Special Reports

Trading Radar for 11/12: Wal-Mart (WMT), Blockbuster (BBI), Nordstrom (JWN), Walt Disney (DIS), Kohl's (KSS) Report Nov 11, 2009 03:05PM

The Trading Radar highlights key earnings and economic announcements for tomorrow's trading session:

Before Market Opens:
Economics:
8:30am ET

• Initial Jobless Claims - Street Sees 510K

Earnings:

Addus Homecare Corp. (NYSE: ADUS) – no consensus
AECOM (NYSE: ACM) – consensus EPS $0.46
Alliant Techsystems Inc. (NYSE: ATK) – consensus EPS $2.07
AmBev - Companhia de Bebidas Das Americas (NYSE: ABV) – consensus EPS $2.51
Brooks Automation (NYSE: BRKS) – consensus loss $0.25
China Automotive Systems Inc. (NYSE: CAAS) – consensus EPS $0.15
Cinedigm Digital Cinema Corp (NYSE: CIDM) – no consensus
Companhia Brasileira de Distribuicao (NYSE: CBD) – consensus EPS $1.52
Dovers Saddlery Inc. (NASDAQ: DOVR) – consensus EPS $0.04
Evolution Petroleum Corporation (NYSE: EPM) – consensus loss $0.02
Gammon Gold Inc. (NYSE: GRS) – consensus EPS $0.05
Global Sources Ltd. (NASDAQ: GSOL) – consensus EPS $0.05
Henry Bros. Electronics, Inc. (NYSE: HBE) – no consensus
HSN, Inc. (NASDAQ: HSNI) – consensus EPS $0.18
Incredimail Ltd. (NASDAQ: MAIL) – no consensus
Intelligent Systems (NYSE: INS) – no consensus
Kohls Corporation (NYSE: KSS) – consensus EPS $0.61
Kongzhong Corp. (NASDAQ: KONG) – consensus EPS $0.10
Lee Enterprises, Incorporated (NYSE: LEE) – no consensus
MAXIMUS, Inc. (NYSE: MMS) – consensus EPS $0.79
P&F Industries (NASDAQ: PFIN) – no consensus
Pharmathene (NYSE: PIP) – consensus loss $0.19
Quigley (NASDAQ: QGLY) – consensus loss $0.26
Rand Logistics Inc. (NASDAQ: RLOG) – consensus EPS $0.26
RRSATGlobal Communications Networks Ltd. (NYSE: RRS) – consensus EPS $0.20
Seahawk Drilling (NASDAQ: HAWK) – consensus loss $1.65
Telefonica S.A. (NYSE: TEF) – no consensus
The Greenbrier Companies (NYSE: GBX) – consensus loss $0.03
VCG Holding Corp. (NASDAQ: VCGH) – consensus EPS $0.05
VirtualScopics, Inc. (NASDAQ: VSCP) – consensus loss $0.01

Intraday or Not Specified:
Economics:
11:00am ET

• Crude Inventories - no Street consensus
  
  
• Treasury Budget - Street Sees ($150 billion)

Earnings:

Air Transport Services Group, Inc. (NASDAQ: ATSG) – no consensus
American Medical Alert (NASDAQ: AMAC) – no consensus
ARYx Therapeutics (NASDAQ: ARYX) – consensus loss $0.01
Banco de Chile (NYSE: BCH) – consensus EPS $0.82
BCE, Inc (NYSE: BCE) – consensus EPS $0.68
Birner Dental Management Services (NASDAQ: BDMS) – no consensus
BluePhoenix Solutions Ltd. (NASDAQ: BPHX) – consensus EPS $0.05
Brasil Foods S.A. (NYSE: PDA) – consensus EPS $0.37
Cenveo (NYSE: CVO) – consensus EPS $0.11
Chaparral Energy Inc (NYSE: CPR) – no consensus
China Transinfo Technology Corp. (NASDAQ: CTFO) – consensus EPS $0.17
EFJohnson Technologies, Inc. (NASDAQ: EFJI) – consensus EPS $0.02
EnCana Corporation (NYSE: ECA) – consensus EPS $1.17
First California Financial Group, Inc. (NASDAQ: FCAL) – consensus loss $0.02
Hong Kong Highpower Tech Inc (NYSE: HPJ) – no consensus
Interleukin Genetics (NYSE: ILI) – consensus loss $0.06
Inuvo, Inc. (NASDAQ: INUV) – no consensus
Luna Innovations Incorporated (NASDAQ: LUNA) – no consensus
MDRNA, Inc. (NASDAQ: MRNA) – no consensus
Medcath Corporation (NASDAQ: MDTH) – consensus EPS $0.12
MER Telemanagement Solutions (NASDAQ: MTSL) – no consensus
Meridian Bioscience, Inc (NASDAQ: VIVO) – consensus EPS $0.21
Nash Finch Company (NASDAQ: NAFC) – consensus EPS $1.04
Netsol Technologies (NASDAQ: NTWK) – consensus loss $0.02
NTN Buzztime, Inc. (NYSE: NTN) – no consensus
Point.360 (NASDAQ: PTSX) – no consensus
Repsol YPF (NYSE: REP) – consensus EPS $0.41
Sapiens International (NASDAQ: SPNS) – no consensus
Suburban Propane Partners (NYSE: SPH) – consensus loss $0.57
TAM S.A. (NYSE: TAM) – consensus EPS $0.69
Transcept Pharmaceuticals Inc. (NYSE: TSP) – consensus EPS $0.22
Urban Outfitters (NASDAQ: URBN) – consensus EPS $0.35
Wal-Mart Stores, Inc. (NYSE: WMT) – consensus EPS $0.81
Winland Electronics (NYSE: WEX) – no consensus
Xinhua Sports & Entertainment Limited (NYSE: XSE) – consensus EPS $0.11

After Market Closes:
Earnings:

3SBIO Inc. (NYSE: SSRX) – consensus EPS $0.15
AFC Enterprises, Inc. (NYSE: AFCE) – consensus EPS $0.17
Banks.com, Inc. (NYSE: BNX) – no consensus
Biofueld Energy Corp. (NYSE: BIOF) – no consensus
Blockbuster Inc. (NYSE: BBI) – consensus loss $0.11
Charles & Colvard (NYSE: CTHR) – no consensus
Copa Holdings SA (NYSE: CPA) – consensus EPS $1.00
Darling International (NYSE: DAR) – consensus EPS $0.15
eDiets.com, Inc. (NYSE: DIET) – consensus loss $0.09
ESCO Technologies Inc. (NYSE: ESE) – consensus EPS $0.77
Flexible Solutions International Inc. (NYSE: FSI) – no consensus
ICX Technologies Inc. (NYSE: ICXT) – consensus loss $0.07
Image Entertainment (NYSE: DISK) – no consensus
Interval Leisure Group, Inc. (NYSE: IILG) – consensus EPS $0.15
IRIDEX (NYSE: IRIX) – no consensus
Jamba Juice (NYSE: JMBA) – consensus EPS $0.00
Key Technology (NYSE: KTEC) – consensus EPS $0.02
Lime Energy Co. (NYSE: LIME) – no consensus
Matthews International (NYSE: MATW) – consensus EPS $0.58
Microsemi (NYSE: MSCC) – consensus EPS $0.23
Nordstrom (NYSE: JWN) – consensus EPS $0.39
North American Palladium (NYSE: PAL) – no consensus
OccuLogix, Inc. (NYSE: TEAR) – no consensus
Psivida Corp. (NYSE: PSDV) – no consensus
Qualstar Corporation (NYSE: QBAK) – consensus loss $0.09
Taseko Mines (NYSE: TGB) – no consensus
Telestone Technologies Corp. (NYSE: TSTC) – no consensus
The Management Network Group (NYSE: TMNG) – no consensus
Vision-Sciences, Inc. (NYSE: VSCI) – no consensus
Walt Disney (NYSE: DIS) – consensus EPS $0.41
WebMediaBrands Inc. (NYSE: WEBM) – no consensus
Westport Innovations (NYSE: WPRT) – consensus loss $0.30
Willdan Group Inc. (NYSE: WLDN) – consensus loss $0.04

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Unusual 11 Mid-Day Movers 11/11: NCST, SMI, MSN, CHLN Higher; TONE, RHIE, CLWR, STV Lower Nov 11, 2009 01:08PM

NUCRYST Pharmaceuticals Corp. (NASDAQ: NCST) 69% HIGHER; announced today the execution of a definitive agreement with subsidiaries of Smith & Nephew plc. (NYSE: SNN) for the sale to Smith & Nephew of substantially all of Nucryst's operations and assets including all rights to its proprietary nanocrystalline silver technology for cash consideration of $21 million plus the value of working capital and subject to certain adjustments. Click here for the full report.

Semiconductor Manufacturing International (NYSE: SMI) 54.3% HIGHER; spiking on news that its CEO will resign and that it has settled all pending lawsuits with Taiwan Semiconductor Manufacturing (NYSE: TSM).

TierOne (Nasdaq: TONE) 34.5% LOWER; in a Form 8-K last night, TierOne announced that the Office of Thrift Supervision has informed the bank that it is below both the enhanced capital requirements set forth in the supervisory agreement as well as the ratios normally required to be deemed "well capitalized" by the OTS. The regulator said it may be forced to take added actions.

Emerson Radio (NYSE: MSN) 31.4% HIGHER; reports Q2 EPS of $0.12, 5 cents better than the analyst estimate of $0.07. Revenue for the quarter was $51.77 million, which compares to the estimate of $48.65 million.

China Housing & Land Development Inc. (NASDAQ: CHLN) 25.5% HIGHER; reports Q3 EPS of $0.07, ex-items, 1 cent lower than the analyst estimate of $0.08. Revenue for the quarter was $23.8 million, which compares to the estimate of $20.40 million. Sees Q4 contract sales of $32-$34 million.

Sypris Solutions, Inc. (NASDAQ: SYPR) 22.1% HIGHER; Sypris Electronics, LLC, a subsidiary of Sypris Solutions, announced today that it has been awarded an Indefinite Delivery Indefinite Quantity contract from the United States Department of Defense for its RASKL (KIK-30) electronic key fill device. This contract is in support of the DoD's modernization effort to replace the aging KYK-13 key fill device. The product was designed and will be produced at the Sypris Electronics facility located in Tampa, Florida. The RASKL IDIQ contract is for a five-year period with a not-to-exceed value of $200 million.

Universal Security Instruments Inc. (NYSE: UUU) 20.9% HIGHER; reported Q2 EPS of $0.39, compared to $1.64 in the same quarter last year. Revenue for the quarter was $7.90 million, versus $8.31 million in Q208.

RHI Entertainment, Inc. (NASDAQ: RHIE) 12.9% LOWER; continuing lower today following yesterday's 62% drop on a Q3 miss. This morning, the stock was downgraded at both Thomas Weisel and JPMorgan.

Clearwire Corporation (NASDAQ: CLWR) 12.7% LOWER; reports a Q3 loss of $0.43, in-line with the analyst estimate of ($0.43). Revenue for the quarter was $68.8 million, which compares to the estimate of $66.62 million.

China Digital TV Holding Co. Ltd (NYSE: STV) 12% LOWER; reports Q3 EPS of $0.08, 2 cents worse than the analyst estimate of $0.10. Revenue for the quarter was $12.2 million, which compares to the estimate of $12.62 million. Based on information available as of November 10, 2009, China Digital TV expects smart card shipments for the fourth quarter of 2009 to be in the range of 2.2 million to 2.4 million. Net revenues for the fourth quarter of 2009 are expected to be in the range of US$12.5 million to US$13.6 million, representing a year-over-year decrease in the range of 25% to 19%. (Revenue consensus is $14.32M)

Helicos BioSciences (Nasdaq: HLCS) 11.9% LOWER; shares are continuing lower today follow yesterday's 14% decline on news of a $50 million shelf filing.

To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.

Notable ETF Movers: XLF, XHM, AGQ, SGG Up; IEO, EWU, TBT Down Nov 11, 2009 12:05PM

StreetInsider.com Notable ETF Movers:

HIGHER;

• Financial Select Sector SPDR (NYSE: XLF) up 1.2% following comments from a executives at a BofA/ML banking conference. Citigroup's (NYSE: C) Vice Chairman Ned Kelly said the company's balance sheet is very liquid.
  
  
• SPDR S&P Homebuilders (NYSE: XHB) up about 2.4% to $15.20 after Toll Brothers (NYSE: TOL) reported a strong preliminary four quarter results.
  
  
• Ultra Silver ProShares (NYSE: AGQ) is trading about 1.1% higher as December silver futures are up about 1.8%, after a relatively flat trading day yesterday. Weakness in the dollar is contributing to the move higher.
  
  
• iPath DJ AIG Sugar TR Sub-Idx ETN (NYSE: SGG) up 3.44% to $63.98 as futures rise on news that India may need to import 2.5 - 3 million tons on drought capping production at 15.3 million tons, short of the country's annual consumption.
  
  

LOWER:

• iShares Dow Jones US Oil & Gas Ex Index (NYSE:
  IEO) down about 1.2 % on the eve of the crude inventory report. Futures were lower in Asia after a U.S. industry report showed a surprise build in crude and distillate stocks.
  
  
• iShares MSCI United Kingdom Index (NYSE: EWU) is trading down about 1% as the GBP falls compared to the USD.
  
  
• UltraShort 20+ Year Treasury ProShares (NYSE: TBT) down about 1.7% to $47.02 following a massive $25 billion U.S. treasury auction yesterday. The bond market is closed today due to Veterans Day.

Notable Analyst Rating Changes 11/11: SMI, TOL, SFD, MCHP Upgraded; PCLN, SNV, RHIE, ADBE, SIGM, HUM Downgraded Nov 11, 2009 10:56AM

UPGRADES:
Bank of America upgrades Semi Manufacturing International (NYSE: SMI) from Underperform to Neutral.

Wells Fargo Securities upgrades Toll Brothers, Inc. (NYSE: TOL) Market Perform to Outperform with a $24-$26 valuation. Click Here for more color.

Deutsche Bank upgrades Smithfield Foods (NYSE: SFD) from Hold to Buy and raised their price target from $12 to $20. Click Here for more color.

Goldman Sachs upgraded Microchip Technology Inc. (NASDAQ: MCHP) from Sell to Neutral. Click Here for more color.

For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades

DOWNGRADES:
Credit Suisse downgrades Priceline.com (NASDAQ: PCLN) to Neutral. Price target $210.

Morgan Keegan downgrades Synovus Financial (NYSE: SNV) from Outperform to Market Perform.

Thomas Weisel and J.P. Morgan downgrade RHI Entertainment (NASDAQ: RHIE) from to Underweight and Neutral, respectively. J.P. Morgan slashed their price target from $4 to $0.75.

Oppenheimer downgrades Adobe (NASDAQ: ADBE) to Market Perform.

Collins Stewart downgrades Sigma Designs (NASDAQ: SIGM) to Sell. Price target $9. For more color, Click Here.

Hilliard Lyons downgrades Humana (NYSE: HUM) from Buy to Neutral.

For daily real-time Downgrades go to http://www.streetinsider.com/Downgrades

NEW COVERAGE:
MKM Partners initiates coverage on Palm (NASDAQ: PALM) with a Neutral rating.

Bernstein initiates coverage on Hyatt Hotels (NYSE: H) with an Underperform rating.

Bank of America re-instates coverage on Wynn Resorts (NASDAQ: WYNN) with a Buy rating. Price target $75.

Susquehanna initiates coverage on Cameron International (NYSE: CAM) with a Positive. Price target $48. Click Here for more color.

J.P. Morgan initiates coverage on Banco Santander (NASDAQ: BSBR) with an Overweight rating.

For daily real-time New Coverage go to http://www.streetinsider.com/New+Coverage

Notable Mergers and Acquisitions of the Day 11/11: BIN/WSII, NCST/SNN, SYK/SURG, LOGI/LifeSize Nov 11, 2009 10:22AM

• IESI-BFC Ltd. (NYSE: BIN) and Waste Services, Inc. (NASDAQ: WSII) today announced that their respective boards of directors have each approved a definitive merger agreement that establishes North America's third largest solid waste management company with expected pro forma annual revenues of nearly $1.5 billion. The combined company, to be headquartered in Toronto, will have more than 6,000 employees serving commercial, industrial and residential customers in 11 U.S. states and the District of Columbia, and in six Canadian provinces. The transaction, which is expected to close during the first calendar quarter of 2010, is expected to generate $25-$30 million in net pre-tax annual run rate synergies by the end of the second year following closing, and to be accretive to IESI-BFC's earnings and free cash flow per share in the first year following closing.
  
  Under the terms of the agreement:
  • IESI-BFC will issue 27.8 million common shares to WSI shareholders, representing approximately 23% ownership in the combined company, assuming conversion of IESI-BFC's Participating Preferred Shares.
    
    
  • The exchange ratio is 0.5833 common shares of IESI-BFC for each WSI common share held.
  Based on the closing stock prices of both companies on Tuesday, November 10, 2009, this represents a premium of approximately 27% over the volume weighted average closing price of WSI's shares for the previous 30 trading days of $6.10. This premium reflects a fully-diluted share count for WSI at closing of 47,660,982, which includes restricted share units vesting on change of control, as well as in-the-money options.
  
  
• NUCRYST Pharmaceuticals Corp. (NASDAQ: NCST) announced today the execution of a definitive agreement with subsidiaries of Smith & Nephew plc. (NYSE: SNN) for the sale to Smith & Nephew of substantially all of Nucryst's operations and assets including all rights to its proprietary nanocrystalline silver technology for cash consideration of $21 million plus the value of working capital and subject to certain adjustments. The closing of the Sale Transaction is subject to customary conditions including the approval of Nucryst shareholders.
  
  Nucryst also entered into an amalgamation agreement with The Westaim Corporation, which currently owns approximately 75% of Nucryst's outstanding common shares. Under the amalgamation agreement, Nucryst will amalgamate with a newly formed subsidiary of Westaim to form Amalco and Nucryst shareholders other than Westaim will receive one redeemable preferred share in the capital of Amalco, which share will be redeemed for $1.77 in cash upon the completion of the Amalgamation. Completion of the Amalgamation is subject to certain conditions including closing of the Sale Transaction and the approval of Nucryst shareholders. Following the completion of the Amalgamation, Nucryst intends to delist from the TSX and NASDAQ stock exchanges.
  
  The board of directors of Nucryst engaged KPMG Corporate Finance Inc. to provide a fairness opinion regarding the Sale Transaction and an independent valuation of Nucryst for the purpose of the Amalgamation, in accordance with Multilateral Instrument 61-101. Specifically, KPMG Corporate Finance Inc. has opined that the consideration offered in the S&N Agreement is fair, from a financial point of view, to Nucryst. In addition, the valuation prepared by KPMG Corporate Finance Inc. provides a valuation range of $1.72 to $1.82 per common share, subject to certain assumptions.
  
  The board of directors of Nucryst unanimously determined that the Sale Transaction is in the best interests of Nucryst and is fair, from a financial point of view, to Nucryst and that the value proposed to the minority shareholders of Nucryst under the amalgamation agreement is fair, from a financial point of view, to the common shareholders of Nucryst (other than Westaim). In light of these conclusions, the Nucryst board of directors unanimously determined to enter into the S&N Agreement and the amalgamation agreement and to recommend that Nucryst shareholders vote in favor of the resolutions authorizing the Sale Transaction and the Amalgamation.
  
  Closing under the S&N Agreement and completion of the Amalgamation is conditional upon, among other things, approval of the shareholders of Nucryst at a special meeting called for such purpose. The Sale Transaction and the Amalgamation will each separately be proposed to shareholders for consideration. The Sale Transaction requires the approval of more than two thirds of the votes cast at the meeting and Westaim has entered into a support agreement with Smith & Nephew under which it will vote in favor of the S&N Agreement, subject to certain limited exceptions applicable where a financially superior proposal has been made. The Amalgamation requires both the approval of more than two thirds of the votes cast at the meeting and, pursuant to Multilateral Instrument 61-101, the approval of a simple majority of shareholders other than the directors and officers of Westaim. If the Sale Transaction is approved by shareholders and other conditions to closing are satisfied, the transaction will proceed, irrespective of whether the Amalgamation is approved. The S&N Agreement includes a non-solicitation covenant on the part of Nucryst, subject to a customary "fiduciary out" provision, the right of Smith & Nephew to match any financially superior proposal and the payment of a $1.0 million termination fee by Nucryst to Smith & Nephew in certain circumstances. Details regarding the S&N Agreement and the amalgamation agreement will be included in Nucryst's management information circular which is expected to be mailed to shareholders in late November, 2009 for a shareholders meeting to be held in December, 2009.
  
  
• Stryker Corporation (NYSE: SYK) has acquired OtisMed Corporation, a privately held, software technology firm. OtisMed will focus on customizable instrumentation that has the potential to complement the many benefits that surgeons and patients realize from Stryker's Triathlon Knee System, as well as other Stryker implants. OtisMed will operate as part of Stryker's Orthopaedics Division and remain located in Alameda, California.
  
  In addition, Stryker announced it has entered into definitive agreements with Mutoh Co., Ltd., a Japanese company, and certain of its affiliates, and Synergetics USA, Inc. (NASDAQ: SURG) to acquire assets used to produce the Sonopet Ultrasonic Aspirator control consoles, hand pieces and accessories as well as the worldwide rights to market and sell these products. The closing of these combined transactions is anticipated to occur prior to December 31, 2009, subject to agreed upon conditions. These products will be incorporated into Stryker's Instruments Division which is headquartered in Kalamazoo, Michigan.
  
  The terms of these two combined transactions include $67 million in upfront payments as well as potential future milestone and royalty payments of up to an additional $36 million.
  
  
• Logitech International (Nasdaq: LOGI) announced that it has agreed to acquire privately held LifeSize Communications of Austin, Texas for $405 million in cash.
  
  LifeSize is a global leader in high definition (HD) video communication solutions, with more than 9,000 video conferencing customers across 80 countries in large enterprises, small-to-medium businesses (SMBs) and public healthcare, education and government organizations.

To see all the Mergers & Acquisitions for today in real-time go to http://www.streetinsider.com/Mergers+and+Acquisitions