Jefferies Group (JEF): Bank of America downgrades and lowers target to $15 after Q1 miss.
Apple (AAPL): Bank of America raises Q2 estimates to $1.16 from $1.07 after Asian channel checks reveal possible PC Unit upside. (Same call as another firm yesterday) Near-term stock upside, however, could be limited by recent rally. Piper, meanwhile, says that that it too believes that there is upside to consensus estimates of $1.07/$6.95 and insists Mac numbers will be key. Reiterates Buy.
Haliburton (HAL): Jefferies says HAL’s outlook “remains excellent” after solid Q1.
NetFlix (NFLX): Jefferies cuts target to $31 from $32, citing concerns that continued investment in internet-delivered content will squeeze margins. Reiterates Hold. Piper maintains BUY and target of $45, but removes NFLX from “Alpha List.” Piper believes NFLX will gain share and benefit from Blu-Ray cycle, but with lower margins.
Texas Instruments (TXN): Citi notes that while TXN’s Q1 results were in-line, Q2 guidance was below consensus due to high-end wireless handsets. Expects estimates will come down and for TXN to continue to lose share into 2009.
Baidu.com (BIDU): Susquehanna sees upside to Q1 guidance and street estimates. Expects non-GAAP EPS of 69c and revenue of $78.4 million.
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