J.C. Penney (NYSE:JCP): Wells Fargo says that J.C. Penney’s second-quarter results are “relatively uneventful” and keeps an Underperform rating on the stock. The firm says the retailer is selling product at lower margins than a year ago while being unable to drive traffic or conversion. It thinks that J.C. Penney may need additional liquidity next year and keeps a $10-$11 price target range on the stock.
Qihoo 360 (NYSE:QIHU): 86 Research says that Qihoo’s entry into the mobile gaming market will generate $50 million in gaming revenues in 2013, up from $25 million, and expects the company to report second- and third-quarter upside to forecasts.
Caterpillar (NYSE:CAT): Wells Fargo says that Caterpillar’s dealer statistics in July remained relatively weak compared to 2012 and compared to June, with a slight deterioration in Machines and in Power Systems. The firm views the company’s sales report as a modest negative for Caterpillar and keeps a Market Perform rating on the stock.
Dick’s Sporting Goods (NYSE:DKS): Buckingham would buy Dicks’s Sporting Goods on its lowered guidance and says that fundamentals are still intact. The shares are Buy rated with a $66 price target.