Perhaps today markes the reversal of this recent correction…..
Comments »Monthly Archives: May 2011
FLASH: Warner Music Group Shares Halted, Access Industries Wins Auction, with $8.25 a Share Bid
Upgrades and Downgrades This Morning
Upgrades
PCLN – Priceline.com target raised to $676 from $660 at The Benchmark Company
APA – Apache target raised to $150 from $130 at Oppenheimer
PLX – Protalix BioTherapeutics upgraded to Hold from Sell at Hapoalim
SQNM – Sequenom resumed with a Buy at Auriga U.S.A
ROSE – Rosetta Resources upgraded to Buy from Neutral at Suntrust
PEP – PepsiCo upgraded to Outperform at Credit Suisse
KFT – Kraft Foods target raised to $37 from $35 at Stifel Nicolaus
SLAB – Silicon Labs upgraded to Outperform from Market Perform at JMP Securities
JDSU – JDS Uniphase upgraded to Buy at Argus
TU – Telus upgraded to Outperform from Sector Perform at RBC Capital
HK – Petrohawk Energy target raised to $32 from $24 at FBR Capital
EQIX – Equinix upgraded to Outperform from Market Perform at Wells Fargo
PWE – Penn West Energy upgraded to Outperform from Sector Perform at RBC Capital
DTV – DIRECTV target raised to $57 from $55 at Kaufman Bros
PVA – Penn Virginia upgraded to Buy from Hold at Canaccord Genuity
Downgrades
FDO – Family Dollar downgraded to Neutral at Cowen
ARO – Aeropostale target lowered to $27 from $31 at Oppenheimer
ADS – Alliance Data downgraded to Sell from Neutral at Goldman
EMR – Emerson target lowered to $71 from $74 at Oppenheimer
CBOE – CBOE Holdings target lowered to $29 from $32 at Oppenheimer
NILE – Blue Nile target lowered to $40 from $44 at The Benchmark Company
COMV – Comverge target lowered to $7 from $9 at Needham
INFA – Informatica initiated with a Neutral at Longbow
Comments »Gapping Up and Down This Morning
Gapping Up
IMMR +18.1%, SPRD +1.3%, SLV +1.1%, UFS +2.4%, KFT +1.1%DMD +9.1%, LLNW +6.3%, MERC +5.3%, AIXG +2.4%,RBS +5.8%, RBCN +5.6%, NVTL +5.5%, HANS +4.9%,XOMA +4.1%, CF +3.7%, PWER +5.3%, SQNM +1.8%, LYV +1.6%, BHP +1.5%
Gapping Down
GSIT -19%, ALU -3.2%, VTSS -4.2%, BRE -4%, SDRL -1.4%,V -1.2%.EMKR -8.9%, SUN -2.6%, DLB -5.5%, KOG -5.1%, TTMI -2.5%,SMTX -16.3%, IGOI -13.5%, ACOM -1.7%, AIG -1.7%, MDRX -4.3%,YOKU -6.5%, NILE -5%, CADC -4%, SD -3.5%, ARE -3.4%, QLGC -3.3%,
Comments »In Play and On The Wires
S&P Futures are Soaring Post Jobs Report
Futs are 13 points above fair value.
Comments »Unemployment Report: Prior 8.8%, Market Expects 8.8% & Job Creation of 186k, Actual Job Creation of 244k & Unemployment Rate is 9%
Jim Rogers: The U.K. Will Need a Bailout Soon
“Britain isn’t cutting its structural deficit by enough or doing it quickly enough and may need a bailout from its European partners, investor Jim Rogers told CNBC.
But UK-based analysts disputed this view, saying the austerity measures were enough.
Rogers said the UK coalition government needed to go further in order to avoid financial catastrophe.
“They [the government] are not doing it. They are saying they are doing it but they are not. They are saving £1 billion ($1.6 billion) here or there but they are not doing what they really need to and I’m not sure the government would survive the kind of pain that is really required,” he said.”
Comments »PPI in the U.K. Rises More Thna Expected
“U.K. producer prices rose more than economists forecast in April, suggesting inflation pressures may still be building in the economy.
The cost of goods at factory gates increased 0.8 percent from March, the Office for National Statistics said today in London. The median forecast of 12 economists in a Bloomberg News survey was for a 0.7 percent gain. From a year earlier, output prices rose 5.3 percent. Annual input-price inflation accelerated to the fastest since September 2008.”
Comments »India’s Markets Rally After The Longest Selloff in a Decade
German Industrial Output Rises Led by Construction
“German industrial production rose for a third month in March as construction surged, adding to signs Europe’s largest economy gathered strength in the first quarter.
Output increased 0.7 percent from February, when it rose 1.7 percent, the Economy Ministry in Berlin said today. Economists had forecast a gain of 0.5 percent, the median of 21 estimates in a Bloomberg News survey showed. In the year, production rose 11.2 percent when adjusted for working days.”
Comments »Canadian Unemployment Comes in Better Than Expected Helping to Boost the Loonie
“Canada added almost three times more jobs than economists forecast in April and theunemployment rate declined on increased hiring by service companies and part-time work.
Employment rose by 58,300 after a March decline of 1,500, Statistics Canada said today in Ottawa. The jobless rate fell to 7.6 percent from 7.7 percent, as the labor force grew by 47,400. Economists forecast no change in unemployment and 20,000 new jobs in Bloomberg News surveys that had 24 and 25 estimates. The largest estimate was for 40,000 new jobs.”
Comments »Insider Buying in Korean Companies Propels the Kospi Index to New Heights
“South Korean executives are buying shares in their companies at the fastest pace in two years, fueling a rally that already sent the benchmark index to a record high.
Insiders of KRX 100 Index (KRX100) companies made at least 255 stock purchases this year, topping sales by 34 percent, according to data compiled by Bloomberg. The value of purchases jumped to $51 million, the highest level since the first quarter of 2009, when South Korean stocks began a rally that sent the KRX index up 40 percent in six months.”
Comments »European Markets Try to Make a Reversal of Recent Downside
Commodities Continues Their Retreat With Gold Bucking the Trend
“Commodities tumbled for a fifth day, led by oil and silver, on concern economic growth is faltering. U.S. stock index futures rose, indicating the Standard & Poor’s 500 Index may gain for the first time in five days.
The S&P GSCI index of 24 commodities fell 1.7 percent at 7:50 a.m. in New York, bringing this week’s decline to 11 percent, as oil lost 2.3 percent in New York and silver sank 7 percent. S&P 500 index futures gained 0.1 percent, and the Stoxx Europe 600 Index advanced 0.1 percent. The five-year Treasury note yield rose one basis point, while the yen weakened against all but three of its 16 most-traded counterparts.”
Comments »China Pushes Back on the U.S. Request to Allow Yuan to Float With Curb Your Debt Problems
I’m not sure if this is for public spectical or if this is developing into something more…we will have to see
Comments »Fun With YouTube & Interweb Archives
Make what you want of this. I’m not sure what to believe at this point….
Not that this makes anything official, or this, but a rather interesting read indeud….This is official though; and the real question is….is it a comet or a brown dwarf ?
[youtube:http://www.youtube.com/watch?v=0Bv1rQxgMbA 450 300] Comments »U.S. House Vote To Open Oil and Gas Drilling Off VA Coast
“….The House passed the bill 266 to 149, with Virginia’s Republicans voting in favor. It would force the government to conduct three lease sales in the Gulf of Mexico and one off the Atlantic Coast within a year, or by June 2012. But the bill does not provide royalties for the state.
The bill is likely to face stiff opposition in the Democratic-led Senate.”
Comments »YOKU doing a $600m Secondary less than 6 months after IPO. And why not?
05 May 2011 23:08 EDT DJ Youku.com, Investors Plan Up To $600 Mln Share Offering
BEIJING (Dow Jones)–Chinese online video company Youku.com Inc. (YOKU) said it and some of its investors plan to sell up to $600 million worth of American Depositary Shares in the company, with the majority of the offering composed of primary shares issued by Youku.
Youku said in a prospectus filed with the U.S. Securities and Exchange Commission dated Thursday the $600 million figure includes additional shares that its underwriters could choose to buy, in addition to the secondary shares to be sold by investors who invested in Youku before its initial public offering in December. It didn’t elaborate.
The firm didn’t specify the number of American Depositary Shares it and its investors will sell.
-By Owen Fletcher, Dow Jones Newswires; 8610 8400 7702; [email protected]
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