Börsipäev 4. aprill
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Prudential initiates General Motors (GM 31.47) with an Underweight and sets a $26 tgt, as they believe the co has yet to fully address key structure issues facing its business, including the weakness of its dealer body and supply base, its lack of globally integrated design and manufacturing operations and its relationship with the UAW
Prudential initiates Honda Motor (HMC 35.49) with an Overweight and sets a $46 tgt, as changes in the US market, specifically the trend of consumer preference for smaller, more fuel efficient cars, appears to be having the greatest positive impact on Honda's global business of selling automobiles, motorcycles and power products.
Stifel Nicolaus upgrades Cymer (CYMI 41.58) to Buy from Hold and sets a $54 tgt, based on their view a fundamental bottom is near, immersion lithography will gain traction in '07-'08, which would directly benefit Cymer and help it outperform the overall industry capex growth rate and a strengthening balance sheet and improved cash flow
Stifel Nicolaus upgrades KLA-Tencor (KLAC 54.22) to Buy from Hold and sets a $67 tgt, based on their view that a fundamental bottom is near, a sustained order flow to meet the production needs for leading edge manufacturing and an aggressive use of its cash through acquisitions and buybacks.
Stifel Nicolaus upgrades Photronics (PLAB 15.36) to Buy from Hold and sets a $21 tgt, based on a revised industry view that a fundamental bottom is near and '08 will represent a recovery and robust upturn scenario, an improved competitive position at the leading edge and potential upside in its emerging flat panel display mask business
Suntrust cuts their Q1 and 2007 EPS ests for CP. Firm notes that the co announced on March 30 that discussions with the Teamsters representing CP maintenance of way employees in Canada concluded with no agreement. Yet firm expects that if a strike does occur, it will be short-lived. However, CP also mentioned a very rough winter season, and with 12 weeks of carloading and intermodal data, firm says this suggests that overall carloadings will be down by approx 4%.
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Crude tumbles as Iranian president pardons UK sailors
CNN seda veel ei kinnita. -
Nagu Alo juba ütles, siis täna tiirlevad sellised teated, et Iraan on otsustanud 15 kinnipeetud britti lõpuks vabastada. On see siis huumori või erilise ülbusega välja öeldud fraas, jäägu juba igaühe enda otsustada, kuid fakt on see, et britid vabastakse kui ‘kingitus’ Suurbritanniale. Lisaks naftahinna langusele, kukkus selle teate peale ka kuld ca $6 untsist $675 peale.
Friedman Billings kommenteerib Accredited Home Lendersi(LEND) tegevust, pärast eileõhtust uuendatud tegevusaruande esitamist LENDi poolt, mida FRB hindab lühiaja perspektiivis positiivseks. Pikas perspektiivis on probleeme veel aga küllaga ees.
Freidman Billings notes that after the market close Tuesday, LEND issued an operational update which firm characterized as a near-term positive, but still indicative of the challenges facing the co. Specifically, the liquidity position has been bolstered with $350 mln of cash on hand at March 31, and the renewal of several warehouse lines of credit. Furthermore, firm says an additional warehouse lender has indicated an interest in extending credit. Firm says whole loan premiums will need to improve for the business model to remain viable. As a result of the operational update, firm is lowering their FY07 EPS est from ($1.46) to ($11.28), of which approx $4.31 reflects their est of a 75% reduction in the value of the deferred tax asset. Firm cuts tgt from $28 to $12, reflecting the projected substantial decline in book value.
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Sel ajal kui Dendreon(DNDN) on olnud kuum teema, on väga jõudsasti liikunud ka üks väiksem biotehnoloogia ettevõte Cell Genesys(CEGE). Täna kommenteeris olukorda Cantor Fitzgerald, kelle arvates kauplevad CEGE aktsiad pea kaks korda madalamatel tasemetel, kui nad seda teha võiks. Põhjuseks positiivsed tulemused Phase II teistkordsetelt katsetelt.
Cantor Fitzgerald notes yesterday, CEGE announced positive final results from its second Phase II clinical trial of GVAX in patients with advanced metastatic hormone-refractory prostate cancer. Of the 80 patients enrolled in the study who received escalating doses of GVAX, 22 patients received the same dose used in the ongoing Phase III clinical trials. The median survival of these patients was 35 months, consistent with data from 34 patients in the first Phase II trial with median survival of 26.2 months. Firm thinks CEGE delivered a solid quarter overall and expect continuing progress in its late stage trials and partnering. As such, they think CEGE remains undervalued and reiterate their BUY rating and $12 price target.
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Shark tuletab täna väikeinvestoritele meelde, et nende portfellide suuruse tõttu on just väikeinvestoritel võimalik oma positsioone väga kiiresti ümber mängida. Suured fondid on sunnitud oma otsuste tegemisel lähtuma pikaajalistest nägemustet, kuid väikeinvestoritel on võimalus oma nägemust oluliselt tihdamini korrigeerida vastavalt turu käitumisele.
Take Advantage of Your Small Size
By Rev Shark
RealMoney.com Contributor
4/4/2007 8:15 AM EDT
Click here for more stories by Rev Shark
"Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment."
-- Buddha
There has never been a time when there have not been very strong arguments for both sides of the market. You can always find compelling and logical bullish and bearish arguments no matter what is going on out there. That really isn't that surprising, since difference of opinion is what makes a market. However, the fact that there are insightful and compelling arguments for both sides of the market makes our job quite a bit more difficult.
Most people approach the market by adopting either a bullish or bearish viewpoint and then acting accordingly. They anticipate how things will play out and position themselves to benefit should they be right.
That approach makes a lot of sense for big institutions, funds and the like who must invest billions of dollars and need some time to position themselves. It makes far less sense for small individual investors who can reposition themselves in a matter of minutes. Unfortunately, most individual investors sacrifice the great benefit of being flexible by adopting a rigid view of the market. Rather than being willing to react quickly as conditions change, they anticipate what might happen next week and forgo the opportunities in front of them today.
The action yesterday was a particularly good case in point. If you have been paying attention to the negative news flow that has dominated lately, it made sense to be cautious. There is little question that issues such as weak housing, mortgage defaults and persistent inflation are still out there. However, if you anticipated the negative impact from these worries too much, then you would have missed out on a very strong rally.
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Ülespoole avanevad:
Gapping up on strong earnings/guidance: HAYZ +4.2%... Other news: PSDV +47.0% (signs $165 mln collaborative research and licensing agreement with Pfizer), CYTR +11.4% (announces positive results of Arimoclomol in preclinical stroke recovery studies), PCYC +9.9% (NDA for treatment of lung cancer brain metastases to be filed over protest), IDMI +8.6% (continued momentum), POZN +8.0% (announces trexima provided superior sustained pain-free results compared to sumatriptan), NHWK +7.6% (upgraded to Buy at Goldman), JTX +7.5% (co says DoJ matter is not likely to have a material adverse effect, also upgraded at Morgan Stanley), CWTR +6.3% (upgraded to Buy at BofA), RNO +5.3%, LMC +3.8% (Globe and Mail reports LMC is preparing to acquire RNO), CIMT +4.4% (continued momentum), NUAN 3.6% (initiated with a Buy at Kaufman, positive comments at FBR).
Allapoole avanevad:
Gapping down on weak earnings/guidance: PKTR -26.5%, GBX -11.3%, MNST -8.7%, PACR -7.3%, MIPS -5.7%, CC -2.2%... Other news: FCEL -5.2% (prices 9 mln share common stock offering $7.50/share - Bloomberg), ABG -3.8% (announces secondary common stock offering), MEDI -2.1% (downgraded to Mkt Perform at Bernstein), NYX -1.8% (profit taking following yesterday's late day strength). -
ISM Services 52.4 vs 55.0 consensus, prior 54.3
Factory Orders +1.0% vs +1.8% consensus, prior -5.6% -
Algselt aprillis pihta pidanud hakkama strateegilise naftareservi täitmine USAs võib kõrge hinna tõttu edasi lükkuda...
Energy Dept rejects oil offers for Strategic Reserve; says offers are "too high"- Bloomberg -
mis selle Netflix'iga päeva lõpus juhtus ?
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Speedy - Netflix(NFLX) sai upgrade'i First Albany'lt koos päris positiivsete kommentaaridega.
NFLX Netflix upgraded to Buy from Neutral at First Albany - says BBI threat is in shares; feels like 2005 again... -
oluline vastupanu sai sellega murtud, nüüd on mõneks ajaks tee vaba
