Post Market News: T, ZNGA, JCP, FCX, VRA, LULU, GRMN, SIRI, SBUX, AKAM

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Post Market News: T, ZNGA, JCP, FCX, VRA, LULU, GRMN, SIRI, SBUX, AKAM

Post Market News: T, ZNGA, JCP, FCX, VRA, LULU, GRMN, SIRI, SBUX, AKAM

Post Market News: T, ZNGA, JCP, FCX, VRA, LULU, GRMN, SIRI, SBUX, AKAM, are among tickers in focus for December 6th 2012.

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Leon Cooperman Likes These Real Estate, Credit And Private Equity Funds

InvestMany famous hedge fund managers engage in philanthropy, often through their own foundations. Leon Cooperman of Omega Advisors founded his foundation with his wife Toby, and he invested the foundation's funds into many hedge funds and other assets. Q3 2021 hedge fund letters, conferences and more Here are Leon Cooperman's favorite hedge funds based on Read More

•    US:  Dow: 13074.00 (0.30%), S&P 500: 1413.32 (0.29%), NASDAQ: 2989.27 (0.52%)
•    Europe: CAC: 3601.65 (0.31%), DAX: 7534.54 (1.06%), FTSE: 5901.42 (0.16%)
•    Asia-Pacific: Australia: 4509.30 (-0.25%), China: 2029.24 (-0.13%), Hong Kong: 22249.81 (-0.09%), India: 5930.90 (0.52%), Japan: 9545.16 (0.80%).
•    Metals: Gold: 1701.80 (0.47%), Silver: 33.11 (0.48%), Copper: 3.64 (-1.14%)
•    Energy: Crude Oil: 86.26 (-1.84%), Natural Gas: 3.64 (-1.57%)
•    Commodities: Corn: 7.51 (-0.82%), Soya Bean: 14.92 (0.86%), Wheat: 8.62 (0.23%)
•    Currency: Euro (€) / US Dollar ($) (EURUSD): 1.2969 (0.77%), British Pound Sterling (UK£) / US Dollar ($) (GBPUSD): 1.6049 (0.26%), US Dollar ($) / Japanese Yen (¥) (USDJPY): 82.3750 (-0.05%)
•    10 year US Treasury: 1.584% (-0.003)

 

Market and Economy News Update

U.S. markets end higher: U.S. markets closed higher in a choppy session on Thursday as investors await monthly government jobs report at the end of the week. On the economic front, jobless claims fell 25,000 to a seasonally adjusted 370,000 in the week ended December 1, the Labor Department said today. Economists were expecting a reading of 380,000. The Dow Jones Industrial Average (INDEXDJX:.DJI) and the S&P 500 (INDEXSP:.INX) edged 0.3 percent higher, while the NASDAQComposite (INDEXNASDAQ:.IXIC) added 0.5 percent.

Oil prices fall: Oil prices declined on Thursday to their lowest level in three weeks after the ECB slashed its euro-area growth forecasts. Uncertainty about the U.S. budget negotiations also evoked investor concerns. Crude oil for January delivery lost 1.8 percent, to settle at $86.26 a barrel on the New York Mercantile Exchange. Brent oil for January settlement slid 1.6 percent to $107.07 a barrel on the London-based ICE Futures Europe exchange.

Stocks in Focus

•    Online game maker Zynga Inc (NASDAQ:ZNGA) moved higher after it filed for a Nevada gaming license, its first step towards entering the U.S. gambling market.
•    Akamai Technologies, Inc. (NASDAQ:AKAM) rose 10 percent after the internet technology company entered into a deal with AT&T Inc. (NYSE:T) to co-sell their services, and provide Akamai’s content to AT&T customers.
•    Satellite radio company Sirius XM Radio Inc (NASDAQ:SIRI) closed 0.9 percent higher after its board approved a $2 billion buyback program, and announced a special dividend of 5 cent a share.
•    Palo Alto Networks Inc (NYSE:PANW) posted first quarter earnings excluding one-time items of 4 cents a share, on revenue of $85.9 million. Analysts were expecting the network-security technology company to earn 3 cents a share on $83.7 million in revenue.
•    Metallurgical coal producer Walter Energy, Inc. (NYSE:WLT) surged 5.3 percent after Britain’s Daily Mail newspaper reported that BHP Billiton Limited (ASX:BHP) (NYSE:BHP) (LON:BLT) is considering a cash bid for the company.
•    Apparel retailer The Men’s Wearhouse, Inc. (NYSE:MW) fell 2.7 percent after it lowered its guidance for the year and said same-store sales in the U.S. and Canada declined in November.
•    J.C. Penney Company, Inc. (NYSE:JCP) moved higher amid investor hopes that the retailer would form a real estate investment trust to acquire its assets, following the lead of Canadian food retailer, Loblaw Companies Limited (TSE:L), which announced similar plans on Thursday.
•    Safeway Inc. (NYSE:SWY) moved higher after the second-largest U.S. grocery store chain accelerated its regular quarterly cash dividend to December from January.
•    Broadcom Corporation (NASDAQ:BRCM) added 3.2 percent after the chip maker raised its fourth-quarter sales forecast, and said its profit margins will be better than previously expected.
•    Investment manager Epoch Holding Corp (NASDAQ:EPHC) soared 26 percent after it agreed to be acquired by TD Bank Group for $668 million, or $28 per share in cash.
•    Noble Energy, Inc. (NYSE:NBL) gained 3.4 percent after the Houston-based company said it expects fourth-quarter sales volumes from continuing operations to be higher than the top end of its forecast.
•    Yum! Brands, Inc. (NYSE:YUM) closed higher after CEO David Novak, speaking at an investor’s conference, said he sees very solid sales growth in its restaurants in China.
•    H&R Block, Inc. (NYSE:HRB) jumped 5 percent after the tax-services provider posted smaller than expected fiscal second-quarter loss. Revenues also topped Street expectations.
•    Women’s accessories maker Vera Bradley, Inc. (NASDAQ:VRA) lost ground as the company forecast a disappointing fourth quarter and lowered its full-year revenue outlook.
•    Pork producer Smithfield Foods, Inc. (NYSE:SFD) closed marginally higher on Thursday after second quarter adjusted earnings topped estimates, but revenue was slightly short of consensus.
•    Delcath Systems, Inc. (NASDAQ:DCTH) tumbled in trade after it sought approval from the U.S. Food and Drug Administration for a narrower use than initially anticipated for a new liver cancer drug.
•    Lululemon Athletica inc. (NASDAQ:LULU) closed higher after the athletic apparel maker reported better than expected third quarter earnings and revenue.
•    Align Technology, Inc. (NASDAQ:ALGN) fell 2 percent after the braces maker said it will cut jobs and shuffle management as part of an organizational change. The company also forecast fourth-quarter profit and revenue to be at the lower end of its previous downbeat guidance.
•    Personal-navigation devices maker Garmin Ltd. (NASDAQ:GRMN) gained 5.7 percent after Standard & Poor’s said it will add the Switzerland-based company to the S&P 500 (INDEXSP:.INX) index after the close of trading on Tuesday, December 11. Garmin will replace printing company R.R. Donnelley & Sons Company (NASDAQ:RRD).
•    Medical products maker Stryker Corporation (NYSE:SYK) raised its quarterly dividend by 25 percent to 26.5 cents per share from 21.25 cents per share, and also boosted its share repurchase program by $405 million to a total of $1 billion.
•    Transportation services company UTi Worldwide Inc. (NASDAQ:UTIW) closed lower after posting weaker-than-expected quarterly earnings.

Hedge Fund News Update
•    Computer-driven hedge funds, Winton Capital and Cantab Capital, with a view to keeping their strategies as secret as possible, and cutting back on sizeable commissions, have acquired membership seats at the Chicago Mercantile Exchange, Reuters reported on Thursday.
•    Diamondback Capital Management LLC told investors it will close down after an unexpected flood of redemption requests.
•    Hedge funds gained 0.33 percent in November, and are up 2.37 percent on the year, according to the Dow Jones Credit Suisse Core Hedge Fund Index.
•    Connecticut-based Astenbeck Fund, one of the world’s largest commodity hedge funds, which appeared headed for a second straight year of losses, managed to return to profit just before the year end, according to a Reuters report.
•    The average emerging-market hedge fund returned 1.3 percent in November, beating the S&P 500 (INDEXSP:.INX)’s 0.6 percent return, according to new data from eVestment’s HFN Research.

 

Brokerage Upgrades and Downgrades on Thursday, December 06, 2012

•    Apartment Investment & Management Co. (NYSE:AIV) was lifted to “buy” from “neutral” by analysts at UBS AG with a target price of $28.
•    Alexandria Real Estate Equities Inc (NYSE:ARE) was upgraded to “buy” from “neutral” by analysts at UBS AG with a target price of $75.
•    Boston Properties, Inc. (NYSE:BXP) was raised to a “buy” rating from a “neutral” rating by analysts at UBS AG with a target price of $120.
•    Canadian Pacific Railway Limited (TSE:CP) (NYSE:CP) was lifted to a “buy” from “hold” by analysts at Stifel Nicolaus with a target price of $138.
•    Chevron Corporation (NYSE:CVX) was upgraded to “buy” from “hold” by analysts at Dahlman Rose with a target price of $120.
•    EverBank Financial Corp (NASDAQ:EVER) was raised to “strong buy” from “outperform” by analysts at Raymond James with a target price of $17.
•    Fastenal Company (NASDAQ:FAST) was lifted to “outperform” from “market perform” by analysts at William Blair.
•    General Growth Properties Inc (NYSE:GGP) was upgraded to “buy” from “neutral” by analysts at UBS AG with a target price of $22.
•    Ocwen Financial Corporation (NYSE:OCN) was raised to “outperform” from “market perform” by analysts at Keefe, Bruyette & Woods with a target price of $40.
•    Starbucks Corporation (NASDAQ:SBUX) was lifted to a “outperform” from “neutral” by analysts at Robert W. Baird with a target price of $62.
•    Southern Copper Corp (NASDAQ:SCCO) was upgraded to “buy” from “neutral” by analysts at Citigroup with a target price of $41.
•    Simon Property Group, Inc (NYSE:SPG) was raised to “buy” from “neutral” by analysts at UBS AG with a target price of $170.
•    Silver Standard Resources Inc. (NASDAQ:SSRI) was lifted to “buy” from “accumulate” by analysts at Global Hunter Securities.

•    AutoZone, Inc. (NYSE:AZO) was downgraded to “perform” from “outperform” by analysts at Oppenheimer with a target price of $400.
•    CBL & Associates Properties, Inc. (NYSE:CBL) was lowered to “sell” from “neutral” by analysts at UBS AG.
•    Freeport-McMoRan Copper and Gold Inc (NYSE:FCX) was cut to “neutral” from “buy” by analysts at Goldman Sachs with a target price of $38.
•    InterContinental Hotels Group PLC (LON:IHG) (NYSE:IHG) was downgraded to “neutral” from “outperform” by analysts at Credit Suisse.
•    JDS Uniphase Corp (NASDAQ:JDSU) was lowered by analysts at Raymond James from an “outperform” rating to a “market perform” rating.
•    Metlife Inc (NYSE:MET) was cut to “equal weight” from “overweight” by analysts at Barclays Capital with a target price of $37.
•    Netflix, Inc. (NASDAQ:NFLX) was downgraded to “average” from “above average” by analysts at Caris & Co. with a target price of $60.
•    Plains Exploration & Production Company (NYSE:PXP) was lowered by analysts at Capital One from an “add” rating to a “neutral” rating.
•    Scripps Networks Interactive, Inc. (NYSE:SNI) was cut to “neutral” from “buy” by analysts at Goldman Sachs with a target price of $65.
•    Weingarten Realty Investors (NYSE:WRI) was downgraded to “sell” from “neutral” by analysts at UBS AG.
•    W.W. Grainger, Inc. (NYSE:GWW) was lowered by analysts at UBS AG from a “buy” rating to a “neutral” rating with a target price of $202.

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