Grant Prideco, Northgate, RRSat Global: U.S. Equity Preview

[Yuriy]

Grant Prideco, Northgate, RRSat Global: U.S. Equity Preview


By Adam Satariano

Sept. 18 (Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in U.S. exchanges today. This preview includes news that broke after exchanges closed yesterday. Stock symbols are in parentheses after company names.

Adobe Systems Inc. (ADBE US) rose $1.79, or 4.2 percent, to $44.85 after the official close of U.S. exchanges yesterday. The biggest maker of design software reported third-quarter earnings that increased more than analysts anticipated on demand for its Creative Suite programs.

E*Trade Financial Corp. (ETFC US) fell 83 cents, or 5.8 percent, to $13.38 in extended trading yesterday. The online brokerage that also underwrites mortgages cut its estimate of 2007 earnings per share by at least 25 percent, partly on costs to exit the wholesale-lending business.

FLIR Systems Inc. (FLIR US): The maker of infrared night- vision cameras said it received a $28.6 million order from the United Arab Emirates for products used in border surveillance. The stock fell 68 cents to $50.23 in regular trading yesterday.

Grant Prideco Inc. (GRP US) gained $1.02, or 1.9 percent, to $54.35 in after-hours trading yesterday. The maker of products for the oil services industry was recommended by CNBC host Jim Cramer, who said the company's drill bits are constantly being used and disposed.

Johnson & Johnson (JNJ US): The company's haloperidol, a drug used to treat psychotic disorders, can cause sudden death and heart complications, especially when given intravenously or at higher-than-recommended doses, according to an alert posted on the Food and Drug Administration Web site. The stock fell 26 cents to $62.94 in regular trading.

Northgate Minerals Corp. (NXG US) declined 46 cents, or 15 percent, to $2.70 in after-hours trading yesterday. The Canadian gold producer said the Joint Federal-Provincial Environmental Review Panel has recommended Canada's provincial Ministers of the Environment not approve the company's Kemess North project.

NovaStar Financial Inc. (NFI US) fell $1.54, or 19 percent, to $6.70 in extended trading yesterday. The subprime home lender trying to survive by conserving cash scrapped plans to pay a dividend on 2006 profit and said it will forfeit its tax status as a real estate investment trust as a result.

RRSat Global Communications Network Ltd. (RRST US) gained 86 cents, or 4.6 percent, to $19.51 in after-hours trading yesterday. The Israeli-distributor of television and radio shows was recommended by CNBC host Jim Cramer, who cited the company's low cost structure.

RTI International Metals Inc. (RTI US) gained $1.12, or 1.7 percent, to $66.67 in after-hours trading yesterday. The metal- products maker won an 11-year contract valued at more than $1.1 billion to supply titanium components for Airbus SAS aircraft.

Standard Pacific Corp. (SPF US) rose 42 cents, or 5.1 percent, to $8.65 in extended trading yesterday. The builder of homes in eight states including California and Texas said its cancellation rate was 33 percent for July and August, falling from 51 percent a year earlier.

To contact the reporter on this story: Adam Satariano in San Francisco at asatariano1@bloomberg.net

http://www.bloomberg.com/apps/news?pid=20601084&sid=aUUa77DcC5I8&refer=stocks

 

[Yuriy]

Who is Jim Cramer?

 

[Yuriy]

Alcatel, Conn's, Enterra, Quest, USEC: U.S. Equity Movers Final


By Eric Martin

Sept. 17 (Bloomberg) -- The following is a list of companies whose shares had unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 4 p.m. New York time.

Alcatel-Lucent SA (ALU US) fell 39 cents, or 4.3 percent, to $8.61, the lowest since July 2003. The world's biggest maker of telecommunications equipment was cut to ``neutral'' from `'buy'' at UBS Investment Bank.

Allied Irish Banks Plc American depositary receipts (AIB US), each worth two shares, dropped the most since Aug. 9, falling $2.71, or 5.6 percent, to $45.64. Ireland's third-largest lender by market value fell after customers at Northern Rock, the U.K. mortgage lender bailed out by the Bank of England last week, lined up at branches across the country to withdraw their savings.

Bank of Ireland ADRs (IRE US), each worth four shares, lost $4.39, or 6.5 percent, to $63.54. Prudential Plc ADRs (PUK US), each worth two shares, declined $1.63, or 6 percent, to $25.67.

Barclays Plc (BCS US) fell $1.05, or 2.2 percent, to $47.10, the lowest since Aug. 28. The U.K. bank vying to buy ABN Amro Holding NV will lose its bid for the largest Dutch lender as its price trails the offer by the group led by Banco Santander SA, said ABN Amro Chief Executive Officer Rijkman Groenink. Banco Santander SA Chairman Emilio Botin also said he expects to declare victory in the contest within a month.

Business Objects SA (BOBJ US) rose the most since July 25, gaining $2.62, or 6.2 percent, to $45. The world's largest maker of software to manage corporate databases hired Goldman Sachs Group Inc. to find a buyer, Le Figaro reported. There are five potential bidders, with German software maker SAP AG the top candidate, according to an article in Le Figaro's Sept. 15 edition.

Central Garden & Pet Co. (CENT US) fell 94 cents, or 8.8 percent, to $9.77, the lowest since August 2004. The supplier of lawn- and pet-care products postponed a secondary offering of shares and said it withdrew a preliminary earnings forecast for the fiscal fourth quarter because the market ``softness'' continued into August and early September.

Conn's Inc. (CONN US) soared $2.99, or 14 percent, to $24.93, the biggest gain since its initial public offering in 2003. The home-appliance and electronics retailer with locations in Texas and Louisiana rose after SF Holding Corp., the largest investor, said it may be taken private.

EDO Corp. (EDO US) rose to a record, adding $3.33, or 6.5 percent, to $54.84. The maker of military electronics and radio- signal jamming devices agreed to be bought by ITT Corp. (ITT US), the world's largest maker of night-vision goggles and pumps for $56 a share. ITT also will assume about $123 million in debt, valuing the company at about $1.7 billion.

Other defense contractors also climbed. Argon ST Inc. (STST US) advanced 8.8 percent to $19.12. Axsys Technologies Inc. (AXYS US) jumped 12 percent to $28.77.

Enterra Energy Trust (ENT US) dropped $1.87, or 49 percent, to $1.93, the steepest decline since 1996. The Canadian oil and natural-gas producer said it suspended its monthly cash dividend for a minimum of six months to repay debt.

Ford Motor Co. (F US) rose 25 cents, or 3.1 percent, to $8.28, the highest since Aug. 13. The stock was raised to ``outperform'' from ``peer perform'' at Bear Stearns & Co., which said the second-biggest U.S. automaker may gain from a renegotiated labor contract between General Motors Corp. (GM US) and the United Auto Workers. GM gained 3 percent, to $35.23.

Fresh Del Monte Produce Inc. (FDP US) gained $1.66, or 6.5 percent, to $27.38, the highest since Aug. 7. The fruit and vegetable supplier was raised to ``buy'' from ``hold'' by BB&T Capital Markets. The company stands to benefit from higher pineapple and banana prices, as well as a weaker dollar, analyst Heather L. Jones wrote in a note to clients.

InfoSpace Inc. (INSP US) rose the most since May 2002, jumping $4.13, or 31 percent, to $17.38. The provider of services for mobile phones and Web sites said it will sell Switchboard.com and other online directories to Idearc Inc. (IAR US) for $225 million. After completing the transaction, InfoSpace will make a special cash payout to shareholders, the company said in a statement distributed by Business Wire.

IRobot Corp. (IRBT US) fell the most since its initial public offering in 2005, losing $5.35, or 23 percent, to $18.27. JPMorgan reduced earnings estimates for the maker of bomb- detecting robots and said that its loss of a Pentagon contract to a rival is a ``significant setback.''

Lee Enterprises Inc. (LEE US) fell the most since June 18, dropping $1.16, or 7.2 percent, to $15.01. The publisher of the St. Louis Post-Dispatch was cut to ``sell'' from ``neutral'' by Merrill Lynch & Co. analyst Karl Choi, who cited lower advertising sales.

Marsh & McLennan Cos. (MMC US) fell the most since 2004, losing $1.58, or 6 percent, to $24.60. The world's largest insurance broker said Brian Storms is stepping down as head of the company's flagship unit Marsh Inc. and will be replaced by someone better equipped to restore revenue lost after a 2004 bid- rigging scandal. Morgan Stanley cut the stock's rating to ``underweight'' from ``equal-weight,'' citing ``the apparent depth of management turmoil and the lack of visibility on earnings.''

Monsanto Co. (MON US) gained $1.94, or 2.6 percent, to $75.44, the highest since its initial public offering in October 2000. The world's biggest developer of genetically modified crops raised its 2007 profit forecast, citing continued ``strong'' sales of corn seeds in Brazil and Argentina.

Newell Rubbermaid Inc. (NWL US) rose the most in the Standard & Poor's 500 Index, gaining $2.26, or 8.8 percent, to $28.02. The maker of Graco baby buggies and Rolodex organizers raised its full-year earnings and third-quarter sales forecasts.

PHH Corp. (PHH US) fell the most since it went public in 2005, losing $4.26, or 15 percent, to $24.24. The company, which provides mortgages and offers fleet-management services, said its $1.8 billion sale to General Electric Co. (GE US) and Blackstone Group LP (BX US) may be in doubt after Blackstone failed to get $750 million in loans.

Quest Software Inc. (QSFT US) rose the most since Aug. 10, adding $1.08, or 7.3 percent, to $15.96. The maker of database management programs said in a statement of preliminary results that second-quarter revenue was $143.1 million. That beat the average estimate of $138.7 million by six analysts in a Bloomberg survey.

RadioShack Corp. (RSH US) fell the most since Aug. 14, losing $1.56, or 6.6 percent, to $22.10. The company's investment in the video-game business may reduce profits, said Credit Suisse analyst Gary Balter.

Suncom Wireless Holdings Inc. (TPC US) rose the most since Jan. 31, climbing $3.65, or 17 percent, to $25.65. The U.S. mobile-phone operator agreed to be acquired by Deutsche Telekom AG (DTE GR), Europe's largest telephone company, for $27 a share in cash, or $1.6 billion.

USEC Inc. (USU US) dropped $1.08, or 8.9 percent, to $11.11, the lowest since November 2006. The uranium-enrichment company said on Sept. 14 it may sell a combination of stock and debt to fund further development of its centrifuge project. It may sell as much as $450 million in corporate debt and 18 million shares of stock. The sale of additional stock may dilute the value of shares currently held by investors.

UTStarcom Inc. (UTSI US) rose the most since Aug. 16, adding 40 cents, or 15 percent, to $3.09. The biggest supplier of wireless-telephone systems in China said it received a contract from Bharti Airtel Ltd. (BHARTI IN), India's largest mobile-phone operator.

VMware Inc. (VMW US) fell the most since Aug. 13, dropping $4.22, or 5.4 percent, to $73.70. The maker of software that lets computer servers run multiple operating systems said its second quarter earnings, excluding some items, was 10 cents a share, less than the 12 cents a share average of four estimates compiled by Bloomberg. VMware is a unit of EMC Corp. (EMC US), whose shares fell 2.8 percent to $18.75.

To contact the reporter on this story: Eric Martin in New York at emartin21@bloomberg.net .

http://www.bloomberg.com/apps/news?pid=20601084&sid=aGkesltXpJFk&refer=stocks

 

[Yuriy]

Aeroports de Paris, Danisco, Unilabs: European Equity Preview


By Nadja Brandt

Sept. 18 (Bloomberg) -- The following stocks may rise or fall in European markets. Prices are from the last close.

The Dow Jones Stoxx 600 fell 1.5 percent to 362.18. The Dow Jones Stoxx 50 Index dropped 1.3 percent to 3,676.82. The Euro Stoxx 50 Index, a benchmark for the 13 nations using the euro, declined 0.9 percent to 4,184.61.

Aeroports de Paris SA (ADP FP): The operator of Paris's airports said passenger traffic rose 8 percent in August on increased travel within Europe. The shares fell 1.12 euros or 1.5 percent to 75.38 euros.

Danisco A/S (DCO DC): The biggest Nordic sugar producer may say fiscal first-quarter net income was 337.75 million kroner ($62.9 million), the average analyst estimate compiled by Bloomberg. The stock retreated 0.8 percent to 382 kroner.

Deutsche Wohnen AG (DWNI GY): Germany's second-largest publicly traded landlord named Hermann Dambach to supervisory board chairman. The shares climbed 19 cents, or 0.7 percent, to 28.70 euros.

RHJ International SA (RHJI BB): The Belgian investment company led by Ripplewood Holdings LLC founder Timothy C. Collins is scheduled to hold its annual shareholders' meeting at 3 p.m. in Brussels and may comment on its outlook. RHJ International shares declined 5 cents, or 0.4 percent, to 13.20 euros.

Unilabs SA (ULB SW): Europe's largest operator of clinical testing laboratories releases fiscal 2007 earnings before the market opens. The company's net income fell to 21.7 million francs in fiscal 2006. Unilabs stock was unchanged at 57 francs.

To contact the reporter on this story: Nadja Brandt in Los Angeles at nbrandt@bloomberg.net .

http://www.bloomberg.com/apps/news?pid=20601084&sid=aL9LbopF1VC4&refer=stocks

 

[Yuriy]

Asian Stocks Fall on Credit Crisis Woes; Mitsubishi UFJ Drops

By Chen Shiyin and Emma O'Brien

Sept. 18 (Bloomberg) -- Asian stocks dropped the most in a week, led by Mitsubishi UFJ Financial Group Inc., after Bank of America Corp. said fallout from U.S. subprime-mortgage losses will hurt earnings.

Mitsubishi UFJ had its biggest drop in a month and National Australia Bank Ltd. slid to a six-week low on concern about contagion in credit markets, which last week forced U.K. lender Northern Rock Plc to seek a Bank of England bailout. Toyota Motor Corp. led exporters lower on speculation the U.S. economy will slow and Singapore Airlines Ltd. declined after the cost of crude oil exceeded $81 a barrel for the first time.

``The flow-over to the U.K. has provided a reminder that the credit crunch remains in place,'' said Shane Oliver, who helps manage about $83 billion at AMP Capital Investors in Sydney. ``Risks are still fairly high when it comes to financials.''

The Morgan Stanley Capital International Asia-Pacific Index slid 1.2 percent to 149.82 as of 2:27 p.m. in Tokyo, set for its biggest drop since Sept. 10. Financial shares were the biggest drags among the measure's 10 industry groups, accounting for about half the benchmark's retreat.

The Nikkei 225 Stock Average lost 1.6 percent to 15,871.52 in Japan, where markets were closed yesterday for a holiday. Aiful Corp. led a slide by consumer lenders after Credia Co. filed for bankruptcy protection. Other benchmarks declined, except in Thailand, Indonesia, India and Pakistan. Taiwan's market is shut because of Supertyphoon Wipha.

Cnooc Ltd. led energy-related shares higher along with the price of crude oil. Newcrest Mining Ltd. jumped after gold climbed to a 16-month high.

In the U.S., the Standard & Poor's 500 Index fell 0.5 percent on concern losses related to subprime-mortgages will spread. European stocks also slid, sending the Dow Jones Stoxx 600 Index 1.5 percent lower.

Bank of America, E*Trade

Mitsubishi UFJ, Japan's largest bank, lost 4.5 percent to 993,000 yen, set for its biggest loss since Aug. 15. Mizuho Financial Group Inc., the No. 2 lender by assets, tumbled 6.7 percent to 613,000 yen. National Australia, the country's biggest bank, fell 2.6 percent to A$37.43, the lowest since Aug. 6.

Market turmoil will have a ``meaningful impact'' on Bank of America's earnings, Chief Financial Officer Joe Price also told investors at a conference in San Francisco. E*Trade, a New York- based online brokerage, slashed its profit forecast by 25 percent and said it expects losses on mortgage loans.

Northern Rock, the U.K. mortgage lender bailed out by the country's central bank last week, fell to a seven-year low in London as customers since Sept. 14 removed at least 2 billion pounds ($4 billion), or about 8 percent of its total, JPMorgan Chase & Co. estimated. Shares of U.K. lenders Alliance & Leicester Plc and Bradford & Bingley Plc also plunged.

Financials Fall

``Most investors hadn't imagined the subprime problem would affect European financial companies this much and Northern Rock's news hurt market sentiment,'' said Yoshinori Nagano, who helps oversee about $70 billion at Daiwa Asset Management Co. in Tokyo. ``Global investors are trimming their holdings in financial stocks worldwide.''

Rams Home Loans Group Ltd., a non-bank lender which last month failed to refinance A$6.18 billion ($5.2 billion) of short- term debt, dropped 1.9 percent to 77 Australian cents.
DBS Group Holdings Ltd., Southeast Asia's biggest bank, fell 0.5 percent to S$19.30. Singapore banks' exposure to U.S. subprime mortgages amounts to about 1 percent of their capital base, Second Finance Minister Tharman Shanmugaratnam said yesterday.

Aiful, Toyota

Aiful, Japan's biggest consumer lender by sales, tumbled 10 percent to 1,845 yen. Acom Co., the second largest, dropped 5.8 percent to 2,760 yen.

Credia, a Japanese consumer lender 21 percent owned by JCB Co., expects difficulty in raising capital and repaying debt, it said in a filing with the Tokyo District Court on Sept. 14. Credia had 34.5 billion yen ($300 million) of short-term bank debt, according to its financial statements. Long-term bank debt was 22 billion yen.

The MSCI Asian index dropped 15 percent in less than four weeks from its July 24 record on concern tighter credit markets would derail global economic growth. The benchmark has since recouped some of its losses on speculation the Federal Reserve will cut interest rates today to help prevent a U.S. recession.

Toyota, the second-largest automaker in the U.S., lost 1.7 percent to 6,420 yen. LG.Philips LCD, the world's second-largest maker of liquid-crystal screens, slid 4 percent to 39,750 won. Westfield Group, the world's biggest shopping center owner by market value, slipped 2.1 percent to A$21.06.

Canon Inc. helped limit losses among technology shares after the company said it will spend as much as 50 billion yen to buy back up to 10 million shares, or 0.7 percent of its outstanding stock, to prepare for possible acquisitions. Canon, Japan's most profitable office equipment maker, rose 2.5 percent to 6,140 yen.

Oil, Gold

Singapore Airlines Ltd., the most profitable carrier in Asia, declined 1.6 percent to S$18.40. Fuel accounted for more than 37 percent of its expenses for the year ended March 31. Korean Air Lines Co., South Korea's largest, lost 3.5 percent to 58,100 won.

Thai Airways International Pcl, Southeast Asia's second- biggest carrier by market value, fell 0.6 percent to 41.5 baht. The stock also slid on speculation a fatal plane crash by a rival airline in the resort island of Phuket will dent tourism earnings.

Crude oil in New York rose above $81 a barrel for the first time on speculation rising global demand may hamper efforts to store fuel for the fourth quarter. Oil for October delivery climbed to as much as $81.24 in after-hours trading after gaining 1.9 percent to $80.57 yesterday.

Cnooc, China's largest offshore oil explorer, added 1.7 percent to HK$10.50 in Hong Kong. PetroChina Co., its biggest producer, rose 0.2 percent to HK$11.52. Keppel Corp., the world's No. 1 rig builder, gained 2.3 percent to S$13.50 in Singapore.
Newcrest Mining, Australia's largest gold miner, jumped 4.4 percent to A$26.27. Zijin Mining Group Co., owner of China's largest gold mine, gained 2.5 percent to HK$10.14.

Gold reached $728.90 an ounce on the Comex division of the New York Mercantile Exchange, the highest since May 12, 2006.

To contact the reporter for this story: Chen Shiyin in Singapore at schen37@bloomberg.net ; Emma O'Brien in Wellington on eobrien6@bloomberg.net .

http://www.bloomberg.com/apps/news?pid=20601084&sid=aSLQyPUUoJdk&refer=stocks

 

[Uncle Max]

Who is Jim Cramer?

He used to run a hedge fund. Now he is writing for different publications about stocks and appears on TV. He also wrote a great book "Confessions of a Street Addict": Amazon.com: Confessions of a Street Addict: Books: James J. Cramer

 

[Yuriy]

He used to run a hedge fund. Now he is writing for different publications about stocks and appears on TV. He also wrote a great book "Confessions of a Street Addict": Amazon.com: Confessions of a Street Addict: Books: James J. Cramer

Seems to be an interesting book to read along with a few others that he wrote.