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May 24, 2012
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| 23:50 EDT |  | BBY |
| theflyonthewall.com: | Jim Cramer's "Mad Money" | | According to Jim Cramer, markets appear rigged, and the only losers appear to be the shareholders. Cramer questions....Was the Facebook (FB) IPO fair? With news that Morgan Stanley (MS) may have alerted some of its biggest customers about slowing growth at the company, it appears not. Were investors at J.P. Morgan Chase (JPM) misled by CEO Jamie Dimon, who repeatedly said things were going great even though the company was in the process of losing $5B? It appears so, Cramer says. Cramer said it gets even worse: Both Morgan Stanley and J.P. Morgan will use shareholder money to investigate and defend themselves against any wrongdoing -- and to pay the fines, too. Cramer said companies get away with stunts like this because the system is broken and Washington isn't doing anything to fix it. Cramer said the bad apples on Wall Street must pay for their actions, and that will only happen if the government starts targeting them directly. Next, Cramer wasn't done with suggestions for J.C. Penney (JCP) CEO Ron Johnson on how to revive the ailing retailer. After comparing J.C. Penney's turnaround attempt to that of Pier 1 Imports (PIR) on Monday, Cramer then compared Penney to the turnaround in Chico's FAS (CHS). Chico's reshuffled its merchandise and took the rare step of raising prices in order to attract its core, older customers while shunning a younger demographic. This strategy worked. Chico's reported a 21% pop in yoy revenue with a 9.6% increase in same store sales. Cramer concluded. J.C. Penney needs to stop pandering to Wall Street and get to work on the almost impossible task of a retail turnaround. Investors need to play defense with their portfolios, Cramer told viewers. That means high-quality domestic companies with no exposure to the trials and tribulations of Europe and a juicy dividend yield. B&G Foods (BGS) is one such company. It has the unique talent of being able to reinvigorate brands. In an environment where commodity costs are falling, Cramer said that B&G, with its excellent balance sheet and great gross margins, is in a terrific position to surprise Wall Street. Shares trade at just 15x earnings and the company has a 12% long-term growth rate. SELL BLOCK: Cramer highlighted several stocks that investors need to avoid at all costs. Best Buy (BBY) has a broken business model. First Solar (FSLR) government subsidies are drying up quick. Cramer also put three stocks in the penalty box, saying investors need to wait at least one quarter before pulling the trigger. He said Mako Surgical (MAKO) stumbled in its last quarter, so he needs to see whether bigger problems exist. The same applies to Deckers Outdoor (DECK) where the company's Ugg boots may or may not be making a comeback. Finally, Cramer thinks Fossil (FOSL), which is levered to Europe, is another wait-and-see situation. In a special interview, Cramer sat down with CNBC colleague David Faber to discuss Faber's latest documentary on J. Crew (JCG) CEO Millard Drexler, which debuts Thursday evening. Faber said Drexler, while unknown to many, is one of the greatest retailers of our generation. He said Drexler's work turning around Gap (GPS) would have been noteworthy enough, but Drexler has continued to innovate and succeed in the cut-throat retail world. LIGHTNING ROUND: (Bullish) V; KOG ; EA. (Bearish) GLW; FB; TVIX; GME; C. Reference Link :theflyonthewall.com |
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| 13:02 EDT | | BBY |
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May 23, 2012
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| 11:19 EDT | | HON |
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| 07:16 EDT |  | BBY |
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| 06:15 EDT | | BBY |
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May 22, 2012
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| 21:59 EDT | | BBY |
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| 12:22 EDT |  | BBY |
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| 10:38 EDT |  | BBY |
| theflyonthewall.com: | Best Buy turns down after hitting its 10-day MA, support is at $17.84 | | :theflyonthewall.com |
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| 09:57 EDT | | BBY |
| theflyonthewall.com: | Best Buy says will continue to buy back shares this year | | Says will revisit dividend as it puts strategy in place. :theflyonthewall.com |
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| 09:41 EDT |  | BBY |
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| 09:30 EDT | | BBY |
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| 09:23 EDT | | BBY |
| theflyonthewall.com: | Best Buy sees improved results from international segment for balance of year |
 Subscribe for More Information :theflyonthewall.com |
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| 09:18 EDT | | BBY |
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| 09:14 EDT | | BBY |
| theflyonthewall.com: | Best Buy interim CEO Mikan says no "sacred cows" in turnaround efforts | | Interim CEO Mikan says company needs "world class" e-commerce capability. Says company "not "even close to good enough". :theflyonthewall.com |
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| 09:11 EDT | | BBY |
| theflyonthewall.com: | Best Buy's Mikan says company "not in any danger of going out of business" | | Says company is in a turnaround. Says company was not prepared for onslaught of online sales growth, not performing up to past standards. :theflyonthewall.com |
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| 09:09 EDT | | BBY |
| theflyonthewall.com: | Best Buy interim CEO Mikan says company a "highly undervalued asset" | | Comment made on the Q1 earnings conference call. :theflyonthewall.com |
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| 07:41 EDT |  | BBY |
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| 07:38 EDT | | BBY |
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| 07:37 EDT | | BBY |
| theflyonthewall.com: | Best Buy sees FY13 pre-tax restructuring charges $300M-$350M | | The company's estimates for pre-tax restructuring charges in fiscal 2013 related to its strategic imperatives outlined on March 29, is a range of $300M-$350M, including store closures, severance, asset impairments and other costs. :theflyonthewall.com |
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| 07:36 EDT | | BBY |
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| 07:34 EDT | | BBY |
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| 07:33 EDT | | BBY |
| theflyonthewall.com: | Best Buy reports Q1 adjusted EPS 72c vs. 65c in Q1 of 2011 | | Reports Q1 revenue $11.61B vs. $11.37M in Q1 of 2011 :theflyonthewall.com |
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| 06:55 EDT | | BBY |
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| 06:48 EDT | | BBY |
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May 21, 2012
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| 15:23 EDT | | BBY |
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| 15:15 EDT | | BBY |
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| 10:34 EDT |  | BBY |
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| 09:44 EDT | | BBY |
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| 09:17 EDT | | BBY |
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| 07:31 EDT |  | HON |
| theflyonthewall.com: | Electrical Products Group hosts a conference | | 2012 Electrical Products Group Annual Spring Conference is being held in Longboat Key, Florida on May 20-23 with webcasted company presentations to begin on May 21 at 7:30 am; not all company presentations may be webcasted. Webcast Link :theflyonthewall.com |
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| 06:48 EDT | | BBY |
| theflyonthewall.com: | Best Buy option implied volatility elevated | | Best Buy option implied volatility is near the top of its 52-week range according to iVolatility. :theflyonthewall.com |
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| 05:59 EDT | | BBY |
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May 20, 2012
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| 10:05 EDT | | HON |
| theflyonthewall.com: | Cambiar Opportunity Fund is waiting on the turn in energy stocks, Barron's says |
Subscribe for More Information :theflyonthewall.com |
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| 09:40 EDT | | BBY |
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May 18, 2012
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| 06:57 EDT | | BBY |
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May 16, 2012
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| 07:43 EDT | | HON |
| theflyonthewall.com: | Oppenheimer to host a conference | | 7th Annual Industrials Conference is being held in New York on May 15-16 with webcasted company presentations to begin on May 16 at 8 am; not all company presentations may be webcasted. Webcast Link :theflyonthewall.com |
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May 14, 2012
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| 12:18 EDT | | BBY |
| theflyonthewall.com: | On The Fly: Midday Wrap | | Stocks on Wall Street were lower at midday, as investors worried about Europe and China. Stocks began the day sharply lower on the heels of a sell off in the European markets. The weakness overseas was attributed to concern over Greece’s inability to form a coalition government, putting its continued participation in the euro zone in greater doubt. The weakness spread to the U.S., where the financial sector remains in turmoil following JP Morgan’s (JPM) trading loss. The market opened lower but the selling intensified before finding a level where it began to recapture some of its losses. The market has essentially drifted off its lows to cut its losses in half... ECONOMIC EVENTS: In the U.S., there was little on the economic calendar to distract investors from worries about Europe and China. In Europe, the yields on 10-year Greek, Spanish and Italian bonds all climbed while German bond yields declined to historically low levels as fear continues to mount about the potential exit of Greece from the euro currency. Stock markets across Europe plunged as well. In China, the central bank took action over the weekend to stimulate slowing growth, as it announced plans to cut its bank reserve requirement by 0.5 percentage points the day after economic readings showed inflation, industrial production growth, spending and lending had all slowed... COMPANY NEWS: Yahoo! (YHOO) shares gained almost 3% after its CEO Scott Thompson relented to pressure and stepped down following a firestorm over a computer science degree he never received. The company also reached a deal with activist shareholder Dan Loeb of Third Point, who had initially disclosed Thompson's resume problems, as the company agreed to allow Loeb and two other Third Point nominees to join its board... Another recently embattled company, Chesapeake Energy (CHK), jumped 7% after the company said it had arranged for a $3B unsecured loan to aid its financial flexibility as it continues to sell off assets. Also, the Wall Street Journal reported that activist investor Carl Icahn will likely reveal he once again has increased his stake in Chesapeake, and the company said on its call to discuss its financing that it "wouldn't be surprised" if Icahn becomes a large shareholder... JPMorgan Chase (JPM) continues to deal with the fallout of its $2B trading loss, as the bank announced that its Chief Investment Officer Ina Drew will retire, to be replaced by Matt Zames, and the bank's stock fell another 2%... Best Buy (BBY) Chairman Richard Schulze will step down when his term ends after the company's investigation into its former CEO Brian Dunn found that Dunn violated policy by engaging in an inappropriate personal relationship with a female employee and Schulze failed to bring the matter to the board's audit committee when he first learned of the allegations... MAJOR MOVERS: Among the notable gainers were Golfsmith (GOLF), up 28%, after agreeing to be acquired by Canada's Golf Town for $6.10 per share in cash, and Citizens South Banking (CSBC), up 24%, following its announcement that it will merge with Park Sterling Corporation (PSTB). Also higher were shares of Avon (AVP), up more than 4%, after the company responded to the latest $24.75 per share buyout offer from Coty, but asked for another week to make a decision on the bid... Noteworthy losers included Ancestry.com (ACOM), down 13%, following NBC's decision not to renew the TV show "Who Do You Think You Are?", and InterOil (IOC), down 9%, after the company got notice from Papua New Guinea of the state's intention to cancel an LNG project agreement... INDICES: Near noon, the Dow was down 82.07, or 0.64%, to 12,738.53; the Nasdaq was down 16.01, or 0.55%, to 2,917.81; and the S&P 500 was down 9.14, or 0.68%, to 1,344.25. :theflyonthewall.com |
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| 09:22 EDT | | BBY |
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| 09:16 EDT | | BBY |
| theflyonthewall.com: | Best Buy publicly releases results of independent investigation into former CEO |
Subscribe for More Information :theflyonthewall.com |
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| 09:15 EDT | | BBY |
| theflyonthewall.com: | Best Buy elects Hatim Tyabji as Chairman | | The Board of Directors of Best Buy Co announced that on Saturday, May 12, 2012, it elected director Hatim Tyabji to succeed Richard Schulze as Chairman of the Company, effective at the conclusion of the annual meeting on June 21, 2012. Mr. Tyabji, currently Chairman of the Audit Committee, has served as a director since 1998. When Mr. Schulze steps down as Chairman, he will become Founder and Chairman Emeritus, an honorary position. Mr. Schulze will serve out the remainder of his term as director through June 2013. :theflyonthewall.com |
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May 11, 2012
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| 12:17 EDT | | HON |
| theflyonthewall.com: | Honeywell signs agreement on manufacturing facility for China C919 APUs | | Honeywell has signed a Memorandum of Understanding with AVIC Harbin Dongan Engine Co. Ltd. and the Shanghai Lingang Economic Development to pursue a joint venture that would perform the final assembly, test, repair and overhaul of auxiliary power units for the Commercial Aircraft Corporation of China C919 narrow-body aircraft. Under the terms of the agreement, after the equity joint venture is established, the facility would be set up in the Shanghai Lingang Industrial Zone south of the Shanghai Pudong International Airport. Honeywell was selected to provide fly-by-wire controls, the wheel and brake system, the APU, and the avionics navigation and air data system for the new platform, a contract valued at more than $11.3B over the program life. :theflyonthewall.com |
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| 10:23 EDT | | BBY |
| theflyonthewall.com: | On The Fly: Analyst Downgrade Summary | | Today's noteworthy downgrades include: Ardea Biosciences (RDEA) downgraded to Neutral from Buy at UBS... Best Buy (BBY) downgraded to Neutral from Outperform at Credit Suisse... GeoEye (GEOY) downgraded to Neutral from Outperform at Macquarie... JPMorgan (JPM) downgraded to Market Perform from Outperform at FBR Capital... JPMorgan downgraded to Hold from Buy at Stifel Nicolaus... Kemet (KEM) downgraded to Underperform from Buy at BofA/Merrill... PSS World Medical (PSSI) downgraded to Neutral from Outperform at RW Baird... Roundy's (RNDY) downgraded to Neutral from Outperform at RW Baird... AMC Networks (AMCX) downgraded to Hold from Buy at Gabelli. :theflyonthewall.com |
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| 09:09 EDT | | BBY |
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| 06:40 EDT | | BBY |
| theflyonthewall.com: | Best Buy downgraded to Neutral from Outperform at Credit Suisse | | Credit Suisse believes the Best Buy's board and management will be too distracted from the increasing non-operating stories surrounding its actions and in-actions. Price target lowered to $20 from $32. :theflyonthewall.com |
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