Motorola shares are getting a boost from Bank of America/Merrill Lynch analyst Tai Liani, who this morning raised his rating on the stock to Buy from Neutral, setting a price target of $9, up from $7.
Has solar demand–and the slide in solar shares–finally hit bottom?
The solar analysts at Merrill Lynch think so. In a piece authored by analysts Lu Yeung, Vincent Chow, Matthew Yates and Steve Millunovich, Merrill this morning asserts that “improving second derivative trends” suggest the industry is headed for a cyclical bottom.
Akamai shares are trading lower this morning after Merrill Lynch analyst Garrett Bekker cut his rating on the stock to Neutral from Buy. Bekker writes in a research note this morning that he expects “competitive challenges and spending headwinds to persist in 2009,” offsetting growing contributions from premium services and international expansion. He says the stock’s valuation appears reasonable, but that there are “few catalysts on the horizon.”
The powers-that-be definitely do not reward every virtuous (according to Wall Street) corporate act, but there is the rare bit of recognition every now and then. Merrill Lynch analyst Raimo Lenschow upped his rating on enterprise software giant SAP on the basis of cost-cutting maneuvers the company has implemented. Wall Street loves a belt-tightening story.
It’s difficult to avoid the comparisons between the current sad state of financial affairs and the Great Depression. “This is not like 1987 or 1998 or 2001,” Merrill Lynch CEO John Thain said at a conference on Nov. 11.
Numbers aren’t really working out that well for Dell. One of Its rivals scored points today with impressive preliminary results, but–of more significance–there are ominous sounds coming from Intel’s direction regarding the rest of this year and the whole of next year. Cautionary pre-earnings notes took their toll this morning as well, and drove the numbers down.
Sun Microsystems announced plans on Friday to cut 5,000-6,000 jobs. It didn’t much help the company’s rep on Wall Street though–largely because the cuts can’t be blamed solely on the economy. Some analysts are encouraged by the announcement, others skeptical, given that headcount reductions were viewed as long needed and that Sun’s product strategy and use of operational expenses would benefit from some sharp wisdom.
Comments from Merrill Lynch analyst Justin Post this morning are affecting the outlook for videogame stocks. Post cites data that indicate a drop in consumer spending in November–and he states that even though Merrill’s overall thesis is that the videogame category will remain strong, pricing pressure and the reality of the unfolding economic downturn dictate a more cautious view.
Across the board, estimates for Research In Motion are coming down, with analysts citing factors such as a late launch for both the Bold and the Storm, increased competition from the iPhone, and weak consumer demand projected for calendar Q4. Overall, states UBS analyst Maynard Um, “We do not expect RIMM to be immune from the weakening economy.”
There are plenty of questions about the results Cisco will report on its earnings call tomorrow, and the guidance it’ll provide moving forward. The Street expects weakness on both counts. No prediction yet on what to expect if CEO John Chambers is Treasury Secretary by then.
There’s troubling brewing at eBay (EBAY).
In a research note late yesterday, Merrill Lynch Internet analyst Justin Post said checks with the Professional eBay Sellers Association indicate that eBay’s gross merchandise value growth in the U.S. “turned negative” in September.
Every cloud has a silver lining. Ask the cybersquatters. Even as the short-selling vultures began circling Lehman Brothers, HBOS, Merrill Lynch and company, a legion of entrepreneurs began betting on domain names for hastily merged financial institutions.
Merrill Lynch chip analyst Srini Pajjuri this morning cut his rating on Advanced Micro Devices (AMD) to Underperform from Neutral, while moving Analog Devices (ADI) in the other direction, to Neutral from Underperform.
What do CEOs say to each other in private? Mean Street intercepted an (imaginary) email sent this morning by Merrill Lynch CEO John Thain to Sanjay Jha, newly appointed co-CEO of Motorola.
Merrill Lynch telecom equipment analyst Vivek Arya cut his rating on Nortel today to Underperform from Neutral, and cut his price target to $7 from $8.50.
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