Thursday, November 30, 2006

Pre-Market - Thursday November 30th

Indication on RMBS is that news released last night about PS3 inclusion was already well known. Stock continues to go up anyway. Not making a call, just letting you know the situation. Stock now trading at $22.68.

Jefferies notes that the Internet and New Media segment has had a strong performance in the last few weeks, with many stocks approaching their price targets, driven by early signs of positive seasonality and good 3Q results. The firm continues to see upside in Aquantive (AQNT 23.38), Google (GOOG 484.65) and Yahoo (YHOO 27.04); they are buyers of VCLK, NFLX, RATE, VPRT and SFLY on pullback.

Yet another AAPL target increase - Needham raises their tgt on AAPL to $115 from $90 based on a more realistic reading of the switch rates among Windows users that should ensue from the Mac's forthcoming ability to run Windows.

Cautious on semis - Susquehanna say with semi equipment stocks continuing to perform relatively well despite negative data flow, they review their near-term cautious stance on the group (based on deteriorating industry fundamentals). Firm notes that inventory issues still linger across the semiconductor landscape, with the problem particularly acute in microprocessors (where the INTC/AMD price war continues), and analog (where the handset and high-performance analog markets seem poised to continue to disappoint relative to outsize growth expectations). They expect this capacity overhang to ripple quickly through the supply chain in the form of more severe wafer start reductions in C4Q06/C1Q07 at foundries such as TSM and UMC, and believe that plans to idle tools or even entire production lines over the year-end holiday season, as well as the Lunar New Year, are already in place. Firm notes that NVLS is their favorite short ahead of mid-quarter update on Dec. 4.

So far same store sales are disappointing as a whole.

Courtesy of

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