Logic dictates, if the U.S. credit rating is no good then our debt and currency should trade lower, no? Also, gold should trade up, right? Well, thus far, this trade is not materializing. The only thing consistent with a ratings shock is lower equities, now down 225 on the Dow.
TLT, 20-30 year Treasuries, down just 0.6%
U.S. dollar, +1.00%
Gold, up but weakening
Market cap over $10 billion
No. Ticker % Change Market Cap
1 PBR-A 1.96 214,770,000,000
2 MTB 1.46 10,260,000,000
3 VIA-B 1.04 27,240,000,000
4 RIMM 0.64 27,830,000,000
5 ECL 0.47 11,850,000,000
6 C 0.34 128,430,000,000
7 CAH 0.21 14,330,000,000
8 JNJ 0.17 165,640,000,000
9 VMW 0.08 35,970,000,000
10 NOV 0.03 32,210,000,000
11 DG 0.03 10,750,000,000
12 WMT 0.02 186,950,000,000
13 GIS 0.00 23,840,000,000
14 BBY 0.00 11,350,000,000
15 ACL 0.00 50,800,000,000
16 RMD -0.03 49,950,000,000
17 INFY -0.08 36,110,000,000
18 NEM -0.10 28,490,000,000
19 HNZ -0.10 16,320,000,000
20 FE -0.10 11,710,000,000
21 PCG -0.11 17,780,000,000
22 KMB -0.11 26,520,000,000
23 ABC -0.13 10,850,000,000
24 SO -0.23 32,410,000,000
25 LPL -0.24 11,840,000,000
—————————————–
No. Ticker % Change Market Cap
1 MTL -6.90 11,940,000,000
2 AEG -6.27 13,070,000,000
3 MRVL -5.20 10,120,000,000
4 STO -4.94 89,530,000,000
5 ING -4.86 47,400,000,000
6 SLW -4.65 15,050,000,000
7 BBVA -4.43 53,060,000,000
8 TOT -4.34 135,120,000,000
9 NVDA -4.33 11,070,000,000
10 CVE -4.24 28,200,000,000
11 CAT -4.20 68,490,000,000
12 STM -4.11 10,500,000,000
13 MU -4.00 10,770,000,000
14 JOYG -3.93 10,150,000,000
15 BCS -3.91 58,660,000,000
16 ASML -3.90 17,480,000,000
17 TTM -3.87 15,790,000,000
18 DB -3.85 54,490,000,000
19 ALU -3.78 13,470,000,000
20 CLF -3.75 12,780,000,000
21 SI -3.74 119,300,000,000
22 MTU -3.73 66,320,000,000
23 IVN -3.72 17,390,000,000
24 ARMH -3.69 12,910,000,000
25 SU -3.68 68,750,000,000
Data provided by The PPT
Comments »Crude is down more than 2% and gasoline is off by 1.3%, lending to strength in crack spreads. At the moment, spreads are up 2.4% to $28.23.
Comments »No. Ticker % Change
1 AMRN 71.61
2 THOR 14.26
3 XPRT 8.40
4 LLEN 7.97
5 AONE 7.80
6 CSR 6.25
7 APP 5.00
8 ZOOM 4.95
9 WATG 4.71
10 HRBN 4.01
11 AOB 3.27
12 KAD 2.86
13 REVU 2.78
14 REGN 2.77
15 LUNA 2.44
16 SYMX 2.31
17 YONG 2.31
18 BWEN 2.14
19 PBR-A 1.96
20 GTXI 1.58
21 GNVC 1.56
22 BPAX 1.44
23 FCE-A 1.28
24 DEER 1.23
25 VIA-B 1.04
———————————-
No. Ticker % Change
1 MCZ -13.62
2 PLUG -10.00
3 VPHM -9.67
4 SUF -9.09
5 AG -9.03
6 AAU -8.83
7 HRZ -8.67
8 CIGX -8.53
9 GIGM -8.33
10 HL -8.32
11 DGW -8.01
12 CYH -7.52
13 OPXA -7.46
14 PANL -7.42
15 GNK -7.33
16 COIN -7.16
17 MTL -6.87
18 EXK -6.76
19 URZ -6.71
20 AEN -6.56
21 HSOL -6.50
22 AIB -6.44
23 SSN -6.43
24 AEG -6.40
25 XING -6.36
No. Ticker % Change
1 LBJ -8.08
2 EDC -7.99
3 CZM -7.88
4 ERX -7.09
5 SOXL -6.96
6 XIV -6.49
7 DZK -6.45
8 TYH -6.35
9 TQQQ -6.31
10 TNA -5.84
11 MWJ -5.69
12 EGPT -5.59
13 SIL -5.15
14 NUGT -5.05
15 TUR -5.03
16 BGU -5.02
17 EET -4.94
18 UKK -4.86
19 UPRO -4.85
20 DIG -4.83
21 GUR -4.73
22 XPP -4.59
23 UCO -4.53
24 UYM -4.49
25 FAS -4.44
In light of the market debacle, the following inverse or bearish ETF’s are outperforming.
No. Ticker % Change
1 TVIX 12.97
2 EDZ 8.05
3 ERY 7.04
4 SOXS 6.55
5 VIIX 6.36
6 DPK 6.34
7 BXDC 6.29
8 VXX 6.21
9 VIXY 6.19
10 TYP 6.11
11 SRTY 5.96
12 TZA 5.84
13 EEV 5.58
14 BZQ 5.36
15 SPXU 5.16
16 BGZ 5.09
17 EFU 5.05
18 DUG 4.98
19 DTO 4.86
20 FXP 4.54
21 SCO 4.46
22 UPW 4.45
23 EPV 4.42
24 SMN 4.42
25 FAZ 4.40
“Halliburton’s net profit rose to $511 million, or 56 cents per share, from $206 million, or 23 cents per share, a year earlier.
Excluding the charge from its operations in Libya, the company earned 61 cents per share, topping the 58 cents per share that analysts had forecast on average, according to Thomson Reuters I/B/E/S.
Revenue rose to $5.3 billion, also better than analysts’ forecasts for $4.89 billion.
Operating profit at its North American operations jumped to $732 million from $230 million a year earlier. Latin America also rose to $76 million, from $46 million, although profits fell in the rest of the world.”
Comments »Futures are plunging on news of S&P placing the United States on credit outlook negative, based upon our ridiculous budget issues and pending doom. They want the budget fixed by 2013, or material risks to U.S. debt will arise.
Comments »(Reuters) – Standard & Poor’s on Monday downgraded the outlook for the United States to negative, saying it believes there’s a risk U.S. policymakers may not reach agreement on how to address the country’s long-term fiscal pressures.
Comments »Upgrades
H- Hyatt Hotels upgraded to Outperform at FBR Capital
NSC – Norfolk Southern upgraded to Buy from Hold at BB&T; tgt $80
SCCO – Southern Copper upgraded to Buy from Hold at Societe Generale
AONE – A123 Systems upgraded to Buy from Neutral at Goldman
OZRK – Bank oA123 Systems upgraded to Buy from Neutral at Goldmanf the Ozarks initiated with a Market Perform at Raymond James
PCG – PG&E upgraded to Outperform from Neutral at Credit Suisse
MANH – Manhattan Assoc: The Benchmark Company discusses recent takeover speculation; sees $36-$41 per share takeout price
Downgrades
IRM – Iron Mountain downgraded to Hold from Buy at Citigroup
KFT – Kraft Foods trading lower; weakness attributed to tier 1 firm downgrade
TOT – Total S.A. downgraded to Underperform from Neutral at Credit Suisse
INFY – Infosys downgraded to Neutral from Outperform at Credit Suisse
SNP – initiated with a Hold at Jefferies
GPC – Genuine Parts poor-quality 1Q11A; likelihood of EPS upside for USTR – FBR Capital Markets
RIG – Transocean ests lowered at Stifel Nicolaus following April fleet status update
ESLR – Evergreen Solar downgraded to Sell from Hold at Citigroup
MRVL – Marvell downgraded to Neutral from Positive at Susquehanna
GPS – Gap Marvell downgraded to Neutral from Positive at Susquehannadowngraded to Sell from Neutral at Goldman
CE – Celanese downgraded to Neutral from Buy at UBS
KNL – Knoll downgraded to Market Perform from Strong Buy at Raymond James
THOR – Thoratec upgraded to Buy at Lazard
GNK – Genco Shipping & Trading downgraded to Sell from Hold at Citigroup
CEO – CNOOC Ltd initiated with an Underperform at Jefferies
BMC – BMC Software downgraded to Hold from Buy at Citigroup
CIM – Chimera Investment downgraded to Market Perform from Outperform at Keefe Bruyette
BBY – Best Buy downgraded to Hold at KeyBanc Capital Mkts
Comments »Gapping Up
THOR +9%, AMRN +62.5%, AONE +6.7%, BPAX +3.4%, MCP +1.5%, INVE +12.9%, CYTK +2.7%, CEU +12.7%, TITN +11.7%, AMTD +1.8%, LLY +1.6%, GWW +1.5%, KEY +0.9%,
Gapping Down
TOT -2.8%, THC -2.6%, RDS.A -1.2%, BBL -1%, MT -1%,STD -2.3%CYH -13.8%, SDRL -4.3%, SNN -3.8%, , RCL -1.9%, NVS -1.9%, TS -1.9%, RIO -1.3%, SI-1.3%,
Comments »
