Piper Jaffray
Piper Jaffray is a client-focused, middle market investment bank and institutional securities firm founded in 1895 and based in Minneapolis, Minnesota.
Its Investment Banking activities include raising capital through equity and debt financings for corporate clients; providing financial advisory services relating to mergers and acquisitions to consumer, financial institutions, health care, technology, alternative energy, business services, and industrial growth sectors; underwriting debt issuances for government and non-profit clients; and providing financial advisory and interest rate risk management services.
The company's equity and fixed income institutional sales and trading activities include equity and fixed income advisory and trade execution services for public and private corporations, public entities, non-profit clients, and institutional investors.
The Trading Radar highlights key earnings and economic announcements for tomorrow's trading session:
Before Market Opens:
Earnings:
Air Products and Chemicals Inc (NYSE: APD) – consensus EPS $1.12
Allegheny Technologies (NYSE: ATI) – consensus EPS $0.03
Altria Group, Inc. (NYSE: MO) – consensus EPS $0.47
AMB Property Corporation (NYSE: AMB) – consensus EPS $0.33
Arkansas Best Corp. (NASDAQ: ABFS) – consensus loss $0.36
ATMI (NASDAQ: ATMI) – consensus EPS $0.09
Community Trust (NASDAQ: CTBI) – consensus EPS $0.44
Cullen/Frost Bankers (NYSE: CFR) – consensus EPS $0.77
Dice Holdings, Inc (NYSE: DHX) – consensus EPS $0.02
Elan Corporation, Plc. (NYSE: ELN) – consensus loss $0.13
First Midwest Bancorp (NASDAQ: FMBI) – consensus EPS $0.03
FLIR Systems, Inc. (NASDAQ: FLIR) – consensus EPS $0.35
Freeport-McMoRan Copper & Gold (NYSE: FCX) – consensus EPS $1.35
Hudson City Bancorp (NASDAQ: HCBK) – consensus EPS $0.26
KeyCorp (NYSE: KEY) – consensus loss $0.41
Is a Bad Bank a Good Thing?
Stocks rallied strongly yesterday on the buzz that the Obama administration would soon announce a “bad bank” structure as the latest effort to put an end to the banking and credit crisis. Financial stocks soared with many bank stocks blasting higher by 30% or more and the major indices cut through their respective 10-day moving averages like a hot knife through butter. The action pushed the Dow to a gain of +2.46% while the rest of the major indices all enjoyed gains of +3.4% or more.
If you will recall, the original idea of the TARP was to buy up the toxic assets from banks so as to get them off bank balance sheets. The thinking was that banks would undoubtedly start lending money again if they didn’t have to worry about plunging values and illiquid assets. So, the plan was to get ...
UPGRADES:
JP Morgan upgrades Altria (NYSE: MO) from Neutral to Overweight, naming it a top pick, citing an expected 25% cash return on market cap by 2010 and the company's lead in the U.S. market.
Goldman Sachs upgrades Grainger (NYSE: GWW) from Sell to Buy.
Piper Jaffray upgrades Best ...
Surprisingly Resilient
Stocks were surprisingly strong again on Friday and resilient would seem to be the best adjective to describe the action. Make no mistake about it; things definitely didn’t start off well and then the news at the end of the day wasn’t exactly positive either. But through the politicking, the bad news, and the admission of fraud, stocks hung in there – which, of course, is a good thing.
The session definitely got started off on the wrong foot after the Senate decided that bickering and finger pointing was much more important than keeping a couple million U.S. citizens employed through the holiday season. And as the futures had projected, stocks opened down more than 200 points.
However, the mood quickly improved when the headline crossed the wires that the White House had done an about-face and said they would consider dipping into the TARP if they had to ...
StreetInsider.com Notable Analyst Rating Changes:
UPGRADES:
Goldman Sachs upgrades General Dynamics Corp. (NYSE: GD) from Neutral to Buy, maintaing its $95 price target.
Piper Jaffray upgrades NASDAQ (NASDAQ: NDAQ) from Neutral to Buy with a $43 price target. The firm also ...
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Notable Analyst Rating Changes 4/16: TSL, MOV, DIOD Upgraded; STT, MO, SLM Downgraded
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Notable Analyst Rating Changes 4/1: UBS, VMW, BWLD, AKAM Upgraded; PEP, MO, DELL Downgraded
