Como se combate o populismo? "Com eleições", responde Fukuyama

[Alfred E. Neuman]

Acções da Apple sobem 16% após analistas reverem preço-alvo
22-11-2004 18:49 por Canal de Negócios

Acções da Apple sobem 16% após analistas reverem preço-alvo
As acções da fabricante de «software» Apple Computer alcançaram uma valorização máxima de 16% na sessão de hoje, para 64 dólares (49 euros) depois de um analista da Piper Jaffray ter aumentado o preço-alvo das acções da companhia em 92%, para 100 dólares (76,7 euros), citando um inquérito que mostra que o leitor de música digital «iPod» está a aumentar as vendas de outros produtos da Apple.

No inquérito efectuado pela Jaffray, que contemplou 200 usuários de «iPod», 13% dos que usavam antigamente outras marcas de computadores pessoais disseram que já compraram um «Macintosh» ou que planeavam comprar um dentro de um ano, escreveu hoje o analista Gene Munster numa nota aos clientes.

O mesmo responsável aumentou o preço-alvo que mantinha há um ano para as acções, de 52 dólares (39,9 euros) para 100 dólares.

Os fornecimentos de «iPod» aumentaram quase cinco vezes no trimestre que terminou dia 25 de Setembro para 2,02 milhões de dólares (1,5 milhões de euros), ajudando a Apple a mais do que duplicar os lucros para os 106 milhões de dólares (81,3 milhões de euros). Dos 200 inquiridos, 199 disseram que estavam satisfeitos com o produto, revelou Munster na entrevista.

Dos 21 analistas que seguem a Apple, 13 têm recomendações de «compra», oito de «manter» e nove de «venda», segundo dados da Bloomberg. Até hoje nenhum tinha preços-alvo acima de 61 dólares (46,8 euros).

As acções da Apple seguiam a subir 11,22% para os 61,36 dólares (47 euros).

[Alfred E. Neuman]

U.S. futures under early pressure
Focus stocks: ORCL, KKD, GOOG

By Emily Church, CBS.MarketWatch.com
Last Update: 8:23 AM ET Nov. 22, 2004


LONDON (CBS.MW) - U.S. stock futures were under pressure on Monday as the weaker dollar and rising crude price exacted a price on global stock markets overnight.

Japan's benchmark Nikkei index ended down 2.1 percent on the day; European markets were also lower, with the key German DAX-30 and FTSE-100 each down close to 1 percent.

Airline stocks were among the featured decliners for the European markets - reflecting the concerns over fuel costs with the crude futures holding back above $49 a barrel. British Airways (BAB: news, chart, profile) was down 2.2 percent in mid-day London day.

On the currency front - the second major focus for the markets - the euro held above $1.30, near a record high against the dollar and the yen was stronger as well. The currency markets saw little emerge from a gathering of finance ministers and central bankers in Berlin over the weekend that could change the trend for the weaker dollar, analysts said Monday.

"If we see stocks really crack then this could undermine the dollar still further. But, even if stocks do not capitulate we would still look for the dollar to slide back," Bear Stearns currency analysts in London said.

The Dow industrials futures were down 36 points at 10,442 ahead of 8:30 a.m. Eastern. The Nasdaq 100s and S&P 500 futures were also lower. The S&P 500 tracker (SPY: news, chart, profile) was down 0.4 percent.

A smattering of deals surfaced, in keeping with the improved pace in M&A since the Nov. 2 elections surfaced. Shares of Cambridge Antibody Technology (CATG: news, chart, profile) was up 9 percent after AstraZeneca (AZN: news, chart, profile) announced it would invest $139 million for a 19.9 percent stake. See story

Pulitzer, Inc. (PTZ: news, chart, profile) said in a statement Sunday it has hired Goldman Sachs as a financial adviser and is exploring a range of strategic alternatives, including a possible sale of the company. The shares weren't active in London, dealers said.

Oracle action

Shares in Oracle Corp. (ORCL: news, chart, profile) and target PeopleSoft (PSFT: news, chart, profile) were each edging lower in the speculative pre-open trade as dealers shift through the latest turn in the takeover battle.

PSFT was down 2 cents, or 0.1 percent, at $23.15. ORCL was down 9 cents, or 0.7 percent, at $12.66.

A majority of PeopleSoft holders have backed the Oracle offer at $24 a share, but PeopleSoft's board held to its view Saturday that the offer is too low.

The next likely event is a hearing on Wednesday; Oracle has taken PeopleSoft to court in Delaware in a bid to dismantle a poison pill, but few expect success. A proxy battle is the anticipated outcome. See story

Focus stocks

Internet search stock Google (GOOG: news, chart, profile) will remain a focus as more shares come into the market. A regulatory filing Friday revealed founders intend to sell about 7.2 million shares each as part of an 18-month diversification plan. See more

"While it may be understandable for individuals to want to diversify their personal wealth, we believe that Google investors and potential investors will be dismayed by the level of planned selling so soon after the IPO," UBS told clients.

Krispy Kreme Doughnuts (KKD: news, chart, profile) posted a net loss of $3 million for its October quarter. The donut maker also said it wouldn't project its results for the fourth quarter.

Bayer (BAY: news, chart, profile) said it will pay Zilip-Pharma up to $100 million in milestone payments in a license deal for Kogenate, a hemophilia treating product.

Shares of Rigel Pharmaceuticals (RIGL: news, chart, profile) dropped over 13 percent to $22. Overnight, it said its Phase I/II study of oral hepatitus C inhibitor R803 showed a decline in viral levels that was not statistically significant or clinically meaningful.

Shares of Isonics Corp.(ISON: news, chart, profile) rallied 17 percent to $4.43 after the maker of explosive detection devices said its NeutroTest product continues to meet progress milestones. The company added that none of its officers had sold stock in recent months.

Mylan Laboratories (MYL: news, chart, profile), responding to the latest in a series of letters from investor Carl Icahn, reasserted its position that acquiring King Pharmaceuticals (KG: news, chart, profile) is in the long-term interest of the generic drugmaker and its shareholders. Icahn, Mylan's largest stockholder, offered to buy the company last Friday.

Broker calls

Broker PiperJaffray overnight upped its price target on Apple Computer Inc. (AAPL: news, chart, profile) stock from $52 to $100 - close to double the stock's price on Friday - citing findings from its own survey of iPod users. The $100 price target means the stock would trade at 37 times the broker's calendar 2006 earnings and cash estimate per share. "While this multiple is a premium to the comp group, we believe it is warranted given the growth potential of the iPod and its carryover to the core Mac business," the broker said. AAPL was up 3.6 percent at $57.17 in the pre-open.

However, Merrill Lynch was more guarded on the PC market. The broker said it expects 2005 PC unit growth to slow to 9 percent from growth of 12 percent in 2004. "Our forecasts are based on a GDP regression as well as replacement cycle analysis that suggests new placements will decline the next two years," Merrill argued.

J.P. Morgan Securities cut its rating on Swiss pharmaceuticals group Novartis (NVS: news, chart, profile) to neutral from overweight. "With margin improvement and 2005 earnings acceleration now priced into the stock, the valuation leaves little room for negative news at a time when the equity risk premium for the sector is rising," the broker concluded.

J.P. Morgan Securities also overnight said it removed German software maker SAP (SAP: news, chart, profile) from its 'Analyst Focus List.' The broker told clients it expected "the twin headwinds of dollar devaluation and cautionary margin comments from management will weigh on the shares in the short term."