Month: October 2012

Thoratec (THOR) was upgraded by UBS (UBS) from neutral to buy with a price target of $39, as the share price is inexpensive given the position the company has in a growth market. Shares are higher by about 3.5 percent.

JAVELIN Mortgage Investment Corporation (JMI) announced plans to raise $150 million in its IPO and concurrent private placement. The company has priced its initial public offering of 7,250,000 shares of common stock at $20.00 per share, raising $145 million in gross proceeds.

Huntington Ingalls (HII) was downgraded by Morgan Stanley (MS) to underweight from equal weight with a $35 price target, as the company is facing margin headwindes, despite the fact that it has been outperforming its peers. Shares are lower by about 4.2 percent.

Showing relative strength in trading on Wednesday are agriculture & farm products shares, up on the day by about 4.1% as a group, led by S&W Seed Wts (SANWZ), trading up by about 21.7% and Ceres (CERE), trading up by about 5.7% on Wednesday. For MarketNewsVideo.

Optimism over Spain’s request for a bailout were wiped out by concerns over the slowdown of the global economy as the markets sank into negative territory this afternoon. Automakers posted monthly auto sales today, boosted by the sale of small cars.

Consolidated Edison (ED) was downgraded by Credit Suisse (CS) to underperform from neutral with a price target of $60 due to risks regarding the company’s upcoming rate increase, as well as the fact that the stock trades at a premium valuation. Shares are about even in afternoon trading.

Informatica (INFA) WAS downgraded BY Credit Suisse (CS) to underperform from neutral with a price target of $31 as it will be difficult for the company to achieve its 2013 earnings expectations. Shares are higher by about a tenth of a percent.

As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let’s look at two noteworthy recent insider buys.

In trading on Tuesday, shipping shares were relative leaders, up on the day by about 0.9%. Leading the group were shares of Excel Maritime Carriers (EXM), up about 4.6% and shares of Textainer Group Holdings Limited (TGH) up about 1.3% on the day.

Fertilizer producer Mosaic (MOS) announced that profits for the quarter fell by 18 percent, mainly due to price drops and reduced volumes of phosphate. The company earned $429.4 million, or $1.01 per share, versus $526 million, or $1.17 per share, in the same period last year.