(Source: Business Wire)
Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Carmike Cinemas (NASDAQ: CKEC), Cinemark Holdings (NYSE: CNK), Regal Entertainment Group (NYSE: RGC), General Growth Properties, Inc. (NYSE: GGP) and Research In Motion, Ltd. (NASDAQ: RIMM).
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Here are highlights from Tuesday's Analyst Blog:
Carmike Cinemas Upgraded to Hold
We have upgraded our rating on shares of Carmike Cinemas (NASDAQ: CKEC) from Sell to Hold, following the company's release of 4th quarter results. Although the outlook remains challenging, the 4th quarter results contained encouraging signs, as several operating metrics either improved or stabilized, while Carmike continued to pay down debt.
Unlike larger industry peers such as Cinemark Holdings (NYSE: CNK) and Regal Entertainment Group (NYSE: RGC), Carmike focuses its operations in small- to mid-sized non-urban markets.
GGP Continues to Rework Debt
Yesterday, General Growth Properties, Inc. (NYSE: GGP) announced that it had extended the expiration date to receive consent solicitation from bondholders until March 20th. The origination solicitation expired on Monday, March 16th. GGP is seeking solicitation consent from bondholders on $2.25 billion of notes. GGP is asking bondholders to extend the maturity on bonds due in March and April.
In addition, the company is asking bondholders on these notes and 3 other issues to forgo interest payments through the end of this year. Interest will be accrued and added to principle. The company needs approval of 90% of holders of the 2009 bonds and 75% approval from the 3 other issues.
RIMM a Buy, Pre-Earnings
We maintain our Buy recommendation with a reduced valuation target for Research In Motion, Ltd. (NASDAQ: RIMM), the manufacturer of BlackBerry smart-phone devices, ahead of 4th quarter fiscal 2009 financial reporting.
Recently, management indicated that the company's 4th quarter gross margin will decrease to approximately 40%, but revenue is expected to maintain sequential growth as newly launched high-end handsets experience significant market traction. We expect the smartphone device market to gain momentum should economic conditions improve and as demand for portable mobile access remains firm on a global basis.
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