This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Market Preview: Wall Street Stampede

Credit Suisse, which has a neutral rating on the stock, lowered its fiscal 2012 estimate to a profit of $3.10 a share from $3.40 a share and cut its price target to $51 from $56 on Thursday. The firm thinks both investors and the company should be wary.

"It is in their best interests to take a cautious approach, reassess its growth algorithm, and accelerate restructuring programs to generate cost savings," Credit Suisse said. "We are concerned that weak volume trends and negative operating leverage will spill over into 2012. While management said that volume improved in January, the monthly data tends to be choppy, and not necessarily indicative of a rebound."

Check out TheStreet's quote page for Treehouse Foods for year-to-date share performance, analyst ratings, earnings estimates and much more.

Another event to be aware of involves Micron Technology (MU), which is holding an analysts conference on Friday. The get-together is sure to be somber, coming so soon after the tragic death of CEO Steve Appleton on Feb. 3. The Boise, Idaho-based chip maker and CEO Mark Durcan will provide an update on Micron's strategy and its view of current market conditions.

Micron shares are down more than 25% in the past year, but the stock has been a hot property since the calendar turned, rising 30% to close Thursday at $8.16. Credit Suisse previewed the meeting on Thursday, saying it expects to hear about pricing for both NAND flash and DRAM memory products as well as the prospects for Micron's solid-state-drive business.

The firm has an outperform rating and a $12 price target on the stock and thinks the shares are still attractive from a valuation standpoint despite the recent run-up.

"MU is trading at just 0.98x book value - noting that the stock has traded at 1.3x P/B or higher in each of the last 10 calendar years implies at least 35% upside and a share price of $11," Credit Suisse wrote. "Further, we see the potential for a revaluation which would drive shares into the mid-teens as the company starts to generate cash and uses excess cash to buyback stock/debt."

The economic calendar on Friday features trade balance data for December at 8:30 a.m. ET, the initial University of Michigan consumer sentiment gauge for February at 9:55 a.m. ET, and the Treasury Department's budget report for January at 2 p.m. ET.

The consensus view is for consumer sentiment to tick lower to 74 from 75 in January, but Ian Shepherdson, chief U.S. economist at High Frequency Economics, is more optimistic, forecasting the headline number at 77, because of the improving employment picture.

"After five straight gains, which have reversed most of the decline triggered last year by the spike in gasoline prices, the Japanese earthquake and the debt ceiling fiasco, we see scope for a modest correction in the expectations component," he wrote. "But the current conditions component tends to be driven mostly by shifts in jobless claims ... and the decline in layoffs in recent months suggests the index has some way further to rise."

And finally, Nuance Communications (NUAN) and LinkedIn (LNKD) will be in the spotlight tomorrow after their respective quarterly reports.

Shares of Nuance were falling in the after-hours session after the voice technology company missed on both the top and bottom lines in its latest quarter, partly because of longer negotiation cycles with mobile companies.

Business social networker LinkedIn, on the other hand, got a boost after its quarterly earnings of 12 cents a share topped the consensus view of 7 cents a share by more than 70%.

--Written by Michael Baron in New York.



>To contact the writer of this article, click here: Michael Baron.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
4 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,113.54 +61.81 0.36%
S&P 500 1,983.53 +9.90 0.50%
NASDAQ 4,456.0160 +31.3120 0.71%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs