AllThingsD » Wedbush Morgan

GameStop: Wedbush Chops Numbers on June Game Sales

Tiernan Ray — Mon, 20 Jul 2009 17:50:10 +0000

The threat from Best Buy (BBY) and other retailers to GameStop’s (GME) video game sales is no joke, writes Wedbush Morgan analyst Michael Pachter in a note this morning in which he lowered estimates for GameStop. As Pachter notes, June video game sales were a big disappointment, falling 31 percent, year over year, according to an NPD report last Thursday.

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Salesforce.com: The Stock Is Too High, Wedbush Says

Eric Savitz — Thu, 09 Apr 2009 19:25:32 +0000

Take profits in Salesforce.com (CRM), Wedbush Morgan analyst Michael Nemeroff advises.

Nemeroff this morning cut his rating on CRM to Sell from Hold, noting that the shares at last night’s close of $37.38 were more than $10 above his $27 target price. His view is that the company’s small and medium-sized customers “could continue to be pressured by negative economic headwinds and that subscriber attrition at existing larger customers could continue to increase over the next 1-3 years due to shelf-ware reductions from multi-year agreements coming up for renewal.”

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Netflix: Wedbush Cuts Estimates, Sees Little Impact From Glitch

Tiernan Ray — Tue, 19 Aug 2008 15:35:16 +0000

Here’s the follow-up to last Friday’s article reporting that Netflix (NFLX), after experiencing a technical difficulty that prevented sending out DVDs for several days, said it would refund 15 percent of monthly subscription fees to a subset of customers. Wedbush Morgan analyst Michael Pachter lowered estimates for the company this morning, while maintaining a “Buy” rating on its stock and writing that “Netflix is positioned for dramatic EPS growth as streaming adoption increases.”

There’s still no official printed notice from Netflix. You can see the company’s comments in an interview Bloomberg conducted on Friday.

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Will Salesforce Beat and Raise? The Eternal Question.

Tiernan Ray — Mon, 18 Aug 2008 14:52:25 +0000

This Wednesday, Aug. 20, Salesforce.com (CRM), which vends a customer relations management tool as a Web-based application, is expected to report financial results for the July-ending second quarter, after the bell. Two analysts take divergent approaches in their outlook for Salesforce in reports this morning.

Wedbush Morgan’s Ariel Sokol’s note is a model of the kind of balancing act you do if you can’t stand Salesforce’s high P/E (185x based on this year’s projected earnings), but you kind-of want to own the stock. Explaining why investors shouldn’t buy the stock now, Sokol writes, “Chatter that Salesforce’s Q2 closed weaker than expected could continue to be a headwind until the results are released, although … we would be surprised if Q2 results came in below expectations.”

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