Campbell Soup to Sell to Russian Markets via by Coca-Cola HellenicCampbell Soup ( CPB) and Coca-Cola Hellenic Bottling ( CCH) have entered into a long-term deal to distribute Campbell's soups in Russia. Campbell's will be responsible for consumer and market research, branding, marketing, product development and production, while Coca-Cola Hellenic Bottling will handle the distribution, sales and in-store marketing of the soup products.
Monster Worldwide Downgraded by WachoviaOnline employment giant Monster Worldwide ( MWW) was downgraded by Wachovia Capital Markets analysts Tuesday, citing slowness in recruitment advertising and pricing pressure from other job-hunting services. Wachovia downgraded Monster to "underperform" from a previous rating of "market perform," and said that it doesn't expect a recovery in job recruitment ad spending until 2011.
Wachovia analysts also said it expects more cost cuts in the job hunting industry, which could cause further price pressures on services like Monster's. Monster shares fell 25 cents or 2% in morning trading Tuesday.
Shares of Monster are nearly 50% off 52-week highs of $24 a share. The stock has technical support in the $8 to $9 price area. If the stock can rebound off of today's downgrade, we see overhead resistance around the $12 to $15 price levels. We do not currently rate this non-dividend paying at this time, but we do follow the company closely.
First Solar Downgraded by Friedman Billings RamseySolar-energy company First Solar ( FSLR) was downgraded this morning by investment firm Friedman Billings Ramsey ( FBR) to "underperform" from a previous rating of "neutral." The investment firm cited stronger demand for less-expensive solar devices. FBR maintained price target of $110 for the stock. First Solar shares fell $8.28 or 4.4%, in morning trading Tuesday. Shares of First Solar are off of 52-week highs of $290 a share. The stock has technical support in the $162 to $177 price area. If the shares can rebound off of today's downgrade, we see overhead resistance around the $200 to $202 price levels. We do not currently rate this non-dividend paying stock, but we do follow the company closely as it is a momentum trader's favorite.
Apple's Price Target Raised to $180 by Morgan StanleyMorgan Stanley ( MS) analyst Kathryn Huberty has raised her rating on Apple ( AAPL) to overweight from equal weight and raised her price target for the stock to $180, from $105. Huberty said that strong iPhone sales and higher mobile market share should add strength to the stock.
The iPhone is feeding earnings growth that the market is missing," said Huberty in a research note, noting that she believes Apple is becoming "the clear leader in the battle over the mobile Internet." Huberty said that the expected price cut coming in the fall for Apple's iPhone should spur demand for the unit, which has quickly grown from an expensive, niche-based mobile device to a clear leader in the mobile phone industry. Apple shares rose $4.58 or 3.7% in Tuesday morning trading following the upgrade. Shares of Apple are off the 52-week high levels of $190 per share. The stock has technical support in the $111 to $120 price area. If the shares can build on today's upgrade, we see overhead resistance around the $132 to $140 price levels. We do not currently rate this non-dividend paying stock, but we do follow it very closely. Be sure to visit our complete recommended list of the Best Dividend Stocks as well as a detailed explanation of our ratings system.