|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.
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Aug. 27, 2016 03:15 PM EDT Reads: 707
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Aug. 27, 2016 02:45 PM EDT Reads: 3,438
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Aug. 27, 2016 12:45 PM EDT Reads: 2,332
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Aug. 27, 2016 12:30 PM EDT Reads: 3,609
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Aug. 27, 2016 12:00 PM EDT Reads: 482
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Aug. 27, 2016 12:00 PM EDT Reads: 623
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
Aug. 27, 2016 12:00 PM EDT Reads: 628
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Aug. 27, 2016 11:00 AM EDT Reads: 3,964
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Aug. 27, 2016 11:00 AM EDT Reads: 2,351
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
Aug. 27, 2016 10:30 AM EDT Reads: 1,959
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Aug. 27, 2016 10:15 AM EDT Reads: 1,893
SYS-CON Events announced today that StarNet Communications 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. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Aug. 27, 2016 08:45 AM EDT Reads: 761
SYS-CON Events announced today that Hitrons Solutions 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. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
Aug. 27, 2016 08:00 AM EDT Reads: 609
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
Aug. 27, 2016 07:45 AM EDT Reads: 793
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Aug. 27, 2016 07:45 AM EDT Reads: 673