Month: December 2012

Apple (AAPL) had its estimates and price target increased by Sterne Agee as lead times for the new iPhone are improving. An $840 price target was set with a buy rating.

IAC/InterActiveCorp (IACI) was downgraded by Goldman Sachs (GS) to sell with a price target of $42 due to increasing competition in the search business. Shares are lower by about 8.3 percent.

Francesca’s Holdings (FRAN) was upgraded by Jefferies (JEF) from hold to buy with a price target of $38, as the firm expects a strong holiday season for the company. Shares are higher by about 2.8 percent.

In trading on Tuesday, airlines shares were relative leaders, up on the day by about 1.4%. Leading the group were shares of Pacer International (PACR), up about 8.9% and shares of Copa Holdings SA (CPA) up about 3.5% on the day.

Toll Brothers (TOL) announced that it earned $411.4 million or $2.35 per share, in the fiscal fourth quarter, versus $15 million, or 9 cents per share, in the same period last year, mainly due to a $350.7 million tax benefit. Revenue was higher by 48 percent to $632.8 million, beating expectations of $565.1 million.

EU finance ministers fail to reach agreement on a new ECB-led system of banking supervision in Europe – more talks are now planned. Ivor Bennett reports

Stocks remained in negative territory for most of the day as investors worried about the looming fiscal cliff, even as House Republicans submitted a deal to the President. The GOP today unveiled a plan that reportedly includes tax and healthcare reforms, but keeping so called Bush tax cuts in place.

LDK Solar (LDK) announced that its loss for the quarter narroed to to $95.9 million, or $1.08 per diluted share, from $114.5 million, or 87 cents per share, during the samer period last year. Revenue fell by 38.2% versus the same period last year to $291.5 million.

Dell (DELL) was upgraded by Goldman Sachs (GS) to buy from sell with a price target of $13 as the company has built up a solid cash reserve. Shares are higher by about 4.7 percent.

International Game (IGT) was upgraded by Deutsche Bank (DB) to buy from hold with a price target of $19, as the firm believes that the worst trends are in the past. Shares are higher by about 3.4 percent.