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Wednesday Nov 25, 2009

DrStockPick.com Stock Report!

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Chase Card Services, the credit card division of JPMorgan Chase & Co. [NYSE: JPM], today announces that Ultimate RewardsSM is offering a holiday program to deliver rich rewards, deep discounts and plentiful promotions to customers at a time when they need it most.

PowerSafe Technology Corporation (Other OTC: PSFT.PK), announced today that two Small Business Innovation Research (SBIR) projects submitted by its wholly owned subsidiary Amplification Technologies Inc. (www.ampti.net) (ATI) have been competitively selected by NASA.

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With U.S. employers cutting fewer jobs in April and banks' stress test results throwing up less-than-expected surprises, U.S. stocks advanced helping S&P 500 erase this year's losses and tech-heavy Nasdaq recorded its ninth straight weekly gain.  Reassuring signs emerging from the employment front indicated the economy is starting to find its footing as even a $75 billion deficit in capital failed to deter investors.  Stock buyers helped broad-based S&P 500 end the week 5.9% higher - the index is up 37% from a 12-year low hit on March 9. During the week, the Dow Jones Industrial Average added 362.24 points, or 4.4%, to 8,574.65. The Chicago Board Options Exchange Volatility Index, a measure of market volatility, declined 9.2% to 32.05. Volume on the NYSE was a heavy 1.9 billion as advancing issues outpacing declining stocks by a five-to-one margin. Among S&P sector groupings, financials were the leading gainers

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Asian markets rose for a fourth day amid a global rally in stocks as hopes that the worst of the economic crisis is over boosted demand for riskier assets.  Investors continued to look at the bright side of things, shrugging off a U.S. jobs report on Friday which showed unemployment rose to 8.5% in March.  Although the numbers were up from 8.1% in February, they were only slightly worse than expected.  Sunday's launch of a long-range missile by North Korea appeared to have little impact on the markets and was seen as having little economic implication.  Boosting the sentiment further were U.S. Federal Reserve Chairman Ben Bernanke's comments that policies to ease the financial crisis through infusion of billions of dollars in aid were beginning to work. 

Japan's Nikkei 225 stock average closed up 108.09 points, or 1.2%, to 8,857.93, while Hong Kong's Hang Seng jumped 452.35 points,

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div style="text-align: justify;"span style="font-weight: bold;"Friedman Billings Ramsey (FBR) /spanis out with some comments regarding the Solar sector noting the stocks rallied by an average of 20% yesterday (with China-based names, such as STP and TSL, up 40%-plus, compared to a 2% strengthening of the Samp;P 500) following the news from the Chinese government that it will provide RMB20/watt in incentives for (most likely) ground-mounted solar PV installations. What the press release did NOT provide is any color on how such incentives will be implemented or whether there is a cap.br /br /span style="font-weight: bold;"After extensive checks with contacts in China, it is now clear to them that: /span1) there is a cap of 180MW in CY09 (RMB20/watt, total incentives of RMB2.5B, of which 70% comes from the central government); 2) not even the people in the government (that they contacted) know the details, implying that the details would still need ...

January 30, 2009 ndash; Analyst Comments ndash; Cowenrsquo;s Robert Stone commented on SunPowerrsquo;s Q4 and FY08 earnings reports, as well as its outlook. Earlier this week, Cowen noted that he expected the company to beat the Street, but to revise guidance downward due to the current economic environment. SunPowerrsquo;s results came in showing revenuenbsp; of $401 million and GAAP net income of $0.35 per share, higher gross margins to 29.9% and a cut in revenue guidance to a range of $1.6 to $2 billion.

SunPowerrsquo;s Financial Highlights:

middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; 79% Y/Y increase in Q4 revenue of $401 million
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; 85% Y/Y increase in FY08 revenue of $1.43 billion
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; 506% Y/Y increase in Q4 GAAP net income of $29.5 million, or $0.35 per share fully diluted
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; 902% Y/Y increase in FY08 GAAP net income of $92.2 million, or $1.08 per share fully diluted
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; FY09 revenue guidance in a range of $1.6 to $2 billion
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; …

January 26, 2009 ndash; Suntech Power (NYSE:STP) has seen its stock decline to $8.87 on Fridayrsquo;s close from $11.80 at the outset of this yearrsquo;s trading session and from the $50 level this time last year. In the past couple months the stock has been seemingly downgraded by the world, which has been warranted in light of erosion in the companyrsquo;s near term outlook. On Friday, although management said revenues for the Q4 would come in higher than previously guided, the Street focused on downbeat margin guidance of -1% to 2% for the period due to an inventory and impairment charge resulting in one-time charges of about $100 million. The question at this point is whether all of the bad news has been priced into the stock. Our FY08 revenue expectations for the company are on the low end of guidance at $1.91 billion, and our income expectations are $86.9 ...

div style="text-align: justify;"Friedman Billings Ramsey comments on span style="font-weight: bold;"Tessera (NASDAQ:TSRA)/span after the Administrative Law Judge (ALJ) in the wireless ITC case determined that TSRA's asserted patents are valid but not infringed by the respondents (ATI, Freescale, Motorola, Qualcom, Spansion, ST Micro).br /br /FBR notes this is the same judge who (in February 2008) granted the same respondents a stay of motion, which was actually overruled by the ITC Commission 29 days later upon appeal by TSRA. span style="font-weight: bold;"To that end, it appears "on the surface" that TSRA could, once again, appeal to the ITC Commission with the goal of an overruling, especially considering the ITC staff commentaries that have been in favor of TSRA./spanbr /br /With all the uncertainties associated with the legal front, and lower EPS estimates in CY09, the key question is "What is the true value of the stock?"br /br /Firm calculates a sum of ...

Friedman Billings Ramsey is reiterating their Underperform rating on Wells Fargo (NYSE:WFC) noting that following its $11 billion capital raise, WFC's tangible common equity to assets ratio is just 3.3%. Given this low level, and their expectation that WFC will have to come back to the market and raise more capital, they reduce their price target to $20 (from $25). Target equals to 2.0x 3Q08 tangible book value.Why is tangible common equity important? It is the most important measure of a company's capital, as it is in a first loss position, and is a significant driver of a company's share price. If common equity is reduced by losses, book value shrinks and a stock will trade lower, regardless how much preferred equity is outstanding. FBR considers 3.3% tangible equity to assets a level of considerable leverage, particularly when faced with deteriorating credit quality, merger integration risk, economic weakness, ...

October 30, 2008 – First Solar (Nasdaq:FSLR) yesterday after the market, reported Q3 revenues of $348.7 million, up from $267 million in the prior quarter, and $159 million for the same period last year. Net income was $99.3 million, or $1.20 per share (fully diluted), compared with $69.7 million, or $0.85 per share in the prior quarter and $46 million, or $0.58 per share last year. The stock closed at $115.75 in yesterday’s session, at a P/S ratio of 9.39 times trailing twelve-months revenue and a P/E ratio of 33 times trailing twelve month earnings. Here are some updates and our take: First Solar remains a thoroughbred in a fast field. Management raised its 2008 sales forecast to a range of $1.22 billion to $1.24 billion and it expects sales of $2 to $2.1 billion in 2009. Its total backlog is $6.3 billion.   They also announced yesterday that they are now ...

September 9, 2008 – On August 1, we noted that First Solar (Nasdaq:FSLR) continued to impress, coming off a quarterly report where it reported an increase in sales by 247% to $267 million, and earnings per share of $0.87, on income of $69.6 million. We also thought, despite the $350 to $400 stock target set at Lazard, and the $345 to $370 target set at Calyon, the stock was overvalued, and agreed with Friedman Billings Ramsey’s target of $210. It was then trading around $286 and this morning it opened at $215. Even at $215, it is posting a P/E (ttm) of 78, trading at 21x sales (ttm) – still looking pretty pricey. We are bullish on First Solar’s business, and leadership position in the burgeoning thin-solar segment. We think that leadership position, and its demonstrated, as well as expected top and bottom-line growth warrants a premium in the stock. ...