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JPMorgan Chase & Co. (NYSE:JPM): Credit Suisse lowered JPMorgan estimates following news that the share buyback has been placed on hold. Shares remain Outperform rated.
Expedia Inc. (NASDAQ:EXPE): Lazard Capital believes Expedia (NASDAQ:EXPE) may be testing an agency product as part of a broader shift to integrate agency options into its hotel segment. The firm says Expedia’s merchant hotel model has been seen as a disadvantage versus Priceline.com (NASDAQ:PCLN), so a new product may help close the gap between the two companies.
Chesapeake Energy Corporation (NYSE:CHK): Oppenheimer notes that Chesapeake is accelerating its liquids production growth and asset monetization, and the firm thinks that the company’s net asset value, after pending asset sales, is above its current share price. The firm maintains a $28 target and Outperform rating on the stock.
Onyx Pharmaceuticals Inc. (NASDAQ:ONXX): JPMorgan believes the Nexavar trial failure announced this morning should not have a significant adverse impact on Onyx Pharmaceuticals’ valuation since expectations for the study were low. The firm said its thesis on Onyx remains unchanged and it recommends buying the stock on any greater than expected sell-off.
EMC Corporation (NYSE:EMC): Goldman said EMC’s investor day increased its confidence that the company will be able to innovate, fend off emerging technology competition, and gain share. The firm views the sell-off in shares as a buying opportunity and reiterates its Buy rating and $33 price target.
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