Sterling Investment Services for all your stock and options trading needs. Stock Tips

Stock and Option Trading Ideas
 

Search

Stock & Bonds Investments Advice

 

Market Data and Free Tools

Markets Overview
Market Momentum
NASDAQ
Commodities
52 Week Highs
52 Week Lows
Volume Leaders
Price Advances
Price Declines
Percent Advances
Percent Declines

Symbol Lookup
Custom Quotes
Custom Portfolio





PRIME STOCK NEWSLETTER FOR October 28th, 2010

(If you do not see today's edition, please hit the refresh button)

Position Statement: In our Prime Recommendation Letter we attempt to identify the recommendation with the highest probability of moving higher.  We recommend that stop orders be placed at the time of purchase,  and once the position has moved profitable we recommend a stop be placed a minimum of $0.375 above the purchase price and moved higher as the position moves higher.

Today's Comments: The overall market finished Wednesday lower in a relatively broad based move that saw the majority of the sector indices I track move lower on the day as well. There was weakness in the Chemicals, Consumer, Commodities, Cyclicals, Pharmaceuticals, Healthcare, Retailers, Gold/Silver, Transports, Natural Resources, and Telecom indices. There was strength in the High Tech, Airlines, and Biotech indices. The Banking indices were mixed. Oil was lower by $0.61 to $81.94 per barrel, and Gold was lower by $16.00 to $1,322.60 per ounce.



Recommendation: Buy

Altera Corp. 'ALTR'

Company: Altera Corp. Symbol: 'ALTR'

Closing Price: $31.04

Web: www.altera.com

YH: $31.20 YL: $19.23 EPS: 2.12 P/E: 15

Shares Outstanding: 313 Million

Forecasted EPS:$2.47 Market Cap.: $9.8 Billion
Dividend: $0.24 Yield: 0.80% Aver. Daily Trading Volume: 9.8 Million Shares  
Price Targets:  $32.29 and then $33.37 Downside Stop:  $30.23
Options Rec.: Nov 30 Calls @ $1.65/contract Options Symbol: ALTR K 30

Additional information on Altera Corp. 'ALTR' can be found (here)

Company Description: Altera Corporation designs, manufactures, and markets programmable logic devices (PLD), HardCopy application-specific integrated circuit (ASIC) devices, pre-defined design building blocks, and associated development tools. Its PLDs consist of field-programmable gate arrays (FPGA) and complex programmable logic devices (CPLD), which are semiconductor integrated circuits manufactured as standard chips that can be programmed to perform logic functions in electronic systems; and HardCopy structured ASIC devices that enable customers to transition from a high-density FPGA to a low-cost non-programmable implementation of design for volume production. The company’s products primarily include Stratix III and Stratix IV high-end, system-level FPGAs; Arria and Arria II GX mid-range, transceiver-equipped FPGAs; Cyclone III and Cyclone IV low-cost FPGAs; MAX II CPLDs; and HardCopy ASICs. It also offers intellectual property cores that are pre-verified building blocks that execute system-level functions in their PLD design; and development tools consisting primarily of the Quartus II software for design entry, design compilation, design verification, and device programming. Altera Corporation serves customers primarily in the telecom and wireless, industrial automation, military and auto, networking, and computer and storage sectors. The company markets its products through a network of distributors, independent sales representatives, and direct sales personnel. It has operations in North America, the Asia Pacific, Europe, and Japan. The company was founded in 1983 and is headquartered in San Jose, California.

Chart for Mosaic Company

Chart updates daily

Recent News: 10/26 ZTE inks $3B supply deal with 5 chipmakers at bizjournals.com (Tue, Oct 26)
  10/19 Chipmaker Altera quarterly net beats Street at Reuters (Tue, Oct 19)
  10/18 Altera: RBC Downgrades at Barrons.com (Mon, Oct 18)

A full list of the news headlines for Altera Corp. 'ALTR' can be found (here)

Our Analysis: The shares of Altera Corp. 'ALTR' set a new yearly closing high yesterday on heavier than normal trading volume. In the process they completed a cup pattern with a measured move to our initial price target of $32.29/share. On a slightly longer term basis, in late September the shares of 'ALTR' completed a slightly larger cup pattern with a measured move to our upper price target of $33.37/share. I see downside support on the share of 'ALTR' @ $30.62/share, and have set my stops accordingly $30.23/share.


Stocks Looking Higher

TXN, VSH, UAL, ALTR, BWA, AFL, ABC, FSTR, ADI, USNA, RHT, WU, MEE, TMO, GS, DPS, VPHM, CVC

Stocks Looking Lower
PFE, TLAB, MRK, ABT, NEM, FIS, K, GES, PBI, CRI

Yesterday's Edition of the Prime Stock Newsletter
The Sterling Investment series of newsletters is produced by Sterling Investment Services, Inc.  If you would like to receive a chart on any index or stock mentioned in this report please contact us at the below mentioned numbers.  We also offer custom research reports on any stock investment that you may desire information on.  To receive further information on these services please visit our web page at:  www.sterlinginvestments.com   If you would like to contact us our # is 800-275-6901,  fax # (404)-816-8830  Email address is: enelson@sterlinginvestments.com  Sterling Investment Services may hold positions in the securities recommended or may be providing consulting services to the companies mentioned within this report.
Copyright 1992-2010 Sterling Investment Services, Inc.
P.O.  Box 191767, Atlanta, GA. 31119-1767
Fax 404-816-8830
404-816-8240

Sterling Logo
Providing Investment Banking Consulting Services to Public Companies


 

 

1999 - 2010 Copyrighted, All Rights Reserved