Outperform - Price 82.89 on August 4 by Raymond James [Independent energy company] Apache posted 2Q09 operating earnings per diluted share of $1.41, well above our $1.03 and consensus $1.07 estimates. The upside…was due to higher production and lower lease-operating expense. Net income of $1.31 included a noncash foreign-exchange charge. [Apache's] realized pricing in 2Q rose about 19% sequentially, due to its internationally diversified asset base. Domestically, Apacheis drilling its first horizontal Granite Wash well [Texas/Oklahoma]. Apache holds roughly 200,000 acres in this prolific play. In Egypt, it discovered two new fields and drilled, or is in the process of completing, five wildcat discovery wells. Apache is well prepared to weather sustained weakness in domestic gas prices.…. Our 95 target is based on a 4.5 times multiple to our updated 2010 earnings before interest, taxes, depreciation and amortization [Ebitda] estimate, within the traditional exploration-and-production range of 4 times to 6 times. Market cap: $28 billion.

Market Outperform - Price 10.45 on August 4 by JMP Securities We're reiterating our Market Outperform rating and 14 target ..... July 29,CB Richard Ellis reported 2Q09 EPS of 4 cents, in line with guidance of zero to 7 cents. We're maintaining our '09EPSestimate of 27 cents and our '10E-EPS of 84 cents, with our projections assuming continued weakness in sales and leasing markets offset by significant cost-cutting. Our positive view on the stock is due to a belief that leasing volumes are approaching trough levels and sales activity is picking up…slightly. CBG trades at 2010 price/earnings and enterprise-value/Ebitda multiples of 12.5 times and 7.6 times; our 14 target indicates a 17 times forward P/E versus the historical average of 15 times. Market cap: $2.9 billion.

Hold - Price 16.79 on August 4 by Jefferies & Co. We remain cautious on shares of BOOM [which provides explosion-welded cladmetal plates and welding services], on concerns over lower capacity-utilization rates in key end markets and anticipated lower capital spending. This could negatively impact overall demand. Our 14 target is based on a 7 times EV/Ebitda multiple on our 2010 outlook. This is at the low end of the historical range, given the market uncertainty. Risks include dependence on a limited number of customers…delayor cancellation of projects, potential for tightness in metal supplies, and fluctuations in timing/ size of orders. Market cap: $212 million.

Positive - Price 20.48 on August 4 by Susquehanna Financial Group Target: 25. With strong execution for a second quarter in a row…we're more confident regarding EXPE's outlook. Thus, we're increasing our Ebitda target multiple from 7 times to 10 times….We believe EXPE shares should trade at a price/earnings-to-growth, or PEG ratio, of 1 times long-term growth, as we view Expedia as a leader in the global online-travel industry, with exceptional free-cash-flow generation. Market cap: $6 billion.

Buy - Price 33.77 on August 4 by Sterne, Agee & Leach The risk trade may be in vogue for the moment, but Snoopy is for the long term: MET reported [operating earnings per share] of 88 cents, well ahead of our 67 cents and First Call consensus of 71 cents. Lots of noise in the quarter, but the net effect of one timers was $3 million. The beat was broad based, but in general was driven by better [net interest income], with the drag from variable-investment income (including alternative assets) showing material improvement on linked-quarter basis.…Our target moves from 41 to 44, or 11 times our new 2010 EPS of $4. Market cap: $27.5 billion.

Outperform - Price 7.19 on August 4 by Morgan Keegan MOT reported 2Q09…revenue [results were] in line, due to relative strength in handsets, offset by relative weakness in Home/Networks. EPS was a 1-penny loss, pennies better than our expectations. Motorola provided further clarity by indicating it expected Android smartphones to launch in 4Q, and a majority of its handset launches in 2010 to be Android-based. And iDEN-based handsets are seeing a resurgence with Sprint's successful Boost Mobile offering.… Broadband Mobility units appear stable, and should be flat-to-up sequentially in second-half '09.We're upgrading to Outperform as our sum-of-the-parts valuation gets to a $10/share fair value, $8 alone for Broadband Mobility. Liquidity risks no longer appear relevant, and peer group multiples have expanded significantly…We view the risk/reward over the coming six months as favorable. Market cap: $16.5 billion.