|By PR Newswire||
|January 3, 2014 09:30 AM EST||
CHICAGO, Jan. 3, 2014 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the Western Digital Corp. (Nasdaq:WDC-Free Report), Seagate Technology (Nasdaq:STX-Free Report), Apple (Nasdaq:AAPL-Free Report), Google (Nasdaq:GOOG-Free Report) and Cracker Barrel Old Country Store, Inc. (Nasdaq:CBRL-Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Thursday's Analyst Blog:
Western Digital Upped to Strong Buy
On Jan 1, Zacks Investment Research upgraded Western Digital Corp. (Nasdaq:WDC-Free Report) to a Zacks Rank #1 (Strong Buy).The upgrade came on the back of positive estimate revisions over the last 60 days. WDC's shares are up 81.4% year to date while it has an outstanding one-year return of 104.9%. WDC also delivered positive earnings surprises in the last four quarters with an average beat of 11.4%.
Why the Upgrade?
Over the last 60 days, WDC witnessed two upward revisions for the current quarter as well as for fiscal 2014. The Zacks Consensus Estimate for both the current quarter and full year went up by a cent to $2.07 and $7.99, respectively over the same period of time.
It is also worth noting that the Zacks Consensus Estimate for WDC's second quarter revenues and earnings are within management's guided range. WDC guided revenues between $3.775 billion and $3.875 billion, and the Zacks Consensus Estimate is pegged at $3.85 billion. Non-GAAP earnings per share are expected between $1.95 and $2.10, and the Zacks Consensus Estimate is $2.07.
Some of the current buoyancy surrounding the shares is related to the company's business shift toward non-PC applications, secular growth of digital data and growing exposure to the small and medium business space. Additionally, the company has been expanding its presence in the SSD storage market, which is expected to place WDC in a better position compared to its peers such as Seagate Technology (Nasdaq:STX-Free Report) and Fusion-io, Inc.
Moreover, the company has also expanded its My Cloud solutions with My Cloud EX4, a broader portfolio of network attached storage (NAS) hard drives. My Cloud EX4 can be accessed through Apple's (Nasdaq:AAPL-Free Report) iOS and Google's (Nasdaq:GOOG-Free Report) operating systems, thus enabling users to access their files via smartphones or tablets.
In addition, the company introduced WD Black2 dual drive. The new hybrid dual drive storage solution will help WDC to meet growing business needs with flexibility and offer improved user experience.
Also, Western Digital is the largest HDD manufacturer in the U.S. Western Digital's market share in the total addressable market (TAM) of HDD increased from 44.9% in the previous quarter to 45.1%. These factors culminated in the Zacks Rank upgrade on WDC shares.
Cracker Barrel Rejects Biglari Offer
Full-service restaurant, Cracker Barrel Old Country Store, Inc. (Nasdaq:CBRL-Free Report), has turned down the buyout offer from Sardar Biglari, who owns a 20% stake in Cracker Barrel. The restaurant chain reportedly intends to carry on its business and believes that the existing business strategy will optimize shareholders' value. Biglari's recent non-binding proposal for a $20 special dividend from the company was also rejected.
Biglari offered to buy the company citing an inefficient management team and lower-than-expected earnings. However, the bid was rejected by the board at the annual meeting.
According to media reports, Cracker Barrel decided to pull back some "Duck Dynasty" items from its shelves after actor, Phil Robertson, made some anti-gay remarks. However, the company reinstated them after 24 hours. Biglari pointed out this incident as a case of serious mismanagement on the part of the company.
This is not the first time when Sardar Biglari has showed interest in the company; in fact, he has made numerous attempts to take over Cracker Barrel, only to be voted down by shareholders each time.
Although Biglari asserts that the earnings of Cracker Barrel are lower than expected, CBRL posted strong fiscal first-quarter 2014 results in Nov 2013. Adjusted earnings (excluding proxy contest expenses) of $1.22 per share increased 13.0% year over year and also beat the Zacks Consensus Estimate of $1.13 by 8.0%. Top-line growth and lower interest expenses boosted earnings in the quarter.
The Zacks Rank #2 (Buy) company reaffirmed its guidance for fiscal 2014. CBRL expects earnings to be between earnings per diluted share of between $5.60 and $5.80. It expects revenues in the range of $2.70 billion to $2.75 billion for fiscal 2014. The guidance takes into account seven or eight expected store openings and increases in comparable store restaurant sales and retail sales in a band of 2.0% to 3.0%.
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today.
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
SOURCE Zacks Investment Research, Inc.
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Sep. 27, 2016 08:15 PM EDT Reads: 2,217
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, will compare the Jevons Paradox to modern-day enterprise IT, e...
Sep. 27, 2016 07:30 PM EDT Reads: 2,140
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
Sep. 27, 2016 07:15 PM EDT Reads: 426
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Sep. 27, 2016 07:00 PM EDT Reads: 2,849
Whether they’re located in a public, private, or hybrid cloud environment, cloud technologies are constantly evolving. While the innovation is exciting, the end mission of delivering business value and rapidly producing incremental product features is paramount. In his session at @DevOpsSummit at 19th Cloud Expo, Kiran Chitturi, CTO Architect at Sungard AS, will discuss DevOps culture, its evolution of frameworks and technologies, and how it is achieving maturity. He will also cover various st...
Sep. 27, 2016 06:45 PM EDT Reads: 1,810
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
Sep. 27, 2016 06:30 PM EDT Reads: 2,192
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Sep. 27, 2016 06:30 PM EDT Reads: 3,562
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Sep. 27, 2016 06:15 PM EDT Reads: 381
SYS-CON Events announced today that Secure Channels will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The bedrock of Secure Channels Technology is a uniquely modified and enhanced process based on superencipherment. Superencipherment is the process of encrypting an already encrypted message one or more times, either using the same or a different algorithm.
Sep. 27, 2016 06:00 PM EDT Reads: 1,696
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
Sep. 27, 2016 05:45 PM EDT Reads: 1,658
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, provided tips on how to be successful in large scale machine learning...
Sep. 27, 2016 05:30 PM EDT Reads: 2,013
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Sep. 27, 2016 05:15 PM EDT Reads: 2,765
If you had a chance to enter on the ground level of the largest e-commerce market in the world – would you? China is the world’s most populated country with the second largest economy and the world’s fastest growing market. It is estimated that by 2018 the Chinese market will be reaching over $30 billion in gaming revenue alone. Admittedly for a foreign company, doing business in China can be challenging. Often changing laws, administrative regulations and the often inscrutable Chinese Interne...
Sep. 27, 2016 05:15 PM EDT Reads: 301
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
Sep. 27, 2016 05:00 PM EDT Reads: 1,596
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
Sep. 27, 2016 04:00 PM EDT Reads: 2,659