Tuesday, May 06, 2008

Crude futures top 120 USD for first time

NEW YORK, May 5 (Xinhua) -- Crude futures topped 120 U.S. dollars a barrel for the first time Monday on supply concerns.   

"Oil prices climbed to a record once again today amid concerns as to what the impact of the most recent geopolitical events are going to have on already tight supplies," Wall Street Strategies' senior research analyst Conley Turner told Xinhua. "It is usually the same cast of characters who appears to be taking turns at driving up prices in recent months."

Nigeria, never too far from the spotlight, also made its requisite contribution to the price increase when rebels there attacked an oil facility in the southern part of that country, said Turner. Also, the fact that Iran's Supreme Leader Ayatollah Ali Khamenei said that his country was not going to not bend to international pressure and give up its nuclear program served a catalyst for higher prices, added the analyst.     

"It is not unreasonable to assume that gas prices could climb higher over the next month. One way for consumers to mitigate the impact of the continued rise in oil and gas prices is to buy good quality oil stocks," he said.  "The era of higher energy prices is definitely here," added Turner.

Click on the link to read the full article: http://news.xinhuanet.com/english/2008-05/06/content_8111287.htm

Tuesday, May 06, 2008

Clinton Attacks Wall Street - NY Sun

"If America is still the land of milk and honey it's because the fertilizer comes from Wall Street," the chief executive of the research firm Wall Street Strategies, Charles Payne, said. "There is something wrong when it's okay to make $100 million for giving speeches, yet when you help to facilitate the growth of America, which in turn employs millions of people, you can be a villain if you are paid too well."

Read the article here: http://www2.nysun.com/pf.php?id=75851&v=9089700121

Thursday, May 01, 2008

Magna Reports - bnn.ca

Magna International has announced its first quarter 2008 results and David Silver, research analyst, Wall Street Strategies, joins BNN.ca to talk more about it.

Watch the video: http://watch.bnn.ca/the-street/may-2008/the-street-may-1-2008/#clip49959

Monday, April 28, 2008

GM bulls looking for a Ford-like surprise

SAN FRANCISCO (MarketWatch) -- General Motors Corp. investors have to be feeling pretty confident ahead of the automaker's quarterly results due Wednesday, considering the feverish bull rush that greeted the surprise profit from Ford Motor Co. earlier this week.

While most analysts following the Detroit giant's road to recovery don't envision a profit this quarter, Wall Street Strategies' David Silver actually modeled GM to eke out a gain of 2 cents a share. 

As his favorite pick in the industry, GM "has a larger international footprint, a larger share of emerging economies, and is further along on its restructuring initiatives," Silver said.  He added that he's looking for GM to benefit from "strong growth in China, India, and Russia ... but mainly for more cost savings in North America."

Click here on the link to read the full report http://www.marketwatch.com/news/story/gm-report-follow-fords-surprise/story.aspx?guid=%7B744A9528%2D3C42%2D4A84%2DB001%2D3B05C1F2C000%7D&siteid=yhoof

Wednesday, April 23, 2008

AmerisourceBergen Halts a Sale as Profit Gains 3.4% - Bloomberg.com

AmerisourceBergen Corp., the No. 3 U.S. drug distributor, canceled the sale of a unit and narrowed its annual profit forecast as quarterly earnings rose 3.4 percent on drug-price increases and sales of generic medicine.

'Increased Competition'

"The business has been struggling with increased competition and even some company-specific shortfalls,'' said Brian Sozzi, an analyst with Wall Street Strategies in New York. ``There's little confidence that they
can turn this thing around."

Sozzi today cut his rating on AmerisourceBergen to "sell" from "hold".

Distributors charge drug companies fees for shipping products to hospitals and clinics. AmerisourceBergen gained as prices on branded drugs in its inventories rose, and the company sold more generic drugs that it gets at low cost from competing suppliers, Sozzi said.

Wednesday, April 23, 2008

Crude prices approach 120 dollars on weak dollar, supply concerns, Chinaview

Wednesday, April 23, 2008

Ford preps report as industry struggles to sell cars

SAN FRANCISCO (MarketWatch), April 22 -- Ford Motor Co. will likely point to further strides in its wrenching overhaul when it posts first-quarter results Thursday, but the severe downturn in the U.S. car market and expectations for when that will change will also take center stage. '"We are going to see a lot of improvements in the company's cost structure, primarily in North America, but that will not have that material of an impact on the bottom line."— David Silver, Wall Street Strategies  

But despite the steady stream of losses and falling sales, Ford hasn't backed away from its goal of reaching profitability in 2009. Wall Street Strategies analyst David Silver is less optimistic for the maker of the Blue Oval brand, but he still predicted "a significant turning point for the company" at the end of 2008."

Click on the link to read the entire article: http://www.marketwatch.com/news/story/ford-report-results-new-car/story.aspx?guid=%7BF1008FDB%2D5332%2D44AF%2DA304%2DCA1AD87057CD%7D&dist=msr_6
 

Tuesday, April 15, 2008

Video: Google and Apple Priced to Move?

Charles Payne, a regular on Fox Business channel, thinks the two tech giants are oversold at current levels and are now buy-worthy.

Tickers: GOOG, AAPL
http://www.moneyshow.com/msc/investors/playerCust.asp?v=1452&scode=010805

Thursday, April 10, 2008

Fred's "sell," target price raised-Newsrating.com

Analyst Brian Sozzi of Wall Street Strategies reiterates his "sell" rating on Fred's Inc (FRED), while raising his estimates for the company. The target price has been raised from $7 to $9.

In a research note published yesterday, the analyst mentions that the company has reported its 4Q07 net sales and diluted EPS short of the consensus. Fred's expected its restructuring plan to boost its operating margins by 150bps and its free cash flow over the next three years, the analyst says. The company has raised its diluted EPS guidance for FY08 from $0.70 to $0.76. The EPS estimate for FY08 has been raised from $0.60 to $0.65.

Read the full story: http://www.newratings.com/main/company_headline.m?&id=1727296

Thursday, April 10, 2008

Crude futures surge on lower-than-expected U.S. inventories -China View

Crude futures set new record high Wednesday after the U.S. government reported lower-than-expected inventories.

  "Crude continued on its uptrend today and at one point touching a record 112.21 dollars per barrel," Wall Street Strategies' senior research analyst Conley Turner told Xinhua. 

 "The primary catalyst for the move up had to do with a report from the Energy Information Administration (EIA), which showed that crude oil supplies fell by 3.2 million barrels in the past week. This is in stark contrast to the consensus expectation for an actual increase of 2.4 million barrels." 

 "In general, oil prices continue to be elevated in large measure to the weakness of the U.S. dollar," said Turner.

Read the full story: http://news.xinhuanet.com/english/2008-04/10/content_7950035.htm

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