Author: ToddSullivan

Upgrades
Comerica (CMA)- FTN Midwest Neutral » Buy
Comstock (CRK)- BMO Capital Markets Market Perform » Outperform
Advent Software (ADVS)- Needham Buy » Strong Buy
Agrium (AGU)- RBC Capital Mkts Sector Perform » Outperform
Wachovia (WB)- Stifel Nicolaus Hold » Buy
Sprint Nextel (S)- Cowen & Co Neutral » Outperform
INX Inc. (INXI)- Brean Murray Hold » Buy
Methanex (MEOH)- UBS Neutral » Buy
TEPPCO Partners (TPP)- Citigroup Hold » Buy
Omniture (OMTR)- Piper Jaffray Neutral » Buy
Citizens Rep Bancorp (CRBC)- Oppenheimer Perform » Outperform
Ness Tech (NSTC)- Susquehanna Financial Neutral » Positive
Citizens Rep Bancorp (CRBC)- Keefe Bruyette Mkt Perform » Outperform
Preferred Bank (PFBC)- Friedman Billings Underperform » Mkt Perform
SLM Corp (SLM)- Lehman Brothers Equal-Weight » Overweight
Stellent (STEL)- Robert W. Baird Neutral » Outperform

Downgrades
Cutera (CUTR)- Maxim Group Buy » Hold
Texas Industries (TXI)- BB&T Capital Mkts Buy » Hold
Gafisa SA (GFA)- Deutsche Securities Buy » Hold
Ryanair Hldgs (RYAAY)- Deutsche Securities Hold » Sell
Leapfrog (LF)- BMO Capital Markets Outperform » Market Perform
Verenium (VRNM)- Broadpoint Capital Buy » Neutral
Lev Pharmaceuticals (LEVP)- Susquehanna Financial Positive » Neutral
Harrington West Financial (HWFG)- RBC Capital Mkts Outperform » Sector Perform
ProLogis (PLD)- RBC Capital Mkts Top Pick » Outperform
MTS Medication (MPP)- Broadpoint Capital Strong Buy » Neutral
Sunoco (SUN)- JP Morgan Neutral » Underweight
Valero Energy (VLO)- JP Morgan Overweight » Neutral
HSBC Holdings (HBC)- UBS Buy » Neutral
Southern Copper (PCU)- HSBC Securities Overweight » Neutral

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Wednesday’s Picks
Jeff Macke recommends the Financial Select Sector SPDR (XLF) $27.52

Guy Adami prefers Merck (MRK) $38.84

Pete Najarian suggests Apple (AAPL) $186.66

Karen Finerman thinks Kaiser Aluminum (KALU) $70.87 is a buy ahead of earnings.

Tuesday’s Results
Jeff Macke likes Hasbro (HAS) $35.66 Close $35.83 GAIN

Guy Adami prefers Anheuser-Busch Companies (BUD) $51.41 Close $52.04 GAIN

Karen Finerman prefers ValueClick (VCLK) $20. Close $20.48 GAIN

Pete Najarian thinks AT&T (T) $39.85 is a buy. Close $39.56 LOSS

2008 Records:
Brian Schaeffer= 0-1
Carter Worth= 1-1
Jon Najarian= 4-3
Jeff Macke= 34-27-1
Tim Seymore= 16-13
Guy Adami= 35-30
Pete Najarian= 34-28
Karen Finerman= 28-29-1
Joe Terrenova= 1-1

2007 Results (Since 6/21):
Guy Adami= 58-46 = 56%
Jeff Macke= 60-40 = 60%
Pete Najarian= 49-41 = 54%

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Another Fed auction has gone off and for the third time in a row, banks are paying higher interest rates.

On May 5, 2008, the Federal Reserve conducted an auction of $75 billion in 28-day credit through its Term Auction Facility. Following are the results of the auction:

Stop-out rate: 2.220 percent

Total propositions submitted: $96.618 billion
Total propositions accepted: $75.000 billion
Bid/cover ratio: 1.29

Number of bidders: 71

For weak dollar foes, this is good news as climbing rates will give strength to the dollar and ought to help with rapidly rising commodity prices.

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LeapFrog (LF) really is doing a nice job here considering the headwinds in the economy.

The company reiterated its current expectations for full year 2008 results:

* New products introduced in 2007 and 2008 are expected to comprise
approximately half of 2008 net sales;
* Net sales are expected to grow at an annual percentage rate in the
mid-to-high teens;
* Gross margin is expected to continue to improve;
* Selling, general and administrative expenses and research and
development expenses are expected to decrease approximately 10%-15%
year-over-year;
* The company expects a nominal loss for the year;
* The first half results are expected to be weaker than the first half
of 2007, and the second half results are expected to show substantial
improvement over the second half of 2007, reflecting the impact of new
product introductions and cost reductions; and
* Cash and investments are expected to be approximately $100 million at
year-end.

“We entered 2008 expecting the first half to be weak ahead of new product launches. First quarter results were slightly better than our expectations due primarily to the continued strength of our Educational Gaming business, led by our Leapster product,” said Jeffrey G. Katz, president and chief executive officer of LeapFrog. “More importantly our 2008 product launches are on track. We begin shipments of our Tag reading system in less than two weeks and our new educational gaming systems, Leapster 2 and Didj, will ship this summer. We expect that these new products will contribute to significant sales growth and margin improvement in the back half of the year.

The key here is that the new products, which are awesome and have received excellent reviews are not even fully in the sales channel yet.

I am sure that a certain part of this is that unlike the Mattel (MAT) and Hasbro (HAS) offerings, lead induced brain damage is not an issue for kids playing with them. That and the fact that for a kid to actually break a Leapster takes a herculean effort.

Now LeapFrog is an insignificant portion of the portfolio and is there simply because of the great products they make and because people like Marty Whitman and Larry Ellsion are investors. Eventually this will pay off…

Disclosure (“none” means no position):Long LF, none

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Ever start reading a book and find yourself not wanting to put it down? Micheal Covel’s “Complete Turtle Trader” is such a book.

Covel takes an intimate and detailed look into the entire “Turtle” experiment. The book is filled with interviews with the participants, competitors and some of the greatest traders in history about the experiment.

Unlike Curtis Faith’s self-indulgent “Way of the Turtle“, Covel’s book plays no favorites and lays bare the experiment. Covel does a mini-biography of Richard Dennis, the experiment’s founder and goes into detail as to how Dennis created his fortune.

While the actual detailing of the experiment is very interesting, the best part of the book for me was Covel’s following of the Turtle’s after it was over. Here the book takes us into what the individual Turtle’s did to leverage their new cache after Dennis abruptly ended the experiment (despite the Turtle’s still trading successfully) and what how some went on to stunning success and how others essentially stopped trading. Here the book gives us lessons on entrepreneurship and how some Turtles “made that one phone call” that lead them to billions while others faded to obscurity.

The “Turtle” story is a fascinating one and in my opinion Covel has done a fantastic job telling it. I highly recommend this book.

PS: I knew the book was going to be something I might like when in the introduction Covel refers to Jim Cramer and his show as “total bullshit”.

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Bequests, Student Loans, ADM, Sizzlin’

– 3/4 of all estates are divided equally among children

– Rather than investigate lenders, why not look int the colleges? Tuition grows over triple the rate of inflation..Why?

– ADM declares dividend

– This company is very interesting

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Bequests, Student Loans, ADM, Sizzlin’

– 3/4 of all estates are divided equally among children

– Rather than investigate lenders, why not look int the colleges? Tuition grows over triple the rate of inflation..Why?

– ADM declares dividend

– This company is very interesting

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Leucadia (LUK) is buying more share in global investment bank Jefferies Group (JEF). Between 5/1 and 5/5 in three transactions, Leucadia added an additional 2,153,092 shares at between $19.58 & $19.99 a share

They now own 42,352,196 shares or 31.9% of the outstanding total.

Jefferies Group, Inc., along with its subsidiaries, operates as a full-service global investment bank and institutional securities firm serving companies and their investors. The Company offers these companies capital markets, merger and acquisition (M&A), restructuring and other financial advisory services. Jefferies Group, Inc. provides investors with fundamental research and trade execution in equity, equity-linked, high yield and investment-grade, fixed-income securities, as well as commodities and derivatives. Jefferies Group, Inc. also provides asset management services and products to institutions and other investors. The Company operates in two business segments: Capital Markets and Asset Management. The Capital Markets segment includes Jefferies Group, Inc.’s securities trading and investment banking activities. The Asset Management segment primarily includes operating activities related to the Company’s asset management businesses

Disclosure (“none” means no position):None

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Upgrades
Apple (AAPL)- AmTech Research Neutral » Buy
South Fincl Group (TSFG)- Fox Pitt In Line » Outperform
First Ind. Rlty (FR)- BMO Capital Markets Market Perform » Outperform
Intermec (IN)- Stanford Research Sell » Hold
Superior Essex (SPSX)- Morgan Joseph Hold » Buy
MedAssets (MDAS)- William Blair Mkt Perform » Outperform
New York & Co (NWY)- Brean Murray Hold » Buy
UST Inc (UST)- Deutsche Securities Hold » Buy
NN Inc (NNBR)- KeyBanc Capital Mkts Hold » Buy
Diebold (DBD)- KeyBanc Capital Mkts Hold » Buy
W-H Energy Svcs (WHQ)- Deutsche Securities Hold » Buy
Comerica (CMA)- Deutsche Securities Hold » Buy
CACI Intl (CAI)- Jefferies & Co Hold » Buy
EV3 (EVVV)- Friedman Billings Mkt Perform » Outperform
Commercial Vehicle Group (CVGI)- JP Morgan Neutral » Overweight
Brasil Telecom Part (BRP)- Deutsche Securities Hold » Buy

Downgrades
CyberSource (CYBS)- Wedbush Morgan Strong Buy » Buy
Torchmark Corp (TMK)- Fox Pitt Outperform » In Line
Stoneridge (SRI)- KeyBanc Capital Mkts Buy » Hold
PharmaNet Devlpmt (PDGI)- Jesup & Lamont Neutral » Sell
Kintera (KNTA)- Roth Capital Buy » Hold
Yahoo! (YHOO)- Citigroup Buy » Sell
PeopleSupport (PSPT)- JMP Securities Mkt Outperform » Mkt Perform
DCT Industrial Trust (DCT)- Wachovia Outperform » Mkt Perform
ArthroCare (ARTC)- Susquehanna Financial Neutral » Negative
Getty Images (GYI)- William Blair Outperform » Mkt Perform
American Capital (ACAS)- UBS Neutral » Sell
Mack-Cali Realty (CLI)- UBS Neutral » Sell
Countrywide (CFC)- Friedman Billings Mkt Perform » Underperform
Onebeacon Insurance (OB)- Keefe Bruyette Outperform » Mkt Perform
Mid-America Aptmt (MAA)- Keefe Bruyette Outperform » Mkt Perform

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Upgrades
Apple (AAPL)- AmTech Research Neutral » Buy
South Fincl Group (TSFG)- Fox Pitt In Line » Outperform
First Ind. Rlty (FR)- BMO Capital Markets Market Perform » Outperform
Intermec (IN)- Stanford Research Sell » Hold
Superior Essex (SPSX)- Morgan Joseph Hold » Buy
MedAssets (MDAS)- William Blair Mkt Perform » Outperform
New York & Co (NWY)- Brean Murray Hold » Buy
UST Inc (UST)- Deutsche Securities Hold » Buy
NN Inc (NNBR)- KeyBanc Capital Mkts Hold » Buy
Diebold (DBD)- KeyBanc Capital Mkts Hold » Buy
W-H Energy Svcs (WHQ)- Deutsche Securities Hold » Buy
Comerica (CMA)- Deutsche Securities Hold » Buy
CACI Intl (CAI)- Jefferies & Co Hold » Buy
EV3 (EVVV)- Friedman Billings Mkt Perform » Outperform
Commercial Vehicle Group (CVGI)- JP Morgan Neutral » Overweight
Brasil Telecom Part (BRP)- Deutsche Securities Hold » Buy

Downgrades
CyberSource (CYBS)- Wedbush Morgan Strong Buy » Buy
Torchmark Corp (TMK)- Fox Pitt Outperform » In Line
Stoneridge (SRI)- KeyBanc Capital Mkts Buy » Hold
PharmaNet Devlpmt (PDGI)- Jesup & Lamont Neutral » Sell
Kintera (KNTA)- Roth Capital Buy » Hold
Yahoo! (YHOO)- Citigroup Buy » Sell
PeopleSupport (PSPT)- JMP Securities Mkt Outperform » Mkt Perform
DCT Industrial Trust (DCT)- Wachovia Outperform » Mkt Perform
ArthroCare (ARTC)- Susquehanna Financial Neutral » Negative
Getty Images (GYI)- William Blair Outperform » Mkt Perform
American Capital (ACAS)- UBS Neutral » Sell
Mack-Cali Realty (CLI)- UBS Neutral » Sell
Countrywide (CFC)- Friedman Billings Mkt Perform » Underperform
Onebeacon Insurance (OB)- Keefe Bruyette Outperform » Mkt Perform
Mid-America Aptmt (MAA)- Keefe Bruyette Outperform » Mkt Perform

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Tuesday’s Picks
Jeff Macke likes Hasbro (HAS) $35.66

Guy Adami prefers Anheuser-Busch Companies (BUD) $51.41

Karen Finerman prefers ValueClick (VCLK) $20.

Pete Najarian thinks AT&T (T) $39.85 is a buy.

Monday’s Results
Jeff Macke likes Microsoft (MSFT) $29.24 Close $29.08 LOSS

Guy Adami prefers UPS (UPS) $73.28 Close $72.74 LOSS

Karen Finerman suggests Philip Morris International (PM) $51.02 Close $50.81 LOSS

Tim Seymour thinks Unibanco (UBB) $155.66 is a buy. Close $152.74 LOSS

2008 Records:
Brian Schaeffer= 0-1
Carter Worth= 1-1
Jon Najarian= 4-3
Jeff Macke= 33-27-1
Tim Seymore= 16-13
Guy Adami= 34-30
Pete Najarian= 34-27
Karen Finerman= 27-29-1
Joe Terrenova= 1-1

2007 Results (Since 6/21):
Guy Adami= 58-46 = 56%
Jeff Macke= 60-40 = 60%
Pete Najarian= 49-41 = 54%

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Gas, Utah, Wii, Herb

– A little reality check on gas

– Beware of stuff like this

– Isn’t this like getting her a new vacuum?

– See ya…

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Gas, Utah, Wii, Herb

– A little reality check on gas

– Beware of stuff like this

– Isn’t this like getting her a new vacuum?

– See ya…

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