Barron’s writes that efforts by Clear Channel (CCU) to complete its IPO may not be successful as some of its institutional holders dig in for a better price.
Textron’s (TXT) stock has doubled over five years to $90. Its position in field like helicopters and small jets may allow the stock to double again over the next five.
Saks (SKS) now trades at $19.40. Its plan to return to 8% operating margins over the next three years could help the stock move into the mid-$20s.
Ryder Systems (R), the truck leasing company, trades at $48, or about 10 times 2008 estimates. Earnings forecasts are conservative, and it the company beats them, the stock could move to $60.
ST Microelectronics (STM) is one of the world’s top five semiconductor companies. But, it has an earnings multiple that is double that of rival Texas Instruments (TXN). And, its cost controls can only push margins up so far.
At least one analyst is questioning the Cisco (CSCO) purchase of Webex (WEBX). The question is whether Cisco can really be a successful on-demand software provider. However, there may be counterbids from IBM (IBM), Oracle (ORCL), of SAP (SAP).
The Neuberger Partners Fund likes shares that it thinks are beaten down. Its top holdings are Terex (TEX), D.R. Horton (DHI), NVR (NVR), KB Homes (KBH), Berkshire Hathaway (BRK-B), Goldman Sachs (GS), Joy Global (JOYG), American International (AIG), Centex (CTX) and UnitedHealth Group (UNH).
The AIM Energy fund thinks that gas and oil markets will tighten up in 2008 and 2009 as the market has "underestimated demand and overestimated supply". The fund’s picks are Bill Barrett (BBG), Southwestern Energy (SWN), Exxon (XOM), Petroleo Brasileiro (PBR), National Oilwell Varco (NOV), Grand Prideco (GPR), Schlumberger (SLB), Cheniere Energy (LNG), NRG Energy (NRG), and Chicago Bridge and Iron (CBI).
Weyerhauser (WY) insiders are unloading big holdings. Over the last 30 days, 18 executives have sold 787,000 shares.
Douglas A. McIntyre
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