Alpha Natural Resources
"The market for high-quality met coals (low-vol, mid vol) is firming with increased global steel production and supply disruptions in Australia," Davenport analysts wrote in a May 4 report. "However, the market for lower quality met coal (high-vol B, some blends) remains stagnant with spreads vs. benchmark prices still quite wide due to oversupply. Alpha is exposed to the lower-quality coals with half of its remaining 4.5- 5.0MM tons of unpriced volume being lower-quality. Management indicated that pricing on its open volume would likely be well below the $146/t price it has locked in on its priced volume. Thus we see Alpha's exposure to improving high-quality met markets as being limited currently. Further, we think there is some risk that Alpha does not sell all of its uncommitted volume (1.0-1.5MM tons), which is mostly lower-quality met."Shares of Alpha Natural Resources hit a 52-week low on Tuesday of $13.40. The stock's 52-week high of $55.20 was set on June 1. Nineteen of the 29 analysts who cover Alpha Natural Resources a buy; 10 analysts rated the stock hold. The stock has fallen 34.12% year to date.
Cypress Semiconductor "We have stuck with a Buy on Cypress partially due to the fact that we believe this management team has earned the benefit of the doubt to recover during soft periods," Dougherty analysts wrote in an April 20 report. "Better-than-expected Q112 margins and Q212 guidance is yet another example of why. This is a management team that knows how to maximize profitability." Shares of Cypress Semiconductor hit a 52-week low of $13.10. The stock's 52-week low of $23.40 was set on May 31. Cypress Semiconductor's forward P/E is 10.65; the average for semiconductors is 20.7. For comparison, Cree (CREE) has a higher forward P/E of 22.67. Thirteen of the 19 analysts who cover Cypress Technology rated the stock buy. Four analysts gave the stock a hold rating and two rated it sell. The stock has fallen 20.72% year to date.