Fluor (FLR) (UDR) (DRWI) (DX) (EROC) Upgraded

Fluor Co. (NYSE: FLR), UDR, Inc. (NYSE: UDR), DragonWave Inc. (NASDAQ: DRWI), Dynex Capital, Inc. (NYSE: DX) and Eagle Rock Energy Partners (NASDAQ: EROC) were upgraded by analysts.

Fluor Co. (FLR) was upgraded by Lazard Capital from a “Neutral” rating to a “Buy” rating. They have a price target of $68.00 on the company.

UDR, Inc. (NYSE: UDR) was upgraded by Janney Montgomery Scott from a “Neutral” rating to a “Buy” rating.

DragonWave Inc. (DRWI) was upgraded by Jefferies (NYSE:JEF) from a “Hold” rating to a “Buy” rating. They have a price target of $10.00 on the company.

Dynex Capital, Inc. (DX) was upgraded by Cantor Fitzgerald from a “Hold” rating to a “Buy” rating.

Eagle Rock Energy Partners (EROC) was upgraded by Wells Fargo & Co. (NYSE:WFC) from a “Market Perform” rating to an “Outperform” rating.

MIPS (MIPS) (CECO) (DF) (ECHO) (FLR) (MDR) Price Targets Changed

MIPS Technologies, Inc. (NASDAQ: MIPS), Career Education Corp. (NASDAQ: CECO), Dean Foods Co (NYSE: DF), Echo Global Logistics Inc (NASDAQ: ECHO), Fluor Co. (NYSE: FLR) and McDermott International (NYSE: MDR) price targets adjusted by analysts.

Career Education Corp. (CECO) had its price target lowered by Citigroup (NYSE:C) to $21.00. They have a “Hold” rating on the company.

Dean Foods Co. (DF) had its price target lowered by UBS AG (NYSE:UBS) from $13.00 to $10.00. They have a “Neutral” rating on the company.

Echo Global Logistics Inc. (ECHO) had its price target raised by Barrington Research from $18.00 to $22.00. They have an “Outperform” rating on the company.

Fluor Co. (FLR) had its price target lowered by UBS AG from $84.00 to $77.00. They have a “Buy” rating on the company.

McDermott International (MDR) had its price target lowered by Credit Suisse (NYSE:CS) to $26.00. They have an “Outperform” rating on the company.

MIPS Technologies, Inc. (MIPS) had its price target lowered by The Benchmark Company from $11.00 to $8.00. They have a “Buy” rating on the company.

Fluor (FLR) (PKI) (DLB) (ARCC) (GNOM) (SD) Price Targets Changed

Fluor Co. (NYSE: FLR), PerkinElmer, Inc. (NYSE: PKI), Dolby Labs (NYSE: DLB), Ares Capital (NASDAQ: ARCC), Complete Genomics (NASDAQ: GNOM) and SandRidge Energy Inc. (NYSE: SD) price targets adjusted by analysts.

Fluor Co. (FLR) had its price target raised by Credit Suisse (NYSE:CS) to $86.00. They have an “Outperform” rating on the company.

PerkinElmer, Inc. (PKI) had its price target lowered by UBS AG (NYSE:UBS) from $31.00 to $28.00. They have a “Buy” rating on the company.

Dolby Labs (DLB) had its price target lowered by Canaccord Genuity from $54.00 to $33.00. They have a “Hold” rating on the company.

Ares Capital (ARCC) had its price target lowered by Citigroup (NYSE:C) to $17.00. They have a “Buy” rating on the company.

Complete Genomics (GNOM) had its price target lowered by UBS AG from $15.00 to $8.50. They have a “Neutral” rating on the company.

SandRidge Energy Inc. (SD) had its price target lowered by UBS AG to $10.00. They have a “Neutral” rating on the company.

Apple (AAPL) (CECO) (DISCA) (FLR) (PCLN) (RIG) Price Targets Changed

Apple, Inc (NASDAQ: AAPL), Career Education Corp. (NASDAQ: CECO), Discovery Communications (NASDAQ: DISCA), Fluor Co. (NYSE: FLR), Priceline (NASDAQ: PCLN) and Transocean (NYSE: RIG) had price targets adjusted by analysts.

Apple, Inc. (AAPL) had its price target raised by Needham & Company to $540.00. They have a “Buy” rating on the company.

Career Education Corp. (CECO) had its price target lowered by UBS AG (NYSE:UBS) from $25.00 to $20.00. They have a “Neutral” rating on the company.

Discovery Communications (DISCA) had its price target lowered by MKM Partners from $50.00 to $46.0. They have a “Buy” rating on the company.

Fluor Co. (FLR) had its price target lowered by Oppenheimer from $84.00 to $78.00. They have an “Outperform” rating on the company.

Priceline (PCLN) had its price target raised by The Benchmark Company from $676.00 to $690.00. They have a “Buy” rating on the company.

Transocean (RIG) had its price target lowered by UBS AG from $80.00 to $72.00. They have a “Buy” rating on the company.

Coverage on (LXP) (ROSE) (TWGP) (RWT) (FLR) Reiterated

Coverage on Lexington Realty Trust (NYSE:LXP), Rosetta Resources (NASDAQ:ROSE), Tower Group Inc (NASDAQ:TWGP), Redwood Trust, Inc. (NYSE:RWT) and Fluor Corp. (NYSE:FLR) reiterated by analysts.

FBR Capital Markets analysts reiterated an "Outperform" rating on Lexington Realty Trust (LXP). They have a price target of $10 on the company.

FBR Capital Markets analysts reiterated an "Outperform" rating on Rosetta Resources (ROSE). They have a price target of $55 on the company.

FBR Capital Markets analysts reiterated an "Outperform" rating on Tower Group Inc (TWGP). They have a price target of $33 on the company, down from $34.

Deutsche Bank (NYSE:DB) analysts reiterated a "Buy" rating on Redwood Trust, Inc. (RWT). They have a price target of $21.50 on the company.

FBR Capital Markets analysts reiterated an "Outperform" rating on Fluor Corp. (FLR). They have a price target of $81 on the company, down from $84.

Price Targets on (FE) (DIOD) (FLR) (HOGS) (IILG) Updated

Price targets on FirstEnergy Corp. (NYSE: FE), Diodes (NASDAQ: DIOD), Fluor Co. (NYSE: FLR), ZHONGPIN INC. (NASDAQ: HOGS) and Interval Leisure Group Inc (NASDAQ: IILG) updated by analysts.

Citigroup (NYSE:C) raised their price target on FirstEnergy Corp. (FE) from $36.00 to $41.00. They have a “hold” rating on the company. They cited valuation as the catalyst behind their call.

Longbow Research raised their price target on Diodes (DIOD) from $37.00 to $41.00. They have a “buy” rating on the company.

FBR Capital cut their price target on Fluor Co. (FLR) from $84.00 to $81.00. They have an “outperform” rating on the company.

Maxim Group raised their price target on ZHONGPIN INC. (HOGS) from $18.00 to $20.00. They have a “buy” rating on the company.

FBR Capital cut their price target on Interval Leisure Group Inc (IILG) from $21.00 to $19.00. They have an “outperform” rating on the company.

Big Movers (HAYN) (CME) (FLR) (UFS) (WCG) on May 6

Among the big, positive movers on Friday, May 6, were Haynes International (HAYN), CME Group Inc. (CME), Fluor Corp. (FLR), Domtar Corp. (UFS) and Wellcare Group (WCG).

Haynes International (HAYN) was jumped $6.12, to close at $56.87, a gain of 12.06 percent.

CME Group Inc. (CME) was up $5.56 on the day, to close at $291.59, a gain of 1.94 percent.

Fluor Corp. (FLR) climbed $5.18 to close at $70.87, a gain of 7.89 percent.

Domtar Corp. (UFS) rose $5.05 to close the session at $99.81, a gain of 5.33 percent.

Wellcare Group (WCG) jumped $4.89 to end the day at $47.33, a gain of 11.52 percent.

Dividends from (DTE) (DUK) (FLR) (TU) (LNCE) Declared

DTE Energy Co (NYSE:DTE), Duke Energy Corp (NYSE:DUK), Fluor Corp. (NYSE:FLR), TELUS Corp (NYSE:TU), and Lance Inc (NASDAQ:LNCE) declare dividends.

The Board of Directors of DTE Energy (DTE), declared a quarterly common stock dividend of $0.5875 a share payable 7/15/11 to shareholders of record at the close of business on 6/20/11.

The Board of Directors of Duke Energy Corp (DUK) declared a cash dividend of $0.245 a share on the company's common stock payable on 6/16/11 to Stockholders of record on 5/20/11.

The Board of Directors of Fluor Corp. (FLR) declared a regular cash dividend of $0.125 a common share. The dividend will be payable on 7/5/11 to common stockholders of record at the close of business on 6/3/11.

The Board of Directors of TELUS Corp (TU) declared a regular cash dividend of $0.55 per common share. The dividend will be payable on 7/4/11 to common stockholders of record at the close of business on 6/10/11.

The Board of Directors of Lance Inc (LNCE) declared a regular cash dividend of $0.16 per common share. The dividend will be payable on 5/24/11 to common stockholders of record at the close of business on 5/16/11.

Dividend Yields for (PCAR) (CMI) (FAST) (FLR) (JOYG)

Indicated dividend yields for Standard & Poor's 500 Index companies PACCAR Inc (PCAR), Cummins Inc (CMI), Fastenal Co (FAST), Fluor Corp (FLR) and Joy Global Inc (JOYG).

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.

PACCAR Inc (PCAR) has a dividend yield of 0.90 percent on a declared dividend of $0.12. The payout ratio is 22.7 percent.

Cummins Inc (CMI) has a dividend yield of 0.87 percent on a declared dividend of $0.26. The payout ratio is 14.9 percent.

Fastenal Co (FAST) has a dividend yield of 0.78 percent on a declared dividend of $0.26. The payout ratio is 92.7 percent.

Fluor Corp (FLR) has a dividend yield of 0.71 percent on a declared dividend of $0.12. The payout ratio is 19.0 percent.

Joy Global Inc (JOYG) has a dividend yield of 0.69 percent on a declared dividend of $0.17. The payout ratio is 17.8 percent.

NRG (NRG) (FLR) (SHAW) (CXZ) Closed Mixed in Monday Trading

Shares of uranium and nuclear companies like NRG (NYSE:NRG), Crosshair Expl & Mining (AMEX:CXZ), Fluor (FLR) and Shaw Group Inc. (NYSE:SHAW) closed mixed Monday April 25th after the initial shock of the nuclear challenges in Japan from the earthquake start to gradually wind down.

The headline's that the nuclear sector is going to be abandoned and replaced by other so-called "green" energy is of course ludicrous, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying, the growing energy needs of the world.

While it's obvious the nuclear industry will go over safety measures to ensure the highest safety levels possible, the idea of taking an extremely rare occurrence like an 8.9 earthquake in Japan as the worst case scenario to determine nuclear strategies isn't going to happen, even though the industry will be safer and better for making any improvements they can.

Uranium suppliers, either way, will continue to enjoy growth going forward, regardless of the response to the industry in the aftermath of Japan, as existing nuclear plants will continue to operate for years into the future, and will need uranium to power them.

Who could be hurt more, depending on if they have any courage to continue on in the sector or not, are General Electric (NYSE:GE) and Siemens (NYSE:SI).

URG (URG) (FLR) (UUU) (NLR) (NUCL) Close Mixed as Nuclear Rebounds

Shares of uranium and nuclear companies like Fluor (FLR), Ur Energy (URG), Uranium One (TSE:UUU), Market Vectors Nuclear Energy E (NYSEArca:NLR) and iShares S&P Global Nuclear Energy Index (Nasdaq:NUCL) are trading mixed after the initial shock of the nuclear challenges in Japan from the earthquake are gradually winding down.

The headline nonsense that somehow the nuclear sector was going to be cut and replaced by other so-called "green" energy is ludicrous, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying the growing energy needs of the world.

While it's obvious the industry will go over safety measures to ensure the highest safety levels possible, to use a rare occurrence like an 8.9 earthquake as the worst case scenario isn't going to happen, even though the industry will be safer and better for making any improvements they can.

Smaller uranium companies like Crosshair Expl & Mining (AMEX:CXZ) and Uranerz Energy (AMEX:URZ) closed down, while the larger companies closed up.

Market Vectors Nuclear Energy E closed Friday at $22.68, gaining $0.03, or 0.13 percent. iShares S&P Global Nuclear Energy Index closed at $40.63, falling $0.24, or 0.59 percent. Ur Energy closed at $1.65, down $0.01, or 0.60 percent. Uranium One closed at $3.89, down $0.04, or 1.02 percent. Fluor ended the session at $68.73, gaining $1.91, or 2.86 percent.

Netflix (NFLX), Fluor (FLR), Satcon Technology (SATC), Frontier Communications (FTR), Grand Canyon Education (LOPE) Plunge on Earnings, Outlook

Shares of Netflix (NFLX), Fluor (FLR), Satcon Technology (SATC), Frontier Communications (FTR) and Grand Canyon Education (LOPE) are getting hammered today on disappointing earnings and announcements

Fluor Corp. fell 5.7 percent to $66.52 and slumped to $66.34 earlier in the trading session. The largest publicly traded U.S. construction company reported fourth-quarter profit that missed analysts’ estimates after an expense related to a U.K. wind farm and lower revenue from oil and gas projects.

Frontier Communications dropped 6.7 percent to $8.59 and fell as much as 17 percent. The phone company serving rural U.S. markets reported fourth-quarter earnings of 5 cents a share, falling below the average analyst estimate by 41 percent.

Grand Canyon Education plunged 10 percent to $15.18 and dropped to $14.48 earlier. The for-profit college posted quarterly sales that were below the average analyst estimate.

Netflix was down 3.9 percent to $212.93 and fell to $212 earlier. The DVD-rental and streaming company was cut to “underperform” from “hold” at Needham & Co. Netflix has a moat problem as content delivery moves toward streaming, where service becomes a commodity and price the deciding factor.

Satcon Technology plummeted 22 percent to $3.75 and was down as much as 24 percent earlier. The maker of solar-power and fuel-cell inverters projected first-quarter revenue of no more than $70 million. That compares with the $74.9 million average of analysts.

Earnings at Fluor (NYSE:FLR), Foster Wheeler (Nasdaq:FWLT), Jacobs Engineering (NYSE:JEC), SNC-Lavalin Reach Inflection Point Says Canaccord

In the engineering, procurement, and construction universe covered by Canaccord Genuity, they see earnings at Fluor (NYSE:FLR), Foster Wheeler (Nasdaq:FWLT), Jacobs Engineering (NYSE:JEC) and SNC-Lavalin as having reached an inflection point.

Canaccord says, "In our opinion, earnings and multiples have reached an inflection point for the four engineering, procurement, and construction (EPC) equities in our coverage universe: Fluor (FLR), Foster Wheeler (FWLT), Jacobs Engineering (), and SNC-Lavalin.

"Catalysts abound at SNC owing to its diversified business model and increasingly international geographic footprint. We reiterate our BUY rating on the stock and increase our target price 8% to C$70.00 as we increase our target valuation�multiple to 19x cash-adjusted 2012E E&C EPS (then add C$13/share for ICI’s and C$6/share in freehold cash). We raise our target price on Jacobs to $62.00 from $50.00 and reiterate our BUY rating. Our new target is based on 18x (from 14x) cash-adjusted CY2012E EPS + $11/share in freehold cash. We increase our Foster Wheeler target price to $43.00 from $38.00 and reiterate our BUY rating. Our new valuation multiple is 16x 2012E EPS from 14x previously (plus $7.50 in freehold cash). We reiterate our BUY rating on Fluor and increase our target price to $79.00 from $67.50. We now value Fluor using 19x cash-adjusted 2012E EPS from 16x previously (plus $8.50 in freehold cash)."

Fluor closed Friday at $71.19, gaining $1.01, or 1.44 percent. Foster Wheeler closed at $37.32, up $0.25, or 0.67 percent. Jacobs Engineering closed at $51.02, gaining $2.27, or 4.66 percent.

Fluor (NYSE:FLR) Dropped from "Top Pick" List of FBR

Since FBR Capital had placed Fluor (NYSE:FLR) on their "Top Pick" list, the company has enjoyed a surge of 44 percent, prompting FBR to remove them from the list, saying that performance isn't sustainable.

FBR says, "Removing Fluor from the FBR Top Picks list, but raising price target and reiterating rating. The shares of Fluor have appreciated 44% since we placed them on the FBR Top Picks list, versus the S&P 500, which appreciated only 12%. Although we continue to believe investors will be significantly rewarded going forward, outsized outperformance is unlikely, partly due to recent multiple expansion. We are raising our price target to $84, or 10x estimated 2011 EV/EBITDA, and in line with its 10-year historical average multiple."

FBR Capital maintains an "Outperform" rating on Fluor, which closed Tuesday at $68.34, gaining $2.33, or 3.53 percent. FBR boosted their price target on the company to $84.

Fluor (NYSE:FLR), Foster Wheeler (Nasdaq:FWLT), McDermott (NYSE:MDR), CB&I (NYSE: CBI) Barclays' Favorite E&C Picks

Saying they prefer "oily" E&C picks for 2011, Barclays (NYSE:BCS) favorites in the sector are Fluor (NYSE:FLR), Foster Wheeler (Nasdaq:FWLT), McDermott (NYSE:MDR) and CB&I (NYSE:CBI).

Barclays said, "We remain bullish regarding the prospects for many of our Engineering and Construction stocks under coverage in 2011, led by continued global economic improvement, higher oil demand/pricing, and accelerated growth in oil & gas awards.

"We still like "oily" E&Cs with significant international exposure (our favorites remain Fluor (NYSE: FLR), Foster Wheeler (Nasdaq: FWLT), McDermott (NYSE: MDR), and CB&I (NYSE: CBI)) when analyzing E&C potential growth and stock price performance in 2011 and introduce target multiples on 2012 earnings that are two turns higher than our previous multiples.

"We maintain our target P/E valuation multiple of E&Cs with significant exposure to domestic power/utilities as we believe meaningful recovery in utility spending is still slated for the late 2011/2012 timeframe, including expected ramp-up in commercial nuclear and emissions control work (Shaw Group (Nasdaq:SHAW), Babcock (NYSE:BWC), MasTec (NYSE:MTZ))."

Fluor closed Friday at $65.92, gaining $0.57, or 0.87 percent. Foster Wheeler closed at $34.88, down $0.32, or 0.91 percent. McDermott closed at $20.04, gaining $0.11, or 0.55 percent. CB&I ended the session at $32.88, up $0.61, or 1.89 percent.

Fluor (NYSE:FLR) Jacobs Engineering (NYSE:JEC), URS (NYSE:URS) Should Give Solid Returns in 2011

Believing the recent rebound in engineering and construction stocks is sustainable, FBR Capital has their strongest picks in the sector as Fluor (NYSE:FLR) Jacobs Engineering (NYSE:JEC) and URS (NYSE:URS).

FBR:

Engineering & Construction (E&C): "Stocks have started to rally over the past month (+15% since October 29 versus the S&P at +5%), which we believe is the beginning of a much longer cycle. Backlog has started to improve. We expect the oil & gas market to redevelop, the domestic power market to witness opportunities, federal spending to be constant, and state/local to remain unclear. Finally, strong balance sheets should limit downside risk and possibly enhance EPS growth through share repurchases and M&A. As our 2010 FBR Top Pick, Fluor (Outperform) is up 39% year to date, we believe Jacobs Engineering (Outperform) and URS Corp. (Outperform) should provide solid returns in 2011.

Specialty Contracting. "In 2011, we expect revenue growth to redevelop broadly and be complemented by improving profit margins. Emerging trends include: improving telecommunications (wireless and wireline) capex, a pickup in electric transmission coupled with a more stable electric distribution market, and a steadily improving economy that should eventually lead to a pickup in the housing market and commercial construction. M&A activity and share buybacks should also enhance growth in 2011. Our favorite small-cap specialty contractors for 2011 include Dycom Industries (NYSE:DY)(Outperform), EMCOR Group (NYSE:EME)(Outperform), MYR Group (Nasdaq:MYRG)(Outperform), and UniTek (Nasdaq:UNTK)(Outperform)."

Flour closed Thursday at $63.15, up $1.84, or 3.00 percent. Jacobs closed at $42.48, up $0.42, or 1.00 percent. URS ended the session at $43.09, up $0.53, or 1.25 percent.

Fluor (NYSE:FLR) Jacobs Engineering (NYSE:JEC) and URS (NYSE:URS)

Fluor (NYSE:FLR), Foster Wheeler (Nasdaq:FWLT), McDermott (NYSE:MDR), KBR (NYSE:KBR) EPS Estimates Raised

Saying energy infrastructure will lead the Engineering & Construction sector in 2011, Gleacher & Co. said they're raising their earnings estimates on Fluor (NYSE:FLR), Foster Wheeler (Nasdaq:FWLT), McDermott (NYSE:MDR) and KBR (NYSE:KBR).

Gleacher stated, "In conjunction with rolling out our 2012 EPS estimates, we are increasing our price targets on Fluor to ($67 from $60), Foster Wheeler ($35 from $30), McDermott ($23 from $21) and KBR, Inc. ($33 from $30). We believe the trough in industry backlog is behind us and market conditions are favorable for energy infrastructure equity appreciation.

"In general, we maintain our view that international energy/mining infrastructure companies will drive better investor returns than domestic Federal and energy exposed companies. Gulf Island and B&W are exceptions to our thesis as we believe pure-play Gulf of Mexico fabrication and nuclear will outperform other US
end-markets."

Gleacher has a "Buy" rating on the the stocks mentioned above.

Flour closed Monday at $57.98, gaining $0.39, or 0.68 percent. Foster Wheeler ended the session at $29.11, rising by $0.33, or 1.15 percent. McDermott International closed the day at $18.17, dropping $0.22, or 1.20 percent. KBR ended at $27.68, losing $0.06, or 0.22 percent.