Anadarko Petroleum (APC) today had its estimates inrased by UBS (UBS) due to an increase in guidance and a strong quarter. A $105 price target was set with a buy rating.
Analyst Moves: HUM, STX
Humana (HUM) had its estimates cut and price target reduce by Credit Suisse due to lower guidance. A $94 price target was issued with an outperform rating.
IPO Watch: Eloqua, LegalZoom
Eloqua, a provider of on-demand revenue performance management software, plans to sell 7 million shares and selling shareholders plan to sell 1 million shares. The company plans to have about 32 million shares outstanding once the offering is complete.
Tuesday 7/31 Insider Buying Report: TDY, CNO
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.
Tuesday Sector Laggards: Department Stores, Textiles
In trading on Tuesday, department stores shares were relative laggards, down on the day by about 2%. Helping drag down the group were shares of Cafepress (PRSS), off about 41.8% and shares of Target (TGT) down about 2.1% on the day.
UBS Announces Earnings
UBS (UBS) announced that profits in the second quarter fell by 58 percent to 425 million francs, or $434.16 million, mostly due to losses incurred in the Facebook (FB) IPO, as well as a decline in investment banking business. A year ago, the company earned 1.02 billion francs, or $1.2 billion.
Analyst Moves: CIEN, GET
Ciena (CIEN) was upgraded at Jefferies (JEF) from underperform to hold to Hold with a price target of $14.50, as the firm expects a strong July quarter. Shares are higher by about one percent.
GDP Goes from Tragedy to Farce: Demos’ Daly
The Daily Ticker’s Aaron Task interviews Demos’ Lew Daly
Monday 7/30 Insider Buying Report: AIR, TCB
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.
Chicago Bridge & Iron to Acquire Shaw Group
Chicago Bridge & Iron Co. (NYSE: CBI) has come to an agreement with the Shaw Group Inc. to acquire it for $3.04 billion in cash and stock. This move comes as Chicago Bridge & Iron wishes to expand its portfolio across the entire energy industry by adding Shaw’s expertise in power generation. Shaw Group stock holders will receive $46 a share, which is a 72% premium over Friday’s closing price. The deal will be financed by cash on hand at both companies in addition to a debt of approximately $1.9 billion.The deal is expected to be completed by the beginning of 2013. Chicago Bridge & Iron will operate its new acquisition under the name CB&I Shaw. For more on this story and analysis of the business world follow us on twitter @FNNOnline.
