Activision Blizzard, Inc. (NASDAQ:ATVI) has been added to Credit Suisse’s Focus List based due to valuation, high operating margins, and strong development talent. Shares have an Outperform rating and a $16 price target.
Facebook, Inc. (NASDAQ:FB) reported that mobile ads made up 14 percent of its ad revenue during Q3, and it introduced a number of new mobile ad formats, causing RBC Capital to think that the company has taken a significant step towards validating its long-term thesis. The firm keeps its Outperform rating on the stock.
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Cisco Systems, Inc. (NASDAQ:CSCO): According to Piper Jaffray, macro concerns are priced into Cisco shares currently, and the firm says that it would be a buyer of the stock into the quarter. The firm sees limited downside from current levels, and it keeps its Overweight rating on the stock but reduces its price target to $22 from $23 on the stock.
Norfolk Southern Corp. (NYSE:NSC) stated that its Q4 export coal volumes will probably be similar to September’s volumes, and RBC Capital believes that the company will report “tough” Q4 results. The firm keeps its Outperform rating but reduces its price target to $81 from $91 on the stock.
Owens Corning (NYSE:OC) revised adjusted EBIT expectation for the year to reflect near-term weakness in Roofing demand, higher curtailment, and start-up costs in Composites along with softer growth in global industrial production. Also, the company will benefit from a recovering U.S. housing market of about 750,000 starts. Weaker demand and further production curtailments to reach inventory goals have caused reduced margin expectations for the Composites business in Q4. As previously announced, the company is taking actions in this segment as a means to balance supply and to transform this operation into a global network of low-delivered-cost assets. The company believes that the actions will optimize its global Composites manufacturing network to yield about $60 million of cost and productivity improvements in a modest growth environment for next year.
Investing Insights: Facebook Earnings: Fuels Profits, Stock Pops 15%.