X meetings w/management in California 6/19-6/20 sponsor JPMS

Instant messaging may spur growth in Yahoo, Google deal-WSJ

One thing instant messaging does is to direct users to different Internet portals. It’s not considered a big source of revenue. Google (GOOG) in its new partnership with Yahoo (YHOO), wants to use Yahoo’s popular Messenger as the driver and to also help its own, less successful, Google Talk service, reports the Wall Street Journal. The end game is ads targeted to how users access IM services.

Solar: Encourage profit taking in SPWR & FSLR@FBRC

Following the Intersolar-2008 trade show, Friedman Billings said there is a “false sense of optimism” that emerging geographies, such as Italy, combined with better pricing power that “upstream” players are arguing for, will keep the industry in good shape and limit downside to Street estimates. The firm is incrementally more negative following the show given: there is no cancellation policy; material costs are not declining fast enough; German demand could actually disappoint; and financiers in Spain are more open to TF; which is a negative for SPWR.

GNK target raised to $105 from $100, maintain Buy@JEFF
Jefferies raised their estimates and target following the company’s acquisition of six dry bulk newbuilding vessels.

Asian Markets Wrap-Up for Tuesday, June 17

Stocks rose slightly in a majority of countries, led by mining companies and utilities. JAPAN: The Nikkei 225 was largely unchanged, inching down 0.04% to 14,348.37. However, the broader Topix Index inched up 0.02% to 1,401.98. Utilities rallied on lower oil prices, while steel companies dropped. Chugoku Electric added 2.8%, while Tokyo Electric increased 1% and Okinawa Electric Power (OKEPF) surged 3.2%. Mitsubishi UFJ lowered its rating on Aichi Steel, and the stock fell 3.9%. Kobe Steel (KBSTY) sank 2.7%. CHINA: Shares fell, as investors worried that the government’s anti-inflation measures would hurt companies’ results. The CSI 300 Index sank 3.7%, to 2,842.68. A number of financial stocks declined, with Citic Securities dropping 7% and Industrial Bank falling 6.3%. Spirits maker Wuliangye Yibin Co. lost 4%, while another spirits maker, Kweichow Moutai, sank 1.7%. AROUND ASIA: Hong Kong’s Hang Seng Index inched up 0.12%, while Taiwan’s Taiex added 0.39% and Australia’s S&P/ASX 200 rose 0.95%…. Hong Kong’s unemployment rate stayed steady at just 3.3% for the three months ended May 31.

SU coverage resumed with an Outperform, target $80@RBCM

CME upgraded to Buy from Hold@SBSH
Citigroup upgraded shares as they find the risk/reward attractive with volumes picking up and consensus estimates at more rational levels. The firm maintains a $485 target. :

WLL initiated with an Outperform@WCHV
Wachovia initiated WLL citing the company’s significant Bakken exposure.
This name must be added to the Shale play list.

RRC and MarkWest Energy-MWE announce Marcellus Shale agreement
Range Resources Corporation and MarkWest Energy Partners, L.P. announced their agreement for MarkWest to construct and operate gas gathering pipelines and processing facilities associated with Range’s Marcellus Shale acreage in the Appalachian Basin. MarkWest expects to invest approximately $50 million in 2008 and anticipates investing up to an additional $125 million in 2009 based on projects currently being developed.

Jim Cramer’s “Mad Money”

- Cramer once again turned his attention to the country of Chile for what he called a “triple play” of growth potential. He re-recommended mining giant Sociedad Quimica (SQM) as one of his favorite Chilean stocks. SQM has three things going for it. First, the company operates in the red hot Latin American economy, which has been growing steadily. Second, SQM has a large agricultural component, a market that Cramer is a long-time supporter of. Third, SQM is the world’s largest producer of lithium, a resource which it hopes to increase by as much as 40% by the end of 2008. “This is the perfect company to supply plug-in cars,” said Cramer, noting the continued growth of Lithium-Ion batteries as the battery of choice for autos and another industries. Despite these strengths, Cramer said SQM is unloved on Wall Street, with little U.S.-based research on it. Cramer, though, thinks SQM as a buy, buy, buy. I am a big Cramer fan and have learned alot from him and his books, some people complain about his suggestions but those people have to understand that there are many out there that gameplan against him and his picks.

U.S. equity futures continue to be higher; Producer Price Index released

U.S. equity futures are higher as crude oil continues its retreat. Investors received a couple of economic reports as the Producer Price Index was released.