Submitted by Optiondragon
I Turn My Camera On- Spoon
Periodicals Wrap-Up for Friday, May 9th
WALL STREET JOURNAL: Harris Corp (HRS), concerned about its future growth, may see limited opportunity and may consider selling itself, the Wall Street Journal reported. If it does decide to sell, suitors could include Raytheon (RTN), BAE Systems (BAESY) and Northrop Grumman (NOC)…The Wall Street Journal reported that, in an attempt to toughen its regulation standards, SEC chairman Christopher Cox said earlier this week the agency would push Wall Street investment houses will have to reduce borrowing and rely less on short-term financing…FINANCIAL TIMES: As part of plans to reduce costs and restore profit growth, people close to the situation said that Citigroup (C) is likely to today identify up to $400B in non-core assets that could be sold. Additionally, the Financial Times reported that Citigroup CEO Vikram Pandit will confirm his pledge to cut the bank's cost base by about 20% at a meeting with analysts today. Sources familiar with the matter believe Pandit will dismiss calls for a break-up of the company…NEW YORK POST: According to sources, the New York Post reported that the ax may fall as early as next week on some investment bankers at Bear Stearns (BSC)…
PCLN reports Q1 EPS 76c vs. consensus of 60c
PCLN reports Q1 revenue of $403.2M vs. consensus of $377.2M. Expects Q2 EPS $1.25-$1.40 vs. consensus of $1.30. Sees FY08 EPS $5.25-$5.65 vs. consensus of $5.12.
PCLN target raised to $155 from $125, reiterate Buy@BOFA
Banc of America raised their estimates and target after the company's beat and raise quarter and continues to believe PCLN should continue to outperform as it penetrates the growing international online travel market and captures domestic share.
PCLN target raised to $161 from $137, maintain Hold@SBSH
Citigroup raised their target following the March quarter upside but maintains a Hold rating waiting for a better entry point.
PCLN target raised to $175 after strong Q1 results@PIPR
PCLN remains Piper's Top eCommerce Pick.
TBSI reports Q1 EPS $1.62 vs. consensus of $1.19
Reports Q1 revenue $131.57M vs. consensus $84.18M
CNQ reports Q1 EPS $1.35 vs. consensus of $1.18
Reports Q1 revenue $3.96B vs. consensus of $2.46B.
AIG reports Q1 EPS ($1.41) vs. consensus of (76c)
AIG also announced a plan to raise approximately $12.5B in capital to fortify its balance sheet and provide increased financial flexibility. (Q1 EPS includes a pre-tax charge of approximately $9.11B for a net unrealized market valuation loss related to the AIG Financial Products Corp. super senior credit default swap portfolio
LEAP reports Q1 EPS (27c) vs. consensus of (2c)
Reports Q1 revenue $468.4m vs. consensus $459.49M
ATW reports Q2 EPS $1.30 vs. consensus of $1.15
Reports Q2 revenue $113.53M vs. consensus of $109M.
OII: solid growth story and attractive valuation - Barron's Online
Oceaneering Int'l (OII) should benefit from the rise of underwater oil and natural-gas exploration. It has carved itself a rather lucrative niche. OII is the leading provider of remotely operated vehicles (ROVs) to support underwater drilling activity. OII also supplies "umbilicals," tubular structures that let floating drilling rigs supply power, communications, chemicals and other support needed at the well sites on the seafloor.