5/28/2018

Weibo (WB) Stake Lessened by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in shares of Weibo (NASDAQ:WB) by 33.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,901 shares of the information services provider’s stock after selling 16,357 shares during the period. Envestnet Asset Management Inc.’s holdings in Weibo were worth $3,927,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Korea Investment CORP raised its position in Weibo by 30.8% during the first quarter. Korea Investment CORP now owns 6,800 shares of the information services provider’s stock valued at $813,000 after buying an additional 1,600 shares during the period. Penserra Capital Management LLC raised its position in Weibo by 171.8% during the first quarter. Penserra Capital Management LLC now owns 175,216 shares of the information services provider’s stock valued at $20,945,000 after buying an additional 110,749 shares during the period. US Bancorp DE raised its position in Weibo by 7.3% during the first quarter. US Bancorp DE now owns 65,384 shares of the information services provider’s stock valued at $7,816,000 after buying an additional 4,437 shares during the period. State of New Jersey Common Pension Fund D raised its position in Weibo by 133.2% during the first quarter. State of New Jersey Common Pension Fund D now owns 34,313 shares of the information services provider’s stock valued at $4,102,000 after buying an additional 19,600 shares during the period. Finally, Neuberger Berman Group LLC raised its position in Weibo by 172.4% during the first quarter. Neuberger Berman Group LLC now owns 55,047 shares of the information services provider’s stock valued at $6,581,000 after buying an additional 34,840 shares during the period. 23.87% of the stock is currently owned by institutional investors.

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WB has been the topic of several recent analyst reports. BidaskClub raised Weibo from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 4th. Zacks Investment Research downgraded Weibo from a “buy” rating to a “hold” rating in a research note on Saturday, February 17th. Benchmark boosted their target price on Weibo from $110.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, ValuEngine upgraded Weibo from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $134.67.

Shares of NASDAQ WB opened at $102.57 on Friday. The company has a current ratio of 3.99, a quick ratio of 3.99 and a debt-to-equity ratio of 0.66. Weibo has a one year low of $65.65 and a one year high of $142.12. The stock has a market capitalization of $22.89 billion, a price-to-earnings ratio of 65.75 and a beta of 2.61.

Weibo (NASDAQ:WB) last issued its earnings results on Wednesday, May 9th. The information services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. Weibo had a return on equity of 36.15% and a net margin of 31.12%. The firm had revenue of $319.90 million for the quarter, compared to the consensus estimate of $343.91 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The business’s quarterly revenue was up 60.6% compared to the same quarter last year. equities research analysts anticipate that Weibo will post 2.72 EPS for the current fiscal year.

Weibo Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates through two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.

Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

5/25/2018

Valuation Analysis Update For U.S. Steel


Introduction

U.S. Steel (X) was the first stock I targeted for my "Too Cheap To Ignore" series of articles.

When my U.S. Steel analysis was published on Seeking Alpha on December 17th, 2015, U.S. Steel shares closed that day at $7.25 per share, as commodity equities were at the tail end of a very difficult bear market.

Yesterday, U.S. Steel shares have closed above $35 per share, at $35.44, for a total gain excluding dividends of 389% from that December 17th, 2015 closing price.

Given such strong gains, is there any upside remaining in U.S. Steel shares?

Building on this narrative, what does the company's per share valuation look like today?

A Long Way

U.S. Steel shares have come a long way from their early 2016 lows.

(Source: WTK, StockCharts)

While the gains have been tremendous, U.S. Steel is still below its 2009 & 2010 recovery highs, and nowhere close to 2007, 2008, and early 2009 levels.

Steel Prices Are Strong Today

U.S. Steel's stock price has clearly been buoyant the past several years, yet steel prices have been even stronger, as the chart from SteelBenchmarker shows below.

(Source: SteelBenchmarker)

From the chart above, it should be obvious that the market does not believe the recent steel price strength is sustainable, because if it did, U.S. Steel shares would be much higher than they are now, as I will show below.

Is U.S. Steel Undervalued Or Overvalued Today?

Per the Q1 2018 10-Q, U.S. Steel had 178,289,000 shares of stock outstanding. At a closing price of $35.44 yesterday, this gives the company an equity market capitalization value of $6.3 billion.

From the 10-Q, U.S. Steel had long-term debt of $2.57 billion, alongside cash & cash equivalents of $1.37 billion, so there is $1.2 billion in net debt.

Thus, U.S. Steel's current enterprise value is roughly $7.5 billion.

EBITDA for the calendar year 2018, were projected to be $1.7 billion to $1.8 billion in the company's first quarter earnings release.

(Source: U.S. Steel's Q1 Earnings Release)

With an enterprise value of $7.5 billion, and an EBITDA of $1.75 billion at the midpoint of guidance, which is low as I will illustrate below, U.S. Steel is selling for an EV/EBITDA ratio of 4.3.

For reference, commodity equities, including U.S. Steel typically sell at EV/EBITDA multiples of 7-10, with the better quality balance sheet companies trading at the higher end of the multiple. On this note, U.S. Steel, is poised to become net cash positive over the next 12 months, as their net debt only stands at $1.2 billion right now.

If you use a 7x multiple on current earnings estimates, which is at the low end of historical multiples, U.S. Steel's equity fair value per share would be roughly $62 per share. This implies upside potential of 75% in U.S. Steel shares.

However, this even understates the appreciation potential, in my opinion, as earnings estimates have been rising with the increasing steel prices.

(Source: Yahoo Finance with WTK's annotations)

Given the increase in steel prices, I think U.S. Steel is going to earn over $2 billion in EBITDA this year, and next.

Putting a 7x EV/EBITDA multiple, which again is at the lower end of historical ranges, gives U.S. Steel a $72 per share fair value today. This valuation suggests upside potential of 103% in U.S. Steel common shares.

(Authors Note: For an expanded version of this article in The Contrarian, I have calculated further valuation models.)

Closing Thoughts - U.S. Steel Shares Are Still Undervalued

Despite a strong share price advance from its early 2016 lows, U.S. Steel's shares have not kept pace with the company's fundamental improvement. Thus, using a variety of valuation models, U.S. Steel's shares appear undervalued today, by a material margin. EV/EBITDA models suggest upside potential of 75% to 103%, with respective price targets of $62 to $72 per share based on a 7 times EV/EBITDA ratio, which is a the low end of historical multiples, especially for companies with strong balance sheets, which U.S. Steel currently possesses.

Why do shares remain undervalued?

The answer is that commodities, and by extension commodity equities, get very little respect right now, since commodities are so out-of-favor versus the broader equity market.

(Source: WTK, StockCharts)

With commodities still historically undervalued, and out-of-favor versus the broader equity market, as measured by the S&P 500 SPDR ETF (SPY), even the better fundamentally performing commodity equities remain under-owned, and undervalued, and that is the case for U.S. Steel today.

To close, the investment landscape is changing as commodities made what appears to be a secular low early in 2016, followed by what appears to be a secular low in sovereign interest rates later in 2016. As time cements these turning points, investors will begin to change their future assumptions, and the respective premiums and discounts assigned to sectors within the equity market will change. U.S. Steel shares should be a beneficiary of this positive revaluation. Having said that, this is not a buy-and-hold forever equity, at least in my opinion, so when the winds of valuation change, and U.S. Steel shares are overloved, and overvalued, that will be the time to hit the eject button. We are not there yet, in my opinion.

Thank you for your readership. If you wish to get future public articles from me, please click the "Follow" button.

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Disclosure: I am/we are long X, AND SHORT SPY AS A MARKET HEDGE.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: Additional disclosure: Every investor's situation is different. Positions can change at any time without warning. Please do your own due diligence and consult with your financial advisor, if you have one, before making any investment decisions. The author is not acting in an investment adviser capacity. The author's opinions expressed herein address only select aspects of potential investment in securities of the companies mentioned and cannot be a substitute for comprehensive investment analysis. The author recommends that potential and existing investors conduct thorough investment research of their own, including detailed review of the companies' SEC filings. Any opinions or estimates constitute the author's best judgment as of the date of publication, and are subject to change without notice.

5/23/2018

Napco Security Technologies (NSSC) Sets New 1-Year High and Low at $12.28

Napco Security Technologies, Inc. (NASDAQ:NSSC) hit a new 52-week high and low during trading on Tuesday . The company traded as low as $12.28 and last traded at $12.00, with a volume of 1091 shares traded. The stock had previously closed at $12.15.

Separately, Canaccord Genuity restated a “buy” rating and set a $14.00 price objective on shares of Napco Security Technologies in a report on Monday, February 5th.

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The company has a current ratio of 5.76, a quick ratio of 2.77 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $221.79 million, a P/E ratio of 30.39 and a beta of 0.37.

Napco Security Technologies (NASDAQ:NSSC) last issued its quarterly earnings data on Monday, May 7th. The industrial products company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Napco Security Technologies had a net margin of 7.96% and a return on equity of 12.30%. The business had revenue of $22.20 million for the quarter.

In related news, insider Jorge Hevia sold 6,750 shares of the firm’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $11.77, for a total transaction of $79,447.50. Following the sale, the insider now directly owns 180,155 shares in the company, valued at $2,120,424.35. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 37.34% of the company’s stock.

A number of hedge funds have recently modified their holdings of NSSC. Dimensional Fund Advisors LP increased its stake in Napco Security Technologies by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 916,259 shares of the industrial products company’s stock valued at $8,888,000 after buying an additional 13,173 shares during the last quarter. K.J. Harrison & Partners Inc acquired a new stake in Napco Security Technologies in the 4th quarter valued at $176,000. Wells Fargo & Company MN increased its stake in Napco Security Technologies by 25.1% in the 4th quarter. Wells Fargo & Company MN now owns 200,580 shares of the industrial products company’s stock valued at $1,755,000 after buying an additional 40,242 shares during the last quarter. BlackRock Inc. increased its stake in Napco Security Technologies by 0.7% in the 4th quarter. BlackRock Inc. now owns 879,683 shares of the industrial products company’s stock valued at $7,697,000 after buying an additional 6,083 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Napco Security Technologies by 11.1% in the 4th quarter. Renaissance Technologies LLC now owns 283,400 shares of the industrial products company’s stock valued at $2,480,000 after buying an additional 28,325 shares during the last quarter. Hedge funds and other institutional investors own 30.72% of the company’s stock.

Napco Security Technologies Company Profile

Napco Security Technologies, Inc manufactures and sells security products and software worldwide. The company offers access control systems, door security products, intrusion and fire alarm systems, and video surveillance systems for commercial, residential, institutional, industrial, and governmental applications.

5/20/2018

Hot Cheap Stocks To Invest In 2018

tags:WEN,KSS,SIRI,IBM,EMR, Get to Florida and buy a house. Now.   I'm not kidding. If you wait any longer, you might miss this opportunity. And believe me, you don't want to miss it.   I've personally been buying real estate for years... But the opportunity isn't over. Not even close.   I know what you're thinking...   "Steve, real estate prices have skyrocketed since 2011... Can prices really keep climbing higher?"   The answer is yes. In fact, where I live in northern Florida, houses are downright cheap. And that makes this an opportunity you do not want to miss.   Let me explain...   The median home value in Orlando, Florida is around $161,000, according to Zillow.com. And the median home value in Jacksonville, Florida is $144,000.   I can't tell you that the median home in either of these places is the right home for you, but my point is that Florida real estate is still CHEAP. When I travel the world, I'm stunned by housing prices...

Hot Cheap Stocks To Invest In 2018: Wendy's/Arby's Group Inc.(WEN)

Advisors' Opinion:
  • [By Lisa Levin]

     

    Companies Reporting After The Bell Marriott International, Inc. (NASDAQ: MAR) is projected to post quarterly earnings at $1.22 per share on revenue of $5.72 billion. Electronic Arts Inc. (NASDAQ: EA) is estimated to post quarterly earnings at $1.04 per share on revenue of $5.68 billion. The Walt Disney Company (NYSE: DIS) is projected to post quarterly earnings at $1.68 per share on revenue of $14.05 billion. Papa John's International, Inc. (NASDAQ: PZZA) is expected to post quarterly earnings at $0.62 per share on revenue of $441.73 million. Jazz Pharmaceuticals plc (NASDAQ: JAZZ) is projected to post quarterly earnings at $2.77 per share on revenue of $434.87 million. Sun Life Financial Inc. (NYSE: SLF) is estimated to post quarterly earnings at $0.89 per share on revenue of $6.38 billion. LATAM Airlines Group S.A. (NYSE: LTM) is expected to post quarterly earnings at $0.16 per share on revenue of $2.70 billion. Liberty Global plc (NASDAQ: LBTYA) is projected to post quarterly earnings at $0.02 per share on revenue of $4.05 billion. TripAdvisor, Inc. (NASDAQ: TRIP) is expected to post quarterly earnings at $0.16 per share on revenue of $362.11 million. The Wendy's Company (NASDAQ: WEN) is projected to post quarterly earnings at $0.1 per share on revenue of $379.98 million. A-Mark Precious Metals, Inc. (NASDAQ: AMRK) is expected to post quarterly earnings at $0.06 per share on revenue of $1.69 billion. Monster Beverage Corporation (NASDAQ: MNST) is estimated to post quarterly earnings at $0.4 per share on revenue of $849.38 million. Convergys Corporation (NYSE: CVG) is expected to post quarterly earnings at $0.4 per share on revenue of $670.10 million. ScanSource, Inc. (NASDAQ: SCSC) is projected to post quarterly earnings at $0.7 per share on revenue of $875.91 million. KAR Auction Services, Inc. (NYSE: KAR) is expected to post quarterly earnings at $0.76 per share on revenue of $923.13
  • [By Logan Wallace]

    Wendy’s (NASDAQ:WEN) major shareholder Edward P. Garden sold 764,000 shares of the business’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $16.53, for a total value of $12,628,920.00. Following the completion of the sale, the insider now directly owns 240,365 shares of the company’s stock, valued at approximately $3,973,233.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

  • [By Jeremy Bowman]

    The chart below shows how McDonald's compares with some of its closest peers based on its valuation and expected growth rate.

    Company P/E Ratio 2-Year Expected EPS Growth Rate McDonald's (NYSE:MCD) 26.2 23.6% Starbucks (NASDAQ:SBUX) 26.2 27.3% Wendy's (NASDAQ:WEN) 21.8 58.1% Restaurant Brands International�(NYSE:QSR) 21.4 41.9% Yum! Brands�(NYSE:YUM) 23.2 29.7%

    Data source: Yahoo! Finance. EPS = earnings per share.

  • [By Shane Hupp]

    Wendy’s (NASDAQ:WEN)‘s stock had its “buy” rating reiterated by equities researchers at Argus in a research note issued to investors on Thursday. They currently have a $16.34 price target on the restaurant operator’s stock, down from their prior price target of $19.00.

  • [By ]

    In the Lightning Round, Cramer was bullish on Spirit AeroSystems (SPR) , Take-Two Interactive (TTWO) , Dunkin Brands (DNKN) and Wendy's (WEN) .

    Cramer was bearish on Bristol-Myers Squibb (BMY) and Univar (UNVR) .

  • [By ]

    Throughout its history, Starbucks has mostly had a company-owned model for its retail locations, a strategy that is at odds with a trend of activist investors pushing fast food, restaurant and coffee companies to franchise locations out to raise cash for stock buybacks and debt reduction. In recent years, activists have targeted Jamba Juice (JMBA) , Potbelly (PBPB) , Jack in the Box (JACK) , Wendys Co. (WEN) , McDonald's (MCD) and elsewhere. In addition, Starbucks has a one-share, one-vote structure, which can make it vulnerable to an activist investor seeking to elect dissident director candidates as it pursued the strategy.

Hot Cheap Stocks To Invest In 2018: Kohl's Corporation(KSS)

Advisors' Opinion:
  • [By ]

    The reluctance of millennials to spend their tax cuts could hurt the stock prices of many consumer companies. Shares of department stores such as Kohl's (KSS) and an electronics retailer like Best Buy (BBY) have run up this year on expectations of consumers shopping till they drop this spring/summer. Considering there are more than 83 million millennials in the U.S., that's a big pool of humans letting down some of the country's biggest companies. 

  • [By Jeremy Bowman]

    A lot has changed since then, however. J.C. Penney badly underperformed its own comparable sales target in the second half of 2016, as comparable sales fell instead of hitting the 3-4% mark the company had projected. Its peers continued to struggle -- Macy's�(NYSE:M),�Kohl's�(NYSE:KSS), and�Nordstrom�(NYSE:JWN) all reported declining comps in the fourth quarter, and Macy's said last year it would close 100 stores.

  • [By ]

    Macy's (M) was downgraded by Morgan Stanley, which is hurting shares of Kohl's (KSS) , according to TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer.

  • [By Shane Hupp]

    Wall Street brokerages expect Kohl’s (NYSE:KSS) to post earnings per share (EPS) of $0.49 for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Kohl’s’ earnings. The lowest EPS estimate is $0.39 and the highest is $0.63. Kohl’s posted earnings of $0.39 per share in the same quarter last year, which would suggest a positive year over year growth rate of 25.6%. The company is expected to report its next earnings report before the market opens on Tuesday, May 22nd.

  • [By ]

    Smith added that the Best Buy-Amazon alliance could be positive, likening it to Kohl's Corp.'s (KSS) deal with Amazon last year, in which Kohl's featured Amazon's Echo and other smart-home products in its stores. It also allowed Amazon returns at certain locations.

  • [By Jeremy Bowman]

    The relationship between the P/E ratio and the dividend yield is important to understand here. The lower a company's valuation is, the more valuable the dividend becomes as the dividend yield increases. For instance, with a P/E ratio of about 12,�Kohl's�(NYSE: KSS) could be considered a value stock, and its�dividend yields a respectable 3.9%. Its payout ratio -- the percentage of earnings that go to its dividend or dividend per share divided by earnings per share -- is also modest at 48%. Eighty percent is considered the maximum that dividend stocks should aim for in order to leave adequate cash flow for other needs.

Hot Cheap Stocks To Invest In 2018: Sirius XM Radio Inc.(SIRI)

Advisors' Opinion:
  • [By Rick Munarriz]

    There are two ways to buy into the country's lone provider of satellite radio, and one Wall Street pro thinks you should consider the road less traveled. Buckingham analyst Matthew Harrigan is downgrading shares of Sirius XM Holdings (NASDAQ:SIRI) on Monday, lowering his rating from buy to neutral.�

  • [By Jon C. Ogg]

    Sirius XM Holdings Inc. (NASDAQ: SIRI) is a company that thrives on of new car sales. If you have had satellite radio and are not solely reliant on what you get for music in streaming or your library, then chances are pretty good that you won’t want to go back to just having old-fashioned FM/AM radio.

  • [By Sean Williams]

    The VISE acronym stands for:

    Visa (NYSE:V) Intuitive Surgical (NASDAQ:ISRG) Sirius XM Holdings (NASDAQ:SIRI) Electronic Arts (NASDAQ:EA)

    Each of these four companies brings clear-cut competitive advantages to the table that should allow it to handily outperform the broader market (and the FANG stocks).

  • [By Rick Munarriz]

    Sirius XM Holdings (NASDAQ:SIRI)�is gearing up for a big earnings announcement this week. The satellite radio provider reports first-quarter results before Wednesday's market open, and a lot is riding on its financial performance. Sirius XM has been one of the market's biggest winners since bottoming out at $0.05 -- yes, a nickel -- in 2009. The stock is now a 127-bagger, and it hit a new 12-year high just last month.

Hot Cheap Stocks To Invest In 2018: International Business Machines Corporation(IBM)

Advisors' Opinion:
  • [By Benzinga News Desk]

    The border between financial institutions and fintech startups is similar to the precise nature of how prescription drugs target proteins, IBM (NYSE: IBM) Chief Technology Officer Tom Eck said Tuesday at the 2018 Benzinga Global Fintech Awards: Link

  • [By Paul Ausick]

    International Business Machines Corp. (NYSE: IBM) traded up 3.16% at $169.02. The stock’s 52-week range is $139.13 to $182.79. Volume was about 60% above the daily average of around 5.3 million. The company had no specific news, but hopes among investors are higher for the company Q4 report due out after markets close Thursday.

  • [By ]

    Earnings will once again dominate the early portion of the trading day, with first quarter reports from Dow components in Action Alerts PLUS holding UnitedHealth (UNH) , Johnson & Johnson (JNJ)  , Goldman Sachs (GS) and IBM Corp. (IBM) . 

Hot Cheap Stocks To Invest In 2018: Emerson Electric Company(EMR)

Advisors' Opinion:
  • [By Stephan Byrd]

    Here are some of the headlines that may have effected Accern Sentiment Analysis’s analysis:

    Get Emerson Electric alerts: Stocks This Week: Wells Fargo, Emerson Electric and CSX (finance.yahoo.com) Emerson Electric (EMR) & Philips (PHG) Financial Review (americanbankingnews.com) Emerson Electric (EMR) Given Consensus Rating of “Hold” by Brokerages (americanbankingnews.com) Is It Time To Buy Emerson Electric Co (NYSE:EMR)? (finance.yahoo.com) Emerson Electric: An Autonomous Future (seekingalpha.com)

    EMR has been the topic of a number of research reports. Zacks Investment Research raised shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Thursday, February 8th. UBS initiated coverage on shares of Emerson Electric in a research note on Monday, January 22nd. They issued a “buy” rating and a $73.26 price objective on the stock. Cowen reissued a “buy” rating and issued a $78.00 price objective on shares of Emerson Electric in a research note on Wednesday, April 18th. Stifel Nicolaus increased their price objective on shares of Emerson Electric from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 3rd. Finally, Berenberg Bank raised shares of Emerson Electric from a “sell” rating to a “hold” rating and set a $69.00 price objective on the stock in a research note on Tuesday, April 24th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Emerson Electric has a consensus rating of “Hold” and a consensus price target of $73.00.

  • [By Lisa Levin]

    Analysts at Berenberg upgraded Emerson Electric Co. (NYSE: EMR) from Sell to Hold.

    Emerson Electric shares fell 0.43 percent to close at $69.90 on Monday.

  • [By Benzinga News Desk]

    Former President George H.W. Bush has been hospitalized in Houston with an infection, just after attending the funeral of his wife, Barbara, a spokesman said Monday: Link

    ECONOMIC DATA Redbook Reports US Retail Sales During First 2 Weeks Of Apr. Up 0.3% MoM, Up 2.8% YoY USA S&P/CaseShiller House Price Index (MoM) for Feb Up 0.7% MoM New home sales report for March will be released at 10:00 a.m. ET. The Conference Board’s consumer sentiment index for April is schedule for release at 10:00 a.m. ET. The Richmond Fed manufacturing index for April will be released at 10:00 a.m. ET. The Treasury is set to auction 4-and 52-week bills at 11:30 a.m. ET. The Treasury will auction 2-year notes at 1:00 p.m. ET. ANALYST RATINGS Leerink upgraded Cardinal Health (NYSE: CAH) from Market Perform to Outperform Berenberg upgraded Emerson Electric (NYSE: EMR) from Sell to Hold Mizuho downgraded Skyworks (NASDAQ: SWKS) from Buy to Neutral BMO downgraded Texas Roadhouse (NASDAQ: TXRH) from Outperform to Market Perform

    This is a tool used by the Benzinga News Desk each trading day — it's a look at everything happening in the market, in five minutes. To get the full version of this note every morning, click here.

  • [By Logan Wallace]

    D.A. Davidson & CO. lifted its position in shares of Emerson Electric (NYSE:EMR) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 574,584 shares of the industrial products company’s stock after buying an additional 7,640 shares during the period. Emerson Electric makes up about 0.8% of D.A. Davidson & CO.’s holdings, making the stock its 25th biggest holding. D.A. Davidson & CO.’s holdings in Emerson Electric were worth $39,244,000 at the end of the most recent reporting period.