Jefferies Gets Very Bullish on Two Top Video Game Makers

24/7 Wall St.

Grand Theft Auto logoJefferies has taken a more bullish stance on Take-Two Interactive Software Inc. (NASDAQ: TTWO) and Electronic Arts Inc. (NASDAQ: EA). The firm predicts that the big gains experienced by both companies over the past few years will continue on both industry and company-specific tailwinds.

As for the industry tailwinds, there is an increasing penetration of current-generation game consoles, which is beneficial to each of these companies, allowing for more games to be playable. Ultimately this will result in increased margins for both companies and continued stock gains.

EA is considered to have one of the strongest “multiyear game pipelines” that Jefferies has ever seen.

Take-Two was raised to a Buy rating from Hold with a price target of $35 (versus a $29 prior target and a $28.01 close) at Jefferies. The stock has a consensus analyst price target of $33.49 and a 52-week trading range of $20.13 to $30.80.

Other…

View original post 209 more words

Advertisements
Jefferies Gets Very Bullish on Two Top Video Game Makers

Will Boeing Be Able to Replace an Icon?

24/7 Wall St.

Boeing 787_10Boeing Co. (NYSE: BA) late Tuesday named president and Chief Operating Officer Dennis Muilenburg to replace Jim McNerney as chief executive officer of the company effective July 1. McNerney has held the top job at Boeing since 2005 but has reached the company’s mandatory retirement age of 65. McNerney will remain as chairman until the end of next February.

Muilenburg has had a 30-year career with Boeing, leading the Defense and Space Systems group before being named chief operating officer in 2013.

While Muilenburg should get more attention, the opportunity to look back over McNerney’s career as Boeing’s leader is too good to pass up. When he took over in 2005, the company had replaced two CEOs in four years. Phil Condit resigned as chief executive in 2003 following a scandal over the U.S. Air Force tanker program. He was followed by Harry Stonecipher, who came out of retirement in…

View original post 449 more words

Will Boeing Be Able to Replace an Icon?

Short Sellers Get More Selective on Big Biotech

24/7 Wall St.

DNAThe short interest data are out for the June 15 settlement date. Biotech companies are considered a riskier group of stocks, with big upside and big downside. FDA rulings can make or break them. A single failed clinical trial can mean disaster for a stock. 24/7 Wall St. has reviewed the top biotech companies, without focusing on speculative companies.

The June 15 short interest data have been compared with the previous figures, and overall, short interest in the selected stocks was mixed.

Amgen Inc. (NASDAQ: AMGN) saw its short interest rise to 9.67 million shares from the previous reading of 8.60 million. Shares closed Wednesday at $159.89, in a 52-week trading range of $114.93 to $173.60.

Biogen Inc. (NASDAQ: BIIB) saw its short interest increase slightly to 2.58 million shares from the previous 2.54 million. The company was slowly approaching the lower part of its short interest range from back…

View original post 222 more words

Short Sellers Get More Selective on Big Biotech

Top Analyst Upgrades and Downgrades: Amazon, CenturyLink, Fitbit, Mobileye, Eli Lilly, Netflix, AT&T and More

24/7 Wall St.

investor researchStocks were indicated higher on Thursday. With markets close to all-time highs, the one trend seen for nearly four years now is that investors have bought every single stock market pullback. 24/7 Wall St. reviews dozens of analyst and brokerage research reports each morning to find new trading and investing ideas for its readers. Some of these analyst calls cover stocks to buy, and others are about stocks to sell or to avoid.

These are this Thursday’s top analyst upgrades, downgrades and initiations.

Amazon.com Inc. (NASDAQ: AMZN) was downgraded to Hold from Buy at Evercore ISI. Price target data was not seen, but Amazon has a consensus price target of about $468 (versus about $440 now) and a 52-week trading range of $284.00 to $452.65.

AT&T Inc. (NYSE: T) was raised to Buy from Neutral and the price objective was raised to $40 from $35 in the call. This is…

View original post 379 more words

Top Analyst Upgrades and Downgrades: Amazon, CenturyLink, Fitbit, Mobileye, Eli Lilly, Netflix, AT&T and More

SunEdison Semiconductor Announces Pricing for Secondary Offering

24/7 Wall St.

Semiconductor WaferSunEdison Semiconductor Ltd. (NASDAQ: SEMI) has just announced the pricing for its secondary offering. Shares will be offered for $18.25 per share, for a total of roughly 15.94 million shares. The offering is valued at about $290 million.

Deutsche Bank and Goldman Sachs are acting as lead book-running managers for the offering. Barclays, Credit Suisse and Morgan Stanley also are listed as book-running managers.

Note that the company will not receive any proceeds from the offering, only the selling shareholders.

The company primarily sells its products to the major semiconductor manufacturers throughout the world, including integrated device manufacturers, pure-play semiconductor foundries and, to a lesser extent, leading companies that specialize in wafer customization.

During 2014, SunEdison Semiconductor’s largest customers were Samsung, Taiwan Semiconductor and STMicroelectronics. It operates facilities in major semiconductor manufacturing regions throughout the world, including Taiwan, Malaysia, South Korea, Italy, Japan and the United States.

ALSO READ: Analyst…

View original post 235 more words

SunEdison Semiconductor Announces Pricing for Secondary Offering

Natural Gas Price and Inventory Fall as Demand Increases for Cooling

24/7 Wall St.

Blue flames of a gas stoveThe U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks increased by 75 billion cubic feet for the week ending June 19. Analysts polled by The Wall Street Journal expected a storage injection (increase) of 78 billion cubic feet. The five-year average for the week is an increase of around 86 billion cubic feet.

Natural gas futures for August delivery traded up about 2% in advance of the EIA’s report, at around $2.84 per million BTUs, and ticked down to $2.82 following release of the report. Last Thursday, natural gas closed at $2.81 per million BTUs, and natural gas futures peaked at just over $2.85 in the past five days. The 52-week low for natural gas futures is $2.57. One year ago, the price for a million BTUs was around $4.20.

Natural gas posted a decent price gain Thursday as temperatures for the next week are…

View original post 306 more words

Natural Gas Price and Inventory Fall as Demand Increases for Cooling

How Kroger Is Returning Capital to Investors

24/7 Wall St.

payoffKroger Co. (NYSE: KR) made a few strong moves during Thursday’s trading session, and it has found investors happy with these decisions. The board of directors had sweeping approvals for an increased dividend yield, a two-for-one stock split and a new share repurchase program.

First of all, the board approved a two-for-one stock split. The split will occur on or about July 13 for shareholders of record at the close of July 6. Based on the net number of shares outstanding in late May, the stock split will increase the number of common shares outstanding to 962 million from roughly 481 million. This will be the fifth stock split in the history of the company.

Kroger increased its quarterly dividend to $0.21 per share on a pre-split basis, or 13.5%. Effectively, after the split, the dividend will be halved to $0.105 per share. Since 2006, Kroger has delivered double-digit compound…

View original post 211 more words

How Kroger Is Returning Capital to Investors