Apple (AAPL) (DTV) (KFT) (RIMM) (NFLX) (LNKD) Ratings, Price Targets

Apple (NASDAQ: AAPL), DirecTV (NYSE: DTV), Kraft Foods (NASDAQ: KFT), Research In Motion (NASDAQ: RIMM), Netflix (NASDAQ: NFLX) and Linkedin (NASDAQ: LNKD) ratings and price targets.

DirecTV (DTV) was downgraded by UBS AG (NYSE:UBS) from a “Buy” rating to a “Neutral” rating.

Kraft Foods (KFT) had its price target raised by Stifel Nicolaus from $39.00 to $42.00. They have a “Buy” rating on the company.

Research In Motion (RIMM) had its “Neutral” rating reiterated by Sterne Agee.

Netflix (NFLX) had its “Market Perform” rating reiterated by Sanford C. Bernstein.

Raymond James (NYSE:RJF) initiated coverage on Linkedin (LNKD). They placed an “Outperform” rating on the company.

Apple (AAPL) had its price target raised by RBC Capital from $500.00 to $525.00. They have an “Outperform” rating on the company.

Kraft (KFT) Slashing 1,600 Jobs

With a split looming in the near future, Kraft Foods Inc. (NYSE:KFT) announced it will be cutting 1,600 job in North America.

These particular cuts will be in the sales, business and corporate units, but the company said they are still in the process of looking over its manufacturing business to see if they'll take any action there going forward.

Tony Vernon, executive vice president and president of Kraft Foods North America, said, "Making these tough choices is never easy, and we recognize the impact these changes will have on many of our people and their families. But our plan for a more nimble company, combined with the current economic and competitive pressures, led us to this point. Taking the necessary steps now will enable us to continue investing in our beloved brands to drive growth."

Vernon has been named CEO of the new grocery company emerging from the split of the giant food company.

Kraft said on Tuesday earnings for 2011 will come in at a minimum of $1.95 a share, and after adjusted costs, about $2.28 a share. Projected revenue are for $54.13 billion. Both figures are below analysts' estimates.

Kraft closed Tuesday at $38.13, gaining $0.36, or 0.95 percent.

Endo (ENDP) (EXAS) (KFT) (IVR) (JWN) (JCP) Ratings, Price Targets

Endo Pharmaceuticals (NASDAQ: ENDP), EXACT Sciences Co. (NASDAQ: EXAS), Kraft Foods (NASDAQ: KFT), Invesco Mortgage Capital Inc. (NYSE: IVR), Nordstrom, Inc. (NYSE: JWN) and J.C. Penney Company, Inc. (NYSE: JCP) ratings and price targets.

Endo Pharmaceuticals (ENDP) is now covered by William Blair. They have an “outperform” rating and a price target of $44.00 on the company.

EXACT Sciences Co. (EXAS) is now covered by Canaccord Genuity. They have a “buy” rating and a price target of $15.00 on the company.

Kraft Foods (KFT) had its price target raised by Ticonderoga from $37.00 to $42.00. They have a “buy” rating on the company.

Invesco Mortgage Capital Inc. (IVR) was downgraded by Jefferies Group (NYSE:JEF) from a “buy” rating to a “hold” rating.

Nordstrom, Inc. (JWN) was downgraded by Macquarie from an “outperform” rating to a “neutral” rating.

J.C. Penney Company, Inc. (JCP) was upgraded by Macquarie from a “neutral” rating to an “outperform” rating.

Impax (IPXL) (KFT) (KKR) (GPRO) (GXP) EPS Changes

Impax Laboratories, Inc. (NASDAQ: IPXL), Kraft Foods Inc. (NYSE: KFT), KKR (NYSE: KKR), Gen-Probe Incorporated (NASDAQ: GPRO) and Great Plains Engy (NYSE: GXP) had their EPS estimates adjusted by analysts.

Impax Laboratories, Inc. (IPXL) had its EPS estimates cut by at Goldman Sachs (NYSE:GS). They have a “Sell” rating and a price target of $18.00 on the company.

Kraft Foods Inc. (KFT) its EPS estimates raised by Citigroup (NYSE:C). They have a “Buy” rating and a price target of $42.00 on the company.

KKR (KKR) its EPS estimates cut by Oppenheimer. They have a “Market Perform” rating on the company.

Gen-Probe Incorporated (GPRO) its EPS estimates cut by Jefferies (NYSE:JEF). They have a “Buy” rating and a price target of $73.00 on the company.

Great Plains Engy (GXP) its EPS estimates cut by Goldman Sachs. They have a “Buy” rating on the company.

TECO (TE) (RBCN) (AVB) (CLP) (HGG) (KFT) Price Targets Changed

TECO Energy, Inc. (NYSE: TE), Rubicon Technology, Inc. (NASDAQ: RBCN), AvalonBay Communities, Inc. (NYSE: AVB), Colonial Properties (NYSE: CLP), HHGregg (NYSE: HGG) and Kraft Foods (NASDAQ: KFT) price targets adjusted by analysts.

TECO Energy, Inc. (TE) had its price target lowered by UBS AG (NYSE:UBS) to $19.00. They have a “Buy” rating on the company. They cited valuation as the catalyst behind the call.

Rubicon Technology, Inc. (RBCN) had its price target lowered by UBS AG from $28.00 to $15.00. They have a “Buy” rating on the company.

AvalonBay Communities, Inc. (NYSE: AVB) had its price target raised by analysts at FBR Capital from $142.00 to $146.50. The analysts now have an “outperform” rating on the company.

Colonial Properties (NYSE: CLP) had its price target raised by analysts at FBR Capital from $23.00 to $24.50. The analysts now have an “outperform” rating on the company.

HHGregg (NYSE: HGG) had its price target lowered by analysts at UBS AG from $15.00 to $12.00. The analysts now have a “neutral” rating on the company.

Kraft Foods (NASDAQ: KFT) had its price target raised by analysts at Stifel Nicolaus from $37.00 to $39.00. The analysts now have a “buy” rating on the company.

Kraft (KFT) (AIG) (ANR) (CAH) (GM) (HANS) (VC) EPS Estimates Changed

Kraft Foods Inc. (NYSE: KFT), American International Group, Inc. (NYSE: AIG), Alpha Natural Resources (NYSE: ANR), Cardinal Health (NYSE: CAH), General Motors (NYSE: GM), Hansen Natural Co. (NASDAQ: HANS) and Visteon Co. (NYSE: VC) EPS estimates adjusted by analysts.

Credit Suisse raised its EPS estimates on Kraft Foods Inc. (KFT). They have an “Outperform” rating and a price target of $41.00 on the company.

UBS AG (NYSE:UBS) lowered its EPS estimates on American International Group, Inc. (AIG). They have a “Neutral” rating and a price target of $30.00 on the company.

Credit Suisse (NYSE:CS) cut its EPS estimates on Alpha Natural Resources (ANR). They have a “Neutral” rating and a price target of $40.00 on the company.

UBS AG boosted its EPS estimates on Cardinal Health (CAH). They have a “Buy” rating and a price target of $51.00 on the company.

UBS AG raised its EPS estimates on General Motors (GM). They have a “Buy” rating and a price target of $42.00 on the company.

UBS AG raised its EPS estimates on Hansen Natural Co. (HANS). They have a “Buy” rating and a price target of $90.00 on the company.

UBS AG raised its EPS estimates on Visteon Co. (VC). They have a “Buy” rating and a price target of $88.00 on the company.

All-Time Highs for (IDA) (KFT) (KMB) (LBTYA) (LCAPA) Reached May 6

Idacorp (NYSE:IDA), Kraft Foods Inc. (NYSE:KFT), Kimberly-Clark Corp. (NYSE:KMB), Liberty Global (NASDAQ:LBTYA) and Liberty Media Corp. (NASDAQ:LCAPA) all breached all-time highs on Friday, May 6.

Idacorp (IDA) closed at $39.20, gaining $0.29, or 0.75 percent. They traded as high as $39.68 on the day.

Kraft Foods Inc. (KFT) closed Friday at $34.08, rising $0.69, or 2.07 percent. They traded as high as $34.49 on the day.

Kimberly-Clark Corp. (KMB) closed Friday at $66.88, climbing $0.05, or 0.07 percent. They traded as high as $67.37 on the day.

Liberty Global (LBTYA) closed at $45.90, up $0.20, or 0.44 percent. They traded as high as $51.93 on the day.

Liberty Media Corp. (LCAPA) closed at $86.96, gaining $2.35, or 2.78 percent. They traded as high as $87.76 on the day.

Price Targets on (KFT) (MFLX) (MRX) (NILE) (OFC) Updated

Analysts updated their price targets on Kraft Foods Inc. (NYSE: KFT), Multi-Fineline Electronix, Inc. (NASDAQ: MFLX), Medicis Pharmaceutic (NYSE: MRX), Blue Nile, Inc. (NASDAQ: NILE) and Corperate Office Properties (NYSE: OFC) today.

UBS AG (NYSE:UBS) raised their price target on Kraft Foods Inc. (KFT) to $36.00. They have a “buy” rating on the company.

Needham & Company cut their price target on Multi-Fineline Electronix, Inc. (MFLX) from $33.00 to $28.00. They have a “buy” rating on the company.

Collins Stewart raised their price target on shares of Medicis Pharmaceutic (NYSE: MRX) from $33.00 to $37.00. They have a “hold” rating on the company.

The Benchmark Company cut their price target on Blue Nile, Inc. (NILE) from $44.00 to $40.00. They have a “hold” rating on the company.

FBR Capital cut their price target on Corperate Office Properties (OFC) from $37.50 to $35.50. They have a “market perform” rating on the company.

Price Targets on (IMMR) (KFT) (LBTYA) (LXU) (MAC) Updated

Analysts updated their price targets on Immersion Corp (NASDAQ: IMMR), Kraft Foods (NASDAQ: KFT), Liberty Global Inc (NASDAQ: LBTYA), LSB Industries, Inc. (NYSE: LXU) and The Macerich Company (NYSE: MAC) today.

Dougherty & Co. raised their price target on Immersion Corp (IMMR) to $11.00.

Stifel Nicolaus raised their price target on Kraft Foods (KFT) from $35.00 to $37.00. They have a “buy” rating on the company.

HSBC (NYSE:HBC) raised their price target on Liberty Global Inc (LBTYA) from $44.00 to $51.00. They have an “overweight” rating on the company.

Northland Securities raised their price target on LSB Industries, Inc. (LXU) from $45.00 to $51.00. They have an “outperform” rating on the company.

Stifel Nicolaus raised their price target on The Macerich Company (MAC) from $51.00 to $54.00. They have a “buy” rating on the company.

Ralcorp (RAH) Tells ConAgra (CAG) No Marriage

ConAgra Foods (NYSE:CAG) evidently is showing they want Ralcorp (NYSE:RAH) very badly, as for the second time within a couple of months they made a bid for the leading producer of private label foods, and for the second time were rejected.

ConAgra had offered $83 a share for the company in March, and today offered $86 a share.

Ralcorp (RAH) has grown pretty quickly, and now stands at a little under half the market cap of ConAgra. If ConAgra does want them before they become too big to digest, they will probably have to bring in offer in the $90 range or more to secure a deal.

Competitors Kraft (NYSE:KFT), General Mills (NYSE:GIS), and Kellogg (NYSE:K) were trading mixed today.

Ralcorp was trading at $89.53, gaining $2.14, or 2.45 percent, as of 10:44 AM EDT.

Ratings on (EVR) (FLIR) (HON) (KFT) Reiterated

Ratings on Evercore Partners Inc. (NYSE: EVR), FLIR Systems, Inc. (NASDAQ: FLIR), Honeywell International Inc. (NYSE: HON) and Kraft Foods Inc. (NYSE: KFT) reiterated by analysts.

JPMorgan Chase & Co. (NYSE:JPM) analysts reiterated a “neutral” rating on Evercore Partners Inc. (EVR). They have a price target of $34.00 on the company.

Benchmark Co. reiterated a “hold” rating on FLIR Systems, Inc. (FLIR). They have a price target of $28.00 on the company.

Citigroup (NYSE:C) reiterated a “hold” rating on Honeywell International Inc. (HON).

Jefferies (NYSE:JEF) reiterated a “buy” rating on Honeywell International Inc.

Jefferies reiterated a “buy” rating on Kraft Foods Inc. (KFT).

Dividend Yields for (PM) (HNZ) (CPB) (KFT) (K)

Indicated dividend yields for Standard & Poor's 500 Index companies Philip Morris International (PM), HJ Heinz Co (HNZ), Campbell Soup Co (CPB), Kraft Foods Inc (KFT) and Kellogg Co (K).

These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.

Philip Morris International (PM) has a dividend yield of 3.69 percent on a declared dividend of $0.64. The payout ratio is 59.8 percent.

HJ Heinz Co (HNZ) has a dividend yield of 3.51 percent on a declared dividend of $0.45. The payout ratio is 52.8 percent.

Campbell Soup Co (CPB) has a dividend yield of 3.45 percent on a declared dividend of $0.29. The payout ratio is 40.6 percent.

Kraft Foods Inc (KFT) has a dividend yield of 3.45 percent on a declared dividend of $0.29. The payout ratio is 94.0 percent.

Kellogg Co (K) has a dividend yield of 3.00 percent on a declared dividend of $0.41. The payout ratio is 78.9 percent.

Food Companies (KFT) (PG) (GIS) (Dole) Offering Less for More

With rising costs pressuring earnings at food companies like Kraft (NYSE:KFT), Proctor & Gamble (NYSE:PG), General Mills (NYSE:GIS) and Dole (NYSE:DOLE), the companies have decided to offer less for more, as they shrink the size of their offerings while charging more.

This isn't anything new, as this has been the typical response of the food companies at times when consumer budgets are tight.

So when a consumer buys a bag of something, for example, now they'll find about 20 percent less than what it held before, but at the same price.

In tough times consumers are more aware of prices than they are on volume in the package, so companies can make these types of moves with a minimum of fuss.

Rising costs of inputs in the supply chain are the reasons for the companies changing their strategies.

Halliburton (HAL), Schlumberger (SLB), Transocean (RIG) Drop as Dow Continues Under Pressure

Stocks were under pressure for a third consecutive session Thursday as investors remained focused on the events in the Middle East, and shrugged off a handful of positive economic news.

The Dow Jones Industrial Average dropped more than 50 points, after the blue-chip index sank 107 points amid spreading unrest in the Middle East in the previous session.

Bank of America (BAC) and DuPont (DD) led Dow decliners, while Boeing (BA) and Kraft (KFT) were the only two gainers.

The S&P 500 fell, while the tech-heavy Nasdaq was up slightly. The CBOE Volatility Index, widely considered the best gauge of fear in the market, rose above 22, after posting strong gains over the previous two sessions.

All major S&P 500 sectors fell, led by materials, telecom and energy.

Halliburton (HAL), Schlumberger (SLB), Transocean (RIG) all dropped in the sector.





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Cabot Oil & Gas (COG), Range Resources (RRC), Chesapeake Energy (CHK), EOG Resources (EOG), Console Energy (CNX) Led the S&P 500

Stocks fell for the second straight session as continued violence in Libya fueled concerns about oil disruptions in the Middle East, sending oil prices up to two-and-a-half-year highs.

The Dow Jones Industrial Average dropped 107 points, or 0.9%, at 12,106. The S&P 500 finished lower by 8 points, or 0.6%, at 1,307, and the Nasdaq shed 33 points, or 1.2%, at 2,722.

The energy sector showed the mildest losses during Wednesday's session, with Chevron (CVX) and Exxon Mobil (XOM) trading at the top of the Dow along with Kraft Foods (KFT).

Market sentiment was bearish, with 61%, of shares trading on the New York Stock Exchange ending in the red while 36% advanced. Volume on the NYSE was 1.1 billion shares while 2.3 billion shares changed hands on the Nasdaq.




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Alcoa (AA), Bank of America (BAC), JPMorgan, Delta Air Lines (DAL), United Continental (UAL), AMR (AMR), Southwest Airlines (LUV) All Drop on Down Trading Day

The Dow Jones Industrial Average fell more than than 180 points, led by Alcoa (AA), Bank of America (BAC), and JPMorgan (JPM). The plunge follows three weeks of gains for the Dow, which reached its highest level since June 5, 2008.

Kraft (KFT) and Chevron (CVX) were among the only gainers on the blue-chip index.

The S&P 500 fell more than 2.2 percent, while the tech-heavy Nasdaq sank nearly 3 percent after both indices posted three straight weeks of gains and ended last week at new multi-year highs. The CBOE Volatility Index, widely considered the best gauge of fear in the market, soared more than 24 percent to above 20.

All key S&P 500 sectors remained lower, led by materials, financials, and industrials.

At mid-morning, Libya declined a "force majeure" on exports of oil products, and blocked imports, according to Reuters, citing trade sources. Force majeure is a common contract clause that frees both parties from fulfilling their obligations when an extraordinary event occurs.

"Clearly the jitters in the Middle East have taken the forefront today," Ryan Detrick, senior technical analyst at Schaeffer's Investment Research, told CNBC.com.

But Detrick said the underlying news on the economy and corporate earnings remains strong, and most likely, buyers will continue to emerge if the Middle East concerns ease.

"That’s why you want to side with the bulls," Detrick said. "I wouldn’t hit the eject button here."

That could change, however, if there were several consecutive days of selling, he said.

Oil prices rose to 2.5-year highs above $92 a barrel as Libyan production fell amid violence in the country. Investors are concerned the revolt in Libya could spread to other major oil producers in the Middle East and North Africa, crippling supplies.

Oil companies, however, gained on soaring oil prices. More than 60 percent of all domestic and international oil producers edged higher, including Chevron and ExxonMobil (XOM).

But oil refineries—which will see higher input costs if prices remain high—suffered, including Valero Energy (VAL), Hess (HES) and Marathon Oil (MRO).

And airlines were hard hit by rising oil prices, as most major carriers sank, including Delta Air Lines (DAL), United Continental (UAL), AMR (AMR), Southwest Airlines (LUV) and US Airways.

Saudi Arabia’s deputy oil minister tried to calm investors’ nerves, telling CNBC the country will not allow any supply disruptions from the Middle East to impact global supplies of oil.

But the head of the IEA said higher oil prices posed a threat to the global economic recovery, warning that if oil prices stay at $100 per barrel or above this year it would be as much of a burden as high oil prices were for the world economy in 2008.

The unrest in Egypt kept gold at lofty levels of more than $1,400 an ounce. The dollar (.DXY), meanwhile, traded relatively flat against a basket of currencies.

The tech-heavy Nasdaq plunged as investors fled highly liquid technology names, including Nvida (NVDA), MEMC Electronic Materials (WFR), Micron (MU) and Applied Materials (AMAT), according to Dave Rovelli, managing director of equity trading at Canaccord Genuity.

Financials were also hit by investors who move quickly in-and-out of these stocks, including Citigroup (C), Bank of America and JPMorgan.

Bank of America shares also were hurt after news it was writing down goodwill for a credit card unit by $20 billion, which was more than investors had expected.

Among the day's earnings news, Home Depot (HD) was one of the few bright spots on the Dow after the home imrpovement retailer posted better-than-expected results. However, some analysts remained skeptical as S&P Equity lowered its rating on the firm to "sell" from "hold."

Macy's (M) gained after the department store chain reported higher profits on rising holiday sales. The firm expects sales and profits will continue to rise this year.

But Wal-Mart (WMT) sank, after posting its seventh straight quarterly drop in U.S. sales.

And Barnes & Noble (BKS) plunged more than 10 percent after the bookstore chain announced it would suspend its dividend, and didn't provide a final quarter outlook for its fiscal year because of the bankruptcy filing of rival Borders. In addition, S&P Equity cut its price target on Barnes & Noble to $19 from $21.

Hewlett Packard (HP) and Chesapeake Energy (CHK) were slated to post earnings after the bell tonight.

On the M&A front, BHP Billiton (BHP) said it plans to buy shale gas reserves from Chesapeake Energy (CHK) for $4.75 billion.

And Forest Laboratories (FRX) agreed to buy Clinical Data (CLDA) for $1.2 billion to add to its portfolio of drugs to treat depression.

In other corporate news, Apple (AAPL) shares declined following a report that the next version of the iPad tablet computer will be delayed is not true, according to a source familiar with the matter.

And Netflix (NFLX) sank after news that Amazon.com (AMZN) would offer a streaming TV and movie service to compete directly against NetFlix. The service will be available to Amazon's premium customers.

Dynegy (DYN) fell after news that billionaire investor Carl Icahn would not buy the power company, and that its chairman and CEO was stepping down.




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Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC) Downgrade Chipotle (NYSE:CMG) on Rising Food Prices, Goldman (NYSE:GS) Still Likes Them

Bank of America (NYSE:BAC) and Wells Fargo (NYSE:WFC) were among four companies downgrading Chipotle Mexican Grill (NYSE:CMG), as food companies like Kellogg (NYSE:K) and Kraft (NYSE:KFT) are warning of the need to raise prices because of increasing food costs.

Miller Tabak and Morgan Keegan also downgraded Chipotle, but Goldman Sachs is going against the grain, maintaining "Buy" rating on the restaurant chain.

Goldman noted that Chipotle's sales growth will be able to overcome the higher costs of food.

They Chipotle is "the best growth story within our coverage universe and believe the company is still very early in its long-term growth trajectory."

Goldman raised their price target on Chipotle from $285 to $310.

Kraft (NYSE:KFT) to Raise Prices as Margins Squeezed

All things considered, Kraft Foods (NYSE:KFT) performed well in the last quarter, managing to meet expectations in a challenging scenario.

The company was able to generate earnings of $540 million, or 31 cents a share. While down 24 percent from last year in the same quarter, that was largely from the costs related to integrating Cadbury.

Minus costs, Kraft earned 46 cents a share, a penny off the 47 cents a share generated last year. That was the exact number analysts had been looking for.

Revenue jumped to $13.77 billion, a gain of 30 percent. Analysts had expected revenue to come in at $13.48 billion.

While Kraft cut boosted prices in the fourth quarter, they won't be enough to sustain profitability, said the food company, and they said more price hikes will be added throughout 2011.

All of that comes from commodity prices rising for corn, wheat, cocoa and sugar, among others.

Consequently, Kraft had to lower its EPS estimate for the year to 11 percent to 13 percent. In November they had estimated growth would be in the mid-teens.

Increases in prices won't help the company in the short-term, as it'll be several months before they start making a difference, so the latter part of 2011 will have margins return to wider levels.

Competitors Kellog Company (NYSE:K) and Sara Lee (NYSE:SLE) also recently announced they're going to be raising prices as well.

Kraft (KFT) Doesn't Get Preliminary Injunction Against Starbucks (SBUX)

Kraft Foods (NYSE:KFT) announced their attempt to have a preliminary injunction against Starbucks Coffee Company (Nasdaq:SBUX) was denied by the U.S. District Court for the Southern District of New York.

The General Counsel for Kraft responded saying:

"We're disappointed the judge decided not to grant a preliminary injunction. While we've always acknowledged that there are certain legal hurdles for obtaining a preliminary injunction, we avidly believe this case justifies an injunction and will argue that point vigorously on appeal.

"Importantly, however, today's decision is not a ruling on the core question of whether Starbucks can terminate our contract without compensating us as the contract requires. That question will be decided in arbitration.

"Without proof of material breach, Starbucks only legitimate termination mechanism is to pay Kraft fair market value for the business, plus a premium. We believe more strongly than ever that such a payment is the appropriate outcome in this dispute."

Kraft closed Friday at $30.53, down $0.01, or 0.03 percent. Starbucks closed at $31.73, down $1.30, or 3.94 percent.

Kraft Foods (NYSE:KFT) Undervalued Says Barclays (NYSE:BCS)

Barclays (NYSE:BCS) says Kraft Foods (NYSE:KFT) has been ignored by investors in regard to various segments they've made significant progress in, and believe the company is undervalued.

"Based on the market reaction since KFT's 3Q10 results (down nearly - 5% vs. the group -2% and a flat S&P 500), one would think that KFT has made little progress on any of the fronts on which investors base a more favorable bias, which we don't think is true. Given this inconsistency, we thought it might make sense to explore against which tenets of our own Overweight thesis KFT has veritably delivered, where there is more progress to be made, and the upcoming catalysts for the shares...All in, KFT's heavily discounted valuation (- 6% vs. peers) gives little credit to the company for the areas where it has shown steady progress, in our view," said Barclays.

They maintain an "Overweight" on Kraft, which closed Tuesday at $30.64, up $0.35, or 1.16 percent. Barclays has a price target of $35 on them.