BloggingStocks

Analyst calls: SCRX, GOOG, LOW, DF, GILD, EK, SOLR, XRX ...

Eric Buscemi — 2008-09-02T11:15:00+00:00

Filed under: Analyst upgrades and downgrades, Google (GOOG), Alcoa Inc (AA), Dean Foods (DF), Xerox Corp (XRX), Lowe's Cos (LOW), Eastman Kodak (EK), Analyst initiations, Gilead Sciences (GILD)

Analyst upgrades:

RBC Capital upgraded Sciele Pharma (NASDAQ: SCRX) to Sector Perform from Underperform following the acquisition by Shionogi.
Merrill believes Alcoa (NYSE: AA) may pursue an acquisition of Alumina Ltd (NYSE: AWC) following recent share weakness. Shares of Alumina were upgraded to Buy from Underperform.
Stanford upgraded shares of Google (NASDAQ: GOOG) to Buy from Hold after channel checks indicated U.S. search market trends have stabilized as they believe GOOG's market share gains are broadening, Q3 expectations are modest and the valuation is near lows. The firm has a $550 target on the stock.
Lowe's (NYSE: LOW) was raised to Buy from Neutral at Goldman.

Analyst downgrades:

WestLB downgraded shares of Ericsson (NASDAQ: ERIC) to Reduce from Hold as they believe the company's Q3 earnings could miss expectations.
Lehman downgraded Intersil (NASDAQ: ISIL) to Equal Weight from Overweight based PC exposure and market share loss in notebook power. The company's target was lowered to $24 from $29.
Dean Foods (NYSE: DF) was lowered to Equal Weight from Overweight at Morgan Stanley.
Gilead Sciences (NASDAQ: GILD) was cut to Neutral from Buy at Banc of America.
JP Morgan lowered Bank of Nova Scotia (NYSE: BNS) to Underperform from Sector Perform.

Analyst initiations:

Citigroup initiated Eastman Kodak (NYSE: EK) with a Sell rating and $13 target. The firm believes 2008 consensus estimates and guidance are too high given the company's headwinds.
GT Solar (NASDAQ: SOLR) was assumed with a Neutral rating and $16 target at Banc of America. The firm believes the risk/reward is balanced at current levels with no significant new polysilicon opportunity. Shares were also initiated at Thomas Weisel with an Overweight rating and $18 target and at UBS with a Buy rating and $19 target.
Citigroup initiated Xerox (NYSE: XRX) with a Buy rating and $20 target and Electronics for Imaging (NASDAQ: EFII) with a Hold rating and $18 target.

Permalink | Email this | Linking Blogs | Comments

Three reasons women need to save more than men -- Seriously!

Sheldon Liber — 2008-08-07T13:11:00+00:00

Filed under: Rants and raves, PepsiCo (PEP), Archer-Daniels-Midland (ADM), Avon Products (AVP), Sara Lee Corp (SLE), Xerox Corp (XRX), Kraft Foods'A' (KFT), Personal finance, Workspace

In a conversation with an attorney friend of mine, who happens to be a woman, she asked for some general financial guidance. During the course of the conversation it occurred to me that women need to save more than men. There are many reasons for this, here are a few:

The first and most obvious reason women need to save more than men is that they live longer -- often without the support of a significant other. Living longer and living alone cost more money.

Second of all, women still do not have complete earnings parity with men. Some of this has to do with job type and some with history. But nevertheless, we are not there yet. If there is a 15% disparity, then a woman is starting at a disadvantage whether saving for her retirement in the future or for buying a gallon of gas today. This can only be made up by saving more and investing more. This is a worthy goal except that with less resources the difficulty is exacerbated.

No amount of societal change will make up for the fact that women have different interests. Many times a women might have an opportunity to make more money but will not pursue it. We all have heard of the 'good 'ole boys' network that the liberation movement has fought to end for decades as an exclusionary, unofficial manner of male-dominated economic privilege.

So now most women are able to join most country clubs and play all the golf they want. This has solved little unless they truly want to reduce their handicap. The truth is, they still have to get invited by those good 'ole boys to play, and for the most part, they don't get the invite. I also have to say that I personally think women just do not have the same interest in waking up early and shooting a few rounds of golf in the same numbers as men do. Nor do I think they enjoy fishing or battling on the trading floors. Women are not as aggressive -- of course, if they are they may be shunned for it.

Here's a third reason that women need to save more: Many jobs women hold are more dependent on their looks than a man's would be. This is a diminishing asset for all of us over time, but it affects women more. The most obvious field where this is true would be entertainment and advertising. But I know this to also be true in more corporate jobs, such as pharmaceutical sales. It's true in fields as disparate as prostitution and politics. Hillary Clinton's wardrobe was more topical than Barack Obama's and now that she has moved out of the picture the talk about Michelle Obama is as much about her fashion sense as her common sense.

The fact is, time works against women. While we can all continue to work towards improving society in the long run, I am not optimistic that complete economic equality is even possible. Therefore women need to start saving and investing sooner and more during the course of their lives. Start today, start now.

There were 12 women at the helm of Fortune 500 companies as of May 2008; here are six of them:

Archer-Daniels-Midland (NYSE: ADM) Patrica A. Woertz
Avon Products (NYSE: AVP) Andrea Jung
Kraft Foods'A' (NYSE: KFT) Irene B. Rosenfeld
PepsiCo (NYSE: PEP) Nooyi K. Indra
Sara Lee Corp (NYSE: SLE) Brenda C. Barnes
Xerox Corp (NYSE: XRX) Anne M. Mulcahy

Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm. He writes the columns Chasing Value and Serious Money. Disclosure: I do not own shares of the companies mentioned.

Permalink | Email this | Linking Blogs | Comments

Worst 10-year performers: Xerox Corporation can't reproduce its early momentum

Elizabeth Harrow — 2008-07-27T13:30:00+00:00

Filed under: Major movement, Bad news, Xerox Corp (XRX), S and P 500, Technology

In this series, we take a look at the 25 stocks on the S&P 500 Index (SPX) that have turned in the worst performance during the past decade -- what went wrong, and what happens next.

Google should allow the sad fate of Xerox Corporation (NYSE: XRX) to serve as a cautionary tale: the use of your company's name as a common verb in the popular lexicon does not guarantee long-term success.

I can remember an age when I thought "xerox" was a legitimate action verb. But I couldn't tell you the last time I made a "xerox." You may remember from our discussion of Gannett Co. (NYSE: GCI) that people don't read the paper anymore. Well, it's actually a little more serious than that -- people don't even like to use paper anymore.

What went wrong? At number 18 on our list of SPX laggards, XRX shed 73% of its value during the 10 years that ended June 30, 2008. The stock tapped a high of $63.94 back in May 1999, shortly after G. Richard Thoman succeeded Paul Allaire as CEO. As The New York Times noted, Thoman was taking the helm "...at a time of unprecedented change for Xerox," with digital technology transforming traditional copier and printer usage.

Melancholy types might try to tell you April is the cruelest month, but XRX would likely beg to differ. Xerox shares endured four severe sell-offs over a 15-month period: in July 1999, October 1999, July 2000, and October 2000. Two words apply to all four price plunges: weak earnings. Thoman commemorated the October '99 drop with a comment both odd and tacky: "I just lost two-thirds of my net worth, and none of us are feeling fat, dumb and happy right now." Perhaps not surprisingly, the poetic CEO was ushered out the door the next spring.

Thoman didn't take XRX's fundamental woes packing with him when he left (though he did slip off with a sweet $800,000 annual pension). In October 2000, a continued losing streak in the earnings spotlight led Xerox to slash its quarterly dividend -- and deny rumors that it was seeking bankruptcy protection.

What next? Xerox shares aren't faring too well at present; they're currently trading near two-year lows. However, signs of fundamental growth are peeking through. The company has managed to meet or narrowly exceed Wall Street's expectations in each of its past five earnings reports, including its most recent statement on July 24. In November 2007, XRX announced its first quarterly dividend in six years. And, in January, the company rolled out a redesign to its familiar old logo -- a reminder to shareholders and consumers that Xerox is no longer the outdated copier company of yesterday.

Elizabeth Harrow is an analyst and financial writer in the research department at Schaeffer's Investment Research. She is featured in the weekly video series Option Basics on SchaeffersResearch.com.

Permalink | Email this | Linking Blogs | Comments

IKON Office Solutions (IKN): Price defining bullish 'pennant'

Larry Schutts — 2008-07-18T12:43:00+00:00

Filed under: Good news, Xerox Corp (XRX), Technical Analysis, Stocks to Buy

IKON Office Solutions (NYSE: IKN) provides document management systems and services to business and government clients. The firm leases/sells name-brand office equipment and provides associated office supplies, equipment maintenance programs, technical support and lease financing. It also offers document management outsourcing, electronic file conversions, facilities management and training. IKON operates from over 400 locations in North America and Western Europe. Xerox (NYSE: XRX) is a major competitor.

The firm pleased investors earlier in the week, when it guided fiscal Q3 EPS to the range 35-37 cents and Q3 revenues to $1.05 billion. Analysts had been expecting 30 cents and $1.05 billion. The solid outlook was driven by better than anticipated revenue and gross margin in Customer Service and Supplies and by a higher gross margin in Managed and Professional Services. Management also issued FY08 EPS guidance of $1.00-$1.05 (97 cent consensus).

The stock popped on the news and then moved into a bullish "pennant" consolidation pattern. Prices frequently exit pennants moving in the same direction they were traveling on entry. In this case, that would be to the upside.

Brokers recommend the issue with one "buy", four "holds" and two "sells". The IKN P/E ratio (13.38), PEG ratio (1.22), Price to Sales ratio (0.25), Price to Book ratio (0.73), Price to Cash Flow ratio (5.53) and Price to Free Cash Flow ratio (5.89) compare favorably with industry, sector and S&P 500 averages. Institutions hold more than 95% of the outstanding shares. Over the past 52 weeks, the stock has traded between $6.73 and $15.65. A stop-loss of $10.70 looks good here. Note that the firm is expected to report Q3 results on June 24th, before the open.

Larry Schutts is a contributing editor for Theflyonthewall.com and the Vice-President of Stockwinners.com. He does not hold a position in either the stocks discussed above.

Permalink | Email this | Linking Blogs | Comments

Earnings highlights: Google, Intel, Coca-Cola, Pfizer, eBay, AMD and others

Trey Thoelcke — 2008-04-20T10:10:00+00:00

Filed under: Earnings reports, Google (GOOG), eBay (EBAY), Pfizer (PFE), Coca-Cola (KO), Intel (INTC), Nokia Corp. (NOK), Advanced Micro Dev (AMD), Abbott Laboratories (ABT), Xerox Corp (XRX), Reliance Steel and Aluminum (RS), Hunt(J.B.) Transport (JBHT), Intuitive Surgical Inc (ISRG)

Here are some highlights from this past week's earnings coverage from BloggingStocks:

Abbott Laboratories Inc. (NYSE: ABT) first-quarter profit soared on overseas demand for Humira.
Advanced Micro Devices Inc. (NYSE: AMD) posted a bigger-than-expected loss, its sixth straight.
Coca-Cola Co. (NYSE: KO) posted better-than-expected first-quarter results on strength overseas.
CSX Corp. (NYSE: CSX) first-quarter profit soared on strong demand for grain, ethanol, and coal.
eBay Inc. (NASDAQ: EBAY) beat first-quarter expectations but the outlook was uninspiring.
Google Inc. (NASDAQ: GOOG) first-quarter profit soared 42%, beating Wall Street estimates.
Intel Corp. (NASDAQ: INTC) first-quarter earnings slipped but exceeded expectations.
Intuitive Surgical Inc. (NASDAQ: ISRG) beat first-quarter estimates and offered a disappointing outlook.
J.B. Hunt Transport Services Inc. (NASDAQ: JBHT) missed first-quarter estimates on rising fuel prices.
Nokia Corp. (NYSE: NOK) first-quarter profit missed expectations and it warned of a coming decline.
Pfizer Inc. (NYSE: PFE) first-quarter profits fell and missed analysts' expectations.
Reliance Steel & Aluminum Co. (NYSE: RS) lowered its second-quarter outlook.
Royal Philips Electronics posted a bigger-than-expected fall in profit on weak North America TV sales.
Wolverine World Wide Inc. (NYSE: WWW) beat earnings estimates but shareholders were not impressed.
Xerox Corp. (NYSE: XRX) posted a first-quarter loss that matched analysts' estimates.

Also, Jim Cramer doesn't think General Electric (NYSE: GE) is the bellwhether some take it for. Goldman Sachs (NYSE: GS) is pessimistic about this earnings season. And here's a look at some companies that reported this week that could bounce back after the recession, as well as earnings expectations for "barometer" companies reporting next week.

Upcoming results to watch for include Bank of America (NYSE: BAC), Halliburton (NYSE: HAL), Merck (NYSE: MRK) Texas Instruments (NYSE: TXN), AT&T (NYSE: T), DuPont (NYSE: DD), Yahoo! (NASDAQ: YHOO), Amazon.com (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL), Qualcomm (NASDAQ: QCOM), Boeing (NYSE: BA), UPS (NYSE: UPS), 3M (NYSE: MMM), PepsiCo (NYSE: PEP), Microsoft (NASDAQ: MSFT), Motorola (NYSE: MOT), and McDonald's (NYSE: MCD).

Visit AOL Money & Finance for more earnings coverage.

Permalink | Email this | Linking Blogs | Comments

Most innovative companies, airline secrets & billion dollar sport of ultimate fighting - Today in Money 4/18

Allan Halprin — 2008-04-18T09:44:00+00:00

Filed under: Google (GOOG), Apple Inc (AAPL), eBay (EBAY), General Electric (GE), Pfizer (PFE), Wal-Mart (WMT), Toyota Motor Corp. (TM), Walt Disney (DIS), Caterpillar (CAT), Netflix, Inc. (NFLX), Citigroup Inc. (C), Goldman Sachs Group (GS), Xerox Corp (XRX), Southwest Airlines (LUV), BP p.l.c. ADS (BP), Marriott Intl'A' (MAR), Contl Airlines'B' (CAL), Honeywell Intl (HON)

In the News:

· Citigroup Posts Worst-Than-Expected $5.1 Billion Loss; 9000 Job Cuts Coming

· Google Beats Q1 Estimates; Stock Soars

· Xerox Swings to Loss

· Caterpillar Earnings Rise 14%; Top Estimates

· Honeywell Earnings Impress Wall Street; Raises Guidance

· Sallie Mae Unsure About Future Loans

· Continental & Southwest Airlines to Raise Fares

· E*Trade Swings to Loss; Cutting Back as Recession Looms

· eBay Struggles to Rebuild Traffic

· Linen's 'N Things Shopping for a Buyer

· Thomson Reuters Takes on Uncertain World

· Netflix Lives!

50 Most Innovative Companies
The companies that make up BusinessWeek's annual ranking nurture cultures that value creative people in good times and bad. The top company by industry include Apple, Pfizer, Goldman Sachs, Disney, Toyota, GE, Marriott, Wal-Mart and BP.
The World's Most Innovative Companies

Airline Gate-to-Gate Times Slowest in 20 Years
Air travel is slower than at any time in the past two decades, a USA TODAY analysis shows. Here are the top 10 major routes where flight times have increased, gate to gate.
http://money.aol.com/news/articles/_a/air-trips-slowest-in-past-20-years/20080418074309990001 Air trips slowest in past 20 years - USATODAY.com

10 Things Your Airline Won't Tell You
Your hard-earned air miles are worth less all the time. We love to sock you with hidden fees. Customer service isn't always our top priority. Go inside the airline industry and see their secrets.
10 Things Your Airline Won't Tell You (10 Things: Personal Finance) at SmartMoney.com

Are There Too Many Women Doctors?
As an MD shortage looms, female physicians and their flexible hours are taking some of the blame.
Are There Too Many Women Doctors?

Squeezed Lenders Abandon Students
The exodus of lenders means students must be vigilant about securing loans. Here's how.
Squeezed Lenders Abandon Students (Consumer Action: Personal Finance) at SmartMoney.com

The Brothers Behind Ultimate Fighting
Two casino tycoons turned a violent fight club into a billion-dollar sports empire.
The Brothers Behind Ultimate Fighting - Forbes.com
Also: Ultimate Fighting Superstars

Permalink | Email this | Linking Blogs | Comments

Xerox (XRX) reports loss during first-quarter on legal settlement

Eliza Popescu — 2008-04-18T09:35:00+00:00

Filed under: Earnings reports, Consumer experience, Xerox Corp (XRX)

The market looks to be poised for a positive opening this morning, and so does Xerox Corp. (NYSE: XRX). The company's shares have been trading higher despite posting a first-quarter loss as its adjusted earnings matched analysts' estimates.

Xerox, the leading provider of digital printers and document management services, reported this morning that it swung to a loss of $244 million, or 27 cents per share, hurt by a litigation charge that overshadowed strong sales growth. Included in the office equipment maker's earnings figures were 54 cents related to that lawsuit settlement. Excluding that, Xerox would have posted quarterly earnings of 27 cents, in line with analysts' predictions.

Xerox also announced a 13% growth in its quarterly sales, which climbed up to $4.34 billion from $3.84 billion a year earlier. Analysts had expected revenue of $4.24 billion, according to Thomson Financial.The company's litigation charge of $491 million was tied to its action designed to cover the costs of a 2000 class-action lawsuit claiming that Xerox misled investors about its financial health. However, the world's largest maker of high-speed color printers did not admit any financial trickery and preferred to settle to save time and money.

For the past year, the company's stock price has been facing tough times as continued worries over a possible recession, the slumping housing market and soaring fuel prices brought a slowdown in consumer spending. However, with today's earnings numbers investors show some enthusiasm and pushed the stock up 1.03% in early trading.

Eliza Popescu is a financial writer for the online investment advisory service Investor's Observer.

Read | Permalink | Email this | Linking Blogs | Comments

IKON Office Solutions (IKN): Shares consolidate recent gain in bullish 'flag'

Larry Schutts — 2008-04-15T14:55:00+00:00

Filed under: Analyst upgrades and downgrades, Good news, Xerox Corp (XRX), Technical Analysis, Luxottica Group ADS (LUX), Stocks to Buy

The firm pleased investors last week, when it guided fiscal Q2 EPS to the range 22-24 cents. Analysts had been expecting 18 cents. Management also affirmed FY08 EPS guidance of 92-98 cents (95 cent consensus). Cross Research subsequently upgraded its recommendation on the stock to "buy", in order to reflect improved equipment sales and IKN's scarcity value.

IKN shares popped on the news and have since been consolidating the gain in a bullish "flag" pattern. Equities frequently exit flags moving in the same direction they were traveling on entry. In this case, that would be to the upside.

Altogether, brokers now recommend the issue with one "buy", four "holds" and two "underperforms". Analysts see a 13% growth rate, through the next year. The IKN P/E ratio (11.48), PEG ratio (1.19), Price to Sales ratio (0.21), Price to Book ratio (0.64), Price to Cash Flow ratio (5.05) and Price to Free Cash Flow ratio (8.72) compare favorably with industry, sector and S&P 500 averages. Institutions hold about 95% of the outstanding shares. Over the past 52 weeks, the stock has traded between $6.73 and $16.11. A stop-loss of $8.15 looks good here. Note that the firm is expected to report Q2 results on April 24th, before the open.

Larry Schutts is a contributing editor for Theflyonthewall.com and the Vice-President of Stockwinners.com. He does not hold positions in any of the stocks mentioned above.

Permalink | Email this | Linking Blogs | Comments

Xerox (XRX) fourth quarter profit surges 79%

Eliza Popescu — 2008-01-24T09:33:00+00:00

Filed under: Earnings reports, Forecasts, Good news, Xerox Corp (XRX)

The market looks to be poised for a positive opening this morning, continuing yesterday afternoon's rally, and so does Xerox Corp. (NYSE: XRX). The company's shares have traded up over 6% following a strong increase in its quarterly earnings.

Xerox, the leading provider of digital printers and document management services, reported this morning that its fourth quarter profit jumped 79%, helped by strong sales of high-end printing machines and services.

The office equipment maker posted a quarterly net income of $382 million, or 41 cents per share. The strong numbers were driven by solid gains from higher-margin color systems sales. Xerox earnings figures show an improved performance compared with last year's, when the company reported a profit of $214 million, or 22 cents a share. Analysts expected Xerox to show earnings of 40 cents a share in the quarter.

Xerox also posted a rise of 11% in its quarterly sales, which climbed up to $4.88 billion from $4.38 billion a year earlier. Analysts have forecast a quarterly revenue of $4.83 billion, according to Reuters Estimates.

Looking ahead, the company sees a positive earnings outlook and said it is on track to meet its 2008 full-year profit forecast. Xerox also announced its board approved an increase of its stock buyback plan by $1 billion. For the current first quarter, the company is expecting to see earnings between 25 and 28 cents. Analysts expected earnings of 28 cents.

Xerox had to face a pretty difficult second half of 2007 when it saw its shares losing significant market value, as the company was hurt by fiscal troubles. But recent solid profits have given the company back its optimism and it is still looking to boost revenue.

From the 12-month chart on the stock, the stock was definitely in need of some good news this morning:

Eliza Popescu is a financial writer for the online investment advisory service Investor's Observer.

Read | Permalink | Email this | Linking Blogs | Comments

Stock bargains for a wild market, 3 ways to recession-proof your portfolio & home prices to free fall in '08 - Today in Money 1/24

Allan Halprin — 2008-01-24T09:21:00+00:00

Filed under: Apple Inc (AAPL), eBay (EBAY), General Electric (GE), Intel (INTC), Ford Motor (F), AT and T (T), Netflix, Inc. (NFLX), Nokia Corp. (NOK), Money and Finance Today, American Express (AXP), Goldman Sachs Group (GS), Xerox Corp (XRX), Southwest Airlines (LUV), Lockheed Martin (LMT), QUALCOMM Inc (QCOM)

In the News:

· Are Stocks Headed Higher to Continue Yesterday's Stunning Rally?

· Ford Posts $2.7 Billion Quarterly Loss; More Job Cuts Ahead

· eBay Profit Surges, But Outlook Weak; CEO Meg Whitman to Retire in March

· Wireless Growth Lifts AT&T

· Nokia Profit Soars 44% as Company Handset Market Share Tops 40%

· Lockheed Martin 4Q Profit Rises 10%

· Xerox Posts 79% Profit Growth

· Qualcomm 4Q Has 18% Profit Increase

· How Steve Jobs Lost $1 Billion in 1 Month

· Juicing the Economy Will Come at a Cost

· $7.1 Billion Massive Fraud Uncovered at French Bank

· Netflix Gains in Members and Sales

Stock Bargains in a Wild Market
Apple and other blue chips have been hammered They're great buys now. Here are some other good investments that have been unfairly mistreated. They include GE, Intel, Southwest Airlines, Goldman Sachs, American Capital Strategies, AT&T, American Express and Pfizer.
Bargains in a Wild Market - Kiplinger.com
Also: Best Places to Put Your Money in This Wild Market
Also: Picking Through the Recession Rubble

3 Ways to Recession-Proof Your Portfolio
Here are three moves you can make to ensure your portfolio weathers a recession.
3 Ways to Recession-Proof Your Portfolio | SmartMoney.com

Housing Prices Will Free Fall in 2008
The worst housing financial crisis in decades is only going to get worse. According to a Merrill Lynch report, home prices will drop 15 percent this year, and declines will continue in 2009.
Housing prices to free fall in 2008 - Jan. 23, 2008

Selling Your House in a Sea of Foreclosures
Sellers who want to avoid the bottom-fishing buyers need to take extra steps to market their properties.
Selling in a sea of foreclosures

Health Perks From Plastic
Credit cards offer ways to cut health costs. But should you pay for pills with plastic?
Credit Cards Offer Discounts on Medical Expenses | SmartMoney.com

How to Hire a Contractor
While most home contractors out there are legit and do quality work, the rogues gallery of bogus builders, careless carpenters, pitiful plumbers, and the like is a vast one. To avoid hiring the contractor from hell, follow this advice.
How to hire a contractor: Consumer Reports

Permalink | Email this | Linking Blogs | Comments

Before the bell: F, LMT, XRX, QCOM, AAPL, AMGN ...

Melly Alazraki — 2008-01-24T08:29:00+00:00

Filed under: Before the bell, Earnings reports, Microsoft (MSFT), Apple Inc (AAPL), Ford Motor (F), Caterpillar (CAT), Hershey Co (HSY), Xerox Corp (XRX), Sun Microsystems (JAVA), Lockheed Martin (LMT), QUALCOMM Inc (QCOM), Amgen Inc (AMGN)

Earnings (with so much earnings news, I'll try to be brief):

Ford Motor Co. (NYSE: F) reported Thursday it halved its quarterly losses. The carmaker lost $2.7 billion in the fourth quarter and $2.8 billion for the year, down from $5.6 billion and $12.6 billion respectively. Still, while Ford did well in global markets, its gains were dragged down by continued weakness in North America. Excluding special items, Ford lost 20 cents per share for the quarter and 19 cents per share for the year, in line with Wall Street's expectations. Ford shares are showing a decline in premarket trading.

Lockheed Martin Corp. (NYSE: LMT) reported this morning a 10% rise in fourth-quarter profit. Gains in its space, information technology and electronic systems units made up for a dip in sales of fighter jets. Lockheed reported a profit of $799 million, or $1.89 per share on flat net sales of $10.84 billion. These topped analyst estimates as polled by Thomson Financial of $1.69 per share on sales of $10.73 billion. The defense contractor also raised its forecast for 2008 earnings per share.

Xerox Corp. (NYSE: XRX) on Thursday said its profit rose 79% in the fourth quarter to $382 million, or 41 cents per share, pretty much in line with analyst estimates. A mix of cost controls and growth in equipment financing and services were the reason for the profit rise. XRX shares are up 8.6% in premarket trading.

Also reporting today: Microsoft Corp (NASDAQ: MSFT), E-Trade Financial Corp. (NASDAQ: ETFC), Sun Microsystems Inc. (NASDAQ: JAVA), Hershey Co. (NYSE: HSY) and Amgen Inc. (NASDAQ: AMGN) to name but a few. Here's a list from Briefing.com.

MarketWatch reports that Apple Inc. (NASDAQ: AAPL) said in a proxy statement CEO Steve Jobs drew another $1 salary in 2007. Jobs gained $14.6 million on paper for exercising stock options that were set to expire in 2007.
As Apple shares are recovering this morning in premarket action from the funk they've been in, rising 1.2%, the reviews on the MacBook Air keep pouring in. This time it's an an article in USA Today - MacBook Air: The sexy kind of skinny but with some flaws. Here's is Newsweek's take.

Caterpillar Inc. (NYSE: CAT) reports earnings for the fiscal fourth quarter on Friday. Here is AP's preview. With the company already affected by the slump in the housing market and residential construction, the question is how it would fare if the there is softening in the global economy growth, where CAT have so far experience strong demand for its products for building infrastructure, especially in still developing countries.

Qualcomm (NASDAQ: QCOM) shares are rising over 7% in premarket trading after the chipmaker posted Wednesday an 18% increase in fiscal first-quarter profit on strong demand for cell phones that surf the Internet and download music and video.

Permalink | Email this | Linking Blogs | Comments

Before the bell: Futures could resume rally; more earnings, data ahead

Melly Alazraki — 2008-01-24T07:50:00+00:00

Filed under: Before the bell, Major movement, International markets, Earnings reports, eBay (EBAY), Ford Motor (F), Market matters, AT and T (T), Nokia Corp. (NOK), Xerox Corp (XRX), Lennar Corp'A' (LEN), Economic data, Housing

Will Wall Street today resume Wednesday's rally? Stock futures sure point to such a possibility at this time ahead of another busy morning, full of corporate earnings. While eBay earnings and a trade fraud of over $7.1 billion could weigh in on stocks, already Nokia reported strong earnings this morning, helping to offset such an effect in the background of the coming economic stimulus package.

On Wednesday, many were left wide-eyed and slacked-jawed when the Dow industrials did an over 600 points about face. From being down 326 points, the Dow industrials finished 298 points, or 2.5%, higher. The Nasdaq Composite rose 24 points, or 1.05%, and the S&P 500 rose 28 points, or 2.14%. Many claim the market was oversold, hence buyers came to find bargains. The reverse could also be attributed to the bond insurer bailout and hopes for further interest-rate cuts.

The effect on international markets was generally positive. Asian markets were generally higher Thursday with Japan, South Korea, Australia and the Phillippines all rising for a second day. In Hong Kong, though, the Hang Seng index seesawed to finish down 2.3%.
In Europe, the picture was even better as European shares moved sharply higher on Thursday morning. The pan-European Dow Jones Stoxx 600 index climbed 3.3%, with financials lifting stocks.

While it all points to a positive start, two economic data points will be released today. Weekly jobless claim is due at 8:30 a.m. EST, and while usually doesn't carry much of an impact, it could this time if it points to a much weaker trend in the job market, giving more credence to recession fears.
At 10:00 a.m., December existing home sales will be reported. As investors keep looking for that bottom in the battered housing market, again this data could affect the atmosphere on Wall Street.

No doubt, though, that it will be earnings more than anything that will set the tone today.
Already eBay Inc. (NASDAQ: EBAY), which reported after the close Wednesday, topping analyst estimates, has spooked some with its forecast for the first quarter and 2008. Shares of the internet auctioneer are down $2.00, or 6.9%, to $27 in premarket trading. eBay also announced CEO Meg Whitman will be retiring and John Donahoe replacing her.

On the other hand, Nokia Corp. (NYSE: NOK) shares are up 6.4% in premarket trading to $34.50 after the world's No.1 mobile phone maker reported this morning its fourth-quarter net profit surged 44% to $2.6 billion and that it had reached its long-term goal of 40% market share in handset sales.

Also reporting today are AT&T (NYSE: T), Ford Motor Co. (NYSE: F), Xerox (NYSE: XRX) and homebuilder Lennar (NYSE: LEN).

In something that looks nearly like a deja-vu, "French bank Societe Generale said Thursday it has uncovered a $7.14 billion fraud - one of history's biggest - by a single futures trader who orchestrated a series of bogus transactions." The bank, already exposed to the subprime crisis, has been destabilized and trading in its shares have been suspended.

Permalink | Email this | Linking Blogs | Comments

Unknown high-yield stocks for '08, which tax form should you use?, smart car buying moves today - Today in Money 1/8

Allan Halprin — 2008-01-08T09:16:00+00:00

Filed under: Microsoft (MSFT), Starbucks (SBUX), Money and Finance Today, Circuit City Stores (CC), Comcast Cl'A' (CMCSA), Xerox Corp (XRX), KB HOME (KBH), Bear Stearns Cos (BSC)

In the News:

· Bear Stearns CEO to Step Down After Rough Year

· Starbucks' Howard Schultz to Return to CEO Post

· Gas Prices Surge on Record Oil Prices

· KB Homes Posts Deep Losses for 4Q & Full Year

· Xerox Gets a Makeover

· Comcast to Ramp Up Internet Speed, TV Tech Options

· Look Out BMW, Mercedes - Here Comes News in Luxury - Hyundai

· Microsoft Bids $1.2B for FS&T Engine

· Circuit City Struggles Continue, Sales Down in December

· Republican Huckabee Fairly Conservative Except for Ambitious Plan to Scrap the IRS

· What's a Widget Worth?v

Stocks: Playing the 2008 Election
The fates of various industries depend on who becomes the next President. Who benefits? Who suffers? Here, insights from a slew of top investors. If a democrat wins high-end retailers could be in trouble while Wal-Mart and Target could do better, big oil, defense & drug companies would probably do better under a republican while alternative energy and insurers probably favor democrats.
Stocks: Playing the 2008 Election - BusinessWeek

Unknown High-Yield Stocks for 2008
These little-known names offer compelling dividends to get investors through the volatility. They include GateHouse Media, Fairpoint Communications, Southern Copper and more.
Unknown High-Yield Stocks for the New Year - TheStreet.com
Also: Motley Fool's Bear Market Buys

12 Money Mistakes That Can Cost You $1,000,000
A few common errors could cost you a million dollars or more. The Consumer Reports Money Lab puts a price tag on some common financial blunders and explains the best ways to avoid them.
ConsumerReports.org - Money mistakes: Mistakes that could cost you

Which Tax Form Should You Use?
Most people hate filling out tax forms almost as much as they hate forking over dough to Uncle Sam. That's why you should use the simplest tax return you can, especially if you're still filling out your forms by hand. But choose carefully. While all the personal income tax forms -- 1040, 1040A and 1040EZ -- are designed to get the appropriate amount of your money to the Internal Revenue Service, the differences in these returns could cost you if you're not paying attention.
Which tax return form should you use? -Bankrate.com

Buy Now, Pay Later
Online-payment services may let you pay without plastic, but shoppers should be wary. Here are four reasons you may want to think twice before hitting the "checkout" button using one of these services.
Alternate-Payment Services Have Some Pitfalls | SmartMoney.com

Smart Moves for Your Next Car Purchase
The new-car business is in turmoil, and that's likely to continue well into the new year. So what should a savvy buyer do if a new car is on the list of things to buy in 2008?
Best auto moves to make in 2008 - Bankrate.com

Which Exercise Gadgets Are Best?
Want to blast away belly fat fast? Lose one size in 10 days? Tone every body part all at once? Their amazing fitness claims are touted on TV infomercials or the Web. We tested 10 machines to find out whether they delivered. See what Consumer Reports says various ab exercisers, bun & thigh machines, aerobic devices and total body exercisers.
ConsumerReports.org - Infomercial exercise equipment: How they compare

How Expensive Is Your Diet?
What a week's worth of food on the country's most popular weight-loss plans will cost you. For NutriSystem it will cost you $98, The Abs Diet is $250, The Zone is $273, South Beach Diet is a $323 for the first week and Weight Watchers is $388 to name a few.
How Expensive Is Your Diet? - Forbes.com

How to Travel on a Weak Dollar
For those who can't contain their wanderlust, but are watching their wallets, industry experts recommend choosing a destination where the dollar remains strong, considering packages or cruises where rates are set far in advance, and exploring unconventional locales. With proper planning, you can expect to be pleasantly surprised. History-rich places like Thailand, Hungary and Morocco along with Guatemala, Peru and Czech Republic are good bets.
How To Travel Well On A Weak Dollar - Forbes.com

Permalink | Email this | Linking Blogs | Comments

Xerox has the solution to a lagging stock price: A new logo!

Zac Bissonnette — 2008-01-08T09:08:00+00:00

Filed under: Marketing and advertising, Xerox Corp (XRX)

Ad executive: "Guys, guys! I got an idea about how we can change the market's perception of our company and move Xerox (NYSE: XRX) into the 21st century."

CEO: "How exciting! A new product? An innovative marketing campaign?

Ad executive: Even better. A new logo.

The new logo (shown at right) marks the first time that Xerox has identified itself with an image rather than just "XEROX." And what a creative image it is: a circle with a little "X" and now "xerox" is written in lowercase! I shudder to think about how much was spent on Madison Avenue PR firms for that bit of marketing genius.

The move is part of a plan to update Xerox's stodgy image -- the stock hasn't been cool since the 1970s.

But according to The New York Times, "But Michael Watras, president of the brand consultancy Straightline International, said nothing short of a name change would wrest Xerox from the grasp of its copier reputation. 'They should have kept the Xerox brand on some products, but renamed the company.' he said. 'Without that, this is money poorly spent. If I were a shareholder, I'd be outraged.'"

I'm inclined to agree with Mr. Watras. When your name is used as a verb meaning to copy, it's hard to get past the image as a copy company with a simple logo change.

Read | Permalink | Email this | Linking Blogs | Comments

Newspaper wrap-up: McDonald's to add specialty coffee drinks this year

Eric Buscemi — 2008-01-07T11:01:00+00:00

Filed under: Newspapers, Magazines, Starbucks (SBUX), McDonald's (MCD), Xerox Corp (XRX), Delta Air Lines (DAL)

MAJOR PAPERS:

In an effort to compete further with Starbucks Corporation (NASDAQ: SBUX), McDonald's Corporation (NYSE: MCD) is set to add coffee bars that serve cappuccinos, lattes and other specialty coffee drinks in nearly 14,000 U.S. locations this year, the Wall Street Journal reported.
In an interview with the Financial Times, Xerox Corporation (NYSE: XRX) CEO Anne Mulcahy warned that the uncertain economic environment is causing companies to think twice before making new technology investments.
The Financial Times also reported that Delta Air Lines Inc (NYSE: DAL) has put its plans to sell its Comair regional jet service division on hold and may be looking to follow through on plans to participate in the industry's consolidation.

OTHER PAPERS:

Credit Suisse Group (NYSE: CS) faces an additional $2.3B write-off as a result of the U.S. subprime crisis, the Sonntag newspaper reported yesterday.

Permalink | Email this | Linking Blogs | Comments

Before the bell: Futures indicating a lower start as oil rises

Melly Alazraki — 2007-11-19T07:46:00+00:00

Filed under: Before the bell, International markets, Analyst upgrades and downgrades, Hewlett-Packard (HPQ), Market matters, Citigroup Inc. (C), Xerox Corp (XRX), Lowe's Cos (LOW), Economic data

If you're a bear, then at least another down beginning may await you in today's session. At least, that's the indication U.S. stock futures are giving this morning. As economists forecast the risk of a recession increased due to the collapse of the housing market along with the credit crunch and as oil prices jumped again on OPEC comments, it seems the bears have returned.

On Friday, U.S. stocks saw volatile session that ended with gains, with the Dow industrials rising 66 points, or 0.51%, the Nasdaq Composite up 18 points, or 0.72%, and the S&P 500 rising 7 points, or 0.52%. On the week stocks finished higher in a week full of wild swings. The Dow ended up 1.03%, the S&P 500 and the Nasdaq ended up 0.35%.

Not much economic data is due today so investors are focusing on rising oil prices, overseas activity and some M&A action.

After Iranian President Mahmoud Ahmadinejad said Sunday that OPEC's members are interested in a non-dollar currency and would to like to convert their cash reserves into the euro, oil prices rose today. Also, the possible OPEC output hike next month may not get more supplies to market in time for the northern winter. Oil rose nearly a dollar to trade above $94.50 a barrel.

Also, the National Association of Homebuilders will release its November index - a gauge of homebuilder confidence - at 1 p.m. EST, putting that battered sector and its effect on the economy in focus again. Later this week more housing indicators are due. This morning, Lowe's Corp. (NYSE: LOW) reported financial results. LOW shares are down 4% in premarket trading.

Overseas, Asian stocks finished mostly lower with Japan's Nikkei tumbling to its lowest level all year. European stocks are also being dragged by the same concerns of slowing economic growth in the U.S as Swiss Re announced a 1.2 billion Swiss francs write-down (or $1.1 billion) due to subprime exposure. Also, the government said the Northern Rock Plc's 25 billion-pound ($51 billion) loan from the Bank of England won't be extended indefinitely.

In deal news, Pharmion Corp. (NASDAQ: PHRM) agreed to be acquired for $72 a share, or $2.9 billion, of cash and stock by Celgene Corp. (NASDAQ: CELG). CELG shares are down over 2% in premarket trading.
SABMiller, the world's third-largest brewing company, said it intends to bid €816 million ($1.2 billion) for Grolsch NV, or €48.25 ($70.57) per share.

In other news, Hewlett-Packard (NYSE: HPQ) is reporting after the bell, Xerox (NYSE: XRX) announced its first dividend in more than six years and Citigroup (NYSE: C) was downgraded to Sell from Neutral at Goldman Sachs as the broker expects the bank to write down up to $15 billion from collateralized debt obligations over the next two quarters. Citi shares are down 3% in premarket trading.

Permalink | Email this | Linking Blogs | Comments

Xerox not lusting for Lexmark after all

Beth Gaston Moon — 2007-10-22T13:07:00+00:00

Filed under: Analyst upgrades and downgrades, Rumors, Xerox Corp (XRX)

The M&A rumor mill hyping a buyout of Lexmark International Group (NYSE: LXK) by Xerox Corp. (NYSE: XRX) has been silenced. On Friday, when Xerox reported a 53% drop in third-quarter earnings, company CEO Anne Mulcahy commented on a suggestion that her firm might be looking to buy rival printing concern LXK.

She quickly put these allegations to rest, noting: "I don't think Lexmark is an ideal candidate . . . there is nothing [it] would bring to the table that would be really value-creating for us."

But Mulcahy certainly is not acquisition-averse; she has overseen Xerox's purchase of four companies in the past 15 months. She noted that Xerox hasn't ruled out deals with smaller companies that would help bulk up her company's software offerings.

In other news on the Xerox front this morning, Citibank upgraded its rating on the shares to "hold" from "sell," keeping its $17 price target unchanged. Covering analyst Matthew Troy said in a client note that, "While we think it is too early to become more constructive with the stock, we do note that Xerox could be attractive in a broader-market pullback, to the extent it offers investors exposure to technology."

Xerox shares have gained over 2% so far today despite the pullback in the broader market.

Beth Gaston Moon is an analyst at Schaeffer's Investment Research.

Visit AOL Money & Finance for more earnings coverage

Read | Permalink | Email this | Linking Blogs | Comments

Analyst upgrades: CLWR, CTXS, MO, OSTK and IPG

Eric Buscemi — 2007-10-22T10:33:00+00:00

Filed under: Analyst reports, Analyst upgrades and downgrades, Walgreen Co (WAG), Sprint Nextel Corp (S), Altria Group (MO), Xerox Corp (XRX)

MOST NOTEWORTHY: Clearwire, Citrix Systems, Altria Group, Overstock.com and Interpublic Group were today's noteworthy upgrades:

Jefferies upgraded shares of Clearwire Corporation (NASDAQ: CLWR) to Buy from Hold on valuation as they believe the stock is trading as if the Sprint Nextel Corporation (NYSE: S) deal is off. Jefferies thinks the Sprint/Clearwire deal is still in the best interest of both companies.
Deutsche Bank upgraded shares of Citrix Systems (NASDAQ: CTXS) to Buy from Hold, as they believe the contribution from XenSource beginning in Q4 could be better than expected.
UBS upgraded shares of Altria Group (NYSE: MO) citing stronger Q3 International results and potential share repurchases. Shares were upgraded to Buy from Neutral.
Piper Jaffray raised shares of Overstock.com (NASDAQ: OSTK) to Market Perform from Underperform, as they are incrementally more positive on shares following the company's Q3 upside. They believe the company has turned the corner on profitability.
Bear Stearns upgraded shares of Interpublic Group (NYSE: IPG) to Outperform from Peer Perform on valuation and expectations for improved performance in 2008.

OTHER UPGRADES:

Morgan Stanley upgraded Walgreen (NYSE: WAG) to Overweight from Equal Weight.
Friedman Billings raised its rating on IMS Health (NYSE: RX) to Outperform from Market Perform.
JP Morgan upgraded Stericycle (NASDAQ: SRCL) to Overweight from Neutral.
Citigroup upgraded Xerox Corporation (NYSE: XRX) to Hold from Sell.
RadiSys Corporation (NASDAQ: RSYS) was upgraded to Buy from Hold at Cantor.

Permalink | Email this | Linking Blogs | Comments

20th anniversary of black monday, Wal-Mart's black friday threat & tax relief in 2008 - Today in Money 10/19

Allan Halprin — 2007-10-19T09:18:00+00:00

Filed under: Google (GOOG), Wal-Mart (WMT), McDonald's (MCD), Caterpillar (CAT), Money and Finance Today, Xerox Corp (XRX), Wachovia Corp (WB)

In the News:

· Jim Cramer Takes a Look Back at the 20th Anniversary of Black Monday

· Oil Prices Soaring Above $90 Impacting Markets

· Google Earnings Soaring as Profit Up 46%

· Google Under Fire Over a Controversial Site

· McDonald's Boosted By International Sales Surge

· Caterpillar Earnings Rise 21%; Outlook Lowered

· Wachovia Profit Falls 10% on Credit Market Conditions

· Xerox Earnings & Sales Top Wall Street Estimates

· Nearly Half of Americans See Recession

· 3M Earings Rise, Even With Slowing Sales

· Jerry Seinfeld's Wife Scores Big Hit Thanks to Oprah

Wal-Mart's Black Friday Threat

Retailer is threatening legal action if Web sites leak its highly-popular Black Friday circular before Nov. 19.

Wal-Mart: Stop leaking Black Friday deals, or else - Oct. 18, 2007

Restaurant Chains Aspire to Hit 1-0-0-0

It took McDonald's 20 years to get there and Starbucks 25 years. The dream of almost every restaurant chain -- to hit 1,000 units -- is happening at warp speed in 2007. At least five chains have hit that number this year. Sbarro and Papa Murphy's got there. So did Panda Express, as did Panera Bread and WingStreet. Even plucky Johnny Rockets, under new ownership, just unveiled plans to multiply its 217 units to 1,000.

More restaurant chains aspire to hit the big 1-0-0-0 - USATODAY.com

Some Tax Relief Coming in 2008

When taxpayers file their 2008 tax returns -- that's in early 2009 for most taxpayers -- they'll enjoy higher personal exemption amounts, a higher standard deduction and wider tax brackets, meaning more money is taxed at a lower rate, the IRS announced on Thursday. The dollar amounts for some tax provisions are revised each year to keep pace with inflation.

IRS inflation adjustments bring some tax relief -- in 2008 - MarketWatch

When Your Dream House Turns Into a Nightmare

For years Americans custom-built homes with pricey extras expecting high returns on their investment. They're in for a letdown.

Dream House or Nightmare? - Newsweek.com

The Man Who Started Foodfight

Seth Goldstein's 'craplet' apps - Happyhour, Appaholic, Foodfight - are already facebook gold. But he's got grander plans.

The man who started the foodfight - Business 2.0

Permalink | Email this | Linking Blogs | Comments