (NASDAQ: AAL) was started as Neutral and was assigned a $41 price target (versus $36.75 close) at Credit Suisse.

American Homes 4 Rent (NYSE: AMH) was downgraded to Outperform from Strong Buy at Raymond James.

AstraZeneca plc (NYSE: AZN) was downgraded to Hold from Buy at Investec.

BlackBerry Limited (NYSE: BB) was raised to Outperform from Neutral at CIBC World Markets, after news that it is acquiring Cylance to get deeper into cybersecurity . BlackBerry was up 1.2% at $8.97 on Friday and was indicated up 2% at $9.15 on Monday, and it has a 52-week range of $8.63 to $14.55.

Big Lots, Inc. (NYSE: BIG) was raised to Overweight from Neutral and the price target was raised to $53 from $43 (versus $41.53 close) at Piper Jaffray.

The Charles Schwab Corporation (NYSE: SCHW) was downgraded to Neutral from Buy at UBS.

Delta Air Lines, Inc. (NYSE: DAL) was started as Outperform and was assigned a $71 price target (versus $55.90 close) at Credit Suisse.

Eaton Vance Corp. (NYSE: EV) was downgraded to Neutral from Buy at Citigroup.

Edison International (NYSE: EIX) was raised to Buy from Neutral but the price target was lowered down to $59 from $72 (versus $54.45 close) at Citigroup.

Helmerich & Payne, Inc. (NYSE: HP) was raised to Neutral from Underperform and the price target was raised to $65 from $63 at Credit Suisse, with the firm seeing the company’s demand and profitability all moving in the right direction.

Intercept Pharmaceuticals, Inc. (NASDAQ: ICPT) was raised to Outperform from Perform with a $140 price target (versus $102.70 close) at Oppenheimer.

JetBlue Airways Corporation (NASDAQ: JBLU) was started as Underperform and was assigned a $16 price target (versus $18.03 close) at Credit Suisse.

Mallinckrodt PLC (NYSE: MNK) was raised to Buy from Hold and the price target was raised to $40 from $34 (versus $30.86 close) at Canaccord Genuity.

Novartis AG (NYSE: NVS) was raised to Buy from Neutral at Goldman Sachs, but the company was also added to the prized Conviction Buy list.

PG&E Corporation (NYSE: PCG) was raised to Buy from Neutral but the target price was cut to $40 from $48 at Citigroup. PG&E shares were up 37% at $24.40 on Friday after news that regulators did not want PG&E to go bankrupt even if it did have a role in the record wild fires in California.

PJY Partners Inc. (NYSE: PJT) was raised to Buy from Neutral and the price objective was raised to $55 from $53 at BofA Merrill Lynch.

The PNC Financial Services Group, Inc. (NYSE: PNC) was downgraded to Market Perform from Outperform at BMO Capital Markets.

The Progressive Corporation (NYSE: PGR) was raised to Neutral from Underperform at Buckingham Research.

ProPetro Holding Corp. (NYSE: PUMP) was started with a Buy rating with a $25 price target (versus $18.88 close) at Citigroup.

Puma Biotechnology, Inc. (NASDAQ: PBYI) was raised to Neutral from Sell at Goldman Sachs.

RingCentral, Inc. (NYSE: RNG) was raised to Outperform from Neutral with a $100 price target (versus $76.40 close) at Robert W. Baird. RingCentral had a consensus analyst target price of $95.60 and it has a 52-week range of $43.85 to $98.15.

Robert Half International Inc. (NYSE: RHI) was downgraded to Underweight from Overweight at Barclays.

Roche Holding A (RHHBY) was maintained as Buy but was removed from the prized Conviction Buy list at Goldman Sachs.

Select Energy Services, Inc. (NYSE: WTTR) was raised to Buy from Neutral with a $15 price target (versus $9.84 close) at Citigroup.

Southwest Airlines Co. (NYSE: LUV) was started as Neutral and was assigned a $54 price target (versus $52.58 close) at Credit Suisse.

Spirit Airlines, Inc. (NYSE: SAVE) was started as Neutral and was assigned a $59 price target (versus $52.44 close) at Credit Suisse.

TD Ameritrade Holding Corporation (NASDAQ: AMTD) was raised to Buy from Neutral at UBS.

Yeti Holdings Inc. (NYSE: YETI) was started with a Buy rating and was assigned a $22 price target (versus $17.02 close) at BofA Merrill Lynch.

Canaccord Genuity added many biotech catalysts to watch for the rest of 2018.

Friday’s top analyst calls were in shares of Goldcorp, Home Depot, J.C. Penney, NVIDIA, PG&E, Qualcomm, Target, Taiwan Semi, Weatherford, Yamana Gold and many more companies.

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Stocks were looking for direction on Monday morning ahead of Tuesday’s midterms and with new sanctions placed on Iran. While last week’s stock market bounce was handily off of the lows at the end of October, investors have seen lower upside after buying immediately after the big market pullbacks than in prior years. The investing community needs to be considering how they want to position their investments for the rest of the year and into 2019.

24/7 Wall St. reviews dozens of analyst research reports each weekday. Our goal is to find new ideas for investors and traders alike. Some analyst reports cover stocks to buy, while some cover stocks to sell or to avoid.

Additional commentary has been added on most of the daily analyst reports, along with trading history. The consensus analyst price targets and other valuation metrics are from the Thomson Reuters sell-side research service.

These are the top analyst upgrades, downgrades and initiations seen on Monday, November 5, 2018.

Adamas Pharmaceuticals Inc. (NASDAQ: ADMS) was downgraded to Neutral from Buy and the price target was slashed to $18 from $75 (versus an $11.89 prior close, after a 29.9% drop) at Mizuho. Its 52-week trading range is $11.70 to $44.00.

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Adverum Biotechnologies Inc. (NASDAQ: ADVM) was downgraded to Neutral from Overweight and the target price was slashed down to $4 from $12 (versus a $3.34 close, after a 26.6% drop) at Cantor Fitzgerald.

Alibaba Group Holding Ltd. (NYSE: BABA) was maintained as Overweight and the target price was lowered to $203 from $215 (versus a $147.59 close, after a 2.4% drop) at KeyBanc Capital Markets. The 52-week range is $130.06 to $211.70, and the consensus target price was $218.04.

American Axle & Manufacturing Holdings Inc. (NYSE: AXL) was raised to Neutral from Underperform with a $13 target objective (versus an $11.49 close) at Merrill Lynch.

Big Lots Inc. (NYSE: BIG) was started as Buy at Merrill Lynch. It closed down 0.5% at $42.72 on Friday and has a 52-week range of $36.20 to $64.42. The consensus target price is $47.18.

Bluebird Bio Inc. (NASDAQ: BLUE) was raised to Buy from Neutral with a $170 price target (versus a $132.69 close) at Janney. Shares were indicated up 2.4% at $135.88, and the consensus target price is $203.44.

Builders FirstSource Inc. (NASDAQ: BLDR) was downgraded to Underperform from In-Line with a $14 price target (versus a $14.48 close) at Evercore ISI.

Chevron Corp. (NYSE: CVX) was raised to Outperform from Neutral with a $138 price target (versus a $115.60 close) at Credit Suisse. Chevron closed up 0.7% at $115.60 on Friday, and the consensus target price is $145.89. FULL DETAILS

Encana Corp. (NYSE: ECA) was downgraded to Equal Weight from Overweight at Morgan Stanley. BMO Capital Markets downgraded it to Market Perform from Outperform. Encana closed up 1% at $8.64 on Friday.

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Goldman Sachs BDC Inc. (NYSE: GSBD) was raised to Outperform from Market Perform with a $21.75 price target (versus a $21.34 close) at Wells Fargo.

Hilton Worldwide Holdings Inc. (NYSE: HLT) was downgraded to Hold from Buy at Argus.

Middlesex Water Co. (NASDAQ: MSEX) was raised to Buy from Neutral with a $53 target price (versus a $43.78 close) at Janney.

Parsley Energy Inc. (NYSE: PE) was raised to Outperform from Neutral and the price target was raised to $33 from $31 (versus a $24.73 close) at Macquarie.

Ryerson Holding Corp. (NYSE: RYI) was raised to Buy from Hold with a $21 target price (versus an $8.59 close) at Deutsche Bank.

Starbucks Corp. (NASDAQ: SBUX) was raised to Buy from Neutral with a $75 target price (versus a $64.32 close) at Mizuho. The 52-week range is $47.37 to $65.68, and the consensus target price is $63.52.

Realogy Holdings Corp. (NYSE: RLGY) was downgraded to Neutral from Overweight and the target price was slashed to $19 from $32 at Piper Jaffray. Shares closed down 11.5% at $17.76 on Friday, in a 52-week range of $17.50 to $28.07.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was raised to Overweight from Equal Weight and the target price is $27 at Morgan Stanley. Teva closed down 1.8% at $22.59 on Friday but was indicated up 1.4% at $22.91 on Monday, in a 52-week range of $11.41 to $25.96. Its consensus analyst target was $21.44.

Under Armour Inc. (NYSE: UAA) was raised to Overweight from Neutral and the target price was raised to $32 from $20 at Piper Jaffray. Shares closed up 1.5% at $23.70 on Friday and were indicated up another 2.8% at $24.36 on Monday. The consensus target price is $20.89.

Friday’s top analyst calls included Abiomed, Allscripts, Apple, Carbonite, Kraft Heinz, L3, Southern Copper, Starbucks, VeriSign, XPO and many more.

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June 1, 2018: Here are four stocks trading with heavy volume among 76 equities making new 52-week lows in Friday’s session. On the NYSE advancers led decliners by about 2.21 to 1 and on the Nasdaq, advancers led decliners by about 2.09 to 1.

Newell Brands Inc. (NYSE: NWL) traded down nearly 4.2% Friday and posted a new 52-week low of $22.60 after closing Thursday at $23.58. The stock’s 52-week high is $55.08. Volume totaled around 10.6 million, about 40% above the daily average of around 1.1 million. The company’ CFO plans to retire at the end of the year after just two years with the firm.

Big Lots Inc. (NYSE: BIG) traded down about 11.5% Friday to post a new 52-week low of $36.20 after closing Thursday at $40.91. The stock’s 52-week high is $64.42. Volume was about six times the daily average of around 1.6 million shares. The company missed profit and same-store sales when it reported quarterly results this morning.

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Coty Inc. (NYSE: COTY) fell about 1.9% Friday to post a new 52-week low of $13.00 after closing at $13.25 on Thursday. The 52-week high is $21.68. Volume of about 8.4 million was about 60% higher than the daily average of about 5.3 million. The company had no specific news Friday.

Philip Morris International Inc. (NYSE: PM) dropped about 2.7% Friday to post a new 52-week low of $78.15. Shares closed at $80.32 on Thursday and the stock’s 52-week high is $123.55. Volume of around 5.4 million shares was about 20% below the daily average.The company had no specific news Friday.

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Stocks have been volatile lately, and this Monday was looking to be a positive day despite the geopolitical uncertainty after bombing targets in Syria. The bull market may now be over nine years old, but the trend of buying pullbacks has become much more vulnerable to sellers, volatility and each major news headline. Many investors are finding it hard to decide how they want their assets positioned for the rest of 2018 and beyond.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new ideas for investors and traders alike. Some analyst reports cover stocks to buy and some cover stocks to sell or to avoid.

Additional color and commentary has been added on most of the daily analyst reports. The consensus analyst price targets and other valuation metrics are from the Thomson Reuters sell-side research service.

These were the top analyst upgrades, downgrades and other research calls from Monday, April 16, 2018.

American Electric Power Co. Inc. (NYSE: AEP) was reiterated as Overweight and the price target was raised to $73 from $71 (versus a $67.34 prior close) at Morgan Stanley.

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American Water Works Co. Inc. (NYSE: AWK) was raised to Buy from Neutral and was the price target was raised to $92 from $87 at Janney. The firm adjusted its valuation to reflect the impact of its Pivotal Home Solutions acquisition.

BHP Billiton Ltd. (NYSE: BHP) was raised to Buy from Neutral at Goldman Sachs. Shares closed up 1.2% at $46.80 and were indicated up 0.2% at $46.90 on Monday, in a 52-week trading range of $33.37 to $50.79.

Big Lots Inc. (NYSE: BIG) was downgraded to Outperform from Strong Buy at Raymond James. The stock was down 1% at $42.02 on Friday and was indicated down 1.5% at $41.40 on Monday.

Boeing Co. (NYSE: BA) was reiterated as Equal Weight but the price target was raised to $400 from $375 (versus a $329.28 close) at Morgan Stanley. Boeing has a 52-week range of $175.47 to $371.60.

BorgWarner Inc. (NYSE: BWA) was started as Outperform and assigned a $60 target price at Cowen. This is after a 1.3% drop to $52.86 on Friday, and it compares with a 52-week range of $38.04 to $58.22.

Boston Beer Co. Inc. (NYSE: SAM) was raised to Neutral from Sell at Goldman Sachs. The stock was down 1.16% at $212.65 on Friday, and it has a 52-week range of $128.70 to $219.23.

Costco Wholesale Corp. (NASDAQ: COST) was raised to Outperform from Market Perform at Wells Fargo. Costco shares closed up nine cents at $188.91 on Friday, and the shares were indicated up 1.3% at $191.42 on Monday.

Crocs Inc. (NASDAQ: CROX) was downgraded to Negative from Neutral at Susquehanna. Shares were down almost 3% at $16.27 on Friday, and the stock was indicated down 4.9% at $15.47 on Monday.

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Delphi Technologies PLC (NYSE: DLPH) was started as Outperform and assigned a $64 price target (versus a $49.01 close) at Cowen.

Discover Financial Services (NYSE: DFS) was downgraded to Neutral from Buy at Goldman Sachs. Its shares closed down 1.5% at $70.54 on Friday, in a 52-week range of $57.50 to $81.93.

Dollar Tree Inc. (NASDAQ: DLTR) was downgraded to Outperform from Strong Buy at Raymond James. The stock closed down almost 1% at $97.13 on Friday, in a 52-week range of $65.63 to $116.65.

Dollar General Corp. (NYSE: DG) was downgraded to Outperform from Strong Buy at Raymond James. It closed down 0.6% at $96.28 on Friday. The 52-week range is $65.97 to $105.82.

Endocyte (NASDAQ: ECYT) was reiterated as Outperform and the price target was raised to $15 from a prior $7 price target (versus a $9.52 close) at Wedbush Securities. This is after the survival benefit was affirmed in its PSMA-617 in mCRPC (prostate cancer).

Impax Laboratories Inc. (NASDAQ: IPXL) was maintained as Market Perform but the price target was raised to $20 from $18 (versus an $18.35 close) at BMO Capital Markets.

ITT Inc. (NYSE: ITT) was maintained as Buy but the price target was lowered to $59 from $62 (versus a $51.26 close) at Stifel. ITT has a 52-week range of $36.93 to $57.62 and consensus price target of $58.00.

Lexicon Pharmaceuticals Inc. (NASDAQ: LXRX) was maintained as Outperform with a $40 price target at Wedbush after its R&D day updated potentially expanded uses on Xermello and other candidates. The shares closed at $8.09 on Friday.

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McDonald’s Corp. (NYSE: MCD) was downgraded to Equal Weight from Overweight at Stephens. McDonald’s closed at $161.73 on Friday, in a 52-week range of $130.91 to $178.70 and with a consensus target price of $187.04.

National Beverage Corp. (NASDAQ: FIZZ) was started as Outperform with a $125 price target (versus an $89.49 close) at Imperial Capital. The 52-week range is $81.65 to $129.82 and the consensus target price is $100.50.

Pure Storage Inc. (NYSE: PSTG) was started with a Buy rating and assigned a $24 price target (versus an $18.78 close, after a 2.3% drop) Deutsche Bank. The shares were indicated up 2.1% at $19.18 on Monday.

Tractor Supply Co. (NASDAQ: TSCO) was raised to Buy from Neutral at Goldman Sachs. This stock closed down 3.1% at $58.32 on Friday but was indicated up 2.9% at $60.00 on Monday.

Ulta Beauty Inc. (NASDAQ: ULTA) was raised to Buy from Neutral at Guggenheim. It closed up 1.4% at $220.88 on Friday, and the shares were indicated up 2.1% at $225.60 on Monday. The 52-week range is $187.96 to $314.86, and the consensus target price is $250.30.

Friday’s top analyst calls included BBVA, Bed Bath & Beyond, Dropbox, Eli Lilly, Netflix, Procter & Gamble, Splunk Starbucks and many more.

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Stocks were indicated lower on Wednesday morning due to interest rate pressure in the United States and abroad, but the trend that has thrived for over half of the almost nine-year-old bull market is that investors have done well buying each dip. After all, stocks are right at all-time highs, and the start of 2018 was the best start to a year since the 1980s. Investors are deciding how to position their portfolios for 2018 and beyond. Those same investors are also looking for new ideas.

24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new investing and trading ideas for investors and traders alike. Some of the daily analyst reports and research reports cover stocks to buy. Others cover stocks to sell or to avoid.

Additional color and commentary has been added on most of these daily analyst calls. Consensus analyst price targets mentioned and other valuation metrics are from the Thomson Reuters sell-side research service.

These were the top analyst upgrades, downgrades and other research calls from Wednesday, January 10, 2018.

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AMC Entertainment Holdings Inc. (NYSE: AMC) was downgraded to Sector Perform from Outperform at RBC Capital Markets.

Atlas Air Worldwide Holdings Inc. (NASDAQ: AAWW) was raised to Outperform from Market Perform at Cowen, and the firm raised its target price to $72 from $62 (versus a $57.30 prior close).

BHP Billiton Ltd. (NYSE: BHP) was maintained as Market Perform but the price target was raised to $52 from $45 at Cowen.

Big Lots Inc. (NYSE: BIG) was downgraded to Perform From Outperform by Oppenheimer

Black Hills Corp. (NYSE: BKH) was raised to Buy from Hold at Williams Capital.

CarMax Inc. (NYSE: KMX) was reiterated as Outperform and with an $81 price target (versus a $69.80 close) at Wedbush Securities.

Cinemark Holdings Inc. (NYSE: CNK) was raised to Outperform from Sector Perform with a $40 price target (versus a $33.91 close) at RBC Capital Markets.

Cisco Systems Inc. (NASDAQ: CSCO) was started as Overweight and assigned a $44 price target (versus a $39.69 close) at Piper Jaffray.

Cloudera Inc. (NYSE: CLDR) was raised to Buy from Neutral with a $24 price target (versus a $17.18 close) at Citigroup.

Deere & Co. (NYSE: DE) was raised to Outperform from Sector Perform at RBC Capital Markets, and the firm raised its target to $190 from $155 in the call.

Del Frisco’s Restaurant Group Inc. (NASDAQ: DFRG) was raised to Overweight from Equal Weight with an $18 price target (versus a $15.10 close) at Stephens.

Digital Realty Trust (NYSE: DLR) was raised to Buy from Hold at Deutsche Bank.

Epizyme Inc. (NASDAQ: EPZM) was started as Overweight and assigned a $20 price target (versus a $12.50 close) at Morgan Stanley.

Ferrellgas Partners L.P. (NYSE: FGP) was downgraded to Neutral from Buy at Citigroup.

F5 Networks Inc. (NASDAQ: FFIV) was started as Neutral at Piper Jaffray.

Harley-Davidson Inc. (NYSE: HOG) was maintained as Neutral with a $49 price target (versus a $52.27 close) at Wedbush.

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Hershey Co. (NYSE: HSY) was downgraded to Underweight from Equal Weight with a $105 price target (versus a $113.78 close) at Morgan Stanley.

Legg Mason Inc. (NYSE: LM) was downgraded to Hold from Buy at Jefferies.

Imax Corp. (NYSE: IMAX) was downgraded to Neutral From Overweight by Piper Jaffray.

Juniper Networks, Inc. (NYSE: JNPR) was started as Neutral at Piper Jaffray.

Lumentum Holdings Inc. (NASDAQ: LITE) was raised to Overweight from Equal Weight with a $67 price target (versus a $50.45 close) at Barclays.

Lloyds TSB Group PLC (NYSE: LYG) was downgraded to Equal Weight from Overweight at Morgan Stanley.

3M Co. (NYSE: MMM) was maintained as Hold at Deutsche Bank, but the firm raised its price target to $240 from $180. Shares closed up 0.6% at $241.28 on Tuesday.

Medical Properties Trust Inc. (NYSE: MPW) was downgraded to Hold from Buy at Deutsche Bank.

Methanex Corp. (NASDAQ: MEOH) was maintained as Outperform and the price target was raised to $69 from $65 at Cowen.

Morgan Stanley (NYSE: MS) was raised to Overweight from Neutral at Atlantic Equities.

Royal Bank of Scotland PLC (NYSE: RBS) was raised to Overweight from Equal Weight at Morgan Stanley.

Target Corp. (NYSE: TGT) was raised to Positive from Neutral and the price target was raised to $84 from $54 at Susquehanna.

Total System Services Inc. (NYSE: TSS) was raised to Outperform from In-Line at Evercore ISI.

United Continental Holdings Inc. (NYSE: UAL) was raised to Buy from Neutral with a $90 price target (versus a $68.48 close) at Citigroup. Cowen also raised its target on United Continental to $74 from $73.

Vipshop Holdings Ltd. (NYSE: VIPS) was raised to Buy from Neutral and the price target was raised to $16.50 from $9.50 at Instinet.

Wells Fargo & Co. (NYSE: WFC) was raised to Neutral from Underweight at Atlantic Equities. Wells Fargo closed up 0.35% at $62.26 on Tuesday and was indicated up 0.6% more at $62.65 on Wednesday.

Workday Inc. (NASDAQ: WDAY) was raised to Overweight from Equal Weight with a $145 price target (versus a $109.70 close) at Morgan Stanley.

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Morgan Stanley raised its exposure to European equities and lowered its exposure to U.S. equities due to a view of limited upside after already coming close to its annual targets.

Tuesday’s top analyst upgrades and downgrades included AK Steel, Carnival, FedEx, PayPal, Sunoco, Teva Pharmaceutical, Under Armour, Wells Fargo and many more.

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Stocks had a wild ride on erroneous reporting from ABC and around concerns over tax reform, but now tax reform has cleared the Senate. The Dow was indicated up almost 200 points and the S&P 500 was indicated up about 15 points on Monday morning. It is important to keep in mind that the major indexes are basically at all-time highs, and we have to consider that the primary trend that has continued to prevail for more than five years is for investors to buy all the big market sell-offs. Many investors are hunting for new investing and trading ideas to generate gains and income ahead.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. The goal is to find at least some of those new investing and trading ideas for investors and traders alike. Some of the daily analyst reports and research reports cover stocks to buy, while others cover stocks to sell or to avoid.

Additional color and commentary has been added on most of these daily analyst calls. The consensus analyst price targets mentioned and other valuation metrics are from the Thomson Reuters sell-side research service.

These were the top analyst upgrades, downgrades and other research calls from Monday, December 4, 2017.

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Blue Apron Holdings Inc. (NYSE: APRN) has ousted its CEO, and Barclays raised its rating to Equal Weight from Underweight and raised its price target to $4 from $3. Blue Apron shares closed up 8% at $3.23 on Friday, in a post-IPO trading range of $2.94 to $11.00 and with a prior consensus analyst price target of $5.69.

Broadcom Ltd. (NASDAQ: AVGO) was reiterated as Outperform and the price target was raised to $300 from $275 at Oppenheimer. This call is ahead of this week’s earnings and accounts partly for its well reported Qualcomm acquisition efforts.

Charter Communications Inc. (NASDAQ: CHTR) was downgraded to Underweight from Equal Weight at Barclays. The stock closed up 3% at $336.27 on Friday, and it has a 52-week range of $267.01 to $408.83.

CVS Health Corp. (NYSE: CVS) has confirmed that it will acquire Aetna in a $69 billion deal, versus its own $76 billion market cap. CVS was started as Buy with a $90 price target at Deutsche Bank. Jefferies maintained its Hold rating and $76 target price on CVS and said that the Aetna deal is transformative but comes with execution risk.

Delphi Technologies PLC (NYSE: DLPH-WI) was started as Outperform with a $60 price target (versus a $51.99 prior close) at RBC Capital Markets. This is ahead of the spin-off and it is a “when-issued” trading share.

eBay Inc. (NASDAQ: EBAY) was raised to Outperform from Market Perform and the price target was raised to $45 from $40 (versus a $35.20 close) at BMO Capital Markets. eBay has a 52-week range of $28.03 to $39.28 and a consensus target price of $39.03.

Rite Aid Corp. (NYSE: RAD) was started as Hold with a $2.25 price target at Deutsche Bank. The stock was down 4.5% at $1.92 on Friday, and it has a consensus target price of $2.18 and a 52-week range of $1.38 to $8.77.

United Parcel Service Inc. (NYSE: UPS) was raised to Buy from Hold and the price target was raised to $135 from $125 at Deutsche Bank. Shares closed down 0.9% at $120.31 on Friday and were indicated up 1.5% at $122.10 on Monday. The 52-week range is $102.12 to $122.00, and UPS has a consensus target price of $121.74.

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Other key analyst calls were seen as follows:

Apellis Pharmaceuticals Inc. (NASDAQ: APLS) was started as Overweight with a $31 price target (versus a $14.02 close) at JPMorgan.

Ball Corp. (NYSE: BLL) was raised to Outperform from Market Perform at BMO Capital Markets.

Big Lots Inc. (NYSE: BIG) was down 1.5% at $58.21 as of Friday’s close, in a 52-week range of $45.10 to $60.18. Two price target changes were seen on Monday: Barclays to $54 from $51 and Raymond James to $67 from $60.

CenterPoint Energy Inc. (NYSE: CNP) was downgraded to Neutral from Buy and the price target was cut to $30 from $32 at Guggenheim.

Crestwood Equity Partners L.P. (NYSE: CEQP) was raised to Buy from Neutral at UBS.

Express Scripts Holding Co. (NASDAQ: ESRX) was started with a Buy rating and assigned a $75 price target at Deutsche Bank.

InflaRx N.V. (NASDAQ: IFRX) was started as Outperform with a $31 price target at Leerink Swann. It was started as Outperform and assigned a $31 price target at BMO Capital Markets. The stock was also started as Overweight with a $30 price target at JPMorgan.

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McKesson Corp. (NYSE: MCK) was started as Buy with a $175 price target (versus a $146.39 close) at Deutsche Bank.

ObsEva S.A. (NASDAQ: OBSV) was started with an Outperform rating and assigned a $20 price target (versus a $10.15 close) at BMO Capital Markets.

Owens Corning (NYSE: OC) was already rated as Outperform but was added to the Top Picks list at RBC Capital Markets.

Palo Alto Networks Inc. (NASDAQ: PANW) was raised to Outperform from Market Perform at William Blair.

Prestige Brands Holdings Inc. (NYSE: PBH) was raised to Outperform from Market Perform at William Blair.

Supernus Pharmaceuticals Inc. (NASDAQ: SUPN) was raised to Buy from Neutral and the price target is $47 (versus a $37.20 close) at Janney. The firm noted that Supernus is the best positioned of its covered companies to be an immediate beneficiary of the lower corporate tax rates that now appear highly likely for 2018, and the firm has an improved confidence in its ability to continue the growth of Trokendi XR following recent uptick in prescription trends.

Walgreens Boots Alliance Inc. (NASDAQ: WBA) was started with a Hold rating and with a $78 price target at Deutsche Bank.

Waters Corp. (NYSE: WAT) was raised to Equal Weight from Underweight at Morgan Stanley.

Jefferies has four biotechs it thinks will explode higher in 2018.

Friday’s top analyst calls included AT&T, E*Trade, PG&E, Plug Power, Priceline, Tiffany, VMware and many more.

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Stocks were looking for direction on Monday morning after hitting all-time highs last week. The primary trend that has dominated this eight-year bull market is that investors keep finding new reasons to buy stocks after every market sell-off. Investors are also looking for new investing and trading ideas to generate gains and income.

24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new investing and trading ideas for our readers. Some of the top analyst reports cover stocks to buy. Other calls cover stocks to sell or to avoid.

Additional color and commentary has been added on some of these daily analyst calls. The consensus analyst price target data are from the Thomson Reuters sell-side research service.

These were the top analyst upgrades, downgrades and other research calls from Monday, September 25, 2017.

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Albemarle Corp. (NYSE: ALB) was downgraded to Neutral from Outperform with a $135 price target at Robert W. Baird, with a valuation call coming after a huge run. Its shares closed at $134.29 on Friday and were indicated down 1.1% at $132.75 on Monday. Albermarle had a 52-week trading range of $76.32 to $136.95 and a consensus analyst target price of $126.12.

Blue Apron Holdings Inc. (NYSE: APRN) was started with a Buy rating and assigned a $9 price target (versus a $51.9 prior close) at Guggenheim. Blue Apron shares were indicated up 3% at $5.35 on Monday, in a post-IPO range of $5.00 to $11.00 and with a consensus target price of $6.50.

Box Inc. (NYSE: BOX) was raised to Outperform from Market Perform at Raymond James. Shares closed up 4% at $18.17 on Friday and were indicated to open up 2.2% at $18.57 on Monday. Box has a 52-week range of $13.56 to $20.91 and a consensus target price of $24.20.

Dish Network Corp. (NASDAQ: DISH) was reiterated as Buy with an $80 price target (versus a $53.26 close) at Jefferies, with the firm noting that the shares are oversold and are currently at a buying opportunity. Dish Network has a 52-week range of $52.14 to $66.50 and a consensus target price of $73.22.

General Motors Co. (NYSE: GM) was raised to Buy from Hold with a $51 price target at Deutsche Bank. GM shares closed up 0.8% at $39.42 on Friday and were indicated up 1.6% at $40.07 on Monday. The 52-week range is $30.21 to $39.54, and the consensus target price was $38.87.

Transocean Ltd. (NYSE: RIG) was raised to Buy from Neutral at UBS. Shares closed up 2.6% at $9.32 on Friday and were indicated up another 4.8% at $9.77 on Monday. Transocean has a 52-week range of $7.20 to $16.66 and a consensus analyst target of $10.83.

Under Armour Inc. (NYSE: UAA) was raised to Overweight from Sector Weight with a $20 price target (versus a $16.41 close) at KeyBanc Capital Markets. It has a 52-week range of $15.92 to $40.02, and the consensus target price is $19.68.

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Other key analyst upgrades and downgrades were seen in the following:

AbbVie Inc. (NYSE: ABBV) was downgraded to Neutral from Buy with a $92 price target (versus an $87.48 close) at UBS.

American Outdoor Brands Corp. (NASDAQ: AOBC) was raised to Outperform from Neutral with a $19.50 price target (versus a $15.01 close) at Wedbush Securities.

American Water Works Co. Inc. (NYSE: AWK) was reiterated as Buy with a $90 fair value estimate (versus an $82.03 close) at Janney. This was on the heels of investor meetings for its long-term opportunities.

Anadarko Petroleum Corp. (NYSE: APC) was reiterated as Buy and the price target was raised to $77 from $76 (versus a $48.83 close) at Stifel.

AvalonBay Communities Inc. (NYSE: AVB) was raised to Outperform from In-Line at Evercore ISI.

Big Lots Inc. (NYSE: BIG) was started as Overweight with a $58 price target at Morgan Stanley.

Colgate-Palmolive Co. (NYSE: CL) was raised to Overweight from Equal Weight at Morgan Stanley.

Compass Minerals International Inc. (NYSE: CMP) was raised to Overweight from Neutral at JPMorgan. The shares closed down 13% at $60.10 on Friday and were indicated to open up almost 2% higher at $61.25 on Monday.

Corporate Office Properties Trust (NYSE: OFC) was raised to Buy from Hold with a $39 price target (versus a $32.53 close) at Jefferies.

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Diamond Offshore Drilling Inc. (NYSE: DO) was raised to Buy from Neutral at UBS.

Eiger Biopharmaceuticals Inc. (NASDAQ: EIGR) was reiterated as Outperform with a $34 target price (versus a $10.55 close) at Oppenheimer, ahead of a September 28 interactive event at Stanford.

Ensco PLC (NYSE: ESV) was raised to Buy from Neutral at UBS.

Essex Property Trust Inc. (NYSE: ESS) was raised to In-Line from Underperform at Evercore ISI.

HCP Inc. (NYSE: HCP) was raised to In-Line from Underperform at Evercore ISI.

Johnson & Johnson (NYSE: JNJ) was started with a Neutral rating and a $140 price target (versus a $131.39 close) at Citigroup.

Marriott Vacations Worldwide Corp. (NYSE: VAC) was reiterated as Buy and the target price was raised to $130 from $120 (versus a $119.72 close) at Stifel.

Noble Corp. PLC (NYSE: NE) was raised to Buy from Neutral at UBS.

Oasis Petroleum Inc. (NYSE: OAS) was maintained as Hold but the price target was cut to $10 from $10.50 (versus an $8.62 close) at Stifel.

Ollie’s Bargain Outlet Holdings Inc. (NASDAQ: OLLI) was started as Equal Weight at Morgan Stanley.

Phillips 66 Partners L.P. (NYSE: PSXP) was maintained as Buy but the price target was cut to $60 from $61 (versus a $51.40 close) at Stifel.

Prologis Inc. (NYSE: PLD) was downgraded to In-Line from Outperform at Evercore ISI.

Quest Diagnostics Inc. (NYSE: DGX) was downgraded to Market Perform from Outperform at Raymond James.

Staar Surgical Co. (NASDAQ: STAA) was raised to Buy from Hold at Canaccord Genuity.

Take-Two Interactive Software Inc. (NASDAQ: TTWO) was reiterated as Outperform and the price target was raised to $112 at Oppenheimer.

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Stocks were indicated to open higher, with the Dow up almost 100 points on strong earnings. Indexes remain very close to all-time highs, and this bull market in now more than eight years old. The one constant, despite the logic or reason differing each time, is that investors are buying the major indexes and their favorite stocks after every single market sell-off. Those same investors are also searching for new investing and trading ideas.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new investing and trading ideas for our readers. Some analyst reports cover stocks to buy and some cover stocks to sell or to avoid.

Additional color and commentary also has been added on most of the daily analyst calls. Consensus analyst price target data are from the Thomson Reuters sell-side research service.

These were the top analyst upgrades, downgrades and other research calls from Tuesday, July 25, 2017.

Apple Inc. (NASDAQ: AAPL) was maintained with an Outperform rating and its $170 price target also was maintained at Credit Suisse. The firm does note that Apple’s supply chain is tight and the firm did formally lower some of its near-term iPhone sales expectations. Still, it also sees pent-up demand and many iPhone buyers going up to the higher priced models. Apple has a 52-week trading range of $96.42 to $156.65 and a consensus analyst price target of $160.18.

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Lululemon Athletica Inc. (NASDAQ: LULU) was downgraded to Hold from Buy with a $66 target price (versus a $62.02 prior close) at Stifel. It has a 52-week range of $47.26 to $81.81 and a consensus price target of $61.20. Lululemon shares were indicated down almost 1% after the call on Tuesday morning.

Mondelez International Inc. (NASDAQ: MDLZ) was raised to Overweight from Neutral with a $49 price target (versus a $43.75 close) at Piper Jaffray. The 52-week range is $40.50 to $47.23 and the consensus price target is $50.08. Its shares were indicated up 0.7% at $44.05 after this call.

Tintri Inc. (NASDAQ: TNTR) has seen its quiet period come to an end and shares were indicated up 7% at $7.45 on Tuesday morning, versus a post-IPO range of $6.53 to $12.15. It was started as Buy at Merrill Lynch with a $16 price objective. Morgan Stanley gave it an Overweight rating and $10 target. Tintri was started as Overweight with a $9 price target at KeyBanc Capital Markets. It was started as Outperform with a $9 price target at Raymond James. Tintri was started as Neutral with an $8.50 target price at Piper Jaffray.

Under Armour Inc. (NYSE: UAA) was downgraded to Sell from Hold with a $17 target price (versus a $20.27 close) at Deutsche Bank. The shares were last seen down 2.6% at $19.75 after Deutsche Bank cut its rating. Under Armour’s 52-week range is $18.35 to $44.68 and the consensus analyst target was down to $21.57.

Yandex N.V. (NASDAQ: YNDX) was reiterated as Outperform and the American depositary share price target was raised to $37 from $32 (versus a $31.84 prior close) at Credit Suisse. The call is after a deep dive review into taxi valuations after its Uber-Russia deal. Yandex was indicated up 0.5% at $31.99, in a 52-week trading range of $17.28 to $32.44 and with a prior consensus analyst target price of $30.40.

Other key analyst upgrades, downgrades and initiations were seen as follows:

Big Lots Inc. (NYSE: BIG) was raised to Buy from Hold with a $56 price target (versus a $47.56 close) at Deutsche Bank.

Byline Bancorp Inc. (NYSE: BY) was started with a Buy rating and assigned a $25 price objective at Merrill Lynch. The firm sees Byline as transitioning to a growth story with a high-quality deposit base and an improving return profile.

Check Point Software Technologies Ltd. (NASDAQ: CHKP) was reiterated as Buy and the price target was raised to $124 from $115 at Argus, and this is on the firm’s Focus List.

DSW Inc. (NYSE: DSW) was raised to Buy from Hold with a $21 price target (versus a $16.48 close) at Deutsche Bank.

e.l.f. Beauty Inc. (NYSE: ELF) was started with a Buy rating and assigned a $30 target price (versus a $25.40 close) at Citigroup.

Gladstone Commercial Corp. (NASDAQ: GOOD) was started with a Buy rating and assigned a $24 price target (versus a $20.27 close) at D.A. Davidson. Gladstone Commercial is one of the real estate investment trusts with a 7% yield as well, and its 52-week range is $16.02 to $23.35.

Illinois Tool Works Inc. (NYSE: ITW) was reiterated as Buy and the price target was raised to $170 from $155 at Jefferies.

Lennar Corp. (NYSE: LEN) was reiterated as Buy and the price target was raised to $60 from $57 at Argus, noting that the boost is on Lennar’s higher earnings.

Power Integrations Inc. (NASDAQ: POWI) was downgraded to Hold from Buy at Deutsche Bank.

Ryanair Holdings PLC (NASDAQ: RYAAY) was raised to Buy from Hold at HSBC and the price target (in euros) was raised to €19.50 from €10.00, noting an established track record of underpromising on guidance and overdelivering on results. At $111.50 for its American depositary shares, Ryainair’s 52-week range is $67.56 to $115.97.

Werner Enterprises Inc. (NASDAQ: WERN) was raised to Neutral from Underperform at Merrill Lynch, and the price objective was raised to $32 from $30 based on its truckload utilization and rates scaling positive.

Wedbush Securities has raised its price targets on the three major cruise lines due to strong industry pricing: price target for Royal Caribbean is up from $117 to $125, and it remains on the Wedbush Best Ideas List; price target for Norwegian is up from $61 to $65; and its price target for Carnival is up from $66 to $67.

Despite the market getting expensive at all-time highs, there are five multiple analyst picks for safety among blue chips.

Oppenheimer has dropped coverage on shares of Office Depot, Pier 1, Staples and JC Penney.

Monday’s top analyst calls included Blue Apron, Boston Beer, Caterpillar, Goldman Sachs, Honeywell, Xerox and many more.

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[cnxvideo id=”655415″ placement=”ros”]The American Customer Satisfaction Index (ACSI) has released its latest evaluation of major American retailers. Costco Wholesale Corp. (NASDAQ: COST) and Dillard’s Inc. (NYSE: DDS) led in the two major categories.

Dillard’s was the top retailer among 15 companies in the “Department and Discount” category for 2016. It received a grade of 83 out of a possible 100. This was higher by 4% from 2015. Surprisingly, J.C. Penney Co. Inc. (NYSE: JCP) not only took second place with a score of 82, it also had the largest increase from the previous year, up 11%. At the bottom of the list, Wal-Mart Stores Inc. (NYSE: WMT) had a score of 72, which was 9% above the previous year. Across the entire category, customer satisfaction rose 5.4% to 78.

In the “Specialty” retail category. Costco led a list of 26 companies, with its score of 83, up 2% from 2015. Deeply troubled book retailer Barnes & Noble Inc. (NYSE: BKS) finished second, in a tie with two other retailers, with a score of 81, up 3%. Equally trouble retailer L Brands Inc. (NYSE: LB), which owns Victoria’s Secret, also posted 81, flat from last year. Victoria’s Secret recently posted a steep drop in same-store sales in L Brands’ most recently reported quarter. Sam’s Club, the warehouse division of Wal-Mart, also posted a score of 81, up 7%. Notably, one of Sam’s Club’s major rivals is Wal-Mart.

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At the bottom of the specialty retail category was another struggling company, Abercrombie & Fitch Co. (NYSE: ANF), with a score of 76, up 17% from 2015. Tied for second with scores of 77, Best Buy Co. Inc.’s (NYSE: BBY) score rose 4%, Toys”R”Us rose 3% and Big Lots Inc. (NYSE: BIG) also rose 4%.

The authors of the research wrote:

All retail categories post year-over-year gains in customer satisfaction for the 2016 holiday shopping season despite weak sales performance for many big chains, especially department stores. E-commerce sales continue to grow at a pace that outstrips brick-and-mortar stores, while the latter faces declining foot traffic.

Paradoxically, however, emptier stores can have a positive effect on customer satisfaction. Fewer customers can lead to shorter lines, faster checkout, and more attention from the sales staff. But empty stores are not the only reason for the rise in customer satisfaction in 2016. Retailers also have made strides to improve the customer experience with omnichannel offerings. Moreover, better customer service, lower gasoline prices, and food price deflation are contributing to stronger customer satisfaction.

It is an observation that reveals a mixed blessing.

The authors also posted their methodology:

The ACSI uses data from interviews with roughly 70,000 customers annually as inputs to an econometric model for analyzing customer satisfaction with more than 300 companies in 43 industries and 10 economic sectors, including various services of federal and local government agencies.

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[cnxvideo id=”655415″ placement=”ros”]With stocks at record highs, investors have to be considering how they should be positioned. The Dow Jones Industrial Average was last seen over 20,200 and the S&P 500 was up at 2,310. These are huge milestones for the stock market. With the bull market now almost eight years old, the reality is that the major stock indexes have risen more than 200% from their inflection point lows of March 2009.

One prevailing trend that just will not go away is that investors have managed to find new reasons to buy every single sell-off. Those same investors are also looking for new and overlooked opportunities.

24/7 Wall St. reviews dozens of analyst reports each day of the week to find new investing and trading ideas for its readers. Some analyst reports cover stocks to buy, while other reports cover stocks to sell or avoid. What stood out for Friday, February 10, 2017, was that the analyst calls were dominated by the retail sector. Perhaps this is due to the proposed border adjustment tax looking dead on arrival, or perhaps there has been an inflection point where companies are finding their footing on how to deal with the online competition of brick and mortar.

Starbucks Corp. (NASDAQ: SBUX) may be more in coffee and food than it is in retail, but this giant was downgraded to Hold from Buy at Argus. Most downgrades from other analysts covering Starbucks were on valuation, but this call from Argus was based on a weaker sales outlook. Starbucks closed up 1% at $55.81 on Thursday, but after being indicated down 0.5% at $55.50 on Friday morning, it was up 0.3% at $55.97 in midday trading. Starbucks has a 52-week range of $50.84 to $61.64 and a consensus analyst price target of $64.56.

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Wal-Mart Stores Inc. (NYSE: WMT) was started with a Positive rating and assigned an $80 price target by Susquehanna in a much broader retail segment call. Wal-Mart has a 52-week range of $62.35 to $75.19 and a consensus price target of $74.04.

Sears Holdings Corp. (NASDAQ: SHLD) may not look like it was the subject of a very cautious call because its shares soared on Friday. Sears shares were up over 40% at $7.95 in early trading indications, but the stock’s mid-Friday gain was up 30% at $7.25, after previously closing at $5.54. That huge gain was based more on a restructuring and cost/debt cut rather than based on actual earnings excitement. Sears was started as Negative with a $4 price target at Susquehanna, which is the equivalent of a Sell rating elsewhere.

J.C. Penney Co. Inc. (NYSE: JCP) was started with a Positive rating and assigned a $8.50 price target at Susquehanna. The shares closed up 1.3% at $7.07 on Thursday, but after being indicated up another 1.5% at $71.7 on Friday morning, this was down by 0.6% at $7.03 in mid-Friday’s trading session. J.C. Penney has a 52-week range of $6.35 to $11.99.

Friday’s full list of top analyst calls included other companies, like Ford, Intel, NVIDIA, Teva Pharmaceutical, Twitter, Alamos Gold, Fossil and others. More key analyst calls in the retail segment were seen as follows:

Bed Bath & Beyond Inc. (NYSE: BBBY) was maintained as Buy at Argus, but the firm lowered its price target to $50 from $55 (versus a $40.33 prior closing price).

Big Lots Inc. (NYSE: BIG) was started as Neutral with a $55 price target (versus a $52.97 prior close) at Susquehanna.

Costco Wholesale Corp. (NASDAQ: COST) was started with a Positive rating and assigned a $192 price target. Costco shares were up 0.5% at $171.80 midday on Friday, in a 52-week range of $138.57 to $171.87 and with a consensus price target of $175.46.

Dillard’s Inc. (NYSE: DDS) was started as Positive and given a $60 price target (versus a $57.29 close) at Susquehanna. Dillard’s was up 0.3% at $57.47 mid-Friday, versus a 52-week range of $53.61 to $88.58.

Kohl’s Corp. (NYSE: KSS) was started as Neutral with a $41 price target (versus a $42.10 close) at Susquehanna.

Macy’s Inc. (NYSE: M) was started as Neutral with a $31 price target (versus a $32.37 close) at Susquehanna. Macy’s was down 2.1% at $31.67 midday on Friday, perhaps with this unenthusiastic rating not driving much hope for a merger.

Nordstrom Inc. (NYSE: JWN) was started as Neutral with a $47 price target (versus a $45.55 close) at Susquehanna. Its shares were last seen down 2.8% at $44.36 in mid-Friday trading. The 52-week range is $35.01 to $62.82.

Target Corp. (NYSE: TGT) was started with a Neutral rating at Susquehanna. Its $70 price target compares with a previous close of $66.41, and Target shares were down 1.5% at $65.41 on Friday. The 52-week range is $62.94 to $84.14, and the consensus target price is $84.14.

TJX Companies Inc. (NYSE: TJX) was up 0.1% at $76.22 midday, after Susquehanna started it as Positive with a $92 price target.

Elsewhere in analyst research, Merrill Lynch has four Buy-rated stocks yielding 8% or more. There are also five safe strong dividends for investors if that elusive market sell-off ever comes to pass.

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[cnxvideo id=”509257″ placement=”ros”]Stocks were indicated marginally higher on Friday morning on what seems to be a very light news day. The Dow is still above 20,000 and the S&P 500 has gone above the 2,300 level. Even though the bull market in nearly eight years old, investors have managed to find new reasons to buy every sell-off. Those same investors are also looking for new and overlooked opportunities. And there is still a path for DJIA 21,422 later in 2017 or in early 2018.

24/7 Wall St. reviews dozens of analyst reports each day of the week. The goal is to find new investing and trading ideas for our readers. Some analyst reports cover stocks to buy, while other reports cover stocks to sell or avoid. Most of the analyst calls with expanded coverage include some color on prices and the consensus analyst price targets are from Thomson Reuters.

These are the top analyst upgrades, downgrades and initiations seen on Friday, February 10, 2017:

Ford Motor Co. (NYSE: F) was raised to Hold from Sell and the price target was raised to $12 from $10 (versus a $12.38 prior close) at Jefferies. The firm believes the bad news in Ford has been more than dissected in the past six months and is now sufficiently priced into the shares. Ford has a 52-week trading range of $11.07 to $14.22 and a consensus analyst price target of $13.19.

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Intel Corp. (NASDAQ: INTC) was downgraded to Hold from Buy and the price target was cut to $38 from $43 at Canaccord Genuity. Intel closed down 2.5% at $35.46 on Thursday and was indicated down 0.3% at $35.35 on Friday. Intel’s 52-week range is $28.14 to $38.45, and it has a consensus price target of $41.15.

NVIDIA Corp. (NASDAQ: NVDA) was down 1.9% at $116.38 ahead of earnings and was last seen indicated up almost 3% at $119.70 after the earnings reaction. The 52-week range is $24.75 to $120.92. Jefferies reiterated its Buy rating and raised its target price to $140 from $125.

Starbucks Corp. (NASDAQ: SBUX) was downgraded to Hold from Buy at Argus. While most downgrades seen have been on valuation, the Starbucks call from Argus was based on a weaker sales outlook. Shares closed up 1% at $55.81 on Thursday and were indicated down 0.5% at $55.50 on Friday. Starbucks has a 52-week range of $50.84 to $61.64 and a consensus price target of $64.56.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was downgraded to Underperform from Neutral and the price target was slashed to $27 from $40 (versus a $32.25 close) at Mizuho. Teva has a 52-week range of $31.90 to $59.35, and the consensus target price was $42.70.

Twitter Inc. (NYSE: TWTR) closed down 12.3% at $16.41 on more than 100 million shares after earnings showed that the user metric growth just is not coming. Twitter was downgraded to Hold from Buy at Deutsche Bank. It was cut to Underweight from Neutral at Atlantic Equities and to Sell from Neutral at UBS. And it was cut to Sell from Hold at Loop Capital and to Sell from Neutral at Citigroup. Twitter has a 52-week range of $13.73 to $25.25.

Wal-Mart Stores Inc. (NYSE: WMT) was started as Positive with an $80 price target at Susquehanna. Wal-Mart has a 52-week range of $62.35 to $75.19 and a consensus price target of $74.04.

Dividend investors note that four high-dividend and distribution payers rated as Buy at Merrill Lynch have yields of 8% and higher.

Follow @Jonogg on Twitter to get analyst calls and research summaries posted directly to your feed.

Other key analyst calls were seen in the following:

Alamos Gold Inc. (NYSE: AGI) was downgraded to Sector Perform but the price target was raised to $9 from $8.50 (versus an $8.60 close) at RBC Capital Markets.

Bed Bath & Beyond Inc. (NYSE: BBBY) was maintained as Buy at Argus, but the firm lowered its price target to $50 from $55 (versus a $40.33 closing price).

Big Lots Inc. (NYSE: BIG) was started as Neutral with a $55 price target at Susquehanna.

CSX Corp. (NYSE: CSX) was raised to Outperform at Avondale.

Dillard’s Inc. (NYSE: DDS) was started as Positive and was given a $60 price target (versus a $57.29 close) at Susquehanna.

Fossil Group Inc. (NASDAQ: FOSL) was downgraded to Underperform from Neutral and the price target was cut to $19 from $25 (versus a $23.31 close) at Mizuho.

J.C. Penney Co. Inc. (NYSE: JCP) was started as Positive with an $8.50 price target at Susquehanna. Its shares closed up 1.3% at $7.07 on Thursday and were indicated up another 1.5% at $71.7 on Friday, versus a 52-week range of $6.35 to $11.99.

Kohl’s Corp. (NYSE: KSS) was started as Neutral with a $41 price target (versus a $42.10 close) at Susquehanna.

Macy’s Inc. (NYSE: M) was started as Neutral with a $31 price target (versus a $32.37 close) at Susquehanna.

Nordstrom Inc. (NYSE: JWN) was started as Neutral with a $47 price target (versus a $45.55 close) at Susquehanna.

Sears Holdings Corp. (NASDAQ: SHLD) was started as Negative with a $4 price target at Susquehanna. After earnings, Sears shares were indicated up over 40% at $7.95 (versus a $5.54 close), based more on a restructuring and cost/debt cut rather than based on actual earnings excitement.

Ubiquiti Networks Inc. (NASDAQ: UBNT) was last seen down more than 8% at $58.50, versus a $64.13 close after its earnings report missed expectations. Ubiquiti was downgraded to Underperform and the price target was cut to $44 from $47 at Credit Suisse, with the note that the bearish case is building. Its 52-week range is $30.82 to $64.62.

Williams Partners L.P. (NYSE: WPZ) was started as Buy with a $47 price target (versus a $40.84 close) at Deutsche Bank.

Williams Companies Inc. (NYSE: WMB) was started with a Hold rating and given a $32 price target (versus a $28.67 close) at Deutsche Bank.

Thursday’s top analyst calls included Baker Hughes, Cree, Freeport-McMoRan, GrubHub, Silver Wheaton, Dynegy, Panera Bread, Ulta Beauty and over a dozen more.

This week, Merrill Lynch pointed out that the S&P 500 recently reached 17 times forward earnings. This is a level that was reached in 2015, but prior to that a high valuation like this had not been seen since 2004. The firm also said that financial stocks and energy stocks saw multiples contract in January as earnings estimates rose faster than prices.

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Once Thanksgiving dinner is safely tucked away, many Americans’ thoughts turn to shopping. Some will hit the stores that are open on the holiday and others may just browse through the offers at a store’s website. Some may even wait until Black Friday.

Whatever your choice, you and your fellow shoppers are expected to drop nearly $656 billion over the Black Friday weekend, an increase of 3.6% compared with last year’s spending. And everyone will be in search of the best prices.

Researchers at WalletHub have surveyed the available Black Friday advertising supplements from 35 retailers, looking at some 8,000 deals on offer from U.S. retailers. They were looking for the largest advertised discounts in these product categories: apparel and accessories; electronics and computers; consumer electronics; consumer packaged goods; toys; and appliances.

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Before looking at the stores with the best prices in each category, here’s a list of the 10 stores offering the largest average discount in general:

1. Macy’s Inc. (NYSE: M): 63.4%
2. Stage Stores Inc. (NYSE: SSI): 62.8%
3. J.C. Penney Co. Inc. (NYSE: JCP): 62.8%
4. Harbor Freight (tools): 62.6%
5. Gordmans: 61.6%
6. Kohl’s Corp. (NYSE: KSS): 58.1%
7. Shopko: 55.6%
8. Fred Meyer: 49.7%
9. Craft Warehouse: 45%
10. Sears Holdings Corp. (NASDAQ: SHLD) tied with CVS Health Corp. (NYSE: CVS): 43.9%

The average discount among the 35 stores surveyed was 39.0%, slightly below the average of 40.2% last year.

The five retailers offering the smallest discounts were:

1. Big Lots Inc. (NYSE: BIG): 23.5%
2. Amazon.com Inc. (NASDAQ: AMZN): 24.7%
3. Costco Wholesale Corp. (NASDAQ: COST): 25.4%
4. Verizon Communications Inc. (NYSE: VZ): 27.5%
5. Ace Hardware: 27.7%

The most-often discounted category is toys, with 22.8% of retailers offering discounts. Apparel and accessories are discounted at 21.7% of retailers, while computers and electronics are discounted at 7.6% of stores and jewelry at 7.5%.

The most heavily discounted category is jewelry, with an average discount of 73%. Books, movies and music are discounted an average of 56%, and apparel and accessories are discounted an average of 50%.

For a full list of stores offering the best discounts in each category and other details of the survey, visit the WalletHub website.

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Big Lots Inc. (NYSE: BIG) reported second-quarter 2016 results before markets opened Friday. The discount retailer reported adjusted diluted earnings per share (EPS) of $0.52 and $1.2 billion in revenues. In the same period a year ago, Big Lots reported adjusted EPS of $0.41 on revenue of $1.21 billion. Second-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $0.46 and $1.22 billion in revenue.

Same-store sales rose 0.3% in the quarter, while net sales decreased by 0.5%. The company attributed the net sales decline to a reduced store count.

Big Lots guided adjusted EPS for the third quarter to a range from a loss of $0.04 to a gain of $0.01. The company broke even in the third quarter of 2015, and analysts expect a loss of $0.01 per share in the quarter this year. Same-store sales are forecast to be flat to up 2%.

For the fourth quarter, Big Lots provided initial guidance for adjusted EPS of $2.18 to $2.23, compared with last year’s total of $2.01. Same-store sales are once again forecast to flat to up 2%.

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For the full fiscal year, the company expects adjusted EPS in a range of $3.45 to $3.55, compared with last year’s earnings of $3.01. Same-store sales are projected to rise by 1% to 2%. The company also increased its cash flow guidance to $210 million. Analysts have a consensus EPS estimate of $3.47 and a revenue estimate of $5.25 billion.

The company repurchased $250 million (5.6 million shares) in its common stock, exhausting an authorization approved in March of this year. Big Lots also paid a quarterly dividend of $0.21 per share for a total of $9 million.

In its press release Big Lots noted:

We ended the second quarter of fiscal 2016 with $58 million of Cash and Cash Equivalents and $258 million of borrowings under our credit facility compared to $57 million of Cash and Cash Equivalents and $223 million of borrowings under our credit facility as of the end of the second quarter of fiscal 2015. Cash flow (cash provided by operating activities less cash used in investing activities) was focused on reinvesting in the Company’s strategic initiatives to support long-term sustainable growth and returning cash to our shareholders through our share repurchase and dividend efforts.

Big Lots’ shares closed down 4.3% at $52.94 on Thursday, probably in sympathy with the weak performance from discounters Dollar General and Dollar Tree. In premarket trading Friday morning, shares of Big Lots traded up 0.2%, at $53.05 in a 52-week range of $33.78 to $56.30. The consensus 12-month price target on the stock was $53.73 before the results were announced.

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The post Big Lots Earnings Defy Downturn in Discount Stores’ Performance appeared first on 24/7 Wall St..

[cnxvideo id=”509259″ placement=”ros”]Stocks were digesting a serious curve ball after a very weak payrolls report, and that might have just delayed the expected rate hike timing. It remains up for debate whether the “sell in May and go away” mantra is appropriate for 2016. After all, investors have proven on just about every occasion in 2016 that they want to buy the big market dips.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new investing and trading ideas for our readers. Some analyst reports cover stocks to buy, and other reports feature stocks to sell or avoid.

These are the top analyst upgrades, downgrades and initiations seen on Friday morning:

Avon Products Inc. (NYSE: AVP) has found very few believers of late, but the stock was started as Buy with a $7 price target at Jefferies. Avon closed at $4.01 and was last seen up at $4.11 after this call. Avon’s consensus analyst price target was $4.82, and its 52-week trading range is $2.21 to $7.09. The $7 target from Jefferies now matches the current street-high analyst target.

Big Lots Inc. (NYSE: BIG) was started with an Outperform rating and was assigned a price target of $60 (versus a $52.35 prior close) at Oppenheimer. It has a consensus price target of $53.00 and a 52-week range of $33.78 to $53.05.

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Broadcom Ltd. (NASDAQ: AVGO) was last seen up over 7% at $167.00 after beating earnings Thursday evening. The stock was reiterated as Buy and the price target was raised to $190 from $180 at Jefferies. Merrill Lynch reiterated its Buy rating and raised the price objective to $210. Canaccord Genuity reiterated its Buy rating and raised its target to $200 from $185. Cowen reiterated its Outperform rating and raised its target to $200 from $190. Raymond James reiterated its Outperform rating and raised its price target to $180 from $160.

Deere & Co. (NYSE: DE) was raised to Buy from Neutral at Goldman Sachs, and the firm raised its price target to $105 from $87 (versus an $84.06 close). The consensus price target is $78.26, and the 52-week range is $70.16 to $98.23.

Dish Network Corp. (NASDAQ: DISH) was reiterated as Buy with a price target of $80 at Jefferies. Shares closed at $50.73, and the call comes after Jefferies attended analyst meetings with founder Charlie Ergen and Sling TV CEO Roger Lynch. The consensus price target is $72.10, and the 52-week range is $38.85 to $75.94.

Union Pacific Corp. (NYSE: UNP) was raised to Overweight from Equal Weight and the price target was lifted to $90 from $78 (versus an $84.61 close) at Morgan Stanley. The consensus analyst target is $90.81. The 52-week range is $67.06 to $102.85.

Yelp Inc. (NYSE: YELP) was started with a Buy rating and assigned a $41 price target (versus a $26.52 close) at Maxim Group. The consensus price target is $25.71, and the 52-week range is $14.53 to $48.50.

You can follow @JonOgg if you wish to get analyst upgrades and downgrades directly on your Twitter feed.

Other key analyst upgrades and downgrades from this Friday were seen in the following companies:

CF Industries Holdings Inc. (NYSE: CF) was started as Neutral with a $30 price target (versus a $27.98 close) at Goldman Sachs.

Conn’s Inc. (NASDAQ: CONN) was downgraded to Neutral from Overweight and the price target was slashed to $8.50 from $16.00 (versus a $6.63 close) at Piper Jaffray.

Dimension Therapeutics Inc. (NASDAQ: DMTX) was started with a Buy rating and assigned a $32 price target (versus an $8.45 close) at Cantor Fitzgerald. This was the second big call this week.

Endurance Specialty Holdings Ltd. (NYSE: ENH) was reiterated as Buy at Janney.

58.com Inc. (NYSE: WUBA) was started with a Buy rating and was assigned a $65 price target (versus a $53.50 close) at Brean Capital. Merrill Lynch reiterated its Neutral rating and $64 price objective.

GrubHub Inc. (NYSE: GRUB) was started with a Buy rating and assigned a $33 price target (versus a $27.73 close) at Maxim Group.

ICON PLC (NASDAQ: ICLR) was downgraded to Hold and the price target was cut to $78 from $80 (versus a $72.09 close) at Jefferies. The firm said that the second quarter looks to be a second low bookings and eighth low revenue quarter in a row.

Infinera Corp. (NASDAQ: INFN) was started with a Buy rating and assigned a $17 price target (versus a $13.36 close) at Nomura Securities.

JA Solar Holdings Co. Ltd. (NASDAQ: JASO) was downgraded to Neutral from Buy at Roth.

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NGL Energy Partners L.P. (NYSE: NGL) was raised to Buy from Hold with a price target of $18 (versus a $16.63 close) at Stifel. NGL is still listed as having a distribution yield equivalent of close to 10%.

Nu Skin Enterprises Inc. (NYSE: NUS) was started as Hold with a $41 price target (versus a $41.35 close) at Jefferies.

Rambus Inc. (NASDAQ: RMBS) was started with a Buy rating and assigned a $15 price target (versus a $12.15 close) at Wunderlich Securities.

Trina Solar Ltd. (NYSE: TSL) was downgraded to Neutral from Buy at Roth.

WebMD Health Corp. (NASDAQ: WBMD) was downgraded to Market Perform from Outperform at William Blair.

Werner Enterprises (NASDAQ: WERN) was started with a Hold rating and assigned price target of $28 (versus a $24.86 close) at Evercore ISI.

Thursday’s top analyst upgrades and downgrades included Deutsche Bank, Editas Medicine, EMC, Exxon Mobil, First Solar, Newmont Mining and over a dozen more.

The post Top Analyst Upgrades and Downgrades: Avon Products, Big Lots, Broadcom, Deere, Dish, Union Pacific, Yelp and More appeared first on 24/7 Wall St..

Big Lots Inc. (NYSE: BIG) reported its fiscal first-quarter financial results before the markets opened on Friday. The company posted $0.82 in earnings per share (EPS) on $1.31 billion in revenue. The Thomson Reuters consensus estimates called for $0.70 in EPS on revenue of $1.30 billion. In the same period of last year, it reported EPS of $0.60 and $1.28 billion in revenue.

Early in March, the board of directors approved a share repurchase program providing for the repurchase of up to $250 million of common shares. During the first quarter of fiscal 2016, the company invested $138 million to purchase 3.0 million shares, leaving it with roughly $112 million of authorization remaining at the end of the quarter.

In terms of guidance for the second quarter, the company expects EPS to be in the range of $0.42 to $0.47, as well as comparable sales to range from flattish to up 2%. The consensus estimates are $0.45 in EPS on $1.22 billion in revenue for the current quarter.

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On the books, Big Lots cash and cash equivalents totaled $64.39 million at the end of the quarter, compared to $67.19 million in the same period of last year. The company has a market cap of about $2.5 billion.

David Campisi, CEO and president of Big Lots, commented:

I’m very pleased with our first quarter results. Q1 comps increased for the 9th consecutive quarter and were at the high end of our guidance range. Jennifer continues to respond positively to our strategic focus on ownable and winnable merchandise categories, improved merchandise presentations and more consistent in-store execution.

Shares of Big Lots were trading up nearly 10% at $48.97 on Friday, with a consensus analyst price target of $49.31 and a 52-week trading range of $33.78 to $50.47.
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The post Big Lots Posts Solid Win on Earnings appeared first on 24/7 Wall St..

[cnxvideo id=”655240″ placement=”ros”]Despite the conventional “sell in May and go away” sentiment, lately investors have proven that they are looking for opportunities and will buy the big market dips. 24/7 Wall St. reviews dozens of analyst research reports each morning with the goal of finding new investing and trading ideas for our readers. Some analyst reports cover stocks to buy, and other reports feature stocks to sell or to avoid.

These are the top analyst upgrades, downgrades and initiations seen on Tuesday morning:

Archer Daniels Midland Co. (NYSE: ADM) was raised to Outperform from Market Perform with a price target of $48 (versus a $40.44 prior close) at BMO Capital Markets. ADM has a consensus analyst price target of $39.00 and a 52-week trading range of $29.86 to $53.31.

General Mills Inc. (NYSE: GIS) was downgraded to Sell from Neutral with a $58 price target (versus a $62.70 close) at Goldman Sachs. It has a consensus price target of $60.19 and a 52-week range of $47.50 to $65.49.

Home Depot Inc. (NYSE: HD) was started with a Buy rating and was given a $158 price target (versus a $131.42 close) at Topeka Capital. The consensus price target is $147.32, and the 52-week range is $92.17 to $137.82.
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Microsoft Corp. (NASDAQ: MSFT) was raised to Outperform from Market Perform at Cowen. Shares closed at $50.03, and the stock has a consensus analyst target of $57.72 and a 52-week range of $39.72 to $56.85.

Stratasys Ltd. (NASDAQ: SSYS) was started as Outperform and was assigned a price target of $29 (versus a $20.46 close) at FBR Capital Markets. The consensus price target is $24.46. The 52-week range is $14.48 to $39.45.

3D Systems Corp. (NYSE: DDD) was started as Market Perform with a $14.50 price target (versus a $12.31 close) at FBR Capital Markets. It has a consensus price target of $14.10 and a 52-week range of $6.00 to $22.62.

VMware Inc. (NYSE: VWM) was downgraded to Market Perform from Outperform with a $61 price target (versus a $59.46 close) at Cowen. The consensus price target is $61.85, and the 52-week range is $43.25 to $93.43.

Western Digital Corp. (NASDAQ: WDC) was maintained as Buy at Jefferies, but the price target was cut to $50 from $56 (versus a $40.46 close). Cowen raised its rating to Outperform from Market Perform with a $50 price target. The consensus analyst target is $59.27, and the 52-week range is $34.99 to $99.76.

You can follow @JonOgg if you wish to get analyst upgrades and downgrades directly on your Twitter feed.

Other key analyst upgrades and downgrades from this Tuesday were seen in the following companies:
Big Lots Inc. (NYSE: BIG) was started as Hold with a $42 price target (versus a $41.99 close) at Topeka Capital Markets.

Bed Bath & Beyond Inc. (NASDAQ: BBBY) was started with a Sell rating and was assigned a price target of $37 (versus a $42.52  close) at Topeka Capital Markets. It has a consensus price target of $47.95 and a 52-week range of $41.26 to $72.94.

Brookfield Asset Management Inc. (NYSE: BAM) was started with an Outperform rating and was assigned a $41 price target (versus a $34.00 close) at Keefe Bruyette & Woods.

Callon Petroleum Co. (NYSE: CPE) was started with an Outperform rating and was assigned a price target of $14 (versus a $11.15 close) at Credit Suisse.

Equity Residential (NYSE: EQR) was raised to Buy from Hold with a $74.50 price target (versus a $67.54 close) at BB&T Capital Markets.

Genesco Inc. (NYSE: GCO) was downgraded to Neutral from Overweight and the price target was cut to $61 from $70 (versus a $60.05 close) at Piper Jaffray.
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Johnson Controls Inc. (NYSE: JCI) was raised to Outperform from Neutral and the target price was raised to $50 from $45 (versus a $42.74 close) at Credit Suisse.

Lowe’s Companies Inc. (NYSE: LOW) was started with a Hold rating and $74 target price (versus a $78.87 close) at Topeka Capital Markets.

Pacific Ethanol Inc. (NASDAQ: PEIX) was started with a Buy rating and was assigned a whopping $11 price target (versus a $4.65 close) at Rodman & Renshaw.

Pier 1 Imports Inc. (NYSE: PIR) was started with a Buy rating and a $12 price target (versus a $5.48 close) at Topeka Capital Markets.

Red Rock Resorts Inc. (NASDAQ: RRR) saw its quiet period end on Monday with mostly positive coverage. Citigroup has initiated coverage of the stock with a Buy rating.

Sotherly Hotels Inc. (NASDAQ: SOHO) was started as Buy at Janney with a $6.50 fair value estimate.

United Therapeutics Corp. (NASDAQ: UTHR) was downgraded to Hold from Buy at Argus.

Williams-Sonoma Inc. (NYSE: WSM) was started with a Buy rating and was assigned a price target of $62 (versus a $50.13 close) at Topeka Capital Markets.

Monday’s top analyst upgrades and downgrades included Alcoa, Boston Scientific, Schlumberger, Sony, Staples and many more.

The post Top Analyst Upgrades and Downgrades: ADM, General Mills, Home Depot, Microsoft, 3D Systems, Western Digital and More appeared first on 24/7 Wall St..

[cnxvideo id=”655354″ placement=”ros”]Stocks were down marginally on Monday morning, but the reality is that the results are so low that no real direction can be determined. The Dow is now down 600 points from its April 21 high for 2016. Even with the notion of “sell in May and go away,” investors have proven that they are looking for opportunities and will buy the big market dips.

24/7 Wall St. reviews dozens of analyst research reports each morning. The goal is to find new investing and trading ideas for our readers. Some analyst reports cover stocks to buy, and other reports feature stocks to sell or to avoid.

These are the top analyst upgrades, downgrades and initiations seen on Monday morning:

Alcoa Inc. (NYSE: AA) was raised to Buy from Neutral and the price objective was raised to $11.00 from $10.50 (versus a $9.11 prior close) at Merrill Lynch. The firm sees better Alcoa results ahead from Firth Rixson ramping up and a pickup in jet engine demand. Alcoa has a consensus analyst price target of $10.86 and a 52-week trading range of $6.14 to $13.05.

Boston Scientific Corp. (NYSE: BSX) was downgraded to Neutral from Buy at BTIG. It has a consensus price target of $24.20 and a 52-week range of $14.18 to $23.01.
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Schlumberger Ltd. (NYSE: SLB) was added to the prized Conviction Buy list at Goldman Sachs, which sees some 29% upside, and it sees Schlumberger as best positioned in the oil patch of peers. The consensus price target is $87.74, and the 52-week range is $59.60 to $92.61.

Sony Corp. NYSE: SNE) was reiterated as Buy with a $38.26 price target (versus a $26.44 close) at Merrill Lynch. The firm said that Sony’s growth story based on games and music is unchanged. The consensus price target is $38.26, and the 52-week range is $19.90 to $31.88.

Staples Inc. (NASDAQ: SPLS) was raised to Buy from Underperform with a $10 price objective (versus an $8.10 close) at Merrill Lynch. The firm sees an attractive valuation after shares fell more than 20% in just two weeks. The consensus price target is $9.50, and the 52-week range is $8.00 to $16.74.

You can follow @JonOgg if you wish to get analyst upgrades and downgrades directly on your Twitter feed.

Other key analyst upgrades and downgrades were as follows:
Allegheny Technologies Inc. (NYSE: ATI) was raised to Buy from Neutral and the price objective was raised to $14 from $10 (versus an $11.23 close) at Merrill Lynch. The upgrade is ahead of its engine cycle inflection point and airframe build growth expected to drive better aero market volumes.

Big Lots Inc. (NYSE: BIG) was downgraded to Hold from Buy at Deutsche Bank, based on concerns about overtime work boosting its costs and due to increasing competition.

C.R. Bard Inc. (NYSE: BCR) was maintained as Buy with a $231 price objective (versus a $219.74 close) at Merrill Lynch. This was after an investor day showing that the Gore acquisition will add value within two years.

Integra LifeSciences Holdings Corp. (NASDAQ: IART) was reiterated as Buy at Argus, and the firm raised its price target to $90 from $80. The firm said that a premium valuation here is warranted based on Integra’s strong sales growth, steady flow of new products, and rising margins.

Neurocrine Biosciences Inc. (NASDAQ: NBIX) was reiterated as Buy and the price target was raised to $61 from $58 (versus a $47.89 close) at Jefferies. The firm said its survey suggests sizable TD market and valbenazine adoption.

PDC Energy Inc. (NASDAQ: PDCE) was downgraded to Market Perform from Outperform and the valuation range was trimmed to $60 to $65 from $65 to $70 in the call.
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Red Rock Resorts Inc. (NYSE: RRR) was started as Outperform and the valuation range was set at $21 to $24 at Wells Fargo. Merrill Lynch started it as Buy with a $24 price objective.

Twenty-First Century Fox Inc. (NASDAQ: FOXA) was reiterated as Outperform and the price target was raised to $40 from $37 at Credit Suisse. The firm also added the stock to the U.S. and Global Focus Lists (to replace Time Warner). The company is raising the Hulu valuation to $25 billion.

U.S. Silica Holdings Inc. (NYSE: SLCA) was raised to Outperform from Market Perform with a $33 price target (versus a $26.77 close) at RBC Capital Markets. The firm believes that the market is not factoring in the company’s earnings power ahead.

Friday’s top analyst upgrades and downgrades included Aflac, Applied Materials, Dick’s Sporting Goods, Gap, Noble, Teekay Tankers, Urban Outfitters and over a dozen more.

The post Top Analyst Upgrades and Downgrades: Alcoa, Boston Scientific, Schlumberger, Sony, Staples and Many More appeared first on 24/7 Wall St..

Stocks had been higher on Monday but were really just looking for direction on Monday morning. Friday’s 369-point gain barely made the week positive, but the trend that keeps emerging is that investors want to buy stocks on pullbacks. 24/7 Wall St. reviews dozens of analyst research reports each morning to find new investing and trading ideas for its readers. Some analyst reports cover stocks to buy, and other calls cover stocks to sell or avoid. These are this Monday’s top analyst upgrades, downgrades and initiations.

Abbott Laboratories (NYSE: ABT) was raised to Buy from Hold with a $55.00 price target at Jefferies. The stock has a consensus price target of $50.97 and a 52-week trading range of $39.00 to $51.74.

Bluebird Bio Inc. (NASDAQ: BLUE) was down after a data presentation was not as good as expected. Roth downgraded its rating to Neutral from Buy and cut the price target to $62 from $121. Other downgrades have been seen by Morgan Stanley (Equal Weight) and Bank of America Merrill Lynch (Neutral).

Chipotle Mexican Grill (NYSE: CMG) finally (but unsurprisingly) lowered guidance after its E. coli outbreak has hurt its trends. Now we have formal downgrades from Cowen and Guggenheim, and we have lower price targets from Barclays, Credit Suisse and RBC Capital Markets.

Eli Lilly and Co. (NYSE: LLY) was raised to Buy from Hold and the price target was raised to $99 from $85 (versus an $86.62 prior close) at Deutsche Bank. Eli Lilly has a consensus price target of $97.53 and a 52-week range of $68.31 to $92.85.

Ferrari N.V. (NYSE: RACE) was started as Overweight with a $56.00 price target (versus a $48.55 close) at Morgan Stanley. Ferrari has a consensus analyst price target of $53.31 and a post-IPO range of $44.65 to $60.97.

Wells Fargo & Co. (NYSE: WFC) was reiterated as Buy with a $59.00 price target (versus a $55.67 close) at Jefferies. Wells Fargo has a consensus analyst price target of $58.55 and a 52-week range of $47.75 to $58.77.
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Additional analyst upgrades and downgrades on Monday were seen in the following:

Akebia Therapeutics Inc. (NASDAQ: AKBA) was started as Buy with a $24 price target at HC Wainwright.

Ambarella Inc. (NASDAQ: AMBA) was maintained as Hold at Deutsche Bank, but the price target was cut to $60 from $70.

America Movil SAB de C.V. (NYSE: AMX) was started as Neutral at Credit Suisse.

ARM Holdings PLC (NASDAQ: ARMH) was downgraded to Market Perform from Outperform at Northland Securities.

BB&T Corp. (NYSE: BBT) was raised to Strong Buy from Outperform at Raymond James.

Big Lots Inc. (NYSE: BIG) ended up down 6% at $40.04 on Friday after missing earnings. Now on Monday we have seen Piper Jaffray cut the rating to Neutral from Overweight. Big Lots has a 52-week range of $38.15 to $51.11.

KBR Inc. (NYSE: KBR) was downgraded to Sell from Neutral with a $19 price target (versus a $19.45 close) at Goldman Sachs.

Motorola Solutions Inc. (NYSE: MSI) was started as Hold with a $68 price target (versus a $72.11 close) at Jefferies.

Norfolk Southern Corp. (NYSE: NSC) was raised to Equal Weight from Underweight and the price target was raised to $95 from $76 at Barclays.
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Polaris Industries Inc. (NYSE: PII) was downgraded to Neutral from Buy at UBS.

Sovran Self Storage Inc. (NYSE: SSS) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.

TEGNA Inc. (NYSE: TGNA) was reiterated as Buy and the price target was raised to $33 from $30 (versus a $28.18 close) at Argus.

Thompson Creek Metals Co. Inc. (NYSE: TC) was downgraded to Underperform from Sector Perform at RBC Capital Markets.

Tyson Foods Inc. (NYSE: TSN) was downgraded to Equal Weight from Overweight at Stephens.

In case you missed Friday’s top analyst upgrades and downgrades, they included Ambarella, GoPro, LinkedIn, Mattel, Marriott, Qualcomm, Symantec and over a dozen more.

The post Top Analyst Upgrades and Downgrades: Abbott Labs, Bluebird Bio, Chipotle, Eli Lilly, Ferrari, Wells Fargo and Many More appeared first on 24/7 Wall St..

Big Lots Inc. (NYSE: BIG) reported its fiscal third-quarter financial results before the market opened on Friday. The company had a net loss of $0.01 per share on $1.12 billion in revenue. That compares to Thomson Reuters consensus estimates that call for no earnings on $1.12 billion in revenue. The same period from the previous year had a net loss of $0.06 per share on $1.11 billion in revenue.

The board of directors declared a cash dividend of $0.19 per share, which totals $9.3 million. So far in the fiscal year, the company has returned $229 million to shareholders.

In terms of the guidance, Big Lots expects EPS in the range of $1.95 to $2.00 and comparable store sales increasing in the range of 1% to 2%. Consensus estimates call for $1.97 in EPS on $1.60 billion in revenue.

David Campisi, president and CEO of Big Lots, commented on earnings:

I’m pleased with the results we reported today as Jennifer continues to respond positively to our strategic improvements in merchandising, marketing, and in-store execution. For the seventh consecutive quarter, our sales comps were positive with notable strength in our ownable and winnable merchandise categories and we delivered upon our financial commitments. Our inventory levels were lean and on forecast to end Q3 and we are well-positioned by merchandise category for the all-important Q4 selling season.

At the end of the quarter, cash and equivalents totaled $62 million, about the same as in the year-ago quarter.

Shares of Big Lots were down 3% at $41.44 Friday morning, with a consensus analyst price target of $43.00 and a 52-week trading range of $38.15 to $51.11.
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The post Big Lots Rises After Meeting Earnings appeared first on 24/7 Wall St..

Big Lots Inc. (NYSE: BIG) reported its fiscal second-quarter financial results before the markets opened on Friday. The company had $0.40 in earnings per share (EPS) on $1.21 in revenue. That compared to consensus estimates from Thomson Reuters that call for $0.34 in EPS on revenue of $1.20 billion. In the same period of the previous year, the discount retailer posted EPS of $0.31 and $1.20 billion in revenue.

Comparable store sales increase of 2.8%, representing the sixth consecutive quarter of comp store sales growth.

The company gave guidance for the fiscal third quarter as a net loss of $0.04 to $0.01 per share. This guidance is based on an estimated comparable store sales increase in the 2% to 3% range, compared to a 1.4% comparable store sales increase in the third quarter of fiscal 2014. Operating profit improvement is expected to be driven by higher sales, a flat gross margin rate and a lower expense rate. Consensus estimates are $0.00 per share and $1.12 billion in revenue.

Previously the board of directors approved a share repurchase program up to $200 million in common stock. However, this was exhausted in the fiscal second quarter. Separately, the board approved a quarterly cash dividend of $0.19 per common share that will be payable on September 25 for shareholders on record as of the close of business on September 11.

David Campisi, CEO and president of Big Lots, commented on earnings:

I’m pleased with our second quarter results. Despite unseasonable weather conditions, Q2 comps increased 2.8% reflecting strength in our winnable and ownable categories and improved consistency in all aspects of our operations. Jennifer continues to respond positively to our strategic improvements in merchandising, marketing, and in-store execution resulting in our sixth consecutive quarter of comp sales growth. Healthy comp sales growth and consistent execution across the business enabled us to exceed earnings expectations for Q2.

On the books, cash and cash equivalents totaled $57.36 million, compared to $62.03 million at the end of the previous fiscal year.

Shares of Big Lots were up 14.7% at $48.20 late Friday morning. The stock has a consensus analyst price target of $54.83 and a 52-week trading range of $38.15 to $51.75.

ALSO READ: 5 Stocks Warren Buffett Likely Bought More of During the Sell-Off

The post Big Lots Rises on Solid Earnings Beat appeared first on 24/7 Wall St..

Stocks were indicated lower on Tuesday ahead of the FOMC meeting. Still, the market is within striking distance of all-time highs again, and investors have so far bought every single pullback for close to four years now. 24/7 Wall St. reviews dozens of research reports from analysts each day in order to get new trading and investment ideas for its readers. Some analyst reports cover stocks to buy, while others cover stocks to sell or avoid.

These are this Tuesday’s top analyst upgrades, downgrades and initiations.

Apple Inc. (NASDAQ: AAPL) beat earnings and delivered on a buyback and dividend boost. We have seen many analyst calls as follows:

• Oppenheimer reiterated its Outperform rating and $155 price target.
• Baird has an Outperform rating and raised its target to $155.
• RBC has an Outperform rating and raised its target to $150.
• Canaccord Genuity has a Buy rating and raised its target to $155.
• Credit Suisse reiterated its Outperform rating and $145 target.
• Bank of America Merrill Lynch maintained a Buy rating and moved its price objective to $145.

Melco Crown Entertainment Ltd. (NASDAQ: MPEL) was downgraded to Underweight from Equal Weight at Morgan Stanley.

Sirius XM Radio Inc. (NASDAQ: SIRI) has released earnings. The first call seen was from Merrill Lynch, reiterating its Buy rating and $5 price objective (versus a $3.95 close). The firm talked up Sirius XM’s fast growth, its more than 70% contribution margin, a sizable capital return capacity, roughly 80% EBITDA/Free Cash Flow conversion, rising new car penetration, large used car market potential and the connected car and Telematics opportunities.

ALSO READ: 3 Top MLPs Credit Suisse Recommends Now

Time Warner Inc. (NYSE: TWX) was started as Buy with a $103 price target (versus a $84.76 close) at CLSA.

Whiting Petroleum Corp. (NYSE: WLL) was raised to Buy from Neutral and the price target was raised to $44 from $34 (versus a $35.13 close) at SunTrust Robinson Humphrey.

The Merrill Lynch strategy team said the following:

Clients were buyers of US stocks as the S&P 500 climbed last week, led by institutional clients and corporate buybacks. ETFs saw the biggest inflows, while single stocks in the Consumer sectors saw the largest outflows. Clients have exhibited a renewed confidence in Financial stocks, with consistent inflows since the stress test results in March.

24/7 Wall St. has also covered more than a dozen other key analyst upgrades, downgrades and initiations, as follows:

Amkor Technology Inc. (NASDAQ: AMKR) was maintained as Buy at Topeka Capital Markets, but the price target was cut to $9 from $11 in the call. This is on the heels of a weak earnings report Monday afternoon that had shares down 8% at $7.30 on last look in early trading on Tuesday.

Barracuda Networks Inc. (NYSE: CUDA) was reiterated as Outperform and the price target was raised to $50 from $46 at BMO Capital Markets. Topeka Capital Markets reiterated its Buy rating and raised its target to $55 from $46.

Big Lots Inc. (NYSE: BIG) was started as Neutral with a $50 price target (versus a $46.65 close) at Sterne Agee.

Celladon Corp. (NASDAQ: CLDN) fell by 80% on Monday, down to $2.64 (versus a $13.68 prior close) after a massive disappointment in its drug study. Following other downgrades on Monday, H.C. Wainwright cut its rating to Neutral from Buy.

Coherent Inc. (NASDAQ: COHR) was downgraded to Neutral from Buy, but the price target was raised to $71.50 from $66.50 (versus a $64.75 close) at B. Riley.

Discovery Communications Inc. (NASDAQ: DISCA) was downgraded to Sell from an already cautious Neutral rating at UBS. The firm’s price target of $30.50 is against a $32.24 close. The firm CLSA started coverage as Underperform with a $36 price target as well.

ALSO READ: 8 Analyst Stock Picks Under $10 With Massive Upside Targets

E.I. du Pont de Nemours and Co. (NYSE: DD) was raised to outperform from Underperform at CLSA.

Egalet Corp. (NASDAQ: EGLT) was reiterated as Buy at Canaccord Genuity, but what stood out was the $25 price target (versus a $9.98 close). The firm thinks that positive intranasal abuse data for its abuse deterrent morphine in the second quarter should move shares higher.

Ericsson (NASDAQ: ERIC) was downgraded to Neutral from Buy, and the price target was cut to $12.50 from $15.50 (versus a $11.40 close) at Goldman Sachs.

FMC Corp. (NYSE: FMC) was started as Outperform with a $66 price target (versus a $58.85 close) at Credit Suisse.

Freeport-McMoRan Inc. (NYSE: FCX) was raised to Overweight from Equal Weight at Morgan Stanley.

IGATE Corp. (NASDAQ: IGTE) was downgraded to Sector Perform from Outperform at RBC Capital Markets.

MDC Partners Inc. (NASDAQ: MDCA) was downgraded to Neutral from Overweight at Piper Jaffray, downgraded to Market Perform from Outperform at BMO Capital Markets and was downgraded to Sector Perform from Outperform at RBC Capital Markets. Shares were indicated down close to 7% after earnings and maintaining its dividend.

Newmont Mining Corp. (NYSE: NEM) was raised to Neutral from Underperform with a $29 price target at Bank of America Merrill Lynch. This is after Sterne Agee and Credit Suisse had positive calls with larger upside targets on Monday.

ServiceSource International Inc. (NASDAQ: SREV) was raised to Market Outperform from Market Perform and was given a $7 price target (versus a $3.37 close) at JMP Securities.

Windstream Holdings Inc. (NASDAQ: WIN) was raised to Buy from Neutral and given a $10.50 price target (versus a $10.61 close) at Nomura.

ALSO READ: 7 Oil and Gas Stocks Analysts Want You to Buy Now

24/7 Wall St. also identified how analysts now are rating Amazon, Google and Microsoft after their earnings reports.

In case you missed out on Monday’s top analyst upgrades and downgrades, they included Apple, Celladon, Newmont Mining, 3D Systems, Twitter, Walt Disney and a more than a dozen additional companies.

The post Top Analyst Upgrades and Downgrades: Apple, Melco Crown, Sirius XM, Time Warner, Whiting, Windstream and More appeared first on 24/7 Wall St..

Big Lots Inc. (NYSE: BIG) posted third-quarter 2014 results before markets opened Friday. The discount retailer reported a diluted earnings per share (EPS) loss of $0.06 and $1.11 billion in revenues. In the same period a year ago, Big Lots reported an adjusted EPS loss of $0.07 on revenue of $1.11 billion. Third-quarter results also compare to the Thomson Reuters consensus estimates for an EPS loss of $0.05 and $1.12 billion in revenue.

Same-store sales in the United States rose 1.4% in the third quarter compared with the third quarter of 2013.

Big Lots reaffirmed its full-year EPS guidance of $2.40 to $2.50, compared with EPS of $2.45 in 2013. For the fourth quarter, the company raised the high end of its expected EPS range from $1.76 to $1.80. The bottom end of the range remained unchanged at $1.70.

Consensus estimates call for fourth quarter EPS of $1.78 on revenues of $1.6 billion and EPS of $2.49 on revenues of $5.19 billion for the full year. Big Lots expects same-store sales to rise in the low single-digit range for the fourth quarter and in the range of 1% to 2% for the full year.

Big Lots in August announced a share repurchase program of up to $125 million, of which the company spent $114.8 million in the third quarter to acquire 2.6 million shares (4.7%) of the company’s outstanding shares. Since the quarter’s end, the company has spent the remaining funds in its repurchase program and has repurchased a total of 2.8 million shares at an average price per share of $44.21.

The company’s shares have gained more than 48% since the beginning of the year, after dropping 20% in the fourth quarter of last year. A share buyback program announced in early March pushed the share price back to flat with the December 2013 level, and the initiation of a $0.17 per share dividend in the summer sealed the deal for investors.

Big Lots’ shares traded down about 0.9% at $47.52 in premarket trading Friday morning, in a 52-week range of $25.50 to $51.75. Thomson Reuters had a consensus analyst price target of around $52.20 before the results were announced.

ALSO READ: Will Sears Stock Price Drop to $0?

The post Big Lots Earnings Take Back Seat to Share Buybacks appeared first on 24/7 Wall St..

Stocks were indicated lower on Monday for a weak start to the final month of 2014. If investors have proven one thing over and over, it is that they will buy value or stocks that are discounted. 24/7 Wall St. reviews dozens of analyst research reports each morning of the week to find new investing and trading ideas for its readers. Some analyst reports are about stocks to buy, and some cover stocks to sell or avoid. These are this Monday’s top analyst upgrades, downgrades and initiations.

Alcoa Inc. (NYSE: AA) was raised to Buy from Neutral at Citigroup.

American Airlines Group Inc. (NASDAQ: AAL) was raised to Buy from Neutral at Bank of America Merrill Lynch.

American Water Works Co. (NYSE: AWK) was downgraded to Neutral from Outperform at Baird.

Bank of Montreal (NYSE: BMO) was downgraded to Neutral from Buy at Citigroup, just a day ahead of its earnings report.

Big Lots Inc. (NYSE: BIG) was downgraded to Neutral from Overweight at J.P. Morgan.

CONSOL Energy Inc. (NYSE: CNX) was downgraded to Neutral from Buy at Citigroup.

ALSO READ: The 20 Most Profitable Companies in the World

Deere & Co. (NYSE: DE) saw two key upgrades: to Market Perform from Underperform, and the valuation range was raised to $83 to $86 from $72 to $75, by Wells Fargo, and to Neutral from Underweight, with the price target raised to $90 from $83, at J.P. Morgan.

DreamWorks Animation SKG Inc. (NASDAQ: DWA) was downgraded to Underperform from Market Perform with a $14 price target at FBR Capital Markets.

Groupon Inc. (NASDAQ: GRPN) was raised to Buy from Neutral and the price target was raised to $9.50 from $8.00 based upon a sum of the parts analysis (versus a $7.53 close) at Merrill Lynch.

Monster Beverage Corp. (NASDAQ: MNST) was downgraded to Outperform, from being one of the firm’s Top Picks, at RBC Capital Markets.

Seadrill Ltd. (NYSE: SDRL) suspended its dividend last week and its stock fell from over $20 to less than $15 on the news. Now it was downgraded to Neutral from Buy at Guggenheim. Wells Fargo raised the rating to Market Perform from Underperform, but lowered its valuation range to $13 to $16 from $20 to $26.

Twenty-First Century Fox Inc. (NASDAQ: FOXA) was started with a Buy rating and a $43 price target (versus a $36.80 close) at Goldman Sachs.

Valeant Pharmaceuticals International Inc. (NYSE: VRX) was started as Buy with a $178 price target (versus a $145.45 close) at Goldman Sachs.

ALSO READ: 5 Top Analyst Stocks That Could Double in Price

Xcel Energy Inc. (NYSE: XEL) was downgraded to Neutral from Outperform at Baird.

Yahoo! Inc. (NASDAQ: YHOO) was started as Neutral at Credit Suisse.

YuMe Inc. (NYSE: YUME) was started as Equal Weight at Barclays.

The post Top Analyst Upgrades and Downgrades: Alcoa, CONSOL Energy, Deere, DreamWorks, Groupon, Seadrill, Yahoo and More appeared first on 24/7 Wall St..

Now that Carl Icahn has taken a large stake in Family Dollar Stores Inc. (NYSE: FDO), 24/7 Wall St. wanted to see what sort of value this might imply for activist investors and value investors alike.

It turns out that none of the stocks are dirt cheap by any measure. Still, the growth in this segment remains a secular opportunity for investors who fancy themselves as part value investor and part growth investor.

We have included book value ratios here, although the first thing we would say is that book value in a retailer is something that may not be as relevant as other industries. It is the value of the total franchise that really matters here, and that is something that will vary greatly from buyer to buyer.

Included are forward price-to-earnings (P/E) ratios from next year using the Thomson Reuters consensus estimates. The prices are based on the closing bell prices on Friday and will be updated in the morning to reflect the prices on Monday after the levels settle down.

This is the valuation of the top dollar store and discount retail outfits that we follow. There are other companies with overlapping interests, but the idea is to try to keep things as close to an apples-to-apples analysis.

Where this gets interesting is that the dividends for the dollar stores and the discounters are just not impressive. Actually, that should be from not impressive to not paid at all.

Dollar General Corp. (NYSE: DG) has a price-to-book value of 3.64 to 1, and its market cap is almost $18 billion. Its forward P/E is about 14.3. Dollar General’s shares closed at $57.99, and the 52-week price range is $49.47 to $62.93. With a consensus target price of $63.89 from Thomson Reuters, Dollar General has an implied upside exceeding 10%. Dollar General pays no dividend, but that may change soon now that the private equity backers have sold out.

ALSO READ: America’s Most Popular Stores

Family Dollar Stores Inc. (NYSE: FDO) posts a 4.29-to-1 price-to-book value. Its market cap is $6.89 billion, and its forward P/E is less than 18. Family Dollar shares closed at $60.53, and the 52-week trading range is $55.64 to $75.29. With a consensus target price of $56.89, Family Dollar is now trading above its consensus price target by almost 6%. Family Dollar has a dividend yield north of 2%. For whatever this is worth, Family Dollar also just adopted a shareholder rights program. For those who are not familiar with proxy fights and activist investing, this is a poison pill trigger. Its intention is to dilute acquirers’ interests.

Dollar Tree Inc. (NASDAQ: DLTR) comes with an 8.65-to-1 price-to-book value ratio, making it the highest of the dollar stores in valuation. Its market cap is $11.4 billion, and its forward PE is less than 15.5. Dollar Tree shares closed at $55.14, and the 52-week trading range is $48.30 to $60.19. With a consensus target price of $61.79, Dollar Tree has an implied upside of 12%. The company offers no dividend to its investors.

There are also the discount stores. These offer overstock merchandise and clearance merchandise that is higher in price (and generally in quality) than the dollar store offerings. These companies do all compete for much of the same dollars spent by value seeking consumers who look to maximize their dollars spent.

Big Lots Inc. (NYSE: BIG) is valued at 2.98 times book value. This one is not quite full-blown retail and not quite a dollar store. Its market cap is $2.49 billion, and its forward P/E is less than 15. Big Lots recently closed at $43.67, and the 52-week trading range is $25.50 to $44.48. With a consensus target price of $48.00, Big Lots has an implied upside of 9.9%. No dividend is paid to its investors.

Tuesday Morning Corp. (NASDAQ: TUES) comes with a 3.83-to-1 price-to-book ratio. Its market cap of only $800 million makes it the smallest of the dollar stores and discounters we are featuring by far. Its forward P/E is over 40, but this was with a handful of analysts and after a 2014 turnaround. Tuesday Morning closed at $18.51 on Friday, and the 52-week trading range is $8.84 to $18.87. With a consensus target price of $19.67, Tuesday Morning has an implied upside of about 6%. Tuesday morning does not pay a dividend for its shareholders, not even on Tuesdays.

TJX Companies Inc. (NYSE: TJX) comes with a very high price-to-book ratio of 9.2, the highest among its peers. TJX also has the broadest scope of all discounters and a huge market cap of $39.51 billion. Its forward P/E is less than 16. TJX’s shares closed at $56.42, and the 52-week trading range is $48.71 to $64.38. With a consensus target price of $64.84, the discounter has an implied upside of 14.9%. TJX does pay a dividend for its common shareholders, although it is low at only 1.2%.

ALSO READ: Ten Strategies to Invest Like Warren Buffett

What exactly it is that Icahn sees is hard to really interpret. This sector has reached a high valuation already. The notion that these pulled back from highs is one thing that anyone could complain about, but this evolution from dollar stores into low-priced stores is not universally taking place without pain.

Again, the dividends here in dollar stores and discounters are just not very attractive. That being said, each segment has its own merits for part of a secular trend. It just so happens that this most recent recession and lower average wages in America have forced a larger number of American consumers into being sharply conscious of their retail and consumer spending. Every dollar counts.

The post What Icahn Sees: Dollar Stores vs. Discounters appeared first on 24/7 Wall St..

Big Lots Inc. (NYSE: BIG) reported first-quarter 2014 results before markets opened Friday. The discount retailer reported diluted earnings per share (EPS) of $0.50 and $1.28 billion in revenues. In the same period a year ago, Big Lots reported adjusted EPS of $0.70 on revenue of $1.27 billion. First-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $0.44 and $1.26 billion in revenue.

Big Lots closed its Canadian stores in the first quarter and recorded a loss of $0.44 per share for discontinued operations. The company had estimated a loss of $0.64 to $0.71 from the closure and attributes the lower actual loss to a deferred tax benefit and favorable lease terminations.

Same-store sales in the United States rose 0.9% in the first quarter, compared with the first quarter of 2013, and in line with the company’s guidance.

Big Lots’ initial guidance for the second quarter estimates profit of $0.24 to $0.30 per share, compared with EPS of $0.37 in the second quarter a year ago. The current consensus estimate calls for EPS of $0.28 on revenues of $1.18 billion.

The company’s 2014 adjusted EPS guidance has been increased from a previous estimate of $2.25 to $2.45 to a new range of $2.35 to $2.45. Same-store sales are now forecast to rise in the range of 1% to 2%. Big Lots said it would open 30 new stores in the United States and close 50 during the year, generating positive cash flow of $165 million.

Big Lots in March announced a share repurchase program of up to $125 million, of which the company spent $82.5 million in the first quarter to acquire 2.2 million shares (3.8%) of the company’s outstanding shares. Since the quarter’s end, the company has spent the remaining funds in its repurchase program and has repurchased a total of 3.3 million shares.

The company’s shares jumped 20% after it reported fourth-quarter results back in March, and its overall share price appreciation since announcing its share buyback program is nearly 26%.

Big Lots shares were up about 6.3% at $39.86 in premarket trading Friday morning, just inside a 52-week range of $25.50 to $40.24. Thomson Reuters had a consensus analyst price target of around $42.60 before the results were announced.

ALSO READ: The States With the Strongest and Weakest Unions

The post Big Lots Takes Aim at New 52-Week High After Earnings appeared first on 24/7 Wall St..

By the end of last week, some 70% of retailers on the Retail Metrics Retail Earnings Index had reported first-quarter earnings, and the news has not been good. Retailers are missing expectations by an average of 3.2%, a figure that its 620 basis points below Retail Metrics’ long-term average of a surprise to the upside of 3%.

The unusually cold and wintry weather in February and March gets a good deal of the blame. But intense price competition and less discretionary income for lower- and middle-income consumers contributed to the slide as well.

For the 87 chains that have reported results so far, earnings are down 4.5%, or 4% excluding giant retailer Wal-Mart Stores Inc. (NYSE: WMT). Retail Metrics had forecast a total decline to 1.1%. Retailers’ revenues are up 3.1% on a reported basis and are projected to rise 3.2% on a blended basis.

Department stores are the worst performing subgroup. Sears Holdings Corp. (NASDAQ: SHLD) posted an earnings per share loss of $2.24, far worse than expected, and there is little reason to believe the company will ever turn around. According to Retail Metrics, the department store group’s first-quarter earnings are down 252%.

ALSO READ: America’s Most Popular Stores

Another poorly performing group is the teen retailers, down 118%. That is not good, but it is better than expected, primarily due to the not-as-awful-as-expected results from Aeropostale Inc. (NYSE: ARO). The company’s results were bad enough to drum 25% of the value out of the stock, but that was better than analysts thought it would be.

There are 15 retailers scheduled to release earnings next week, including Michael Kors Holdings Ltd. (NYSE: KORS), which reports results on Wednesday. Retail Metrics expects it to post EPS of $0.68 on revenues of $816.51 million. Same-store sales are projected to rise 20.1%.

Big Lots Inc. (NYSE: BIG) reports results next Friday, and Retail Metrics is looking for EPS of $0.44 on revenues of $1.27 billion. Same-store sales at the discounter are expected to decline by 0.3%.

ALSO READ: Nine Companies With the Most Unusual Origins

The post First-Quarter Retail Earnings Downright Awful So Far appeared first on 24/7 Wall St..

Stocks are again wanting to challenge new highs, yet investors remain anxious. They want upside from the bull market but do not want to buy the top or get stuck in the next sell-off. 24/7 Wall St. reviews dozens of analyst research reports each morning, with an eye for new ideas for our readers. Some reports cover stocks to buy, and some cover stocks to sell. These are this Monday’s top analyst upgrades, downgrades and initiations seen from Wall Street research firms.

Banco Santander S.A. (NYSE: SAN) was raised to Hold from Sell by Deutsche Bank.

Big Lots Inc. (NYSE: BIG) was raised to Buy from Hold at KeyBanc Capital Markets.

BlackBerry Ltd. (NASDAQ: BBRY) has lots of calls on Monday. The troubled smartphone maker was downgraded to Underperform from an already cautious Neutral at Credit Suisse, and the price target was cut to $6 from $7. Evercore Partners also downgraded BlackBerry, to Underweight from Equal Weight. Needham & Co. raised its rating to Hold from Underperform. Canaccord Genuity also raised its price target to $8 from $6.

Edison International (NYSE: EIX) was raised to Buy from Neutral at UBS.

Exact Sciences Corp. (NASDAQ: EXAS) fell on Friday despite a positive FDA recommendation of its Cologuard test. Barron’s wrote over the weekend that, despite some caution, this stock could rise close to 50% to $20 from a $12.86 closing price.

READ ALSO: Analysts’ Favorite Tech Stocks Trading Under $10

Finish Line Inc. (NASDAQ: FINL) was reiterated as Buy with a $32 price target at Canaccord Genuity. Sterne Agee maintained its Buy rating as well, with a $33 price target. Shares closed at $27.05 on Friday.

ING U.S. Inc. (NYSE: VOYA) was raised to Buy from Neutral and the price target was raised to $43 from $38 (and the price target was $35.49) by Goldman Sachs.

Lululemon Athletica Inc. (NASDAQ: LULU) found one friend for its turnaround efforts, as Wedbush Morgan raised the rating to Outperform from Neutral with the expectation that the bad news is likely priced into the stock.

MannKind Corp. (NASDAQ: MNKD) was down 7% on Friday due to FDA concerns about its inhalable insulin, and on Monday MannKind was downgraded to Underweight from Neutral at Piper Jaffray.

READ ALSO: Credit Suisse’s Top Contrarian Stocks to Buy

MercadoLibre Inc. (NASDAQ: MELI) was started with a Sell rating by Citigroup.

RenaissanceRe Holdings Ltd. (NYSE: RNR) was downgraded to Underperform from Neutral at Bank of America Merrill Lynch.

Vipshop Holdings Ltd. (NYSE: VIPS) was raised to Buy from Neutral with a $185 price target (versus a $138.00 close) at Goldman Sachs.

Barron’s wrote over the weekend about the case for $75 oil as the norm in five years. We disagree, and think that the baseline for oil looks more like $95.

The post Top Analyst Upgrades and Downgrades: BlackBerry, ING, Lululemon, MannKind, Vipshop and More appeared first on 24/7 Wall St..

Big Lots Inc. (NYSE: BIG) reported fourth-quarter and full-year 2013 results before markets opened Friday. For the quarter the discount retailer reported adjusted diluted earnings per share (EPS) of $1.45 and $1.57 billion in revenues. In the same period a year ago, Big Lots reported EPS of $2.08 on revenue of $1.7 billion. Fourth-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $1.40 and $1.61 billion in revenue.

For the full year, the company posted EPS of $2.45 on revenues of $5.3 billion, compared with EPS of $3.21 on revenues of $5.37 billion in 2012. Consensus estimates called for EPS of $2.40 on revenues of $5.29 billion.

The big news from Big Lots is that it plans to shut down its Canadian operations, where it now claims 73 Liquidation World stores, 5 Big Lots stores, two distribution centers and an office. The company expects operations to cease during the first quarter of 2014.

The company’s announcement offers an explanation of its decision to close its Canadian stores:

[W]e have not been able to gain the necessary traction in the Canadian marketplace that had originally been anticipated and believe that the significant further capital investments and execution risk associated with continuing to pursue a turnaround would not be in the best interests of our company and shareholders. … The strategic decision to exit Canada will enable us to focus our resources on introducing e-commerce and omnichannel capabilities, rolling out coolers and freezers to our chain of stores, launching a furniture financing program, significantly realigning our merchandising organization, and moving swiftly to implement our “edit to amplify” merchandising strategy. These bold steps forward all possess the singularly focused goal of strengthening the Big Lots brand and reinvigorating our U.S. business.

Same-store sales in the United States fell 3% in the fourth quarter, compared with sales in the comparable period last year.

Big Lots announced at the end of its third quarter that it would shut down its Canadian stores and expected a hit to quarterly earnings of $0.65 to $0.75 a share. The actual loss was $0.47 a share, which the company attributes to higher sell-through of merchandise at better margins, lower operating expenses and the timing of recognition of lease liability charges and certain asset write-downs.

The company’s 2014 adjusted EPS guidance is pegged at $2.25 to $2.45, with same-store sales estimated to be flat to up 2%. Big Lots said it would open 30 new stores in the United States and close 50 during the year, generating positive cash flow of $165 million.

For the first quarter of 2014, Big Lots estimates adjusted EPS of $0.40 to $0.45, short of the $0.50 consensus estimate. Same-store sales are forecast to be in a range of “slightly positive to slightly negative.” The company estimates its first-quarter loss related to the closing of its Canadian stores in the range of $0.64 to $0.71 per share.

The EPS beat and the lower costs associated with the closing of its Canadian stores has the stock making a big positive move in Friday’s premarket trading. Shares were up about 16%, at $33.95 in a 52-week range of $25.50 to $39.22. Thomson Reuters had a consensus analyst price target of around $34.10 before the results were announced.

The post Big Lots Soars on Earnings, Canadian Shutdown appeared first on 24/7 Wall St..

Big Lots Inc. (NYSE: BIG) reported third-quarter fiscal 2013 results after markets closed Thursday evening. The discount retailer posted an adjusted diluted earnings per share (EPS) loss of $0.16 and $1.15 billion in revenues. In the same period a year ago, Big Lots reported an EPS loss of $0.11 on revenue of $1.13 billion. Third-quarter results also compare to the Thomson Reuters consensus estimates for an EPS loss of $0.08 and $1.16 billion in revenue.

The big news from Big Lots is that it plans to shut down its Canadian operations, where it now claims 73 Liquidation World stores, five Big Lots stores, two distribution centers and an office. The company expects operations to cease during the first fiscal quarter of 2014.

The company’s announcement offers an explanation of its decision to close its Canadian stores:

[W]e have not been able to gain the necessary traction in the Canadian marketplace that had originally been anticipated and believe that the significant further capital investments and execution risk associated with continuing to pursue a turnaround would not be in the best interests of our company and shareholders. … The strategic decision to exit Canada will enable us to focus our resources on introducing e-commerce and omnichannel capabilities, rolling out coolers and freezers to our chain of stores, launching a furniture financing program, significantly realigning our merchandising organization, and moving swiftly to implement our “edit to amplify” merchandising strategy. These bold steps forward all possess the singularly focused goal of strengthening the Big Lots brand and reinvigorating our U.S. business.

Same-store sales fell 2.5% in the third quarter, compared with sales in the similar period of last year.

The company estimated an EPS loss of $0.65 to $0.75 related to closing down the Canadian operations and a full fiscal year loss of $0.90 to $0.98 a share. The company will begin reporting the Canadian stores as discontinued operations in the first quarter of 2014, and it expects that loss to be in the range of $0.75 to $0.80 a share.

Big Lots guided adjusted EPS from continuing U.S. operations of $1.40 to $1.55 for its fourth quarter ending in January, as well as $2.40 to $2.55 a share for the full fiscal year. These estimates are below previous guidance of $2.08 for the fourth quarter and $3.21 for the full year. The quarterly guidance assumes a same-store sales decline in the low to mid single digits and a total U.S. sales drop of 6% to 8%. The consensus estimates call for fourth-quarter EPS of $2.11 and full-year EPS of $2.94.

Shares of Big Lots lost 10% in after-hours trading Thursday, after closing at $37.13 in a 52-week range of $27.09 to $39.22. Thomson Reuters had a consensus analyst price target of around $38.50 before these results were announced.

The post Big Lots Stock Crushed on Canadian Store Closing appeared first on 24/7 Wall St..

The last, and largest, of the discount variety stores reports second quarter earnings tomorrow. Dollar General Corp. (NYSE: DG) is expected to post earnings per share (EPS) of $0.74 on revenues of $4.36 billion. That is an EPS improvement of 6.8% and a revenue increase of year-over-year more than 10% year-over-year.

Dollar General’s share price is up less than 6% in the past 12 months, but since the beginning of the year shares have risen more than 22%. And even then, Dollar General trails Dollar Tree Inc. (NASDAQ: DLTR) in share price growth since January 1. Dollar Tree stock is up 30%.

Big Lots Inc. (NYSE: BIG) reported earnings last Thursday night, turning in adjusted EPS of $0.31 on revenue of $1.23 billion, beating the consensus EPS estimate but slightly low on revenue. Big Lots lowered its full-year earnings and revenue guidance. Third-quarter guidance was lowered from an expected EPS loss of $0.01 to a loss of $0.05 to $0.13 and same-store sales to be flat to down 2% as the stores build inventory for the holiday season. Still, the stock price rose 2.25% on Friday.

Dollar Tree reported second-quarter earnings a week ahead of Big Lots, and the company’s stock price jumped about 2.5% after the store raised the low end of its outlook for full-year earnings and revenues.

Family Dollar Stores Inc. (NYSE: FDO) ended its fourth quarter and 2013 fiscal year on August 30 and will report results on September 30. Analysts expect quarterly EPS of $0.84 and full-year EPS of $3.78, up 12% over the fourth quarter a year ago and about 3.7% over last year’s fiscal year earnings. Family Dollar’s share price performance has been weaker than its peers, up just 12% year to date. The stock was downgraded by one analyst on valuation, and the company has said that discretionary purchases have been pressured.

Once these stocks were all considered to be growth plays, and to some extent they still are. But only Big Lots and Family Dollar have posted 12-month share price gains of more than 10%.

Over the past five years, Dollar Tree stock has risen more than 220%, while Dollar General and Family Dollar are up about 140%. Big Lots is up 39%, and at its peak in the past five years was up just 80%. In fact, Big Lots’ share-price growth over five years is only slightly better than the share-price growth for Wal-Mart Stores Inc. (NYSE: WMT). That is not the profile of a growth stock.

Growth spurts, not sustained growth of more than 10% a year, seems to be where share prices are headed in this group. When consumer sentiment is positive, these stores simply do less well — and consumer confidence has been rising slowly. Whether that rise in sentiment continues remains to be seen.

See also: America’s Fastest-Growing Retailers

The post Dollar General Earnings Due Tuesday; Dollar Stores’ Last Hurrah? appeared first on 24/7 Wall St..

August 30, 2013: U.S. markets opened slightly higher on Friday morning but soured almost immediately. Data on personal income and personal spending was mixed and the Chicago Fed PMI reading came out as expected. The consumer sentiment index pulled off last month’s six-year high and it was this the clinched the deal for a sell-off all around.

European markets closed lower today, while Asian and Latin American markets closed mixed.

Just a reminder that U.S. markets are closed Monday for the Labor Day holiday.

Tuesday’s calendar includes the following data releases and events (all times Eastern):

• 8:58 a.m. – PMI manufacturing index
• 10:00 a.m. – ISM manufacturing index
• 10:00 a.m. – Construction spending
• 11:30 a.m. – 3- and 6-month bill auctions

Here are the closing bell levels for Friday:

• S&P500 1,632.95 (-5.22; -0.32%)
• DJIA 14,810.31 (-30.64; -0.21%)
• NASDAQ 3,589.87 (-30.43; -0.84%)
• 10YR TNOTE 2.779% (-0.125%)
• Gold $1,396.10 (-16.80; -1.2%)
• Euro/Dollar: 1.3218 (-0.0023; -0.17%)

Big earnings movers: Salesforce.com Inc. (NYSE: CRM) is up 12.5% at $49.11 and posted a new 52-week high of $49.94 today. Krispy Kreme Doughnuts Inc. (NYSE: KKD) is down $15 at $19.74. Splunk Inc. (NASDAQ: SPLK) is up 12.8% at $55.18 after posting a new 52-week high of $55.83 earlier today. Big Lots Inc. (NYSE: BIG) is up 2.3% at $35.42. ReneSola Ltd. (NYSE: SOL) is up 8% at $4.75.

Stocks on the move: Apache Corp. (NYSE: APA) is up 8.9% at $85.66 after a $3.1 billion asset sale to Sinopec. OmniVision Technologies Inc. (NASDAQ: OVTI) is down 16.1% at $15.45 after warning on earnings due to lower sales of smartphones. E-Commerce China Dangdang Inc. (NYSE: DANG) is down 10.1% at $7.80 on a downgrade from JPMorgan.

In all, 18 stocks put up new 52-week highs today, while 39 stocks posted new lows.

The post Friday Closing Bell: Markets in Selling Mood on Syria, Low Pre-holiday Volume appeared first on 24/7 Wall St..

This will be an interesting week for Wall Street analyst coverage as many traders, investors and analysts are out ahead of Labor Day. Still, we are seeing a surprising number of research calls from analysts now that stocks have pulled back from their recent all-time highs. Some investors want to know if they should sell or avoid certain stocks, while others are looking for stocks to buy.

24/7 Wall St. reviews dozens of Wall Street analyst research reports each day to find new ideas for investors. Some picks are growth, some are value, some are stocks to buy and some are stocks to sell. These are Monday’s top analyst upgrades, downgrades and initiations seen from Wall Street.

Citigroup has initiated coverage in the 3D printing market positively on Monday: 3D Systems Corp. (NYSE: DDD) was started as Buy with a $60 price target and Stratasys Ltd. (NASDAQ: SSYS) was started as Buy with a $125 price target.

Deutsche Bank is making a change in its coverage of dollar store themes on Monday: Dollar Tree Inc. (NASDAQ: DLTR) was raised to Buy from Hold and Family Dollar Stores Inc. (NYSE: FDO) was downgraded to Hold from Buy, but the price target was raised to $74 from $70.

Amgen Inc. (NASDAQ: AMGN) was raised to Overweight from Neutral at Piper Jaffray.

Best Buy Co. Inc. (NYSE: BBY) was reiterated as Hold as shares are perceived to be fully valued at Argus.

Big Lots Inc. (NYSE: BIG) was raised to Neutral from Underweight at J.P. Morgan.

Darling International Inc. (NYSE: DAR) was raised to Buy from Hold and the price target was raised to $25 from $22 at Canaccord Genuity.

Hasbro Inc. (NASDAQ: HAS) was raised to Buy all the way from Sell by Citigroup.

Peabody Energy Corp. (NYSE: BTU) may not be a formal upgrade, but shares are up 3% after Barron’s covered it over the weekend, calling for it to potentially double off of its lows. One analyst was quoted as saying that it could rise to $30 or $35, as business already hit a bottom and is poised to recover.

ResMed Inc. (NYSE: RMD) was raised to Buy from Neutral at BofA/Merrill Lynch.

Tyson Foods Inc. (NYSE: TSN) was downgraded to Neutral rom Buy at BofA/Merrill Lynch.

We saw the analyst quiet period end for American Homes 4 Rent (NYSE: AMH) and we have seen some mixed coverage in the name: BofA/Merrill Lynch was at Neutral, Goldman Sachs was at Neutral, Wells Fargo was at Market Perform and J.P. Morgan was at Overweight.

Credit Suisse has identified solid earnings winners that refuse to use smoke and mirrors in their reporting. Also, after seeing the Amgen-Onyx deal, we want readers to revisit superior growth companies via the 10 companies expected to double revenues in the next two to four years.

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Coca-Cola Co. (NYSE: KO) and PepsiCo Inc. (NYSE: PEP) are the most respected brands in the United States. While Coke has enjoyed this status for six years straight, Pepsi moved up from being the sixth most respected brand in 2012.

24/7 Wall St. reviewed consultancy firm CoreBrand’s recent report on brand reputation. CoreBrand measured the familiarity and favorability of 1,000 companies. Familiarity is based on how widely known the companies are, and favorability is based on how well people think of these companies. The report identified the top 100 brands for familiarity with the lowest favorability scores. Companies such as Delta, Philip Morris and H&R Block are widely known yet not favorably viewed. These are the least respected companies in America.

Click here to see the least respected companies

To earn a high level of respect, explained CoreBrand CEO Jim Gregory, “consistency over time is probably the most important thing.” Not surprisingly, many of the most highly regarded companies, including PepsiCo, Coca-Cola, Hershey and Harley Davidson, have made products that are easily identified with the parent company. They also have done well financially, have had few problems with management, and rarely have had problems with product or service quality.

The companies with the worst levels of respect, on the other hand, have failed to maintain a strong brand image relative to their wide recognition. This could be because of a perception that the company is badly managed or that its relationship with customers has been damaged because of management’s mistakes. Best Buy went through a cycle of declining sales and executive turnover, the latter of which played out very visibly in the press. As Gregory explained, “A company can address one big issue, and it usually doesn’t cause a lot of damage to a company.” But, he added, “when you have one thing after another [go wrong] over a long period of time, it does cause damage to the brand.”

Turmoil within the organization is one of the biggest factors working against many of the least respected brands. J.C. Penney, for example, which ranked as the fourth-least respected company, has recently fired its relatively new CEO, Ron Johnson, who made several strategic changes during his tenure, and placed former CEO Mike Ullman back in charge. Ullman changed the business model — again. “For J.C. Penney, just about the time that their rebranding effort was beginning to make some headway, ‘boom’ they go through a changed management and then have another change,” Gregory noted. He added that the people surveyed for this report typically did not appreciate companies that “go through multiple strategic changes in a short amount of time.”

While nearly all the least respected brands have dealt with short-term PR and management issues, another reason many are not respected can simply be because of the industries they are in. For example, Delta’s brand respect is not terrible, but relative to its size it is poor. The company’s bad ranking is in part the result of its restructuring after its messy merger with NorthWest in 2008. It is also, Gregory noted, “somewhat endemic of the industry. The airline industry is not a very strong industry in terms of favorability.” Similarly, Philip Morris is in the generally unfavorably viewed tobacco industry.

CoreBrand’s new report, “Brand Respect: The Most and Least Respected Corporate Brands,” is based on a review of the country’s largest companies pulled from a poll of U.S. executives at 1,000 companies. In order to identify the least respected brands, the report identified the top 100 brands for familiarity with the lowest favorability scores. Both scores range from one to 100.

These are the least respected companies in America.

10. Foot Locker
> Favorability score: 62
> Familiarity score: 82
> Industry: Athletic wear

Foot Locker Inc. (NYSE: FL) has been restructuring since hitting bottom in 2008, when the stock price was as low as $5.49. The stock is now trading well above $30 per share, and the company has performed well financially. It is possible that the company was just lost in athletic footwear companies crowd and is finally finding its way out. Foot Locker’s familiarity scores are rising, according to CoreBrand. A recent ad campaign featuring NBA players James Harden and Stephen Curry has helped boost visibility online. The company has also been improving its reputation, according to CoreBrand. According to CoreBrand CEO Jim Gregory, the reason the company still makes the list is that as fast as the company’s favorability has grown, so has its familiarity. Gregory believes it unlikely the company would make it on the list of least respected brands list next year.

Also Read: The 10 Largest Employers in America

9. Rite Aid
> Favorability score: 61
> Familiarity score: 85
> Industry: Drugstore

Rite Aid Corp. (NYSE: RAD) is the country’s third-largest drugstore chain by sales. In recent years, in addition to its larger traditional competitors, Rite Aid found formidable adversaries in even bigger chains Walmart and Target. The company was caught in an accounting fraud scandal in the late 1990s that lasted through the early 2000s and ended with former CEO Martin Grass receiving an eight-year prison sentence. The company is also in an industry that tends to have lower customer satisfaction, according to the American Customer Satisfaction Index.

8. Capital One
> Favorability score: 61
> Familiarity score: 84
> Industry: Credit card

In July of last year, Capital One Financial Corp. (NYSE: COF) achieved the dubious distinction of being the first company to feel the wrath of the then-new Consumer Financial Protection Bureau (CFPB). It settled charges of misleading customers into paying for unnecessary services by paying a total of $210 million in reimbursements and fines. While the company has produced some very entertaining advertising to help promote its image, it contends with being part of a sector that suffers from essentially undifferentiated offerings, Gregory noted. The bank’s $9 billion acquisition of a portion ING’s U.S. business raised concerns about the creation of another “too big to fail” institution before it was approved in early 2012.

7. J.C. Penney
> Favorability score: 61
> Familiarity score: 94
> Industry: Retail

J.C. Penney Co. Inc. (NYSE: JCP) has done about as much as it can do to alienate its customers. When it hired highly regarded Apple (NASDAQ: AAPL) executive Ron Johnson from Apple as its new CEO, the company had decided to overhaul its business model, notably abolishing its coupons program. Johnson’s strategy resulted in massive losses, leading to his ouster just under two years later and the return of company’s former CEO, Mike Ullman. The best measure of the company’s downfall is the shocking drop in its sales. Same-store sales were down 25% in 2012, and this trend of declining sales hasn’t let up since Ullman’s return.

6. Best Buy
> Favorability score: 58
> Familiarity score: 86
> Industry: Retail

Like other consumer electronics stores, Best Buy Co. Inc. (NYSE: BBY) continues to be battered by one retailer in particular: Amazon.com Inc. (NASDAQ: AMZN). Widely referred to as Amazon’s Showroom, Best Buy is being undercut by the e-retailer’s lower prices while being burdened by the huge costs associated with running big stores. Making matters worse, former CEO Brian Dunn was embroiled in a sexual harassment scandal in 2012. Both Dunn and Chairman Richard Schulze were forced to resign after it became clear that both hid the affair from the board. A failed takeover bid by Schulze consumed management’s attention for several months at the end of last year.

5. Big Lots
> Favorability score: 54
> Familiarity score: 82
> Industry: Retail

In general, discount stores’ favorability ratings follow the overall economy. Hard times hit low-income customers hardest, and that is where Big Lots Inc.’s (NYSE: BIG) customers come from. In fact, Big Lots’ favorability score, which was lowest during the bottom of the recession, has recovered somewhat, according to CoreBrand. The protracted economic hardship may have directly affected Big Lots’ appeal, especially if the company’s prices were not low enough for cash-strapped consumers. However, an insider trading scandal reported late last year did not appear to damage Big Lots’ stock price very much — or for very long. In fact, despite the charges, shares of Big Lots have risen 14% this year.

Also Read: The Worst States to Be Unemployed

4. Denny’s
> Favorability score: 54
> Familiarity score: 81
> Industry: Restaurant

Denny’s Corp. (NASDAQ: DENN) is a well-known name in the family restaurant business, but the company has a long history of alienating its customers. In the early 1990s the company settled charges of racial bias at some of its California stores. Since then, the chain has never really been able completely to overcome the fallout. Fortune named the company one of the best employers for minorities in 2004, but even that did not wipe away the earlier blots against the restaurant chain. One of Denny’s largest franchisees pressed CEO John Miller to add 5% to menu items to cover Obamacare expenses. The same franchisee suggested the customers could cover the higher price by cutting tips. Some customers boycotted the food chain and this hurt sales.

3. H&R Block
> Favorability score: 51
> Familiarity score: 90
> Industry: Tax preparation

H&R Block Inc.’s (NYSE: HRB) biggest problem is likely the result of the business it’s in: tax return preparation. Worse, the company does not do much to help its reputation. H&R Block has been involved in several small scandals related to privacy and deceptive practices. Also, earlier this year, it was one of several firms that missed a change in IRS filing rules that resulted in delays in tax refunds to 600,000 customers. While H&R Block is never likely to win a popularity contest, it could do a much better job of creating a more positive image for itself.

2. Philip Morris
> Favorability score: 49
> Familiarity score: 80
> Industry: Tobacco

The tobacco industry has suffered from an image problem for decades. The negative perception reached its peak in the 1990s, when courts agreed that the companies had hid the harmful of effects of tobacco from smokers. Philip Morris tried to sanitize its image with acquisitions of unrelated businesses such as Kraft and Miller Brewing. The companies were later spun-off or sold. The tobacco company, then called Altria (NYSE: MO), split its U.S. and international divisions. The Philip Morris brand was used for the new international company, and the U.S. operations stayed with Altria. Most Americans are not familiar with Altria. However, Philip Morris International Inc. (NYSE: PM) continues to have a poor reputation because it is still associated with the tobacco industry. Tobacco companies may gain respect from investors by paying handsome dividends. Among the public at large, however, they are viewed far less favorably. This has likely Hurt Philip Morris’s overall respectability, according to Gregory.

Also Read: Famous Products Invented for the Military

1. Delta
> Favorability score: 47
> Familiarity score: 92
> Industry: Airline

That an airlines is less respected than a tobacco company is almost unbelievable. But Delta Air Lines Inc. (NYSE: DAL), like most other air carriers, is unpopular with many Americans. Airlines receive extremely poor customer satisfaction grades due to increased delays and new charges for baggage and meals. Delta’s 2008 acquisition of Northwest Airlines has made things particularly bad for passengers. The creation of the new company has caused a nearly endless stream of ticketing and scheduling problems that have taken years to iron out. While airfares have declined by nearly 15% in inflation-adjusted dollars since 1995, they have risen from $300 to roughly $375 since the bottom of the recession.

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U.S. equity markets opened higher this morning and trickled lower most of the day as there was little news to follow generally good data from around the globe. In Japan, the central bank held interest rates and asset purchases at previous levels. In Europe, the Bank of England and the European Central Bank also left rates unchanged (more coverage here). French unemployment was higher than expected, as was France’s trade deficit. In the U.S., fourth quarter productivity was reported down and unit labor costs were higher. The new claims for jobless benefits fell, but the army of the unemployed grew (more coverage here). Tomorrow’s reports on non-farm payrolls and the U.S. unemployment rate are expected to show 171,00 more jobs and a drop in the unemployment rate from 7.9% to 7.8%

The U.S. dollar index fell 0.45% today, now at 82.089. The GSCI commodity index is down 0.7% at 641.74, with commodities prices mostly higher today. WTI crude oil closed up 1.3% today, at $91.56 a barrel. Brent crude trades up 0.4% at $111.10 a barrel. Natural gas is up 3.3% today at about $3.58 per million BTUs after a larger-than-expected drawdown on stocks (more coverage here). Gold settled up fractionally today at $1,575.10 an ounce.

The unofficial closing bells put the DJIA up more than 33 points to 14,329.57 (0.23%), the NASDAQ rose nearly 10 points (0.30%) to 3,232.09, and the S&P 500 rose 0.18% or nearly 3 points to 1,544.28.

There were a several analyst upgrades and downgrades today, including SAP AG (NYSE: SAP) raised to ‘overweight’ at HSBC; Clean Harbors Inc. (NYSE: CLH) raised to ‘outperform’ at Baird; Angie’s List Inc. (NASDAQ: ANGI) started as ‘overweight’ at Piper Jaffray; SandRidge Energy Inc. (NYSE: SD) cut to ‘underperform’ at BMO; and Big Lots Inc. (NYSE: BIG) raised to ‘hold’ at Deutsche Bank, cut to ‘hold’ at Canaccord Genuity, and cut to ‘underperform’ at Raymond James.

Earnings reports since markets closed last night resulted in several price moves today, including these: Alon USA Energy Inc. (NYSE: ALJ) is down 4% at $19.00; PetSmart Inc. (NASDAQ: PETM) is down 6.6% at $62.17; Vail Resorts Inc. (NYSE: MTN) is up 7.4% at $60.87 after posting a new 52-week high of $61.83 earlier today; Ciena Corp. (NASDAQ: CIEN) is up 18.3% at $17.67; E Commerce China Dangdang Inc. (NASDAQ: DANG) is down 5.7% at $3.94; James River Coal Co. (NASDAQ: JRCC) is down 6.7% at $2.38; Kroger Co. (NYSE: KR) is up 3.3% at $30.34 after posting a new 52-week high of $30.62 earlier today (more coverage here); and Smithfield Foods Inc. (NYSE: SFD) is up 9.6% at $24.43 after posting a new 52-week high of $25.03 earlier today (more coverage here).

Before markets open tomorrow morning we are scheduled to hear from Finisar Corp. (NASDAQ: FNSR), H & R Block Inc. (NYSE: HRB), Pandora Media Inc. (NYSE: P), Workday Inc. (NYSE: WDAY), Ann Inc. (NYSE: ANN), and Foot Locker Inc. (NYSE: FL).

Some standouts among high-volume stocks today include:

Advanced Micro Devices (NYSE: AMD) is up 4.1% at $2.53. This chipmaker had no news today, but the enthusiasm over the company’s inclusion in the coming PlayStation 4 continues.

Petroleo Brasileiro SA (NYSE: PBR) is up 5.1% at $17.53. The Brazilian oil & gas firm pushed higher for the second day in a row following the announcement of its hike to diesel fuel prices.

Facebook Inc. (NASDAQ: FB) is up 4.2% at $28.61. The social network company announced a new look for its news feed today, making room for more ads and pushing stock prices up.

Stay tuned for Friday. Fed Governor Elizabeth Duke is giving a speech. We have also noted the following events on the schedule (all times Eastern):

• 8:30 a.m. – Employment: non-farm payroll, unemployment rate
• 10:00 a.m. – Wholesale trade

The post 24/7 Wall St. Closing Bell — March 7, 2013: Markets Open Higher, Chop to Higher Close (SAP, CLH, ANGI, SD, BIG, ALJ, PETM, MTN, CIEN, DANG, JRCC, KR, SFD, FNSR, HRB, P, WDAY, ANN, FL, AMD, PBR, FB) appeared first on 24/7 Wall St..

24/7 Wall St. is tracking several key analyst calls this morning.

Big Lots Inc. (NYSE: BIG) has seen mixed calls this morning. The discount retailer was raised to Hold from Sell at Deutsche Bank, cut to Hold at Canaccord Genuity and cut to Underperform at Raymond James.

DaVita HealthCare Partners Inc. (NYSE: DVA) is a Buffett stock that keeps growing in size for the conglomerate, but it was cut to Hold from Buy based on valuation at Deutsche Bank. Shares are indicated down 1%, but this is up about 10% so far in 2013.

Logitech International S.A. (NASDAQ: LOGI) was named Bear of the Day as smartphones are eating up its peripheral sales, according to Zacks Investment Research.

SandRidge Energy Inc. (NYSE: SD) was cut to Underperform from Market Perform by the team at BMO Capital Markets, and shares are indicated down about 6% at $5.38 in active early trading.

SAP A.G. (NYSE: SAP) was raised to Overweight from Neutral at HSBC, shares are up almost 1% for its New York ADRs, and shares were up 0.8% in local trading in Europe.

-Jon C. Ogg

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These are some of this Thursday’s top analyst upgrades, downgrades and initiations seen from Wall St. research calls.

American Water Works Co. Inc. (NYSE: AWK) cut to Neutral at Citigroup.

Angie’s List Inc. (NASDAQ: ANGI) started as Overweight at Piper Jaffray.

Big Lots Inc. (NYSE: BIG) raised to Hold from Sell at Deutsche Bank, cut to Hold at Canaccord Genuity and cut to Underperform at Raymond James.

Clean Harbors Inc. (NYSE: CLH) raised to Outperform at Baird.

DaVita HealthCare Partners Inc. (NYSE: DVA) cut to Hold at Deutsche Bank.

Hertz Global Holdings Inc. (NYSE: HTZ) named Bull of the Day at Zacks Investment Research.

Logitech International S.A. (NASDAQ: LOGI) named Bear of the Day as smartphones are eating up its peripheral sales, according to Zacks Investment Research.

Mellanox Technologies Ltd. (NASDAQ: MLNX) raised to Outperform at JMP Securities.

MEMC Electronic Materials Inc. (NYSE: WFR) raised to Buy at Goldman Sachs (full note).

Nanometrics Inc. (NASDAQ: NANO) started as Buy with $20 target at Canaccord Genuity.

New York Community Bancorp Inc. (NYSE: NYCB) raised to Outperform at KBW.

SAP A.G. (NYSE: SAP) raised to Overweight at HSBC.

SandRidge Energy Inc. (NYSE: SD) cut to Underperform at BMO.

UBS sees enterprise storage changing the landscape of traditional drives and storage ahead.

Here are 11 stocks which analysts expect to rise 50% to 100% (or more) over the next year.

The post Top Analyst Upgrades and Downgrades (AWK, ANGI, BIG, CLH, DVA, HTZ, LOGI, MLNX, WFR, NANO, NYCB, SAP, SD) appeared first on 24/7 Wall St..

U.S. equity markets opened higher this morning but struggled to maintain even a flat performance compared to yesterday’s close. Before the markets opened this morning, the Mortgage Bankers Association noted a 14.8% rise in applications (more coverage here) and the ADP employment report came in better than expected (more coverage here). In Asia, the deputy governor of the country’s central bank suggested that a new repurchase operation may be enacted to drain liquidity from the system. In Europe, preliminary results for the fourth quarter indicated that eurozone GDP contracted by 0.6%, as expected (more coverage here). The afternoon release of the Fed’s Beige Book did not move markets much, as most Fed districts continue to report “modest to moderate” growth.

The U.S. dollar index rose 0.45% today, now at 82.461. The GSCI commodity index is up 0.9% at 645.94, with commodities prices mostly lower today. WTI crude oil closed down 0.4% today, at $90.43 a barrel following a larger than expected expansion of inventories (more coverage here). Brent crude trades down 0.6% at $110.99 a barrel. Natural gas is down 1.5% today at about $3.48 per million BTUs. Gold settled flat today at $1,574.90 an ounce.

The unofficial closing bells put the DJIA up nearly 43 points to 14,296.39 (0.30%), the NASDAQ fell about 2 points (-0.05%) to 3,222.37, and the S&P 500 rose 0.11% or nearly 2 points to 1,541.47.

There were a several analyst upgrades and downgrades today, including J.C. Penney Co. Inc. (NYSE: JCP) cut to ‘neutral’ at Citigroup and cut to ‘perform’ at Oppenheimer; IntercontinentalExchange Inc. (NYSE: ICE) raised to ‘outperform’ at KBW; Best Buy Co. Inc. (NYSE: BBY) raised to ‘buy’ at Jefferies; Qualcomm Corp. (NASDAQ: QCOM) maintained as ‘buy’ but removed from the Conviction Buy List at Goldman Sachs; and Vivus Inc. (NASDAQ: VVUS) started as ‘overweight’ at Piper Jaffray.

Earnings reports since markets closed last night resulted in several price moves today, including these: Gevo Inc. (NASDAQ: GEVO) is up 7% at $1.99; Qihoo 360 Technology Co. Ltd. (NYSE: QIHU) is down 7.8% at $32.09; Smith & Wesson Holding Corp. (NASDAQ: SWHC) is up 5% at $9.71 (more coverage here); Verifone Systems Inc. (NYSE: PAY) is up 7.9% at $20.77; American Eagle Outfitters Inc. (NYSE: AEO) is down 10.7% at $20.13; Big Lots Inc. (NYSE: BIG) is up 6.1% at $35.96 (more coverage here); Fresh Market Inc. (NASDAQ: TFM) is down 8.8% at $38.79 after posting a new 52-week low of $36.51 earlier today; Hovnanian Enterprises Inc. (NYSE: HOV) is down 3.9% at $5.86; Staples Inc. (NASDAQ: SPLS) is down 8.7% at $12.13 (more coverage here); and Suntech Power Holdings Co. Ltd. (NYSE: STP) is down 1.7% at $1.19 (more solar coverage here).

Before markets open tomorrow morning we are scheduled to hear from Alon USA Energy Inc. (NYSE: ALJ), PetSmart Inc. (NASDAQ: PETM), Vail Resorts Inc. (NYSE: MTN), Ciena Corp. (NASDAQ: CIEN), E Commerce China Dangdang Inc. (NASDAQ: DANG), James River Coal Co. (NASDAQ: JRCC), Kroger Co. (NYSE: KR), and Smithfield Foods Inc. (NYSE: SFD).

Some standouts from today include the following stocks:

MGIC Investment Corp. (NYSE: MTG) is up 3.6% at $5.53 after posting a new 52-week high of $6.19 earlier today. This marks the third consecutive day the insurance company continues to find favor with investors.

Petroleo Brasileiro SA (NYSE: PBR) is up 14.8% at $16.63. The Brazilian oil & gas firm known as Petrobras was allowed to raise its price for diesel fuel by 5% today.

BlackBerry (NASDAQ: BBRY) is up 7.3% at $13.50. The mobile smartphone maker continues to get some love from analysts after its U.K. launch and a week ahead of its launch in the U.S.

Stay tuned for Thursday. Fed Governor Jerome Powell is giving a speech. Retail stores will be reporting February same-store sales throughout the day. We have also noted the following events on the schedule (all times Eastern):

• 7:30 a.m. – Challenger job-cut report
• 8:30 a.m. – New claims for unemployment benefits
• 8:30 a.m. – International trade
• 8:30 a.m. – Productivity and costs
• 10:00 a.m. – Quarterly services survey
• 10:30 a.m. – EIA weekly natural gas storage report
• 3:00 p.m. – Consumer credit
• 4:30 p.m. – Fed balance sheet and money supply

The post 24/7 Wall St. Closing Bell — March 6, 2013: Markets Open Higher, Closed Mixed (JCP, ICE, BBY, QCOM, VVUS, GEVO, QIHU, SWHU, PAY, AEO, BIG, TFM, HOV, SPLS, STP, PETS, MTN, CIEN, DANG, JRCC, KR, SFD, MTG, PBR, BBRY) appeared first on 24/7 Wall St..

Big Lots Inc. (NYSE: BIG) reported fourth-quarter and full-year 2012 results before markets opened this morning.

The close-out retailer reported quarterly diluted earnings per share (EPS) of $2.08 on revenues of $1.7 billion. In the same period a year ago, Big Lots reported EPS of $1.83 on revenue of $1.63 billion. Fourth-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $1.98 and $1.75 billion in revenue.

For the full fiscal year, Big Lots posted adjusted EPS of $2.99 on revenues of $5.4 billion. The consensus estimates called for EPS of $2.90 on revenues of $5.4 billion.

For the new fiscal year, the company forecasts adjusted EPS of $3.05 to $3.25 on a sales increase of 2% to 3%. For the first quarter Big Lots expects adjusted EPS of $0.53 to $0.65 on revenue growth of 1% to 3% year-over-year. The consensus estimate for the full year calls for EPS of $3.16 on revenues of $5.56 billion. For the first quarter, the consensus estimate calls for EPS of $0.75 on revenues of $1.33 billion.

In the fourth quarter, U.S. same-store sales fell 3.5%. The company’s Canadian division only broke even in the quarter, which was still better than the $11.4 million loss the division posted in the third quarter.

Big Lots, unlike competitors Family Dollar Stores Inc. (NYSE: FDO) or Dollar Tree Inc. (NASDAQ: DLTR), depends on traffic to make sales. Declining same-store sales are not a good sign, but today’s results will give the stock a temporary boost. Eventually investors will notice that first quarter guidance is well below the consensus estimate.

Shares are up 3.7% in premarket trading this morning, at $35.15, in a 52-week range of $26.69 to $47.22. Thomson Reuters had a consensus analyst price target of around $34.40 before today’s results were announced.

The post Results Good at Big Lots; Forecast Not So Good appeared first on 24/7 Wall St..

U.S. equity markets opened higher this morning and it didn’t take long for the DJIA to blow past its all-time intra-day high of 14,198.10 (more coverage here). There was a little news and data to give the markets a push as well. In Asia, China’s ruling body reiterated its GDP growth target of 7.5% and its inflation target to 3.5% (more coverage here). The country’s finance ministry said it is planning for a budget deficit of 2% of GDP in 2013 and expects to double spending on the Chinese military. In Europe, services PMI readings were mixed but better and retail sales rose more than expected. U.S. services PMI also rose slightly in February.

The U.S. dollar index fell 0.13% today, now at 82.092. The GSCI commodity index is down 0.4% at 640.41, with commodities prices mostly higher again today. WTI crude oil closed up 0.8% today, at $90.82 a barrel. Brent crude trades up 1.5% at $111.69 a barrel. Natural gas is down 0.4% today at about $3.52 per million BTUs. Gold settled up 0.2% today at $1,574.90 an ounce.

The unofficial closing bells put the DJIA up more than 126 points to 14,253.77 (an all-time closing high) (0.89%), the NASDAQ rose about 42 points (1.32%) to 3,224.13, and the S&P 500 rose 0.96% or more than 14 points to 1,539.79.

There were a several analyst upgrades and downgrades today, including Netflix Inc. (NASDAQ: NFLX) started as ‘outperform’ at RBC; Yahoo! Inc. (NASDAQ: YHOO) raised to ‘buy’ at Cantor Fitzgerald; Cliffs Natural Resources Inc. (NYSE: CLF) cut to ‘market perform’ at BMO; Agilent Technologies Inc. (NYSE: A) started as ‘outperform’ with a price target of $48 at Credit Suisse; and Apollo Group Inc. (NASDAQ: APOL) raised to ‘hold’ at Deutsche Bank (more coverage here).

Earnings reports since markets closed last night resulted in several price moves today, including these: Checkpoint Systems Inc. (NYSE: CKP) is up 7% at $12.40 after posting a new 52-week high of $12.70 earlier today; Constellation Energy Partners LLC (NYSEMKT: CEP) is down 5% at $1.72; and American Apparel Inc. (NYSEMKT: APP) is up 18.6% at $1.53.

Before markets open tomorrow morning we are scheduled to hear from Gevo Inc. (NASDAQ: GEVO), Qihoo 360 Technology Co. Ltd. (NASDAQ: QIHU), Smith & Wesson Holding Corp. (NASDAQ: SWHC), Verifone Systems Inc. (NYSE: PAY), American Eagle Outfitters Inc. (NYSE: AEO), Big Lots Inc. (NYSE: BIG), Fresh Market Inc. (NYSE: TFM), Hovnanian Enterprises Inc. (NYSE: HOV), Staples Inc. (NASDAQ: SPLS), and Suntech Power Holdings Co. Ltd. (NYSE: STP).

Some standouts from today include the following stocks:

MGIC Investment Corp. (NYSE: MTG) is up 24.4% at $5.20 after posting a new 52-week high of $5.37 earlier today. The insurance company continues to be in favor with investors who believe the housing market is poised for a strong comeback.

Cree Inc. (NASDAQ: CREE) is up 13.6% at $50.80 after posting a new 52-week high of $52.35 earlier today. The maker of LED lighting introduced a new product today that has been called “groundbreaking.”

Vodafone Group plc (NASDAQ: VOD) is up 5.3% at $26.71. The mobile carrier is reported to be in talks again with Verizon Communications Inc. (NYSE: VZ) regarding a merger or Verizon buyout of Vodafone’s stake in Verizon Wireless. More coverage here.

Stay tuned for Wednesday. Philadelphia Fed President Charles Plosser and Dallas Fed President Richard Fisher are giving speeches. We have also noted the following events on the schedule (all times Eastern):

• 7:00 a.m. – Mortgage Bankers Association purchase applications
• 8:15 a.m. – ADP employment report
• 10:00 a.m. – Factory orders
• 10:30 a.m. – EIA weekly petroleum status report
• 2:00 p.m. – Federal Reserve Beige Book
• 3:00 p.m. – Treasury STRIPS

The post 24/7 Wall St. Closing Bell — March 5, 2013: Markets Climb as Dow Sets All-Time High (NFLX, YHOO, CLF, A, APOL, CKP, CEP, APP, GEVO, QIHU, SWHU, PAY, AEO, BIG, TFM, HOV, SPLS, STP, MTG, CREE, VOD, VZ) appeared first on 24/7 Wall St..

After three consecutive years of 4%+ same-store sales growth in the month of February, the outlook for the month in 2013 calls for growth of 2.7%, primarily on a forecast of weaker sales at apparel and teen specialty retail stores. According to research firm Retail Metrics, projected weakness at both J.C. Penney Co. Inc. (NYSE: JCP) and Sears Holding Corp. (NASDAQ: SHLD) have led to projected decline in same-store sales of 0.1% at department stores.

The largest gains are forecast at discount stores such as Big Lots Inc. (NYSE: BIG), Costco Wholesale Corp. (NASDAQ: COST), PriceSmart Inc. (NASDAQ: PSMT) and Family Dollar Stores Inc. (NYSE: FDO).

The research firm attributes the lower comparable store sales to delays in getting refunds to taxpayers, the impact of higher payroll taxes on income, higher gasoline prices in February, and cooler weather which delayed the start of sales of spring clothing.

Retail same-store sales figures are due to be released later this week.

The post Retail Sales on Track for Lower Growth appeared first on 24/7 Wall St..

Retailers do not appear to be headed for uniformly upbeat sales increases in December. Research firm Retail Metrics has dropped its forecast for a same-store sales increase by another 10 basis points this morning, to 1.8%. The projection at the beginning of December called for growth of 2.5%, with sales excluding drug stores dropping from a starting point of 4.2% to 3.5%.

The S&P 500 index is up 1.75% about half an hour before noon today, and retailers’ share prices are all over the map. Kohl’s Corp. (NYSE: KSS) is down 2.1%, Macy’s Inc. (NYSE: M) is down 1.5%, Nordstrom Inc. (NYSE: JWN) is down 0.5%, and Dillard’s Inc. (NYSE: DDS) is down 1.7%.

On the upside, J.C. Penney Co. Inc. (NYSE: JCP) is up 3.9%, The TJX Companies Inc. (NYSE: TJX) is up 0.5%, and Saks Inc. (NYSE: SKS) is up 0.9%.

Williams-Sonoma Inc. (NYSE: WSM) is up 1.2%, but teen retailers Hot Topic Inc. (NASDAQ: HOTT) and Abercrombie & Fitch Co. (NYSE: ANF) are down 1% and 1.5%, respectively.

Wal-Mart Stores Inc. (NYSE: WMT) is up 0.8% and Target Corp. (NYSE: TGT) is down 1.7%. Discount stores are not faring too well either, with Dollar General Corp. (NYSE: DG) down 1.9%, Family Dollar Stores  (NYSE: FDO) down fractionally, and Big Lots Inc. (NYSE: BIG) up fractionally. Electronics retailer Best Buy Co. Inc. (NYSE: BBY) is off about 0.2%.

Retailers are expected to report December same-store sales tomorrow.

Paul Ausick

The post Retail Stocks Not Sharing Equally in Today’s Surge appeared first on 24/7 Wall St..

Investors who are optimistic about Europe’s prospects are disappointed by European Central Bank comments on the economy. (Reuters)

T-Mobile will stop phone subsidies and start to sell the Apple Inc. (NASDAQ: AAPL) iPhone next year. (Reuters)

U.S. cellular carriers will create a 911 service. (Reuters)

Delta Air Line’s (NYSE: DAL) reservation app is challenged in a California court because of the way it collects data. (WSJ)

International Business Machines Corp. (NYSE: IBM), one of the leaders in big company benefits programs, will change the way it contributes to 401(K) accounts. (WSJ)

Tim Cook of Apple says the company will produce one of its Mac products in the United States. (WSJ)

The FBI is examining whether Big Lots Inc. (NYSE: BIG) CEO Bloomberg sold $10 million in shares ahead of bad news that pushed shares down. (WSJ)

The Securities and Exchange Commission sends a Wells Notice to the CEO of Netflix (NASDAQ: NFLX) about posting of information on Facebook Inc. (NASDAQ: FB). (WSJ)

Google Inc. (NASDAQ: GOOG) will sell the set-top box business of Motorola Mobility. (WSJ)

U.S. companies slow the amount of cash they put on their balance sheets as the economy improves. (WSJ)

PPR, Alcoa Inc. (NYSE: AA) and Kimberly-Clark Corp. (NYSE: KMB) join other companies moving out of southern Europe as its economy falters. (WSJ)

Google Apps will no longer be offered to small businesses for free. (WSJ)

Investors grow concerned that bonds in top-rated companies have become more risky. (WSJ)

A U.S. judge in charge of the largest patent case between Apple and Samsung presses for the companies to settle disputes around the world. (FT)

Brazil will invest $26 billion to improve its ports. (FT)

The Bundesbank cuts its estimate for German GDP growth from 1.6% to 0.4%. (Bloomberg)

Douglas A. McIntyre

The post Media Digest (12/7/2012) Reuters, WSJ, FT, Bloomberg appeared first on 24/7 Wall St..

The Federal Reserve will begin a new round of bond buying in hopes of stimulating the economy. (Reuters)

China shares reached a quarter-long high as government policy initiatives buoy investors. (Reuters)

Nokia Corp. (NYSE: NOK) will release its new Lumia smartphone with China Mobile Ltd. (NYSE: CHL). (Reuters)

Yahoo! Inc. (NASDAQ: YHOO) buys a video chat start-up company. (Reuters)

Netflix Inc. (NASDAQ: NFLX) sets a new movie distribution deal with Walt Disney Co. (NYSE: DIS). (Reuters)

The SEC investigates sales of stock by Big Lots Inc. (NYSE: BIG) CEO Steven Fishman. (WSJ)

Tesco Corp. (NASDAQ: TESO) will leave the U.K. market after large financial losses. (WSJ)

The Big Three have more unsold cars because of the success of Japanese in the small vehicle market. (WSJ)

U.S. oil output is near a 15-year high. (WSJ)

Facebook Inc. (NASDAQ: FB) will joint the Nasdaq 100. (WSJ)

Verizon Communications Inc. (NYSE: VZ) is replacing damaged cooper wire with fiber. (WSJ)

The failure of the Thomson Reuters Corp. (NYSE: TRI) business prompts the head of the family that owns it to get more involved. (WSJ)

Pandora Media Inc.’s (NYSE: P) shares drop as it posts poor earnings and a weak forecast. (WSJ)

Darden Restaurants Inc. (NYSE: DRI) says marketing did not increase traffic from consumers with tight budgets as its financial results faltered. (WSJ)

Canadian Pacific Railway Ltd. (NYSE: CP) will cut 4,500 jobs. (WSJ)

Intel Corp. (NASDAQ: INTC) will borrow $6 billion to increase its share buybacks. (WSJ)

A mechanical problem forces a Delta Air Lines Inc. (NYSE: DAL) Boeing Co. (NYSE: BA) 787 Dreamliner to make an emergency landing. (WSJ)

Qualcomm Inc. (NASDAQ: QCOM) will make a $120 million investment in Sharp. (WSJ)

Zynga Inc. (NASDAQ: ZNGA) will bundle its games with cable TV offerings. (WSJ)

Apps hurt the amount charged by carriers for texts. (NYT)

Europe’s finance ministers disagree on how to set a central bank authority. (NYT)

John Paulson’s hedge fund posts losses due to a worsening financial picture in Europe. (Bloomberg)

Douglas A. McIntyre

The post Media Digest (12/5/2012) Reuters, WSJ, NYT, Bloomberg appeared first on 24/7 Wall St..

U.S. equity markets opened essentially flat this morning on a day when not much new data was released. In Europe, unemployment data from Spain was awful, but not as bad as many had feared (more coverage here). The British Chamber of Commerce lowered its estimate for U.K. GDP growth from 1.2% to 1% in 2013 and from 2.2% to 1.8% in 2014. Asian markets responded with a yawn to a 0.25% rate cut by the Reserve Bank of Australia. Japanese markets reacted badly to soft U.S. manufacturing data from yesterday.

The U.S. dollar index fell today, now down 0.31% at 79.634. The GSCI commodity index is up 0.1% at 650.78, with commodities prices mostly lower today. WTI crude oil closed down 0.7% today, at $88.50 a barrel. Brent crude trades down 1% at $109.83 a barrel. Natural gas is down 1.5% today at about $3.54 per thousand cubic feet. Gold settled down 1.5% today at $1,695.80 an ounce.

The unofficial closing bells put the DJIA down about 14 points to 12,951.70 (-0.11%), the NASDAQ down more than 5 points (-0.18%) to 2,996.69, and the S&P 500 fell -0.17% or more than 2 points to 1,407.04.

There were several analyst upgrades and downgrades today, including Demand Media Inc. (NYSE: DMD) cut to ‘sell’ at Goldman Sachs; IAC/InteractiveCorp (NASDAQ: IACI) cut to ‘sell’ at Goldman Sachs; LDK Solar Co. Ltd. (NYSE: LDK) reiterated as ‘sell’ at Argus; Eaton Corp. (NYSE: ETN) started as ‘buy’ at Citigroup; and Dollar Tree Inc. (NASDAQ: DLTR) raised to ‘equal weight’ at Morgan Stanley.

Earnings reports since markets closed last night have resulted in several price changes for reporting companies as of the last half hour of trading today: Pep Boys-Manny, Moe & Jack (NYSE: PBY) is down 12.6% at $9.33; Big Lots Inc. (NYSE: BIG) is up 11.6% at $31.29 (more coverage here); Autozone Inc. (NYSE: AZO) is down 3% at $366.83 (more coverage here); Toll Brothers Inc. (NYSE: TOL) is up 0.5% at $32.59 (more coverage here); and Vail Resorts Inc. (NYSE: MTN) is down 8.2% at $51.25.

Before markets open tomorrow morning we are scheduled to hear from Mattress Firm Holding Corp. (NASDAQ: MFRM), Pandora Media Inc. (NYSE: P), and Francesca’s Holdings Corp. (NASDAQ: FRAN).

Some standouts from today include the following stocks:

Nokia Corp. (NYSE: NOK) is up 5.1% at $3.43. The mobile phone maker has reportedly signed a deal to distribute its Lumia 920 through China Mobile Ltd. (NYSE: CHL).

Gap Inc. (NYSE: GPS) is down 10.5% at $30.88. The apparel retailer has confirmed that it will not pay a special dividend causing despair among many investors.

Netflix Inc. (NASDAQ: NFLX) is up 15.7% at $87.93. The DVD rental and streaming media company has signed a new distribution deal with The Walt Disney Co. (NYSE: DIS). More coverage here.

Net 1 Ueps Technologies Ltd. (NASDAQ: UEPS) is down 61% at $3.06 after posting a new all-time low of $3.01 earlier today. The electronic payments company has said it is being investigated by the U.S. Justice Department. More coverage here.

Stay tuned for Wednesday. We have noted the following events on the schedule (all times Eastern):

• 7:00 a.m. – Mortgage Bankers Association purchase applications
• 8:15 a.m. – ADP employment report
• 8:30 a.m. – Productivity and costs report
• 10:00 a.m. – Factory orders
• 10:00 a.m. – Institute for Supply Management non-manufacturing index
• 10:30 a.m. – EIA weekly petroleum status report

Paul Ausick

The post 24/7 Wall St. Closing Bell — December 4, 2012: Markets Bounce Around, Remain Nearly Flat (DMD, IACI, LDK, ETN, DLTR, PBY, BIG, AZO, TOL, MTN, MFRM, P, FRAN, NOK, CHL, GPS, NFLX, DIS, UEPS) appeared first on 24/7 Wall St..

The stock market is mixed Tuesday, with the Dow Jones Industrial Average up 0.02%, the Nasdaq down 0.54% and the S&P 500 down 0.20%. Today’s winners include a pharmaceutical company entering into a partnership with a competitor to develop a cancer drug and a retailer whose CEO is departing in the near future. Today’s sole loser is a drug company ending a study of a brain cancer drug.

These are Tuesday’s winners and loser.

Biggest Winners

Shares of Galena Biopharma, Inc (NASDAQ: GALE) are up 10.86% to $2.26 on trading volume of 5.4 million shares. The biopharmaceutical company has signed an agreement with Teva Pharmaceutical Industries Limited (NYSE: TEVA) to develop its cancer treatment, NeuVax. The 52-week high is $3.54.

Shares of Big Lots Inc. (NYSE: BIG) are up 7.67% to $30.19 on trading volume of 3.9 million shares. CEO Steve Fishman announced he is retiring in 2013 after eight years as head of the company. The 52-week high is $47.22.

Biggest Loser

Shares of Geron Corporation (NASDAQ: GERN) are down 27.70% to $1.07 on trading volume of 3.7 million shares. The company announced it is ending research on a drug candidate to treat brain cancer, which will result in the layoff of 40 of its 107 full-time staffers. Before Tuesday, the 52-week low was $1.21.

Samuel Weigley

Follow him on Twitter: SWeigley

The post Today’s Market Winners and Losers appeared first on 24/7 Wall St..

Big Lots Inc. (NYSE: BIG) reported third quarter 2012 results before markets opened this morning. The close-out retailer reported a diluted earnings per share (EPS) loss of $0.10 on revenues of $1.1 billion. In the same period a year ago, Big Lots reported EPS of $0.06 on revenue of $1.12 billion. Today’s results also compare to the Thomson Reuters consensus estimates for a net loss of $0.24 per share and $1.14 billion in revenue.

The company provided updated guidance for the fourth quarter and the full 2012 fiscal year. For the current quarter, Big Lots forecasts EPS of $1.91 to $2.10, above EPS of $1.75 in the fourth quarter of 2011. The forecast assumes a decline in same-store sales of low to mid single digits and an increase of 3% to 7% in total U.S. sales. The consensus EPS estimate calls for a total of $2.02.

For the full fiscal year, Big Lots expects to post adjusted EPS of $2.86 to $3.05. The total excludes a cash charge of $3.4 million that the company took in the first fiscal quarter. The company projects a U.S. same-store sales decline of in the low single digits and an increase in U.S. sales of 1% to 3%. The consensus estimate calls for EPS of $2.80.

The fourth quarter and the fiscal year each have an extra week this year, which will certainly help the company meet its forecasts.

In the third quarter, U.S. same-store sales fell 4.6% and the company’s loss from continuing U.S. operations totaled $1.7 million. In its Canadian division, the company posted a net loss of $11.4 million.

Unlike discount retailers Family Dollar Stores Inc. (NYSE: FDO) or Dollar Tree Inc. (NASDAQ: DLTR), customers at Big Lots are far more likely to be on a kind of bargain treasure hunt, rather than buying from a prepared list. If times get tight, store traffic — and sales — slide.

That said, the store completed a $299 million share buyback in the third quarter, reclaiming 13% of the stores outstanding shares. The company did not announce a new stock repurchase plan.

Shares are up 7% in premarket trading this morning, at $30.00, in a 52-week range of $26.69 to $47.22. Thomson Reuters had a consensus analyst price target of around $34.00 before today’s results were announced.

Paul Ausick

The post Big Lots Raises Outlook After Smaller Q3 Loss appeared first on 24/7 Wall St..

U.S. equity markets opened higher this morning after taking a day off to celebrate Thanksgiving. Reasonably good news out of Europe this morning on several fronts. First, PMI numbers were above expectations in France, while Germany’s manufacturing PMI came in higher than expected and the countries services index came in a little lower. Spain’s producer price index rose less than expected, and Germany’s business climate index came in higher than expected. Eurozone leaders are (surprise!) deadlocked on budget negotiations and may not have a solution until after the beginning of 2013. In Asia, Japan’s Nikkei was also closed yesterday and action was sparse in the other major trading centers. In the U.S., what is thought to be a good start to the holiday shopping season have given markets a boost all day (more coverage here). U.S. markets closed early today, at 1:00 p.m. ET.

The U.S. dollar index fell today, now down 0.52% at 80.280. The GSCI commodity index is up 0.5% at 646.01, with commodities prices mostly higher today on the weaker dollar. WTI crude oil closed 0.9% today, at $88.74 a barrel. Brent crude trades up about 0.4% at $111.01 a barrel. Natural gas is down 0.2% today at about $3.90 per thousand cubic feet. Gold settled up 1.2% today at $1,748.50 an ounce.

The unofficial closing bells put the DJIA up nearly 173 points to 13,009.61 (1.35%), the NASDAQ rose more than 40 points (1.38%) to 2,966.85, and the S&P 500 rose 1.30% or about 18 points to 1,409.15.

There were only a few analyst upgrades and downgrades today, including Eni SpA (NYSE: E) raised to ‘outperform’ at Macquarie; PetroQuest Energy Inc. (NYSE: PQ) raised to ‘buy’ at Stifel Nicolaus; Telecom Italia SpA (NYSE: TI) raised to ‘neutral’ at HSBC Securities; and Nokia Corp. (NYSE: NOK) raised to ‘buy’ with a target price of €2.9 ($3.75) at Danske.

Earnings reports from noteworthy companies won’t begin again until after markets close on Monday, when we expect to hear from Big Lots Inc. (NYSE: BIG), Jos. A. Banks Clothiers Inc. (NASDAQ: JOSB), and Seadrill Ltd. (NYSE: SDRL) among others.

On the Black Friday shopping scene, Retail Metrics is reporting that “traffic levels last night were decent but not eye-opening.” The research firm also said that although retail sales numbers for Black Friday may turn out to be a bit weak, investors should not overreact to the numbers. Despite lower unemployment, a better housing market, and consumer confidence at a 5-year high, “consumers are and still [will] be deal driven.”

Some standouts from today include the following stocks:

Research in Motion Ltd. (NASDAQ: RIMM) is up 13.8% at $11.68. The mobile handset maker’s shares continue to rise in anticipation of new products. More coverage here.

Kit digital Inc. (NASDAQ: KITD) is down 64.7% at $0.73 after posting a new 52-week high of $0.72 earlier today. The Internet video technology company will restate financial results for the past three years.

Molycorp Inc. (NYSE: MCP) is up 17.3% at $8.48. The rare earths miner has seen some insider buying..

Stay tuned for Monday. We have noted the following events on the schedule (all times Eastern):

• 8:30 a.m. – Chicago Fed national activity index
• 10:30 a.m. – Dallas Fed manufacturing survey
• 11:30 a.m. – 3- and 6-month Treasury bill auctions

Have a great weekend!

Paul Ausick

The post 24/7 Wall St. Closing Bell — November 23, 2012: Markets Higher on Throngs of Shoppers (E, PQ, TI, NOK, BIG, JOSB, SDRL, RIMM, KITD, MCP) appeared first on 24/7 Wall St..

There is a nearly endless number of criteria that measure how well CEOs perform, whether they are paid fairly, and what metrics should be used for determining chief executive compensation. One yardstick that is never used but should be, is the simple ratio of market capitalization to pay. It takes into account the entire value of the company to shareholders and weighs it directly against annual compensation.

At the one end of the compensation to market cap ratio are relatively small companies that have very highly paid CEOs. At the other are chief executives at large companies who work for more modest sums and are either paid well for extraordinary financial results or have boards that believe that CEOs should not be paid like sultans

Read: America’s Least Valuable CEOs

Also Read: America’s Most Valuable CEOs

Every year, the media come out with lists of American public company CEOs who makes tens of millions of dollars. While some may have earned the money because of phenomenal results, others are paid well despite poor results. Our list of least valuable CEOs is based on chief executives who are paid handsomely, even though they run corporations with modest market caps and sales. Additionally, most of their companies have not done well, either financially or in terms of stock market performance.

Some of the companies on this list are run by founders or large shareholders. These people may well be in a position to have outsized influence over their own pay packages, which puts shareholders in an impossible position to effectively protest compensation. Other CEOs have been hired fairly recently to turn companies around. They have been paid well to take jobs in which they are expected to post great improvement, but they have not done so yet, and may never. .

24/7 Wall St. identified the least valuable CEOs based on executive pay relative to company market cap. We reviewed the market cap and CEO compensation for every S&P 500 company as of Dec. 31, 2011. If a company’s stock performance exceeded that of the S&P 500 Index between December 30th, 2011 and November 12th, 2012 it was excluded. CEOs who joined their companies or were promoted during the year in question have been included for the purpose of our measurements.

These are America’s least valuable CEOs.

10. Anthony Petrello
> Compensation to market cap: $3,208 / $1M market cap
> Compensation: $16 million
> Market Cap: $5 billion
> Company: Nabor Industries (NYSE: NBR)

Anthony Petrello was a lawyer with the firm Baker & McKenzie from 1979 to 1991. He became CEO of Nabor, a big land rig drilling contractor, in October of last year after two decades as president. Analysts have mentioned that Nabor CEO compensation has not been in line with the company’s performance for a number of years. Corporate governance officials revolted when Petrello’s predecessor, Eugene Isenberg, was offered a $100 million comp package as he left the company. The criticism was so severe that Isenberg turned down the package early this year. Petrello, who was Isenberg’s No. 2 until his promotion, may also have a tremendously large package, especially given the company’s size. But Nabor’s financial performance has been reasonably good recently. Revenue in 2011 was $6.1 billion and net income was $244 million. In the previous year, revenue was $4.1 billion, and net income was $95 million. These figures, however, have not been anywhere near expectations as evidenced by the roughly 40% drop in Nabor’s share price over the last two years. The S&P 500, during that time has increased by 12%.

9. Richard Kramer
> Compensation to market cap: $3,530 / $1M market cap
> Compensation: $12.2 billion
> Market Cap 12/31: $3.5 billion
> Company: Goodyear Tire & Rubber Co. (NYSE: GT)

Goodyear posted improved financial results in 2011. Revenue was $22.7 billion and net income was $321 million. This compares to revenue of $18.8 billion and a net loss of $216 million in 2010. Wall Street, however, wasn’t impressed and the company’s shares underperformed the S&P 500 over the last two years. Kramer became head of the huge tire company in April 2010. He had been an accountant and worked at PricewaterhouseCoopers previously. He joined Goodyear as vice president of the corporate finance division in 2000. Last year was not the only one in which Kramer might have been criticized by pay vigilantes. He made $10.1 million in 2010.

8. Gregory Cappelli
> Compensation to market cap: $3,674 / $1M market cap
> Compensation: $25.1 million
> Market Cap: $6.8 billion
> Company: Apollo Group (NASDAQ: APOL)

Education company Apollo was caught in the fallout of a government investigation into for-profit education companies which undermined its financial results recently. Most of the company’s revenue comes from its University of Phoenix operation. Apollo had 21,777 full time students as of the middle of last year. The company’s lead position in the sector helped it to grow revenue for several years, but in its most recent fiscal, revenue dropped to $4.25 billion from $4.71 billion the year before. Net income attributed to Apollo fell from $572 million to $423 million over the same period.

Apollo’s Achilles’ heel — over-reliance on government student loans — is particularly exposed. As one Morningstar analyst pointed out recently, “Regulatory concerns are high partly because of high post-graduation student debt loads. Tuition rates may be forced downward so programs can meet maximum debt/income ratios.” Investor anxiety over the effects of government regulation has pushed Apollo shares down 40% over the last two years. CEO Gregory Cappelli, however, does have a great advantage in his corner. Two board members are founder Dr. John G. Sperling, executive chairman of the board, and his son, Peter V. Sperling, vice chairman. They control the company through ownership of Class B Shares, and almost certainly have an outsized say about Cappelli’s package

Also Read: States with the Highest and Lowest Taxes

7. Rory Read
> Compensation to market cap: $4,148 / $1M market cap
> Compensation: $15.6 billion
> Market Cap: $3.8 billion
> Company: AMD (NYSE: AMD)

AMD, the No. 2 semiconductor company in the world after Intel, has been near death for years. Between price and research and development pressures from its larger competitor and a sharp drop in PCs and servers sales, AMD has almost no room to improve its financial situation. Recent rumors of a sale gave the stock a temporary lift, but when the company denied them, share price cratered. Last year, revenue ticked up to $6.6 billion from $6.5 billion the year before. Net income rose to $491 million from $471 million. With the shrinking share of PCs and the rapid growth of mobile devices such as tablets and smartphones, investors’ rapidly grew concerned about AMD’s future. AMD’s share price has dropped more than 70% in the last two years. Rory Read joined AMD as CEO in August 2011. He has previously worked at Chinese PC firm Lenovo as chief operating officer. His efforts to improve the fate of the company are almost certainly hopeless, but he is paid well while he waits for AMD to fall apart at the seams.

6. Kieran Gallahue
> Compensation to market cap: $4,419 / $1M market cap
> Compensation:  $25.2 million
> Market Cap: $5.7 billion
> Company: CareFusion (NYSE: CFN)

CareFusion makes and markets medical technology, including products for infection prevention, biopsies, respiratory care, and surgical supplies. It is a spin-out from huge medical supply firm Cardinal Health in August 2009. Several issues almost always turn investors against public companies. One is when they delay their SEC filings. CareFusion has yet to file its 10-K for its most recent full year results. The company says it is working on accounting charges, but has not said when the process will be complete. In the 10-K for the fiscal year that ended on June 30, 2011, CareFusion modest disappointing results. Revenue rose from $3.47 billion the year before to $3.53 billion. Net income rose from $194 million to $244 million. These results and those posted in subsequent quarters have been good enough so that CareFusion’s shares have matched the performance of the S&P 500 over the last two years. Kieran Gallahue became CEO in January 2011. With a pay package of $25.2 million, he is wildly well paid to run such a modest sized company.

5. Steven Fishman
> Compensation to market cap: $4,814 / $1M market cap
> Compensation: $11.9 million
> Market Cap: $2.5 billion
> Company: Big Lots (NYSE: BIG)

Big Lots’ is one of the largest close-out retailers based in the U.S. The company has just over 1,400 stores spread throughout America and Canada. Its stores are known for providing goods at extremely low prices, it competes in a portion of the retail market that often includes Walmart. Its shares have declined 10% over the last two years. According to the company’s most recent 10-K, revenue rose to $5.2 billion from $5 billion the year before. But net income fell from $223 million to $207 million. Steven Fishman joined Big Lots as CEO in July 2005. His board has consistently treated him generously. Over the last three years, Fishman’s pay has totaled $35 million.

4. Ian Cumming
> Compensation to market cap: $5,066 / $1M market cap
> Compensation: $28.2 million
> Market Cap: $5.6 billion
> Company: Leucadia National (NYSE: LUK)

Leucadia is often referred to as the poor man’s Berkshire Hathaway. It recently said it will buy the portion of investment bank Jefferies it does not already own. Once the transaction is completed, CEO Ian Cummings will stay, but the chief of Jefferies will take over as CEO of the combined operations. Joseph Steinberg and Cumming essentially control Leucadia. The firm’s shares declined more than 20% in the last two years compared to a 12% improvement in the S&P 500. Revenue was up slightly last year from $1.32 billion in 2010 to $1.57 billion in 2011. Much of the revenue came from the firm’s oil services, gaming entertainment operations, and from securities transactions. Because of an accounting change that involved an income tax provision, net income fell from $1.9 billion in 2010 to $25 million in 2011. The figure was also down from $550 million in 2009. Cumming has served as a director and chairman of the board since June 1978. Steinberg has been president since January 1979. Steinberg owns 10% of the firm’s shares and Cumming 9%, so it is not hard to see why compensation is so liberal. As CEO, Cumming’s pay package may be more visible but Steinberg made $28.2 million last year.

Also Read: Thirteen American Cities Going Broke

3. Dinesh Paliwal
> Compensation to market cap: $6,027 / $1M market cap
> Compensation: $16.1 million
> Market Cap: $2.7 billion
> Company: Harman International (NYSE: HAR)

Shares of Harman, the maker of audio and electronics entertainment products, have sold off 7% during the last two years. Paliwal did well last year, but he has a history of being generously rewarded by his board. Over the three years that ended in 2011 he made more than $42 million. Harman posted good results last year, although some of the growth had to do with a recent acquisition. Revenue rose to $4.36 billion in fiscal 2011 from $3.77 billion in fiscal 2010. Net income was $330 million, up from $136 million the previous year. Sales at Harman’s largest unit, infotainment, which made up 55% of total revenue, grew 15%. The division sells GPS and entertainment hardware, among other products, to car manufacturers such as BMW, Subaru, and Audi.

2. Ronald Johnson
> Compensation to market cap: $7,098 / $1M market cap
> Compensation: $53.3 million
> Market Cap: $7.5 billion
> Company: J.C. Penney (NYSE: JCP)

If there is a shortlist of CEOs at American publicly traded companies who have done an awful job, J.C. Penney’s CEO Ronald Johnson is at the top of it. His move from his role as the head of Apple’s retail operations to the “rescue” of J.C. Penney has been much discussed in the business news media. After his move, Johnson changed Penney’s discount strategy. Revenue then began to drop as much as 20% quarter over previous year’s quarter. Internet sales, critical to any retailer, have fallen even more. Shares are off by nearly 50% over the last two years. Many investors have completely given up on the company. Penney had 1,102 stores when it filed its most recent 10-K. That list of stores is being pruned as results worsen. Revenue was down 2.8% last year to $17.3 billion, but the rate of the drop has accelerated. It is a miracle that Johnson still has his job. But Penney does have a large shareholder, hedge fund Pershing Square, and if its founder William Ackman wants Johnson as CEO. It is unlikely Johnson will be leaving.

1. Michael Jeffries
> Compensation to market cap: $11,450 / $1M market cap
> Compensation: $48.1 million
> Market Cap: $4.2 billion
> Company: Abercrombie & Fitch (NYSE: ANF)

Abercrombie & Fitch posted a good quarter recently, but that was after a longer period in which the retailer suffered as its young, hip customers turned to other brands. Over the last two years, Abercrombie shares fell by 7%. The company and its sub-brands, which include Hollister and Abercrombie Kids, operate out of 1,045 locations. Abercrombie did well on the top line last year but not the bottom. Revenue reached $4.16 billion, up from $3.47 billion the year before. Net income fell from $150 million in 2010 to $128 million over the same period from 2010 to 2011. CEO Michael Jeffries has a long history with the company and is listed as a founder in the Abercrombie proxy. He has served as chairman since May 1998, and as chief executive officer since February 1992. Longevity has its advantages. Jeffries has made $107.6 million as the head of Abercrombie over the last three years.

Douglas A. McIntyre

Also Read: America’s Most Valuable CEOs

The post America’s Least Valuable CEOs appeared first on 24/7 Wall St..

Retail sales have been soft since early summer, and August doesn’t appear to be a get-well month for retailers either. Research firm Retail Metrics projects that August sales will rise just 1.7% compared to August 2011 sales. Last year sales rose 5.5% in August, following growth of 3.6% the year before.

The reasons are a bit complicated, and different stores have different problems. An article in today’s New York Times indicates that kids are waiting to buy until they return to school and see what the other kids are wearing. Another reason is the unusually hot weather which has kept consumers home. Higher gasoline prices factor in as well.

Some stores are already seeing soft sales in the back-to-school season. Pacific Sunwear of California Inc. (NASDAQ: PSUN), Aeropostale Inc. (NYSE: ARO), Big Lots Inc. (NYSE: BIG), and Abercrombie & Fitch Co. (NYSE: ANF) have reported softer sales according to Retail Metrics. A&F apparently got its fall and winter clothing into the stores too early and saw July sales fall by 10%.

Some retailers are reporting good sales though. Reports from The TJX Companies Inc. (NYSE: TJX), Ross Stores Inc. (NASDAQ: ROST), Wal-Mart Stores Inc. (NYSE: WMT), and American Eagle Outfitters Inc. (NYSE: AEO) indicate a somewhat better back-to-school shopping season.

Back-to-school is second in importance only to the year-end holiday season to retailers. July sales were soft and a rise of 1.7% in August isn’t much better. Maybe fashion-conscious teens will put some fire into September.

Paul Ausick

The post August Retail Sales Set for Lowest Growth in Three Years (PSUN, ARO, BIG, ANF, TJX, ROST, WMT, AEO) appeared first on 24/7 Wall St..

Shares of Big Lots Inc. (NYSE: BIG) fell 20.80% to close at $30.76 on trading volume of 15.9 million shares. The company earned 36 cents a share, down from 41 cents a share expected by analysts. Before Thursday, the 52-week low was $30.79.

Shares of Dell Inc. (NASDAQ: DELL) fell 3.77% to close at $11.24 on trading volume of 29.7 million shares. Dell reported second-quarter earnings of 50 cents a share of Wednesday, profits fell 16% due to the slowdown in personal computer sales. Before Thursday, the 52-week low

Samuel Weigley

Follow him on Twitter: SWeigley

The post Big Lots, Dell Join ’52-Week Low Club’ appeared first on 24/7 Wall St..

The three major US stock indexes opened lower this morning and spent most of the day heading lower still. Economic data was mixed at best today, with the flash PMI number lower than expected in China (more coverage here), followed by weakness in the overall flash PMI from the Eurozone (more coverage here). Yesterday’s FOMC minutes offered more hope for additional easing, which pumped some life in this morning’s futures as well. New claims for unemployment benefits came in worse than expected (more coverage here), while new home sales were higher than estimates (more coverage here). Housing prices in the U.S. also continued to rise, up 0.7% in June according to the FHFA.

The US dollar index fell today, now down 0.16% at 81.357. The GSCI commodity index is up fractionally today at 676.69, with commodities prices almost uniformly lower. WTI crude oil finished down 1% today, closing at $96.27/barrel. Brent crude trades up 0.03% at $114.95/barrel. Natural gas is down 0.2% today to $2.82/thousand cubic feet, following a larger-than-expected increase to U.S. inventories (our coverage here). Gold settled at $1,672.80/ounce, up 2% at a four-month high on the expectation of more quantitative easing.

The unofficial closing bells put the DJIA down about 114 points to 13,058.70 (-0.87%), the NASDAQ fell more than 20 points (-0.66%) to 3,053.40, and the S&P 500 fell -0.81% or more than 11 points to 1,402.11.

There were several analyst upgrades and downgrades today, including Exxon Mobil Corp. (NYSE: XOM) maintained as ‘neutral’ but target price raised to $90 at Credit Suisse, Northrop Grumman Corp. (NYSE: NOC) cut to ‘underperform’ at UBS; Safeway Inc. (NYSE: SWY) cut to ‘hold’ at Jefferies; Credit Suisse (NYSE: CS) raised to ‘buy’ at Deutsche Bank; and Whole Foods Market Inc. (NASDAQ: WFM) started as ‘outperform’ at Wells Fargo.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Hewlett-Packard Co. (NYSE: HPQ) is down 7.8% at $17.71 (more coverage here); Krispy Kreme Doughnuts Inc. (NYSE: KKD) is up 5.8% at $7.35; 1-800-Flowers.com Inc. (NASDAQ: FLWS) is down 1.3% at $3.55; Big Lots Inc. (NYSE: BIG) is down 23% at $29.89 after posting a new 52-week low of $29.33 earlier today (more coverage here); Hormel Foods Corp. (NYSE: HRL) is up 1.4% at $28.83; and Jinkosolar Holding Co. Ltd. (NYSE: JKS) is down 0.7% at $2.95.

Earnings releases scheduled before tomorrow’s open include Aruba Networks Inc. (NASDAQ: ARUN), Autodesk Inc. (NASDAQ: ADSK), bebe Stores Inc. (NASDAQ: BEBE), Salesforce.com Inc. (NYSE: CRM), Shoe Carnival Inc. (NASDAQ: SCVL), ReneSola Ltd. (NYSE: SOL), and The Madison Square Garden Co. (NASDAQ: MSG).

Some standouts from today include the following stocks:

Nokia Corp. (NYSE: NOK) is up 10.5% at $3.18. The mobile phone maker has no news today, but with more than 37 million shares held short, there is likely to be some short covering going on.

Rosetta Genomics Ltd. (NASDAQ: ROSG) is up 45.9% at $6.90. The health diagnostics maker got an upgrade today, adding to a doubling of the share price since the beginning of the year (more coverage here).

Guess? Inc. (NYSE: GES) is down 22.7% at $25.92. The apparel and accessories retailer missed earnings expectations and lowered guidance after markets closed yesterday.

Stay tuned for Friday.We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – Durable goods orders

Paul Ausick

The post 24/7 Wall St. Closing Bell — August 23, 2012: Markets Lose Ground on Weak Data (XOM, NOC, SWY, CS, WFM, HPQ, KKD, FLWS, BIG, HRL, JKS, ADSK, BEBE, CRM, SCVL, SOL, MSG, NOK, ROSG, JKS) appeared first on 24/7 Wall St..

Stocks are down Thursday following the news that initial jobless claims rose to 372,000 last week. The Dow Jones is down 0.61%, the Nasdaq is down 0.66% and the S&P 500 is down 0.52%. Today’s market winners include an analyst upgrade and an acquisition, while today’s losers include a retailer who missed earnings and a giant technology company forseeing trouble in the future.

Here are Thursday’s market winners and losers.

Biggest Winners

Shares of Rosetta Genomics, Ltd. (NASDAQ: ROSG) are up 18.81% to 5.62 on trading volume of 4.5 million shares. Flyonthewall.com reports that the company has just received a ‘Buy’ rating from Aegis, and the target price has been set for $16. The 52-week high is $26.70.

Shares of The Hain Celestial Group, Inc. (NASDAQ: HAIN) are up 15.82% to $65.91 on trading volume of 1.9 million shares. The company announced Thursday it plans to buy some food lines from Premier Foods PLC for approximately $318 million. Before Thursday, the 52-week high was $58.31.

Biggest Losers

Shares of Big Lots Inc. (NYSE: BIG) are down 21.16% to $30.62 on trading volume of 4.3 million shares. The company earned 36 cents a share in the second quarter, below the 41 cents a share analysts polled by Reuters were expecting. Before Thursday, the 52-week low was $30.79.

Shares of Hewlett-Packard Company (NYSE: HPQ) are down 6.72% to $17.91 on trading volume of 21.4 million shares. While the company’s third-quarter financials were in line with Wall Street expectations, CEO Meg Whitman hinted to analysts that there would likely be trouble in the personal computer business. The 52-week low is $17.41.

Samuel Weigley

Follow him on Twitter: SWeigley

The post Today’s Market Winners and Losers appeared first on 24/7 Wall St..

Big Lots Inc. (NYSE: BIG) reported second quarter EPS of $0.36 on $1.18 billion in sales before markets opened today. In the same period a year ago, the discount retailer reported EPS of $0.50 on revenue of $1.17 billion. Second-quarter results compare to the Thomson Reuters consensus estimates for EPS of $0.41 and $1.24 billion in revenue.

For the full fiscal year, Big Lots now expects adjusted EPS of $2.80-$2.95, down from EPS of $2.99 in 2011 and previous guidance of $3.25-$3.40. The consensus estimate called for EPS of $3.29.

U.S. same-store sales fell nearly 2% compared to the same period a year ago, and gross margin fell from 39.5% to 39.2%.

The company also announced today that it has appointed a new COO, a new chief administrative officer, a new chief merchandising officer, a new CFO, and a new senior vice-president for human resources.

The big problem for Big Lots is that the company’s target audience is currently strapped for cash and the problem will likely get worse as gasoline prices, home rents, and food costs rise. A relatively small portion of the company’s sales are based on consumer staples when compared with Family Dollar Stores Inc. (NYSE: FDO) and Dollar General Corp. (NYSE: DG).

Big Lots’ shares are down more than -18% in pre-market trading at $31.85. The current 52-week range is $30.79-$47.22. Thomson Reuters had a consensus analyst price target of $43.18 before today’s results were announced.

Paul Ausick

The post Big Lots Tanking on Poor Results, Lowered Forecast appeared first on 24/7 Wall St..

The three major US stock indexes opened lower this morning after Japan reported an unexpected plunge in its exports in July (our coverage here). In Europe there was not economic news out today, and absent any good news European markets chose to sell off. The report on existing home sales in the US came in about as expected (our coverage here), while the weekly report on crude oil and gasoline inventories moved prices a little higher (our coverage here). Low trading volumes continue to raise the question of whether or not recent share price increases are permanent (our coverage here).The release of the FOMC’s minutes sent equities spiking briefly (our coverage here), but it was enough to boost the Nasdaq Composite and S&P 500 indexes to finish slightly higher for the day.

The US dollar index fell today, now down 0.44% at 81.547. The GSCI commodity index is up 0.9% today at 675.55, with commodities prices mostly lower. WTI crude oil finished up 0.4% today, closing at $97.26/barrel. Brent crude trades up 0.05% at $114.70/barrel. Natural gas is up 1.8% today to $2.825/thousand cubic feet. Gold settled at $1,640.50/ounce, down 0.2%.

The unofficial closing bells put the DJIA down more than 31 points to 13,172.29 (-0.24%), the NASDAQ rose more than 6 points (0.21%) to 3,.73.67, and the S&P 500 rose 0.02% or less than 1 point to 1,413.51.

There were several analyst upgrades and downgrades today, including Best Buy Co. Inc. (NYSE: BBY) cut to ‘underperform’ at Wedbush; Zynga Inc. (NASDAQ: ZNGA) started as ‘neutral’ at Janney; Ceasars Entertainment Corp. (NASDAQ: CZR) started as ‘underweight’ at Barclays; Clearwire Corp. (NASDAQ: CLWR) cut to ‘underperform’ at RBC; and The Mosaic Co. (NYSE: MOS) started as ‘buy’ at Stifel Nicolaus.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Dell Inc. (NASDAQ: DELL) is down -5.2% at $11.70 after matching its 52-week low of $11.39 earlier today (more coverage here); Analog Devices Inc. (NASDAQ: ADI) is down 1.5% at $39.74; Intuit Inc. (NASDAQ: INTU) is up 1.3% at $59.74; Key Tronic Corp. (NASDAQ: KTCC) is up 22.5% at $9.80; American Eagle Outfitters Inc. (NYSE: AEO) is up 7% at $22.28 after posting a new 52-week high of $22.49 earlier today (more coverage here); Chico’s FAS Inc. (NYSE: CHS) is up 6.9% at $18.25 after posting a new 52-week high of $18.58 earlier today; and Toll Brothers Inc. (NYSE: TOL) is up 4.4% at $33.20 after posting a new 52-week high of $33.65 earlier today (more coverage here).

Earnings releases are slowing down, but reports scheduled before tomorrow’s open include Guess? Inc. (NYSE: GES), Hewlett-Packard Co. (NYSE: HPQ), Krispy Kreme Doughnuts Inc. (NYSE: KKD), 1-800-Flowers.com Inc. (NASDAQ: FLWS), Big Lots Inc. (NYSE: BIG), Hormel Foods Corp. (NYSE: HRL), and Jinkosolar Holding Co. Ltd. (NYSE: JKS).

Some standouts from today include the following stocks:

Sunrise Senior Living Inc. (NYSE: SRZ) is up 59.4% at $14.24 after posting a new 52-week high of $14.30 earlier today. The senior housing communities owner is being acquired by Health Care REIT Inc. in an all-cash deal valued at $1 billion. More coverage here.

Express Inc. (NASDAQ: EXPR) is down 11.2% at $15.00 after posting a new 52-week low of $14.94 earlier today. The specialty clothing and accessories retailer missed second-quarter expectations and cut its forecast again.

Wet Seal Inc. (NASDAQ: WTSLA) is down 9.5% at $2.77. The women’s specialty retailer reported inline results for the second quarter, but cut its estimates and adopted a shareholders’ rights plan.

Stay tuned for Thursday.We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – New claims for unemployment benefits
9:00 a.m. – Flash PMI manufacturing index
9:45 a.m. – Bloomberg consumer comfort index
10:00 a.m. – New home sales
10:00 a.m. – FHFA house price index
10:30 a.m. – EIA natural gas storage report
1:00 p.m. – 5-year TIPS auction
4:30 p.m. – Fed balance sheet and money supply

Paul Ausick

The post 24/7 Wall St. Closing Bell — August 22, 2012: Markets Sluggish Before FOMC Minutes (BBY, ZNGA, CZR, CLWR, MOS, DELL, ADI, INTU, KTCC, WTSLA, AEO, CHS, TOL, GES, HPQ, KKD, FLWS, BIG, HRL, JKS, SRZ, EXPR) appeared first on 24/7 Wall St..

While most earnings have already been announced, we have a significant number of sector leaders reporting earnings this week.  We have taken the Thomson Reuters consensus earnings per share and revenue estimates as well as provided some color on each situation.

Urban Outfitters Inc. (NASDAQ: URBN) is the only major retail earnings report we are tracking after the close on Monday.  Estimates are $0.33 EPS on sales of $671.6 million. Keep in mind that Urban Outfitters just saw its stock hit a 52-week high of $31.81 today before the report.

Here is a calendar of the key stocks we are tracking to watch earnings reports with previews for the rest of the week:

Tuesday

Analog Devices Inc. (NASDAQ: ADI) has estimates of $0.56 EPS and $692.2 million in sales. At $40.60, this is less than 1% under a 52-week high and that is impressive for a chip stock.

Barnes & Noble Inc. (NYSE: BKS) was surging at one point for its turnaround, activist push, the Nook, and the Microsoft deal.  That was then and shares are now down by more than half from the post-Microsoft deal.  There are only a few estimates but the consensus is for a big loss at -$0.98 EPS on a 4% sales growth to $1.48 billion.

Best Buy Co. Inc. (NYSE: BBY) is doing all it can to remain relevant and to fend off an immediate LBO/MBO from its founder.  Estimates are $0.31 EPS and $10.6 billion in sales.

Dell Inc. (NASDAQ: DELL) remains out of favor even though its new technology dividend strategy was more impressive than when its peers launched.  It will also act as a preview for Hewlett-Packard Co. (NYSE: HPQ) earnings the next day.  At $12.40, the 52-week range is $11.39 to $18.36; estimates for Dell are $0.45 EPS and $14.66 billion in sales.

Medtronic Inc. (NYSE: MDT) just hit a new 52-week high of $41.29 on Monday ahead of Tuesday morning’s report.  Estimates are $0.85 EPS and $4.0 billion in sales.

Tech Data Corporation (NASDAQ: TECD) was up 2% at $51.90 late on Monday with a 52-week range of $39.00 to $59.29.  This company offers insight into the distribution of consumer electronics around the globe.  Estimates are $1.17 EPS and $5.83 billion in sales.  With all the currency woes, we would keep an eye out there.

Wednesday

American Eagle Outfitters Inc. (NYSE: AEO) has recovered handily and its shares are up about 100% from its lows a year ago and now effectively at multi-year highs.  Estimates are $0.21 EPS and $721.7 million in revenue.

Hain Celestial Group Inc. (NASDAQ: HAIN) is within striking distance of 52-week highs and it will be interesting to see if it is riding the same healthy-food trends as seen elsewhere.  Estimates are $0.45 EPS and $365.6 million in sales.

Hewlett-Packard Co. (NYSE: HPQ) has already raised its guidance recently, so the report may be a bit anti-climactic.  Either way, the real focus has to be on this ongoing turnaround by Meg Whitman.

Kayak Software Corp. (NASDAQ: KYAK) is going to show its first public earnings report and we would remind you that there are less than a handful of estimates.  We have a ‘consensus’ of $0.24 EPS on $75.2 million in revenues for the newly public online travel price comparison website.

Toll Brothers Inc. (NYSE: TOL) is one more look at the US housing market. Estimates are $0.18 EPS and almost $509 million in revenues.  Imagine, a homebuilder making profits again. Just keep in mind that a lot of good news is already factored in here as the 2% drop on Monday to $31.75 compares to a 52-week range of $13.16 to $32.49.

Thursday

Autodesk Inc. (NASDAQ: ADSK) was down 3% to $33.90 late in Monday trading and the 52-week range is $22.99 to $42.69.  Estimates are $0.49 EPS and $593.4 million in revenue. While its chart is a long-term no-man’s land, the price is still close to 17-times this year’s expected earnings.

Big Lots Inc. (NYSE: BIG) has suffered from warnings and it might be safe to assume that anything remotely decent would be considered somewhat favorably.  Estimates are $0.41 EPS and $1.24 billion in revenue.

Gold Fields Ltd. (NYSE: GFI) is grossly under-followed by analysts with an active volume and with a market cap of almost $10 billion.  We have only one estimate of $0.36 EPS, but keep in mind that this South Africa-based gold mining giant is all international (South Africa, Peru, Ghana, and Australia).

salesforce.com Inc. (NYSE: CRM) is due on Thursday and the shares remain high-priced at 100-times expected fiscal earnings this year.  That is even with shares down at $146.00 from a high of $164.75.  This remains priced for perfection at that valuation.  Estimates are $0.39 EPS and $728.25 million in revenue.

JON C. OGG

The post Top Earnings Previews For The Week Ahead (URBN, BBY, DELL, HPQ, MDT, CRM) appeared first on 24/7 Wall St..

The three major US stock indexes opened higher this morning after the news that German chancellor Angela Merkel said Germany would support European Central Bank sovereign bond buying. Unfortunately she doesn’t have the last word on this (our coverage here). Other data out of Europe was also positive. In Asia, hope still abounds that China will lower its reserve ratio, freeing up more cash for banks to lend. Today’s report on US consumer sentiment exceeded expectations (our coverage here). The Conference Board’s report on leading economic indicators also beat expectations (more coverage here).

The US dollar index rose today, now up 0.3% at 82.605. The GSCI commodity index rose 0.8% to 667.57, with commodities prices mostly higher today. WTI crude oil finished up 0.4% today, closing at $96.01/barrel, up 3.4% for the week. Brent crude trades down 1.33% at $113.74/barrel. Natural gas is down fractionally today to $2.722/thousand cubic feet. Gold settled at $1,619.40/ounce, up fractionally and down 0.2% for the week. Platinum added 2.5% to close at $1,473/ounce, up more than 5% for the week, following violence at a major South African mine (our coverage here).

The unofficial closing bells put the DJIA up more than 25 points to 13,275.28 (0.19%), the NASDAQ rose more than 14 points (0.46%) to 3,076.59, and the S&P 500 rose 0.19% or nearly 3 points to 1,418.15.

There were several analyst upgrades and downgrades today, including Groupon Inc. (NASDAQ: GRPN) cut to ‘underweight’ at Evercore; Phillips 66 (NYSE: PSX) started as ‘overweight’ at JPMorgan; Wellpoint Inc. (NYSE: WLP) cut to ‘equal weight’ at Morgan Stanley; GT Advanced Technologies Inc. (NASDAQ: GTAT) raised to ‘buy’ at Canaccord Genuity; and Krispy Kreme Doughnuts Inc. (NYSE: KKD) started as ‘outperform’ at Wedbush Morgan.

Earnings reports since markets closed last last night have led to some price changes as of the last half hour of trading today: Aeropostale Inc. (NYSE: ARO) is down 11.1% at $12.15; America’s Car-Mart Inc. (NASDAQ: CRMT) is down 5.5% at $45.93; Brocade Communications Systems Inc. (NASDAQ: BRCD) is up 2.1% at $5.75; Gap Inc. (NYSE: GPS) is up 5% at $36.06 after posting a new 52-week high of $36.22 earlier today; Foot Locker Inc. (NYSE: FL) is up 2% at $35.18 after posting a new 52-week high of $37.98 earlier today; and J.M. Smucker Co. (NYSE: SJM) is up 5.2% at $83.09 after posting a new 52-week high of $84.10 earlier today.

Earnings releases are slowing down, but reports scheduled before Monday’s open include Corinthian Colleges Inc. (NASDAQ: COCO) and Lowe’s Companies Inc. (NYSE: LOW). Later in the week we expect to hear from Urban Outfitters Inc. (NASDAQ: URBN), Best Buy Co. Inc. (NYSE: BBY), Tech Data Corp. (NASDAQ: TECD), Wet Seal Inc. (NASDAQ: WTSLA), Chico’s FAS Inc. (NYSE: CHS), Hewlett-Packard Co. (NYSE: HPQ), Kayak Software Corp. (NASDAQ: KYAK), Krispy Kreme Doughnuts Inc. (NYSE: KKD), Autodesk Inc. (NASDAQ: ADSK), and Big Lots Inc. (NYSE: BIG).

Some standouts from today include the following stocks:

Checkpoint Systems Inc. (NYSE: CKP) is up 20.1% at $8.54. The retail security and solutions company had no news today, but one analyst has suggested the company as a possible buyout target.

Ann Inc. (NYSE: ANN) is up 21.8% at $34.26 after posting a new 52-week high of $34.37 earlier today. The women’s clothing retailer pounded estimates this morning.

Marvell Technology Group Ltd. (NASDAQ: MRVL) is down -14.3% at $10.52. The chipmaker missed EPS and revenue estimates last night as demand from storage providers and smartphone makers weakened.

Stay tuned for Monday. We have noted the following events on the schedule (all times Eastern):

• 8:30 a.m. – Chicago Fed national activity index
• 11:30 a.m. – 3- and 6-month bill auctions

Paul Ausick

The post 24/7 Wall St. Closing Bell — August 17, 2012: Markets Up on Light Volume, Little Enthusiasm (GRPN, PSX, WLP, GTAT, KKD, ARO, CRMT, BRCD, GPS, MRVL, ANN, FL, SJM, COCO, LOW, URBN, BBY, TECD, WTSLA, CHS, HPQ, KYAK, ADSK, BIG, CKP) appeared first on 24/7 Wall St..

The three major US stock indexes opened lower this morning following more data from China. Both export and import data fell short, weighing on most Asian markets (more coverage here). There was little news out of Europe, so markets there also reacted poorly to the weak Chinese data. In the US, import prices fell sharply (more coverage here) and the estimates for the US corn crop were chopped again (more coverage here). Neither data point had a lasting effect on equity trading, though, and stocks managed to close higher following a burst of enthusiasm in the last half hour.

The US dollar index fell today, now down -0.11% at 82.548. The GSCI commodity index rose 0.04% to 661.65, with commodities prices mostly down today. Corn hit an all-time high of $8.43/bushel before pulling back to a loss of about -2%. WTI crude oil finished down -0.5% today, closing at $92.87/barrel. Brent crude trades down -0.11% at $113.10/barrel. Natural gas is down -6% today to $2.766/thousand cubic feet (more coverage here). Gold settled at $1,623.70/ounce, up 0.2% for the day and 0.8% for the week.

The unofficial closing bells put the DJIA up more than 42 points to 13,207.65 (0.32%), the NASDAQ rose more than 2 points (0.07%) to 3,020.86, and the S&P 500 rose 0.22% or more than 3 points to 1,405.84.

There were several analyst upgrades and downgrades today, including Novo/Nordisk A/S (NYSE: NVO) cut to ‘sell’ at SocGen; Yahoo! Inc. (NASDAQ: YHOO), cut to ‘neutral’ at BofA/ML; Ralph Lauren Corp. (NYSE: RL) cut to ‘hold’ at Argus; Cablevision Systems Corp. (NYSE: CVC) cut to ‘equal weight’ at Barclays; Cisco Systems Inc. (NASDAQ: CSCO) started as ‘hold’ at Needham; and Big Lots Inc. (NYSE: BIG) cut to ‘underweight’ at JPMorgan.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: DeVry Inc. (NYSE: DV) is down -3.3% at $19.21; Nordstrom Inc. (NYSE: JWN) is up 1.8% at $56.09 (more coverage here); Nvidia Corp. (NASDAQ: NVDA) is down -0.5% at $14.63 (more coverage here); Codexis Inc. (NASDAQ: CDXS) is down -20.1% at $2.46 after posting a new 52-week low of $2.40 earlier today; J.C. Penney Co. Inc. (NYSE: JCP) is up 5.6% at $23.33 (more coverage here); and Bally Technologies Inc. (NYSE: BYI) is up 6.9% at $44.88 (more coverage here).

Earnings releases are slowing down, but some important reports scheduled for next week include Iamgold Corp. (NYSE: IAG), Sysco Corp. (NYSE: SYY), JDS Uniphase Corp. (NASDAQ: JDSU), Kid Brands Inc. (NYSE: KID), Michael Kors Holdings Ltd. (NYSE: KORS), TJX Companies Inc. (NYSE: TJX), Target Corp. (NYSE: TGT), Aeropostale Inc. (NYSE: ARO), Brocade Communications Systems Inc. (NASDAQ: BRCD), GameStop Corp. (NYSE: GME), Ross Stores Inc. (NASDAQ: ROST), Sears Holdings Corp. (NASDAQ: SHLD), and Wal-Mart Stores Inc. (NYSE: WMT).

Some standouts from today include the following stocks:

Fusion-io Inc. (NYSE: FIO) is up 30.1% at $27.50. The computer storage platform maker posted solid results last night and boosted its forecast (more coverage here).

ATP Oil & Gas Corp. (NASDAQ: ATPG) is down -70.9% at $0.38 after posting a new 52-week low of $0.31. The independent oil & gas company is believed to be preparing to file for bankruptcy.

Ubiquiti Networks Inc. (NASDAQ: UBNT) is down -42.2% at $8.67 after posting a new 52-week low of $8.52 earlier today. The wireless network products maker posted weak results last night and said it is continuing to fight counterfeiting in all parts of the world except the US.

Stay tuned for Monday. We have noted the following events on the schedule (all times Eastern):

• 11:30 a.m. – 3- and 6-month bill auctions

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Have a great weekend!

Paul Ausick

The post 24/7 Wall St. Closing Bell — August 10, 2012: Market Dithers Until Last Minute (NVO, YHOO, RL, CVC, BIG, DV, JWN, NVDA, CDXS, JCP, BYI, IAG, SYY, JDSU, KID, KORS, TJX, TGT, ARO, BRCD, GME, ROST, SHLD, WMT, FIO, ATP, UBNT) appeared first on 24/7 Wall St..

These are some of the top analyst upgrades, downgrades and initiations seen from Wall St. research calls this Friday morning.

Advance Auto Parts (NYSE: AAP) cut to Neutral at Credit Suisse.

Big Lots Inc. (NYSE: BIG) cut to Underweight at JPMorgan.

Broadcom Corp. (NASDAQ: BRCM) raised to Outperform at Bernstein.

Cablevision Systems Corp. (NYSE: CVC) cut to Equal Weight at Barclays.

Ciena Corp. (NASDAQ: CIEN) started as Neutral at Goldman Sachs.

Cisco Systems Inc. (NASDAQ: CSCO) started as Hold at Needham after two big upgrades on Thursday.

CRA International Inc. (NASDAQ: CRAI) named as Bear of the Day at Zacks.

Discover Financial Services (NYSE: DFS) named as Bull of the Day at Zacks.

FXCM Inc. (NYSE: FXCM) cut to Neutral at Citigroup.

JDS Uniphase Corp. (NASDAQ: JDSU) started as Buy at Goldman Sachs.

Jive Software Inc. (NASDAQ: JIVE) raised to Buy at Needham.

Novo Nordisk A/S (NYSE: NVO) cut to Sell at Soc-Gen.

NVIDIA Corp. (NASDAQ: NVDA) reiterated Buy with $20 target at Canaccord Genuity.

Ralph Lauren Corp. (NYSE: RL) cut to Hold at Argus.

Sohu.com Inc. (NASDAQ: SOHU) cut to Neutral at UBS.

Yahoo! Inc. (NASDAQ: YHOO) cut to Neutral at BofA/ML.

If you enjoyed the top analyst upgrades and downgrades, you can join our free email newsletter that includes analyst summaries each morning sent right to your inbox. We also cover top issues such as IPOs, special financial exclusives, mergers and more. Sign up in the box below.

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JON C. OGG

The post Top Analyst Upgrades and Downgrades (AAP, BIG, BRCM, CVC, CIEN, CSCO, CRAI, DFS, FXCM, JDSU, JIVE, NVO, NVDA, RL, SOHU, YHOO) appeared first on 24/7 Wall St..

The three major US stock indexes opened lower this morning after European leaders disagree on a fiscal response to the continent’s debt crisis(our coverage here). New US home sales were slightly above the consensus estimate, but made little difference in the slide. As the day wore on, more bad news from Europe sent crude oil prices tumbling and the dollar rising in the currency markets (our coverage here). The US dollar index rose today, now up 0.76% at 82.115. The GSCI commodity index is down fractionally at 628.23, with commodities mostly lower on the stronger dollar. Orange juice, cocoa, and cotton were today’s big losers. WTI crude oil closed down -2.1% at $89.90/barrel, its lowest settlement since October, and Brent crude trades down -2.51% at $105.69/barrel. Natural gas rose just 0.52% today to $2.72/thousand cubic feet. Gold settled down -1.8% today, at $1,548.40/ounce.

The unofficial closing bells put the DJIA down nearly 7 points to 12,496.07 (-0.05%), the NASDAQ rose about 11 points (0.39%) to 2,850.12, and the S&P 500 rose 0.17% or about 2 points to 1,318.85.

There were several analyst upgrades and downgrades today, including Facebook Inc. (NASDAQ: FB) started as ‘buy’ with a target price of $40 at Needham (more coverage here); Patriot Coal Corp. (NYSE: PCX) cut to ‘hold’ at Deutsche Bank; The Blackstone Group LP (NYSE: BX) raised ‘buy’ at Sterne Agee; Applied Materials Inc. (NASDAQ: AMAT) raised to ‘neutral’ at Goldman Sachs; and Dell Inc. (NASDAQ: DELL) cut to ‘neutral’ at Mizuho and maintained as ‘underperform’ with a $14 target price at Credit Suisse.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Dell is down -16.8% at $12.55 after posting a new 52-week low of $12.31 earlier today (more coverage here); American Eagle Outfitters Inc. (NYSE: AEO) is up 1.4% at $20.07; Big Lots Inc. (NYSE: BIG) is up 4% at $36.20; Hormel Foods Corp. (NYSE: HRL) is up 1.2% at $29.54; Suntech Power Holdings Co. Ltd. (NYSE: STP) is up 1.5% at $2.01 (more coverage here); and Trina Solar Ltd. (NYSE: TSL) is up 4.9% at $5.59.

Tomorrow we are scheduled to get earnings reports from Fred’s Inc. (NASDAQ: FRED), H.J. Heinz Co. (NYSE: HNZ), MakeMyTrip Ltd. (NASDAQ: MMYT), Tiffany & Co. (NYSE: TIF), The Toronto-Dominion Bank (NYSE: TD), and Costco Wholesale Corp. (NASDAQ: COST).

Other standouts from today include the following stocks:

PetSmart Inc. (NASDAQ: PETM) is up 13.3% at $62.99 after posting a new 52-week high of $63.19 earlier today. The company reported better-than-expected earnings and forecast more good things to come.

Seagate Technology PLC (NASDAQ: STX) is down -2.4% at $25.72. The disk drive maker is buying France-based LaCie SA for $186 million.

Stay tuned for Thursday. New York Fed President William Dudley is giving a speech. We have also noted the following events on the schedule (all times Eastern):

• 8:30 a.m. – Durable goods orders
• 8:30 a.m. – New claims for unemployment benefits
• 10:30 a.m. – EIA weekly natural gas storage report
• 11:00 a.m. – Kansas City Fed manufacturing index
• 1:00 p.m. – 7-year note auction
• 4:30 p.m. – Fed balance sheet and money supply

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Paul Ausick

The post 24/7 Wall St. Closing Bell — May 23, 2012 (FB, PCX, BX, AMAT, DELL, AEO, BIG, HRL, STP, TSL, FRED, HNZ, MMYT, TIF, TD, COST, PETM, STX) appeared first on 24/7 Wall St..

The three major US stock indexes opened slightly higher this morning following their European and Asian counterparts, none of which were the least concerned about a downgrade to Japanese debt or dire predictions from the OECD and the IMF (our coverage here and here). Existing US home sales were slightly above the consensus estimate, which also helped buoy stocks this morning (our coverage here). The US dollar index rose today, now up 0.52% at 81.509. The GSCI commodity index is up fractionally at 633.25, with commodities mostly lower on the stronger dollar. Corn and cotton were today’s big losers. WTI crude oil closed down -1% at $91.66/barrel, and Brent crude trades down -0.62% at $108.13/barrel. Natural gas rose more than 3% today at $2.69/thousand cubic feet. Gold settled down -0.8% today, at $1,576.60/ounce.

The unofficial closing bells put the DJIA down about 2 points to 12,502.66 (-0.01%), the NASDAQ fell about 8 points (-.029%) to 2,839.08, and the S&P 500 rose 0.05% or less than 1 point to 1,316.63.

There were several analyst upgrades and downgrades today, including Gap Inc. (NYSE: GPS) raised to ‘buy’ at Lazard Capital; DryShips Inc. (NASDAQ: DRYS) started as ‘buy’ at Global Hunter; Domino’s Pizza Inc. (NYSE: DPZ) reiterated as ‘buy’ with a target price of $46 at Argus; LyondellBasell Industries (NYSE: LYB) started as ‘outperform’ with a target price of $60 at Credit Suisse; and Tesla Motors Inc. (NASDAQ: TSLA) started as ‘buy’ at Maxim Group.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Autozone Inc. (NYSE: AZO) is down -1.67% at $362.40; Best Buy Co. Inc. (NYSE: BBY) is up 1.3% at $18.41 (more coverage here); Ralph Lauren Corp. (NYSE: RL) is up 3.4% at $151.24 (more coverage here); Williams Sonoma Inc. (NYSE: WSM) is up 3.4% at $35.90; and Express Inc. (NYSE: EXPR) is down -26.9% at $16.88.

Tomorrow we are scheduled to get earnings reports from American Eagle Outfitters Inc. (NYSE: AEO), Big Lots Inc. (NYSE: BIG), Hormel Foods Corp. (NYSE: HRL), NetApp Inc. (NASDAQ: NTAP), Pandora Media Inc. (NYSE: P), Suntech Power Holdings Co. Ltd. (NYSE: STP), and Trina Solar Ltd. (NYSE: TSL).

Other standouts from today include the following stocks:

Patriot Coal Corp. (NYSE: PCX) is down nearly -40% at $2.22 after posting a new 52-week low of $1.36 earlier today. The coal miner was reported to be interviewing firms to help with a restructuring. Patriot issued a non-denial denial later to stem the bleeding. More coverage here and here.

Benihana Inc. (NASDAQ: BNHN) is up 21.3% at $16.13. The restaurateur is being acquired for $296 million.

Facebook Inc. (NASDAQ: FB) is down -8.6%% at $31.12 after posting a new low of $30.98 earlier today. Shares are getting pummeled again today. We’ve started a deathwatch here and here. Just search for ‘facebook deathwatch’ to get the latest dope.

Stay tuned for Wednesday. Minneapolis Fed President Naryana Kocherlakota is giving a speech. We have also noted the following events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers Association purchase applications
10:00 a.m. – New home sales
10:00 a.m. – FHFA house price index
10:30 a.m. – EIA weekly petroleum status report
1:00 p.m. – 5-year note auction

Paul Ausick

The post 24/7 Wall St. Closing Bell — May 22, 2012 (GPS, DRYS, DPZ, LYB, TSLA, AZO, BBY, RL, WSM, EXPR, AEO, BIG, HRL, NTAP, P, STP, TSL, PCX, BNHN, FB) appeared first on 24/7 Wall St..

The three major US stock indexes opened somewhat higher this morning as investors paid little attention to last night’s downgrade of Spain’s banks (more coverage here). With little economic data on tap today, US markets waited for the IPO of Facebook Inc. (NASDAQ: FB) — and waited and waited. The first trade went off about half an hour late at $42.05, well above the announced price of $38, but the stock wasn’t able to hold on to the gain, ending the day at $38.08. The US dollar index fell today, now down -0.11% at 81.291. The GSCI commodity index is down 0.04% at 633.67, with commodities mostly mixed today. Wheat is the big gainer again today, up 5.7% in Chicago and 4.9% in Kansas City. WTI crude oil closed down -1.2% at $91.48/barrel, and Brent crude trades down at -0.38% at $107.08/barrel. Natural gas continues its climb, up 5.7% today at $2.74/thousand cubic feet. Gold settled up 1.1% today, at $1,591.90/ounce, ending a four-day losing streak.

The unofficial closing bells put the DJIA down 74 points to 12,368.47 (-0.59%), the NASDAQ fell nearly 35 points (-1.24%) to 2,778.79, and the S&P 500 fell -0.74% or nearly 10 points to 1,295.17.

There were several analyst upgrades and downgrades today, including LinkedIn Corp. (NYSE: LNKD) reiterated as ‘buy’ with a target price of $135 at Canaccord Genuity; Dendreon Inc. (NASDAQ: DNDN) started as ‘sell’ at Maxim; Bank of Ireland (NYSE: IRE) cut to ‘sell’ at Deutsche Bank; Phillips 66 (NYSE: PSX) started as ‘buy’ at UBS; and Sprint Nextel Corp. (NYSE: S) raised to ‘buy’ at Guggenheim.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: ANN Inc. (NYSE: ANN) is up 3.25% at $26.69; Brown Shoe Co. Inc. (NYSE: BWS) is up 21.4% at $10.63 (more coverage here); Progressive Corp. (NYSE: PGR) is down -0.1% at $21.32; and Footlocker Inc. (NYSE: FL) is up 8.9% at $30.50.

Next week we are scheduled to get earnings reports fromTech Data Corporation (NASDAQ: TECD); Urban Outfitters Inc. (NASDAQ: URBN); Autozone Inc. (NYSE: AZO); Best Buy Co. Inc. (NYSE: BBY); Dell Inc. (NASDAQ: DELL); PetSmart Inc. (NASDAQ: PETM); Ralph Lauren Corporation (NYSE: RL); Big Lots Inc. (NYSE: BIG); and Hewlett-Packard Co. (NYSE: HPQ) among others.

Other standouts from today include the following stocks:

Renren Inc. (NYSE: RENN) is down -20% at $4.99. The Chinese Internet company is getting whacked on Facebook’s IPO. More coverage here.

GSV Capital Corp. (NASDAQ: GSVC) is down -18.6% at $13.10. The investment company had a nice hunk of Facebook shares at a very low price — all the value is in today. More coverage here.

Zynga Inc. (NASDAQ: ZNGA) is down -16.3% at $6.92 after posting a 52-week low of $6.90 earlier today. Another stock that climbed on Facebook’s back during the run-up to the IPO, shares were stopped by an automatic trigger shortly after FB shares opened today. More coverage here.

Stay tuned for Monday. Atlanta President Dennis Lockhart is giving a speech. We have also noted the following events on the schedule (all times Eastern):

• 10:00 a.m. – Existing home sales
• 10:00 a.m. – Richmond Fed manufacturing index
• 11:30 a.m. – 3- and 6-month bill auctions

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Have a great weekend!

Paul Ausick

The post 24/7 Wall St. Closing Bell — May 18, 2012 appeared first on 24/7 Wall St..

24/7 Wall St. has compiled earnings previews for some of the top companies reporting in the week ahead.  Estimates have been taken from Thomson Reuters for consensus earnings and targets and we have added in color on some companies if applicable.

These are some of the focus companies reporting earnings in the coming week: Tech Data Corporation (NASDAQ: TECD); Urban Outfitters Inc. (NASDAQ: URBN); Autozone Inc. (NYSE: AZO); Best Buy Co. Inc. (NYSE: BBY); Dell Inc. (NASDAQ: DELL); PetSmart Inc. (NASDAQ: PETM); Ralph Lauren Corporation (NYSE: RL); Big Lots Inc. (NYSE: BIG); Hewlett-Packard Co. (NYSE: HPQ); NetApp Inc. (NASDAQ: NTAP); Pandora Media Inc. (NYSE: P); Toll Brothers Inc. (NYSE: TOL); Costco Wholesale Corporation (NASDAQ: COST); Tiffany & Co. (NYSE: TIF); and VeriFone Systems Inc. (NYSE: PAY).

MONDAY, MAY 21

Tech Data Corporation (NASDAQ: TECD) is set to report and show how the outlook is for the companies which actually distribute all of the technology components and finished smartphones and consumer electronics devices around the world.  Shares were recently under $48 and the 52-week range is $38.21 to $59.29.  The consensus estimate is $1.16 EPS and $6.18 billion in revenue.

Urban Outfitters Inc. (NASDAQ: URBN) is going to show if its turnaround is closer or just still chugging along.  Estimates are $0.20 EPS and $579.2 million in revenue.  Shares were recently around $25.50 and the 52-week range is $21.47 to $33.90; the consensus target price is about $29.70.

TUESDAY, MAY 22

Autozone Inc. (NYSE: AZO) took it hard on the chin recently when rival Advance Auto warned of a difficult second quarter.  This is one of the high-priced stocks and shares are around $366 against a 52-week range of $266.25 to $399.10.  The consensus analyst target price is $419.80; estimates are $6.25 EPS and $2.13 billion in revenue; next quarter estimates are $8.47 EPS and $2.84 billion in revenue.

Best Buy Co. Inc. (NYSE: BBY) is in such disarray that we won’t even bother with the warnings and the caveats here.  Estimates are $0.60 EPS.

Dell Inc. (NASDAQ: DELL) is now trading at only about 7.5-times forward earnings.  Estimates are $0.46 EPS and $14.89 billion in sales.  Earnings have been choppy on guidance but the PC makers and components makers are all talking up the release of Windows 8 as a new catalyst.  With shares trading just under $15.00, the 52-week range is $13.29 to $18.36 and the consensus price target is almost $19.50.

PetSmart Inc. (NASDAQ: PETM) has been a steady “beat earnings and raise guidance” outfit as Americans will pay endless and countless dollars on Fido and Fifi.  Estimates are $0.73 EPS and $1.6 billion in revenue. With shares around $56.00, the 52-week high is $59.36.

Ralph Lauren Corporation (NYSE: RL) has sold off nearly $40 from its highs since March.  The question is how its business has been holding up in slowing markets even if the U.S. sales have been strong.  Estimates are $0.83 EPS and $1.6 billion in sales.  With shares around $143 the 52-week range is $105.00 to $182.48 and the consensus price target from analysts is just over $190.00.

WEDNESDAY, MAY 23

Big Lots Inc. (NYSE: BIG) should be called “Warning Lots” because it has lowered guidance and been hard on two different waves.  With shares under $35 and against a high of $47.22, the premium values of the dollar stores may and discounters may be hurting here.  On the flip side, the bar has been set extremely low.  Estimates are $0.69 EPS and $1.3 billion in revenue.

Hewlett-Packard Co. (NYSE: HPQ) is now around the $22 handle and the news of another 25,000 or more in layoffs (versus 350K as of October 31, 2011) is not helping the growth hopes.  Estimates are $0.91 EPS and $29.92 billion in sales.  The stock now trades at about 6-times earnings, but the consensus price target is down to just over $29.00 as no one wants to pay up for the valuation of this DJIA component.

NetApp Inc. (NASDAQ: NTAP) has been pounded and the last 45 days has looked like a downward staircase on its chart.  At about $34.00, the 52-week range is $33.00 to $56.49 and the consensus price target objective is just over $47.00.

Pandora Media Inc. (NYSE: P) is no longer market-influencing, but it is a cult stock and the earnings could create a large gain or a large drop.  With shares under $10.50, the post IPO range is $7.83 to $26.00.  Estimates are -$0.17 EPS and $74.3 million in revenue.  Can the company make it to profitability by the end of next year?

Toll Brothers Inc. (NYSE: TOL) is expected to be profitable.  A profitable homebuilder!  At $25.50, the 52-week range is $13.16 to $27.80.  A lot of good news already has to be priced in, so we would want to expect upside to remain positive here.  Estimates are $0.04 EPS and $381.9 million in revenue.

THURSDAY, MAY 24

Costco Wholesale Corporation (NASDAQ: COST) almost always beats its earnings estimates.  At $83.75 the 52-week range is $70.22 to $92.10; analysts have a target price of $86.80 or so.   Estimates are $0.87 EPS and $22.1 billion in revenue.

Tiffany & Co. (NYSE: TIF) has come off of its highs significantly and this is the king of jewelry stores for investors.  There will have been two smaller reports ahead of Tiffany in the week with Fred’s and Zale.  Estimates for Tiffany are $0.69 EPS and $816.8 million.  With shares under $61.00, the 52-week range is $56.21 to $84.49 and the consensus price target is $75.63.

VeriFone Systems Inc. (NYSE: PAY) has pulled back by about 20% from its highs, but the woes of the company seem to be behind it.  At $44.80, the 52-week range is $30.25 to $55.89 and the consensus analyst price target is $54.10.  Estimates are $0.61 EPS and $471.5 million in revenue.

As a reminder, dates and estimates can change ahead of earnings and some may have already changed.

JON C. OGG

The post The Top Earnings Previews For The Week Ahead (TECD, URBN, AZO, BBY, DELL, PETM, RL, BIG, HPQ, NTAP, P, TOL, COST, TIF, PAY) appeared first on 24/7 Wall St..

These are some of the top analyst upgrades, downgrades and initiations seen in Wall Street research calls this Thursday.

ARM Holdings PLC (NASDAQ: ARMH) Raised to Market Perform at Bernstein.

Big Lots Inc. (NYSE: BIG) Raised to Overweight at Barclays.

Chesapeake Midstream Partners, L.P. (NYSE: CHKM) Started as Outperform at Credit Suisse.

Cisco Systems Inc. (NASDAQ: CSCO) Reiterated Buy with $24 target at Argus.

Cost Plus Inc. (NASDAQ: CPWM) Cut to Neutral at Wedbush.

Dolby Labs, Inc. (NYSE: DLB) Cut to Neutral at JPMorgan.

Human Genome Sciences Inc. (NASDAQ: HGSI) Cut to Market Perform at Leerink Swann.

JDS Uniphase Corporation (NASDAQ: JDSU) Raised to Buy at UBS.

Linn Energy, LLC (NASDAQ: LINE) Started as Outperform at Credit Suisse.

3M Co. (NYSE: MMM) Cut to Market Perform at Bernstein.

National Oilwell Varco Inc. (NYSE: NOV) Maintained Buy but cut target to $90 at Argus.

Oracle Corporation (NASDAQ: ORCL) Cut to Hold at ThinkEquity.

Regency Energy Partners LP (NYSE: RGP) Started as Outperform at Credit Suisse.

Tempur-Pedic International Inc. (NYSE: TPX) Raised to Strong Buy at Raymond James.

Tesoro Logistics LP (NYSE: TLLP) Started as Outperform at Credit Suisse.

Teva Pharmaceutical Industries Limited (NASDAQ: TEVA) Cut to Hold at Needham.

Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) Cut to Outperform at RBC.

If you enjoyed the top analyst upgrades and downgrades, you can join our free email newsletter that includes analyst summaries each morning sent right to your inbox.  We also cover top issues such as IPOs, special financial exclusives, mergers and more. Sign up in the box below.

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JON C. OGG

The post Top Analyst Upgrades & Downgrades (ARMH, BIG, CHKM, CSCO, CPWM, DLB, HGSI, JDSU, LINE, MMM, NOV, ORCL, RGP, TPX, TLLP, TEVA, VRTX) appeared first on 24/7 Wall St..

Wal-Mart Stores Inc. (NYSE: WMT) is still deep in the soup.  Since the news broke over the weekend over bribes in Mexico involving its current and former top-brass, Wal-Mart shares have slid and slid.  The drop in late Wednesday trading is down only 0.3% to $57.60, but this was a $62.45 stock on Friday.

Wal-Mart’s stock almost never moves this much from start to finish in a 3-day period and the shares are approaching an oversold level.  The problem in trusting any chart at this point is that the news flow and headline risk remains greater than the odds that the headlines will suddenly become good here.

We recently noted that options trades were betting on Wal-Mart shares going down to $56.50 os so by mid-June and ultimately to $55.50 or so by mid-September. Shares were down 4.7% to $59.50 at that time, but now they are down to the $57.60 level.

If we use the December 2012 PUT OPTIONS today, the bets are still strong on the downside.  In the DEC-2012 $55.00 PUTS we have seen 2,730 contracts trade against a listed open interest of only 219 contracts.  There were also in the same month $60.00 PUTS some 5,204 contracts traded so far today against a prior open interest of only 155 contracts.  This may be a hedge or a roll, but the implication is that either Wal-Mart is headed down to $52.50 or so in December.  If the bet is not that the stock falls that far, then it is a synthetic long where an investor is willing to take delivery of shares at just under $52.50 just a few days before Christmas.

What is so interesting about the Wal-Mart news is that investors have not gone out and started rewarding rival Target Corporation (NYSE: TGT).  The king of dollar stores is Dollar General Corporation (NYSE: DG) and it and other rivals have not been amply rewarded.  Part of the blame on a negative retail sector may be on stores like Big Lots Inc. (NYSE: BIG) with its downward guidance effectively having taken shares down from $45 to $35 this week.

Maybe Wal-Mart can get saved by statutes of limitation.  Maybe it can sneak its way out of this.  Unfortunately, the negative pressure that Wal-Mart had been getting away from is back and this pressure is unlikely to go away in an instant.  The good news is that the allegations are all in the past rather than the current corporate culture, but the bad news is that the pressure here could end up toppling management at the highest levels of the world’s largest retailer.

The long and short of the matter is that U.S. companies are expected to uphold certain ethical rules and practices.  Bribes are illegal, even if companies do not get punished for the activity on the foreign soil.

The flip-side to this is that no one will really be able to address (nor really fix) the underlying issue: doing business and Mexico and in Latin America is not quite as straightforward as ‘ethics officers’ would hope.  Outright bribes, gifts, donations, and other business enhancing methods are all just a small part of the business culture once you go south of Texas, News Mexico, Arizona, and California.

JON C. OGG

The post Options Take: Pressure To Remain On Wal-Mart Woes (WMT, TGT, DG, BIG) appeared first on 24/7 Wall St..

Markets opened mixed this morning, with the DJIA showing much more strength than the S&P 500, which opened higher, or the Nasdaq, which opened lower. The S&P Case-Shiller house price index showed another decline in home prices (our coverage here), although new home sales rose slightly. The Conference Board’s consumer confidence index was lower this month as well (our coverage here). Tech stocks have been weak all day as sentiment about the Apple Inc. (NASDAQ: AAPL) earnings report faltered following comments from AT&T Inc. (NYSE: T) related to iPhone connections (our coverage here). The US dollar index fell today, now down -0.25% at 79.220. The GSCI commodity index is down -0.28% at 675.82, with commodities mostly rising on the weaker dollar. WTI crude oil closed up 0.4% at $103.55/barrel, and Brent crude trades down -0.48% at $118.14/barrel. Gold settled up 0.7% today, at $1,643.80/ounce.

The unofficial closing bells put the DJIA up about 74 points to 13,001.56 (0.58%), the NASDAQ fell nearly 9 points (-0.30%) to 2,961.60, and the S&P 500 rose 0.37% or about 5 points to 1,371.97.

There were several analyst upgrades and downgrades today, including Xerox Corp. (NYSE: XRX) reiterated ‘buy’ with a target price of $13 at Argus; General Electric Co. (NYSE: GE) reiterated ‘buy’ with a target price of $22 at Argus; LinkedIn Corp. (NYSE: LNKD) started as ‘overweight’ at Piper Jaffray; Big Lots Inc. (NYSE: BIG) cut to ‘hold’ at Deutsche Bank; and AutoZone Inc. (NYSE: AZO) raised to ‘overweight’ at JPMorgan.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: AT&T is up 3.9% at $31.81; Air Products and Chemicals Inc. (NYSE: APD) is down -4.3% at $84.91; Baker Hughes Inc. (NYSE: BHI) is up 5.3% at $43.23 (more coverage here); Coach Inc. (NYSE: COH) is down -4% at $72.10 (more coverage here); Illinois Tool Works Inc. (NYSE: ITW) is up 2.7% at $56.71; McGraw-Hill Companies Inc. (NYSE: MHP) is down -3% at $47.65; RadioShack Corp. (NYSE: RSH) is down -10.3% at $5.36 after posting a new 52-week intraday low of $5.27; Regions Financial Corp. (NYSE: RF) is up 5.4% at $6.42; The Hershey Co. (NYSE: HSY) is up 5.7% at $65.86 after posting a new 52-week intraday high of $66.94; and Netflix Inc. (NASDAQ: NFLX) is down -14.6% at $87.01.

Other standouts from today include the following stocks:

International Business Machines Corp. (NYSE: IBM) is up .0.8% at $200.24. The tech giant raised its dividend today. More coverage here.

North American Tankers Ltd. (NYSE: NAT) is up 1.5% at $14.01. Shipping rates for dry bulk shippers are rising and tanker rates, especially for the smaller (1 million barrels) crude carriers of the Suezmax class. Many other shippers are also getting a boost today, including Eagle Bulk Shipping Inc. (NASDAQ: EGLE), which is up 6.8% at $1.88.

Stay tuned for Wednesday. The Federal Reserve Open Market Committee wraps up its two-day meeting and Chairman Ben Bernanke will hold a press conference this afternoon. We have noted the following events on the schedule (all times Eastern):

• 7:00 a.m. – Mortgage Bankers Association purchase applications
• 8:30 a.m. – Durable goods orders
• 10:30 a.m. – EIA weekly petroleum status report
• 11:30 a.m. – 5-yr note auction
• 2:00 p.m. – FOMC forecasts

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Paul Ausick

The post 24/7 Wall St. Closing Bell (AAPL, T, XRX, GE, LNKD, BIG, AZO, APD, BHI, COH, ITW, MHP, RSH, RF, HSY, NFLX, IBM, NAT, EGLE) appeared first on 24/7 Wall St..

These are some of the top analyst upgrades, downgrades and initiations seen in Wall Street research calls this Tuesday.

Allison Transmission Holdings, Inc. (NYSE: ALSN) Started as Neutral at Credit Suisse; Started as Neutral at Goldman Sachs; Started as Neutral at Citigroup.

AutoZone Inc. (NYSE: AZO) Raised to Overweight at JPMorgan.

Big Lots Inc. (NYSE: BIG) Cut to Hold at Deutsche Bank.

Check Point Software Technologies Ltd. (NASDAQ: CHKP) Maintained Hold at Argus.

Chipotle Mexican Grill, Inc. (NYSE: CMG) Cut to Neutral on valuation at Credit Suisse; Reiterated Buy with $480 target at Argus.

Citi Trends, Inc. (NASDAQ: CTRN) named Bear of the Day at Zacks.

Demandware, Inc. (NYSE: DWRE) Started as Buy at Deutsche Bank; Started as Outperform at William Blair; Started as Outperform at Oppenheimer; Started as Neutral at Goldman Sachs.

General Electric Co. (NYSE: GE) Reiterated Buy with $22 target at Argus.

Illumina, Inc. (NASDAQ: ILMN) Reiterated Buy with $54 target at BofA/ML.

LinkedIn Corporation (NYSE: LNKD) Started as Overweight at Piper Jaffray.

Pep Boys-Manny, Moe & Jack Inc. (NYSE: PBY) Cut to Sell at Argus.

Rambus Inc. (NASDAQ: RMBS) Raised to Overweight at JPMorgan.

Texas Instruments Inc. (NASDAQ: TXN) Reiterated Buy with $36 target at BofA/ML.

UnitedHealth Group (NYSE: UNH) named Bull of the Day at Zacks.

Xerox Corporation (NYSE: XRX) Reiterated Buy with $13 target at Argus.

If you enjoyed the top analyst upgrades and downgrades, you can join our free email newsletter that includes analyst summaries each morning sent right to your inbox.  We also cover top issues such as IPOs, special financial exclusives, mergers and more. Sign up in the box below.

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JON C. OGG

The post Top Analyst Upgrades & Downgrades (ALSN, AZO, BIG, CHKP, CMG, CTRN, DWRE, GE, ILMN, LNKD, PBY, RMBS, TXN, UNH, XRX) appeared first on 24/7 Wall St..

The major US stock indexes opened lower this morning following some weak data on European unemployment. Buyers tried to come back but low volume so far has kept trading lower, and a last-minute rally seems to have gone nowhere. The dollar is stronger today, with the dollar index up 0.75% at 79.379. The stronger dollar is pushing some commodities down, with crude oil the hardest hit. WTI crude closed down -2% at $106.70/barrel and Brent crude is down -1.84% at $123.88/barrel. Gold settled down -0.7% at $1,709.80/ounce.

The unofficial closing bells put the DJIA down nearly 3 points to12,977.57 (-0.02%), the NASDAQ fell nearly 13 points -0.43%) to 2,976.19, and the S&P 500 fell -0.32% or nearly 4.5 points to 1,369.63.

There were several analyst upgrades and downgrades today, including Travelers Companies (NYSE: TRV) cut to ‘equal weight’ at Morgan Stanley; Lowe’s Companies (NYSE: LOW) raised to ‘equal weight’ at Morgan Stanley; Motorola Solutions Inc. (NYSE: MSI) raised to ‘outperform’ at Credit Suisse; MetroPCS Communications Inc. (NYSE: PCS) maintained as ‘buy’ with $15 target price at Argus; and Monster Worldwide Inc. (NYSE: MWW) cut to ‘neutral’ at UBS.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Big Lots Inc. (NYSE: BIG) is down -4.2% at $42.61; Genesco Inc. (NYSE: GCO) is up 4.2% at $73.58 after posting a new 52-week high of $74.89 earlier today; Biofuel Energy Corp. (NASDAQ: BIOF) is up 5.5% at $0.76; and Einstein Noah Restaurant Group Inc. (NASDAQ: BAGL) is up 3.6% at $14.99.

Here’s our preview of next week’s earnings announcements.

Other standouts from today include the following stocks:

Yelp Inc. (NYSE: YELP) is up nearly 64% at $24.55 following its IPO at $15/share this morning. Move coverage here.

Shutterfly Inc. (NASDAQ: SFLY) is up 16% at $31.22. The social networking company has struck a deal with Eastman Kodak Co. (EKDKQ) to provide a stalking-horse bid for some of Kodak’s assets. More coverage here.

Vringo Inc. (AMEX: VRNG) is up more than 13% at $1.63. The social network app maker is probably getting a bump from the success of Yelp’s IPO.

U.S. Auto Parts Network Inc. (NASDAQ: PRTS) is down more than -19% at $4.00. The retail parts auto parts distributor missed consensus estimates last night.

Overstock.com Inc. (NASDAQ: OSTK) is down more than -11% at $6.11 after posting a new 52-week low of $5.89 earlier this morning. The online discounter posted an unexpectedly quarterly loss this morning.

Stay tuned for Monday. We have noted the following events on the schedule (all times Eastern):

• 10:00 a.m. – Factory orders
• 10:00 a.m. – ISM non-manufacturing index
• 11:30 a.m. – 3- and 6-month Treasury bill auction

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Have a great weekend!

Paul Ausick

The post 24/7 Wall St. Closing Bell (TRV, LOW, MSI, PCS, MWW, BIG, GCO, BIOF, BAGL, YELP, SFLY, VRNG, PRTS, OSTK) appeared first on 24/7 Wall St..

Discount retailer Big Lots Inc. (NYSE: BIG) reported fourth quarter and full year results for its fiscal 2011 ending in January 2012. The company reported quarterly EPS of $1.75, beating the consensus estimate of $1.73, and net sales of $1.67 billion, slightly better than the $1.66 billion estimate. For the full year, Big Lots posted EPS of $2.99 on total sales of $5.2 billion, both record-setting levels for the company and both slightly better than consensus estimates.

Big Lots also offered guidance for the current quarter and for its 2012 fiscal year:

• Initial fiscal 2012 adjusted income from continuing operations projected to be $3.40 to $3.50 per diluted share (non-GAAP); a 14% to 17% increase over fiscal 2011
• Comparable store sales expected to increase 2% to 3% for U.S. stores
• Anticipate 90 new store openings in the U.S.
• Initial cash flow guidance estimated to be approximately $200 million

The consensus estimate for 2012 EPS had been $3.46.

Shares are up slightly, 0.11%, at $44.54 in pre-market trading. The stock’s 52-week range is $28.89-$44.82. A new high could be on tap for Big Lots today, which has a consensus price target of $47.17.

The post Big Lots Beats Estimates, Pumps Guidance (BIG) appeared first on 24/7 Wall St..

The unofficial closing bells put the DJIA down less than 1 point to 12,019.42 (-0.01%), the NASDAQ rose less than 1 point (0.03%) to 2,626.93, and the S&P 500 fell 0.02% or less than 1 point to 1,244.28. Folks, that’s flat!

There were several analyst upgrades and downgrades today, including Lululemon Athletica Inc. (NASDAQ: LULU) raised to ‘buy’ at KeyBanc. Other ratings action Cliffs Natural Resources Inc. (NYSE: CLF) raised to ‘outperform’ at Credit Suisse; Domino’s Pizza Inc. (NYSE: DPZ) started as ‘hold’ at KeyBanc; Western Refining Inc. (NYSE: WNR) raised to ‘outperform’ at Credit Suisse; Sina Corp. (NASDAQ: SINA) raised to ‘buy’ at Deutsche Bank; and Guess? Inc. (NYSE: GES) cut to ‘neutral’ at Citigroup.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading:
Big Lots, Inc. (NYSE: BIG) is down -8.6%% at $36.34; Zumiez Inc. (NASDAQ: ZUMZ) is up 23.9% at $28.95; Royal Bank of Canada (NYSE: RY) is up 3.4% at $47.82; and Bank of Nova Scotia (NYSE: BNS) is down -3.1% at $48.08.

Several other standouts from today are as follows…

YRC Worldwide Inc. (NASDAQ: YRCWD) is up 29.7% at $12.61. The freight hauler concluded a 1-for-300 reverse split that drove the share price to $9 from $0.03.

Western Digital Corp. (NYSE: WDC) is up about 7% at $31.30. The computer disk drive maker announced that it was resuming operations at one of its flooded Thai plants and raised its revenue estimate for the current quarter. More details here.

Research in Motion Ltd. (NASDAQ: RIMM) is down about -9.6% at $16.79. The smartphone and tablet maker announced an inventory writedown of $485 million for unsold PlayBook tablets and said that full-year earnings would be lower. Detailed coverage here.

Tenet Healthcare Corp. (NYSE: THC) is down more than -10% at $4.20. The health care facilities operator likely is suffering from a lowered target price from BMO Capital Markets with rating of ‘market perform’.

JA Solar Holdings Co. Ltd. (NASDAQ: JASO) is down nearly -7% at $1.74. The solar PV maker is likely giving back gains made over the past two days. The was little reason for the gain in the first place, so that investors are taking it back should be no surprise.

Stay tuned for Monday. We have noted a speech due from Chicago Federal Reserve President Charles Evans and short-term Treasury bill auctions in the morning. Here are other noteworthy events scheduled for Monday (all times Eastern):

• 10:00 a.m. – Census Bureau factory orders report
• 10:00 a.m. – Industrial Supply Management non-manufacturing index

Have a great weekend.

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Paul Ausick

The post 24/7 Wall St. Closing Bell (LULU, CLF, DPZ, WNR, SINA, GES, BIG, ZUMZ, RY, BNS, YRCWD, WDC, RIMM, THC, JASO) appeared first on 24/7 Wall St..

With one holiday down and another on deck, the coming week offers something of a breather. Most quarterly earnings are out already, but there are several due next week that could be interesting. The following companies are among those reporting earnings next week: Zoltek Companies Inc. (NASDAQ: ZOLT), Tiffany & Co. (NYSE: TIF), Aeropostale Inc. (NYSE: ARO), American Eagle Outfitters Inc. (NYSE: AEO), Barnes & Noble Inc. (NYSE: BKS), Jos. A. Banks Clothiers Inc. (NASDAQ: JOSB), Lululemon Athletica Inc. (NASDAQ: LULU), Zumiez Inc. (NASDAQ: ZUMZ), and Big Lots Inc. (NYSE: BIG).

Tuesday

Zoltek Companies Inc. (NASDAQ: ZOLT) makes the lightweight carbon fiber composites used in a variety of high-tech products including wind turbine blades. The company has posted four straight quarterly EPS losses and this quarter is not expected to reverse that trend. Zoltek is expected to post an EPS loss of -$0.02 on revenue of $44.5 million for its third quarter ended in September.

Tiffany & Co. (NYSE: TIF) is expected to ride the wave of better earnings at luxury retailers. The consensus estimate is for EPS of $0.61 on revenue of $802.1 million, compared with EPS of $0.46 on revenue of $681.7 million in the same period a year ago.

Wednesday

Aeropostale Inc. (NYSE: ARO) is a mall-based retailer of teen clothing. The consensus estimates call for EPS of $0.28 on revenue of $576.4 million. A year ago the company posted EPS of $0.67 on revenue of $602.8 million. The company posted an EPS loss of -$0.02 in its July quarter this year.

American Eagle Outfitters Inc. (NYSE: AEO) is another clothing retailer with offerings aimed at a wider range of ages than is Aeropostale. The consensus estimates call for EPS of $0.27 on $781 million in revenue. In the same period last year, American Eagle posted EPS of $0.29 on $751.5 million in revenue.

Thursday

Jos. A. Banks Clothiers Inc. (NASDAQ: JOSB) is a men’s clothing store with more than 500 outlets in 42 states. The consensus estimates call for EPS of $0.51 on $196 million in revenue. A year ago, Banks posted EPS of $0.45 on $173.3 million in revenue.

Lululemon Athletica Inc. (NASDAQ: LULU) makes athletic apparel for men, women, and children and operates about 148 stores in the US, Canada, and Australia. The consensus estimates call for EPS of $0.25 on $235.9 million in revenue. In the same period last year, the company posted EPS of $0.18 on revenue of $175.8 million.

Zumiez Inc. (NASDAQ: ZUMZ) offers athletic apparel and other sporting goods to teens and young adults at more than 430 stores in the US and Canada. The consensus estimates call for EPS of $0.42 on $153.1 million in revenue. Last year the company posted EPS of $0.40 on revenue of $135.9 million.

Barnes & Noble Inc. (NYSE: BKS) has been integrating its acquisition of the assets of the failed Borders chain and recently introduced a new version of its Nook e-reader to compete with the new Kindles from Amazon.com (NASDAQ: AMZN). The consensus estimates call for EPS of $0.02 on $1.98 billion in revenue. Last year in the same period the company posted an EPS loss of -$0.13 on revenue of $1.91 billion. B&N has missed EPS estimates for the last four quarters.

Friday

Big Lots Inc. (NYSE: BIG) operates more than 1,500 closeout stores in the US and Canada. The consensus estimates call for EPS of $0.09 on $1.13 billion in revenue. A year ago the company posted earnings of $0.23 on $1.06 billion in revenue.

Other Happenings Next Week

On Monday we get the new home sales report from the federal government.

Tuesday sees the release of the latest Case-Schiller housing price index, the Conference Board’s Consumer Confidence index, the State Street Investor Confidence index, and speeches from two Federal Reserve Bank presidents, Janet Yellen and Narayana Kocherlakota.

On Wednesday the Mortgage Bankers Association reports purchase applications, the Challenger Job-cut report, the ADP employment report, the Chicago purchasing manager’s index (PMI), and the release of the Fed’s Beige Book.

Thursday’s reports include chain store sales, motor vehicle sales, the Industrial Supply Managment (ISM) manufacturing index, and a report on construction spending.

Friday closes out the week with the report from the Census Bureau and the Department of Labor on the employment situation.

Have a great weekend!

Paul Ausick

The post 24/7 Wall St. Preview – Week of November 28 – December 2 (ZOLT, TIF, ARO, AEO, BKS, JOSB, LULU, ZUMZ, BIG) appeared first on 24/7 Wall St..

These are some of Wednesday’s top analyst upgrades, downgrades, and initiations seen from Wall Street research calls.

Aetna, Inc. (NYSE: AET) named Bull of the Day at Zacks.
Big Lots Inc. (NYSE: BIG) Cut to Equal-Weight at Barclays.
CIT Group Inc. (NYSE: CIT) Started as Hold at Jefferies.
Focus Media Holding Ltd. (NASDAQ: FMCN) Cut to Neutral at JPMorgan.
Gilead Sciences Inc. (NASDAQ: GILD) Cut to Hold at Argus.
JA Solar Holdings Co., Ltd. (NASDAQ: JASO) Cut to Sell at ThinkEquity.
LDK Solar Co., Ltd. (NYSE: LDK) Cut to Sell at ThinkEquity.
McDermott International (NYSE: MDR) named as Bear of the Day at Zacks.
Micron Technology Inc. (NASDAQ: MU) Raised to Buy at Citigroup.
Senior Housing Properties Trust (NYSE: SNH) Raised to Buy at Stifel Nicolaus.
Veolia Environnement S.A. (NYSE: VE) Raised to Overweight at HSBC.
World Fuel Services Corporation (NYSE: INT) named value stock of the day at Zacks.

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JON C. OGG

The post Top Analyst Upgrades & Downgrades (AET, BIG, CIT, FMCN, GILD, JASO, LDK, MDR, MU, SNH, VE, INT) appeared first on 24/7 Wall St..

Markets opened lower this morning, and a modest gain of 80,000 non-farm jobs and a slight improvement of the US unemployment rate to 9.0% didn’t lift investors’ spirits before the opening. Today’s confidence vote in Greece kept financial stocks down as investors try to figure out what it will mean if the Greek prime minister is booted out and the country doesn’t accept the latest batch of austerity tied to the country’s $180 billion bail-out package. The IPO of Groupon Inc. (NASDAQ: GRPN) went off at $20, with shares rising to $31.44 before pulling back to $26.11 in the last half hour of trading. Crude oil is basically flat and gold has pulled back less than -0.5%. The dollar is slightly stronger against both the euro and the yen, putting weight on commodities.

The unofficial closing bells put the DJIA down more than 61 points to 11,983.32 (-0.51%), the NASDAQ fell more than 11 points (-0.44%) to 2,686.15, and the S&P 500 fell -0.63% or more than 7 points to 1,253.23.

There were several analyst upgrades and downgrades today, including Big Lots, Inc. (NYSE: BIG) raised to ‘outperform’ at Wedbush. Delta Air Lines (NYSE: DAL) was raised to ‘outperform’ at Zack’s and was named the firm’s Bull of the Day; Royal Gold Inc. (NASDAQ: RGLD) was cut to ‘sector perform’ at National Bank; SandRidge Energy Inc. (NYSE: SD) was cut to ‘hold’ at Stifel Nicolaus; Sunpower Corp. (NASDAQ: SPWRA) was cut to ‘underperform’ at Macquarie; and Trina Solar Ltd. (NYSE: TSL) was cut to ‘neutral’ at Macquarie. We noted a change in the solar sector earlier today.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: Starbucks Corp. (NASDAQ: SBUX) is up about 6.4%, at $44.04, after posting a new 52-week high earlier in the day; LinkedIn Corp. (NASDAQ: LNKD) is down more than -6%, at $82.09; Analysts International Corp. (NASDAQ: ANLY) is up nearly 28%, at $4.67; Oxigene, Inc. (NASDAQ: OXGN) is down -33%, at $1.22; Rosetta Stone, Inc. (NYSE: RST) is down more than -23%, at $7.77, after posting a new low earlier today; and MasTec, Inc. (NYSE: MTZ) is down -20%, at $17.52.

Several other standouts from today are as follows…

Alon USA Energy, Inc. (NYSE: ALJ) is up nearly 46%, at $11.40. The Israeli-based oil refiner has struck a deal to receive 25,000 barrels/day of WTI crude at its Louisiana refinery, which will give its margins a sharp boost.

DragonWave, Inc. (NASDAQ: DRWI) is up 36%, at $4.91. The company has agreed to buy the microwave business from the joint venture Nokia Siemens Networks.

SemiLEDS Corp. (NASDAQ: LEDS) is up nearly 37%, to $4.04. The company got a huge boost from the Chinese government’s announcement that it will ban incandescent light bulbs beginning next year.

Chesapeake Energy Corp. (NYSE: CHK) is down more than -6%, at $27.24. The company reported better-than-expected earnings this morning, but asset sales to generate cash are causing concerns among investors.

Imperial Sugar Co. (NASDAQ: IPSU) is down more than -12%, at $6.01, after posting a new 52-week low of $5.75 earlier today. The company is suspending its quarterly dividend.

Seattle Genetics Inc. (NASDAQ: SGEN) is down about -18%, at $18.02. The shares posted an all-time high earlier this week, but the stock price run-up may have exaggerated the company’s growth prospects.

Stay tuned for Monday. Boston Federal Reserve president Eric Rosengren is giving a speech in the morning. We have noted the following events (all times Eastern):

• 11:00 a.m. – Four-week Treasury bill announcement
• 11:30 a.m. – Three- and six-month Treasury bill auction
• 3:00 p.m. – Federal Reserve consumer credit report

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Paul Ausick

The post 24/7 Wall St. Closing Bell (GRPN, BIG, DAL, RGLD, SD, SPWRA, TSL, SBUX, LNKD, ANLY, OXGN, RST, MTZ, ALJ, DRWI, LEDS, CHK, IPSU, SGEN) appeared first on 24/7 Wall St..