Zumiez (ZUMZ) (CLWR) (EXAS) (END) (AZN) (GSM) Ratings, Price Targets

Zumiez (NASDAQ: ZUMZ), Clearwire (NASDAQ: CLWR), EXACT Sciences Co. (NASDAQ: EXAS), Endeavour International Co. (NYSE: END), AstraZeneca (NYSE: AZN) and Globe Specialty Metals, Inc. (NYSE: GSM) ratings and price targets.

Zumiez (ZUMZ) had its “Neutral” rating reiterated by Janney Montgomery Scott.

Clearwire (CLWR) is now covered by Guggenheim. They placed a “Buy” rating on the company.

EXACT Sciences Co. (EXAS) is now covered by JMP Securities. They placed an “Outperform” rating and a price target of $14.00 on the company.

Endeavour International Co. (END) had its price target raised by Wunderlich to $18.00.

AstraZeneca (AZN) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from a “Neutral” rating to an “Underweight” rating.

Globe Specialty Metals, Inc. (GSM) was downgraded by Jefferies Group (NYSE:JEF) from a “Buy” rating to a “Hold” rating.

Clearwire (CLWR) Ratings, Price Targets

Clearwire (NASDAQ: CLWR) ratings and price targets.

Guggenheim initiated coverage on Clearwire (CLWR). They have a “Buy” rating on the firm.

Kaufman Brothers downgraded Clearwire from a “Buy” rating to a “Hold” rating. They now have a price target of $2.00 on the firm, down from $5.00.

Jefferies Group (NYSE: JEF) initiated coverage on Clearwire. They have a “Buy” rating on the firm.

Bank of America (NYSE: BAC) upgraded Clearwire to a “Buy” rating. They have a price target of $4.00 on the firm.

Clearwire was trading at $1.87, dropping $0.05, or 2.60 percent, as of 11:49 AM EST.

TiVo (TIVO) (KRG) (CLWR) (EDMC) (ENR) (UNP) Ratings, Price Targets

TiVo Inc. (NASDAQ:TIVO), Kite Realty (NYSE:KRG), Clearwire (NASDAQ:CLWR), Education Management (NASDAQ:EDMC), Energizer (NYSE:ENR) and Union Pacific (NYSE:UNP) ratings and price targets.

TiVo Inc (TIVO) was upgraded by Evercore from an "Equal Weight" rating to an "Overweight" rating. They have a price target of $12.00 on the firm.

Morgan Keegan upgraded Kite Realty (KRG) from a "Market Perform" rating to an "Outperform" rating.

Clearwire (CLWR) was downgraded by Kaufman Brothers from a "Buy" rating to a "Hold" rating. They lowered their price target from $5.00 to $2.00 on the firm.

Education Management (EDMC) was downgraded by Barclays (NYSE:BCS) from an "Overweight" rating to an "Equal Weight" rating.

Energizer (ENR) was downgraded by BMO Capital from an "Outperform" rating to a "Market Perform" rating.

Union Pacific (UNP) was downgraded by Stifel Nicolaus from a "Buy" rating to a "Hold" rating. They have a price target of $113.00 on the firm.

Zipcar (ZIP) (TRIP) (WBCO) (CCE) (CLWR) (COLB) Get New Coverage

Zipcar (NYSE: ZIP), Travelbyus, Inc. (NASDAQ: TRIP), Washington Banking Company (NASDAQ: WBCO), Coca-Cola Enterprises (NYSE: CCE), Clearwire (NASDAQ: CLWR) and Columbia Banking (NASDAQ: COLB) getting new coverage from analysts.

Bank of America (NYSE:BAC) initiated coverage on Travelbyus, Inc. (TRIP). They placed an “Underperform” rating and a price target of $32.00 on the company.

Stifel Nicolaus initiated coverage on Washington Banking Company (WBCO). They placed a “Buy” rating on the company.

MKM Partners initiated coverage on Zipcar (ZIP). They placed a “Sell” rating and a price target of $9.00 on the company.

Bank of America (NYSE:BAC) initiated coverage on Coca-Cola Enterprises (CCE). They placed a “Neutral” rating on the company.

Jefferies Group (NYSE:JEF) initiated coverage on Clearwire (CLWR). They placed a “Buy” rating on the company.

Stifel Nicolaus initiated coverage on Columbia Banking (COLB). They placed a “Hold” rating on the company.

Synutra (SYUT) (UNP) (WAC) (AFFY) (CLWR) (COLB) Upgraded

Synutra International, Inc. (NASDAQ: SYUT), Union Pacific (NYSE: UNP), Walter Investment Management Corp. (NYSE: WAC), Affymax, Inc. (NASDAQ: AFFY), Clearwire (NASDAQ: CLWR) and Columbia Banking (NASDAQ: COLB) were upgraded by analysts.

Synutra International, Inc. (SYUT) was upgraded by Roth Capital from a “Neutral” rating to a “Buy” rating.

Union Pacific (UNP) was upgraded by RBC Capital from a “Sector Perform” rating to an “Outperform” rating.

Walter Investment Management Corp. (WAC) was upgraded by Credit Suisse (NYSE:CS) from a “Neutral” rating to an “Outperform” rating. They have a price target of $28.00 on the company.

Affymax, Inc. (AFFY) was upgraded by Zacks Investment Research from an “Underperform” rating to a “Neutral” rating.

Clearwire (CLWR) was upgraded by Bank of America (NYSE:BAC) to a “Buy” rating. They have a price target of $4.00 on the company.

Columbia Banking (COLB) was upgraded by Zacks Investment Research from a “Neutral” rating to an “Outperform” rating.

Poniard (PARDD) (OPTT) (CLWR) (LTBR) (TIER) (INFA) (RFMD) Biggest NASDAQ Losers

Poniard Pharmaceuticals (NASDAQ:PARDD), Ocean Power Technologies Inc. (NASDAQ:OPTT), Clearwire (NASDAQ:CLWR), Lightbridge Corp. (NASDAQ:LTBR), Tier Technologies, Inc. (NASDAQ:TIER), Informatica Co. (NASDAQ:INFA) and RF Micro Device (NASDAQ:RFMD) were the biggest losers on the NASDAQ, Wednesday, December 7.

Poniard Pharmaceuticals (PARDD) ended the session down 14.51 percent, closing at $3.89. They traded in a range of $3.55 to $4.48. A total of 22,877 shares changed hands.

Ocean Power Technologies Inc. (OPTT) ended the session down 13.60 percent, closing at $3.24. They traded in a range of $3.13 to $3.74. A total of 211,509 shares changed hands.

Clearwire (CLWR) ended the session down 10.00 percent, closing at $2.25. They traded in a range of $2.25 to $2.64. A total of 27,671,691 shares changed hands.

Lightbridge Corp. (LTBR) ended the session down 8.63 percent, closing at $2.33. They traded in a range of $2.30 to $2.64. A total of 70,895 shares changed hands.

Tier Technologies, Inc. (TIER) ended the session down 8.29 percent, closing at $3.65. They traded in a range of $3.40 to $4.11. A total of 22,065 shares changed hands.

Informatica Co. (INFA) ended the session down 7.82 percent, closing at $43.14. They traded in a range of $42.89 to $46.45. A total of 1,959,818 shares changed hands.

RF Micro Device (RFMD) ended the session down 7.51 percent, closing at $5.79. They traded in a range of $5.65 to $6.21. A total of 17,085,188 shares changed hands.

Clearwire (CLWR) (IVR) (MRGE) (NLY) (CELL) (CHKP) Downgraded

Clearwire (NASDAQ: CLWR), Invesco Mortgage Capital Inc. (NYSE: IVR), Merge Healthcare Inc. (NASDAQ: MRGE), Annaly Capital Management, Inc. (NYSE: NLY), Brightpoint Inc. (NASDAQ: CELL) and Check Point Software (NASDAQ: CHKP) were downgraded by analysts.

Clearwire (CLWR) was downgraded by Raymond James (NYSE:RJF) from an “Outperform” rating to a “market perform” rating.

Invesco Mortgage Capital Inc. (IVR) was downgraded by Guggenheim from a “Buy” rating to a “Neutral” rating.

Merge Healthcare Inc. (MRGE) was downgraded by Craig Hallum from a “Buy” rating to a “Hold” rating.

Annaly Capital Management, Inc. (NLY) was downgraded by Ladenburg Thalmann from a “Buy” rating to a “Neutral” rating.

Brightpoint Inc. (CELL) was downgraded by Jefferies (NYSE:JEF) from a “Buy” rating to a “Hold” rating. They have a price target of $11.00 on the company.

Check Point Software (CHKP) was downgraded by Morgan Stanley (NYSE:MS) from an “Overweight” rating to an “Equal Weight” rating.

Tiffany (TIF) (OVTI) (P) (CLWR) Make Big Moves

Shares of Tiffany (NYSE:TIF), OmniVision Technologies (NASDAQ:OVTI), Pandora Media (NYSE:P) and Clearwire (NASDAQ:CLWR) are among the big movers today, with Pandora and Tiffany pushing up and Clearwire and OmniVision going in the opposite direction.

Pandora Media (P) was trading at $13.63, gaining $1.16, or 9.30 percent, as of 11:49 AM EDT. Better-than-expected second-quarter earnings is the catalyst here.

Tiffany (TIF) was trading at $67.53, up $4.42, or 7.00 percent. The catalyst for Tiffany was also strong quarterly results which beat analysts' expectations.

OmniVision Technologies (OVTI) is getting pummeled, plunging to $16.93, down $7.89, or 31.79 percent. Weak guidance for the current quarter is the reason for the huge drop in share price.

Clearwire (CLWR) was trading down at $2.74, losing $0.25, or 8.36 percent. Talks with Blackstone Group about restructuring options appears to be the catalyst with Clearwire

Apple (AAPL) (CLWR) (CMCSA) (COST) (EEP) (YHOO) Ratings Reiterated

Apple, Inc (NASDAQ: AAPL), Clearwire (NASDAQ: CLWR), Comcast Co. (NASDAQ: CMCSA), Costco (NASDAQ: COST), Enbridge Energy Partners LP (NYSE: EEP) and Yahoo! Inc. (NASDAQ: YHOO) have ratings on them reiterated by analysts.

Piper Jaffray (NYSE:JPC) reiterated its "Overweight" rating on Apple, Inc (AAPL) was . They have a price target of $607.00 on the company.

Morgan Stanley (NYSE:MS) reiterated its "Underweight" rating on Clearwire (CLWR).

Wunderlich reiterated its "Buy" rating on Comcast Co. (CMCSA). They have a price target of $33.00 on the company.

Piper Jaffray reiterated its "Overweight" rating on Costco (COST).

Morgan Keegan reiterated its "Outperform" rating on Enbridge Energy Partners LP (EEP). They have a price target of $35.00 on the company.

Deutsche Bank (NYSE:DB) reiterated its "Hold" rating on Yahoo! Inc. (YHOO). They have a price target of $13.00 on the company.

Price Targets on (ALTH) (APEI) (ARX) (CE) (CLWR) Updated

Analysts updated price targets on Allos Therapeutics Incorporated (NASDAQ: ALTH), American Public Education (NASDAQ: APEI), Aeroflex Holding Corp. (NYSE: ARX), Celanese Co. (NYSE: CE) and Clearwire (NASDAQ: CLWR).

Citigroup (NYSE:C) cut their price target on Allos Therapeutics Incorporated (ALTH) from $7.00 to $5.00. They have a “buy” rating on the stock.

RBC Capital raised their price target on American Public Education (APEI) from $42.00 to $50.00. They have an “outperform” rating on the company.

Needham & Company raised their price target on Aeroflex Holding Corp. (ARX) from $20.00 to $22.00. They have a “buy” rating on the company.

Citigroup raised their price target on Celanese Co. (CE) from $59.00 to $63.00. They have a “buy” rating on the company.

Citigroup cut their price target on Clearwire (CLWR) from $7.00 to $6.00. They have a “reduce” rating on the company.

Sprint (S) Paying Clearwire (CLWR) $1 Billion in Fees

Sprint (NYSE:S) has come to an agreement with Clearwire (NASDAQ:CLWR) to pay the company $1 billion in fees to settle a dispute that had been affecting the revenue of the company to a degree.

Terms of the agreement are Sprint will pay $300 million in 2011 and $550 million in 2012. It also agreed to pre-pay $175 million for its high-speed, "4G" telecommunications services it plans to use this year and beyond. Sprint will also pay Clearwire $28 million to settle a pricing dispute.

Nomura Equity Research analyst Mike McCormack commented on the deal saying, "For Sprint, we view the agreement as a small positive, in that it allows the company some breathing room to continue discussions with LightSquared, while maintaining a 4G presence through Clearwire."

Essentially it "maintains the status quo" between the two companies, concluded McCormack.

The bigger positive from a shareholder point of view is this will relieve the concerns they had that Sprint may acquire all of Clearwire.

Clearwire closed Tuesday at $5.53, falling $0.25, or 4.33 percent. Sprint closed at $4.74, gaining $0.04, or 0.85 percent.

Clearwire (CLWR) Accused of Inflating Subscriber Numbers

In an attempt to resurrect a case that had been dismissed against Clearwire (Nasdaq: CLWR) in 2009 (which is under appeal), a motion was filed by attorneys of the plaintiffs to have the case reinstated, which accused the company of inflating its subscriber figures in order to attract investors.

Also included with the motion was for the court to issue what is called an “indicative ruling.” That would allow an additional charge to be added to the original lawsuit; in this instance a charge of fraud.

Clearwire responded to the latest move saying, “Any allegation that Clearwire conspired to mislead its customers is baseless and absurd. We flatly deny any inference of fraud. We will vigorously defend ourselves against any such allegations.”

The filing asserts that in mid-2008, executives at the company altered the computer program in order to qualify those living outside the service areas. The purpose in doing that, according to attorneys, was to increase the company’s gross customer numbers while it was looking for investors to help expand its network.

In the end, Clearwire received investment of $3.2 billion from Sprint (NYSE:S), Google (Nasdaq: GOOG), Intel (NASDAQ:INTC), Time Warner Cable (NYSE:TWC) and Comcast (NASDAQ:CMCSA).

Sprint holds a 54 percent stake in Clearwire.

AT&T (T) Faces Divestitures in T-Mobile Deal

Facing scrutiny and some opposition from competitors, AT&T (NYSE:T) CEO Randall Stephenson said he expects to have to divest of some of the assets they get when they acquire T-Mobile.

Included in the divestiture will be some of the wireless spectrum and customers that come with the company.

“We anticipate there will be some markets we will have to divest,” Stephenson said.

"AT&T’s plan to buy T-Mobile from Deutsche Telekom AG for $39 billion is expected to face heavy scrutiny from regulators and opposition from consumer-advocacy groups and competitors. Rivals Sprint (NYSE:S) and Clearwire Corp. (NASDAQ:CLWR) have been vocal about the alleged harmful impact of the deal," said Marketwatch.

Verizon Wireless (NYSE:VZ) Chief Executive Dan Mead previously said his company sees an opportunity to potentially scoop up some divested assets.

This is how Sprint and Clearwire need to view the potential transaction, not from a place of weakness where all they attempt to do is stop the deal from going forward.

AT&T was trading at $30.89, gaining $0.84, or 2.80 percent, as of 1:19 PM EDT.

Sprint (S) Value So Low Must Merge

After the offer by AT&T (NYSE:T) for T-Mobile, it appears that Sprint Nextel Corp. (NYSE:S) has been put in the postiion where it must make a merger deal with someone.

Sprint’s 11 percent plunge to $4.49 after the announcement of the T-Mobile USA deal has left its stock trading below the company’s $4.87 a share in assets minus liabilities. That means investors can now buy Sprint for 92 cents on the dollar, cheaper than 99 percent of companies in the Standard & Poor’s 500 Index excluding financials, according to data compiled by Bloomberg. Sprint’s licenses from the U.S. Federal Communications Commission, which give it the right to operate its network in specific regions, alone are worth $19.9 billion, 46 percent more than its market capitalization of $13.6 billion, the data show.

AT&T’s purchase of T-Mobile USA from Deutsche Telekom AG (DTE) will give the combined company more than double the customers of Sprint, while Verizon Wireless has almost twice the market share. To boost value, Overland Park, Kansas-based Sprint may buy the remaining stake in partner Clearwire Corp. (CLWR) or another carrier such as MetroPCS Communications Inc. (PCS), according to Dan Hays, a director at consultancy PRTM. It may also become a target for Verizon as carriers that run on the same network technology are forced to combine, he said.

“Someone, whether it’s Sprint or Verizon (NYSE:VZ), is going to have to serve as a catalyst for the consolidation,” said Washington- based Hays, who specializes in telecommunications. “What’s clear is that they can’t all afford to remain independent.”

Sprint closed Wednesday at $4.49, up $0.02, or 0.45 percent.



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Best Buy (BBY) Selling LightSquared Wireless Services

LightSquared, an emerging competitor of Clearwire Corp (NASDAQ:CLWR), said it has entered into a deal with retailer Best Buy (NYSE:BBY) to sell wireless services using its network.

Best Buy and other companies have wanted to be able to sell wireless services under their own brands, something LightSquared can offer with its wholesale wireless services.

LightSquared CEO Sanjiv Ahuja said at the CTIA annual wireless showcase that more deals will be announced in the weeks and months ahead.

"It opens up the wireless industry to new entrants who could never before offer wireless service," Ahuja said.

Terms of the deal with Best Buy weren't disclosed. Tests on the new service will start in the early part of 2012.

Best Buy was trading at $31.61, gaining $0.19, or 0.60 percent, as of 12:53 PM EDT.

Sprint's (S) Future Bleaker with AT&T (T) Deal

If the bid by AT&T for T-Mobile from Deutsche Telekom AG (NYSE:DTE) is allowed to go forward, the future of Sprint (NYSE:S) is much bleaker and more challenging, as it would fall to an even weaker No. 3 position.

Shares of Sprint had been trading down by about 17 percent in earlier trading, and closed down well over 13 percent on the day, as implications of the deal for Sprint hit investors.

With the takeover announced yesterday, AT&T would become the largest U.S. mobile-phone company. The deal still needs regulatory approval. Sprint also held talks with Deutsche Telekom about buying T-Mobile, people with knowledge of the matter said this month.

By acquiring T-Mobile, Sprint would have gained ground on larger rivals Verizon Wireless (NYSE:VZ) and AT&T. Now, AT&T could leave Sprint as a far weaker No. 3 player in the industry, said Craig Moffett, an analyst at Sanford C. Bernstein & Co. in New York.

“A Sprint deal is now off the table and Sprint is left to go it alone,” Moffett said in a research note today. The AT&T deal, if approved, makes Sprint’s prospects “decidedly worse,” he said.

Moffett cut his rating on Sprint to “underperform” and lowered his price estimate for the stock to $3 from $5, saying the company is worth about $9.2 billion. Moffett estimates Sprint’s operations are worth $22.2 billion and that the net value of its non-operating assets, including debt, cash and a stake in Clearwire Corp. (NASDAQ:CLWR), is negative $13 billion.

Sprint closed Monday at $4.36, falling $0.69, or 13.61 percent.

Clearwire (CLWR) Cleans Management House, CEO, CIO Step Down

In a big management shakeup at troubled Clearwire (NASDAQ:CLWR), CEO Bill Morrow stepped down for what is being described as "personal reasons," and CIO Kevin Hart and chief commercial officer Mike Sievert, are also leaving the company.

Replacing Morrow on an interim basis will be chairman John Stanton. The changed is effective immediately.

Stepping into a newly created chief operating officer position will be current CFE Erik Prusch. Treasurer Hope Cochran will take over the CFO job.

The Wall Street Journal’s Matt Jarzemsky the shakeup comes as Clearwire
“continued to burn through cash, demonstrating the sky-high costs associated with building a brand-new network.”

Clearwire closed Thursday at $5.75, gaining $0.37, or 6.88 percent.

Sprint (S) Committed to Clearwire (CLWR) Says CEO

Saying Clearwire Corp. (NASDAQ:CLWR) is part of “every option” for Sprint’s (NYSE:S) future, and all aspects for fourth-generation WiMax technology involves the wholesale, with Chief Executive Officer Dan Hesse saying the company remains committed to them.

Hesse added he’d like to see Sprint do more network sharing with Clearwire, which sells capacity from its own network to Sprint and other carriers. He spoke today at the Deutsche Bank AG Media & Telecom Conference in Palm Beach, Florida. Clearwire is 54 percent owned by Sprint.

Deutsche Telekom AG has held talks to sell its T-Mobile USA unit to Sprint in exchange for a major stake in the combined entity, according to people with knowledge of the discussions.

Deutsche Telekom and Sprint haven’t been able to agree on a valuation for T-Mobile USA, the fourth-largest U.S. wireless carrier, the people said. Hesse declined to comment on speculation about any such transactions.

Clearwire was trading at $5.38, up $0.18, or 3.56 percent, as of 2:10 PM EST. Sprint was at $4.68, down $0.02, or 0.53 percent.





Source

Sprint (S) Closing in on Clearwire (CLWR) Deal

Sprint Nextel Corp. (NYSE:S) announced they should be able to take care of the pricing disagreement they have with its partner Clearwire Corp. (NASDAQ:CLWR).

The pricing battle has been going on since 2010, and has come close to ending the partnership, and still could if it isn't worked out.

Sprint Chief Executive Dan Hesse said, "Our Plan A is together with Clearwire, but we do have a Plan B. If we don't reach agreement, we will go and do our own thing."

The disagreement is over what Clearwire charges Sprint for the use its 4G wireless network.

Hesse has said he won't invest more money in Clearwire until the issue is resolved.

Clearwire closed Wednesday at $4.78, dropping $0.0475, or 0.98 percent. Sprint closed at $4.25, gaining $0.04, or 0.95 percent.

Clearwire (CLWR) See Possible 109 Million in Stock Sales

Shares of Clearwire (NASDAQ:CLWR) are down in trading today after the company said in a filing with the SEC last night that some shareholders may sell up to roughly 109 million shares of the stock if they choose to exercise their rights to a portion of the $729 million in exchangeable notes Clearwire has outstanding.

The notes, due 2040, may be converted to common stock at any time and sold, the company said, with a proposed maximum price of $4.93, for a total potential sale of $537 million.

Clearwire is not receiving any proceeds of the sale, it said.

Chesapeake Partners Limited Partnership may sell as much as 3.5 million shares, though the firm holds just 2 million at present. Chesapeake Partners Master Fund may sell 3.5 million as well, the company said, though it holds just under $2 million now. And Highbridge International LLC may sell roughly 23,000 shares.

Clearwire was trading at $4.85, down $0.18, or 3.58 percent, as of 12:13 PM EST.




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