"We continue to believe that IBM cannot avoid deteriorating industry fundamentals this quarter, which extend to the enterprise and commercial markets," wrote analyst Kevin McCarthy. "As a result we believe there is downside to the Street's $26.75 billion revenue expectation for Q4; we currently estimate $25.75 billion."
reduced earnings estimates on a wide range of retailers.
were all affected by the change.
BJ's Wholesale Club
: UP to intermediate-term buy from accumulate at Merrill.
: UP to buy from accumulate at Merrill, price target $50, added to "Merrill Lynch Focus One" list.
General Growth Properties
: UP to strong buy from buy at
: UP to buy from hold at UBS Warburg.
Simon Property Group
: UP to strong buy from buy at UBS Warburg.
: DOWN to accumulate from strong buy at
: DOWN to hold from strong buy at Prudential.
: DOWN to intermediate-term neutral, long-term accumulate from intermediate-term accumulate, long-term buy at Merrill.
: DOWN to accumulate from buy at Merrill, price target $35.
: DOWN to hold from strong buy at
: DOWN to hold from accumulate at Prudential.
: NEW intermediate-term neutral. long-term accumulate at Merrill.P/>
: NEW buy at CSFB; price target: $32.
Bone Care International
: NEW strong buy at Prudential; price target: $35.
: NEW buy at UBS Warburg; price target: $35.
: NEW intermediate-term accumulate, long-term buy at Merrill; price target: $60.
: NEW buy at
Salomon Smith Barney
; price target: $65.
: NEW buy at UBS Warburg; price target: $28.
: NEW strong buy at Merrill; price target: $35.
Prudential Securities upped its ratings on a bunch of oil companies, citing attractive valuations. Here are the crude folks affected:
- British Petroleum (BP) - Get Report: accumulate from hold.
Conoco (COC.B) : strong buy from accumulate.
Phillips (P) : strong buy from hold.
Texaco (TX) - Get Report: strong buy from accumulate.
Royal Dutch (RD) : accumulate from hold.
ExxonMobil (XOM) - Get Report: accumulate from hold.
ING Barings initiated coverage on the airline industry:
- AirTran (AAI) NEW buy.
AmSurg (AMSGA) NEW strong buy.
Atlantic Coast Airlines (ACAI) NEW buy.
SkyWest Airlines (SKYW) - Get Report NEW strong buy.
Lehman Brothers initiated coverage on a half-dozen stocks in the personal care sector, all with neutral ratings. Here are the companies affected: