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Monthly Archives: July 2011

Analyst Puts Debt Ceiling Deal @ 40% by August 2; Downgrade Now a Base Case for the U.S.

“Laperriere said in a note to clients today that there are “strong policy and political incentives” for President Barack Obama and House Speaker John Boehner to reach a deal. “That’s still possible, but a deal that would alter the trajectory” of the ratio of federal debt to gross domestic product “now appears unlikely,” he wrote.”

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Today’s Winners and Losers

Market cap min of $500mill

No. Ticker % Change Market Cap
1 SANM 22.56 742,320,000
2 RSH 18.95 1,390,000,000
3 LXK 17.44 2,280,000,000
4 HLX 16.39 1,950,000,000
5 XRS 15.99 811,070,000
6 VLTR 15.27 564,590,000
7 GEOY 15.17 784,850,000
8 GRA 13.97 3,360,000,000
9 GPI 13.89 960,620,000
10 BXS 11.98 1,060,000,000
11 TLAB 10.98 1,520,000,000
12 ODP 10.80 977,050,000
13 WFT 10.42 15,240,000,000
14 YOKU 10.00 3,770,000,000
15 BRCM 9.62 18,720,000,000
16 JJSF 9.40 942,900,000
17 FNSR 8.68 1,680,000,000
18 CEVA 8.61 692,920,000
19 OMX 8.56 592,320,000
20 SVU 8.10 1,810,000,000
21 CIGX 8.03 552,100,000
22 CNC 7.74 1,710,000,000
23 XUE 7.61 523,990,000
24 MCP 7.15 5,020,000,000
25 DGI 7.08 1,170,000,000
26 DAC 7.01 511,630,000
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No. Ticker % Change Market Cap
1 AKS -15.85 1,710,000,000
2 PCX -11.87 2,230,000,000
3 UIS -11.54 1,090,000,000
4 PCAR -11.19 18,420,000,000
5 ADVS -10.75 1,410,000,000
6 IOC -10.68 3,100,000,000
7 CSL -9.81 2,970,000,000
8 LII -9.73 2,200,000,000
9 MLI -9.73 1,710,000,000
10 ARAY -9.18 507,710,000
11 STM -8.67 8,030,000,000
12 X -8.53 6,370,000,000
13 ITW -8.52 28,510,000,000
14 SCOR -8.19 813,820,000
15 CRDN -8.03 880,710,000
16 CPSI -7.81 749,630,000
17 NFLX -7.71 14,790,000,000
18 WAT -7.70 8,900,000,000
19 RCII -7.57 1,900,000,000
20 IPAR -7.53 684,020,000
21 NUVA -7.20 1,280,000,000
22 OMI -7.10 2,150,000,000
23 FMER -6.58 1,820,000,000
24 TNAV -6.49 865,090,000
25 WAC -6.44 690,690,000

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GASPARINO SCOOP: No Default

Charlie Meatballs is out with his latest scoop, suggesting the White House has assured top bankers that the U.S. will NOT default, even if a deal is not reached by 8/2/11.

Disclaimer: I’m half Italian.

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Former Attorney General Edwin Meese: Obama Isn’t Learning From Reagan

“Rather than learning pro-growth lessons from President Reagan, he is creating another 1982 moment, seeking to lure Republicans into accepting another tax increase for illusory spending cuts,” Meese and Heritage Foundation CEO Michael Needham writes in USA Today.

“Taxing our way to prosperity isn’t the answer. It never has been.”

“If our children and grandchildren are to live in a free and prosperous America, congressional Republicans must not negotiate and accept a deal that raises taxes.”

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Soros: Sa La Vie

Soros is retiring from money management complaining that regulation will make business harder. Of the $25.5 Bn he manages he will return about a billion to investors and manage the rest for himself and family.

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Upgrades and Downgrades This Morning

Upgrades

BBT – BB&T Corp upgraded to Buy from from Hold at Rochdale

BHI – Baker Hughes target raised to $114 from $92 at Dahlman Rose

SOHU – Sohu.com upgraded to Buy from Underperform at Credit Agricole

FNSR – Finisar upgraded to Buy from Hold at Citigroup

RSTI – Rofin-Sinar Technologies upgraded to Buy at Stifel Nicolaus

PETM – PETsMART initiated with an Outperform at RBC Capital

BEAV – BE Aerospace target raised to $56 from $48 at RBC Capital Mkts

Downgrades

NVDA – NVIDIA downgraded to Sell at Needham

WRC – Warnaco Group downgraded to Neutral from Buy at Lazard

HCA – HCA target lowered to $38 from $40 at RBC Capital Mkts

VPRT – Vistaprint initiated with a Neutral at Piper Jaffray

STM – STMicroelectronics downgraded to Underperform from Neutral at Exane BNP Paribas

EE- El Paso Electric downgraded to Hold from Buy at Argus

RCII – Rent-A-Center downgraded to Hold at Stifel Nicolaus

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Gapping up and Down This Morning

Gapping Up

COMV +10.5%, SANM +8.5%, SINA +2.2%, NTES +1.1%, WFT +7.5%, BRCM +8.1%, HLX +7.4%, BIDU +6.7%, HLX +7.4%, BIDU +6.7%, LXK +6.4%, SVU +5.6%, FNSR +4%, WFT +3.9%, SAPX +3.3%, COV +5.3%, CMI +5%, UA +4.6%, USAT +4.4%, MSPD +2.6%, CR +2.3%, HII +2.1%, , MSPD +3.8%, CR +2.3%, F +1.7%, OCNFD +83.2%,RIO +1.4%, EBAY +1.3%, RCL +1.1%, RSH +14.6%, SANM +10.6%, COMV +10.5%, BRCM +8.3%, DANG +4.7%, SOHU +2.9%, MT +0.9%, BHP +0.8%, GOLD +0.8%,YOKU +2.4%,

Gapping Down

STM -10.6%, QGEN -3.1%, WRC -1.1%, NUVA -1.9%, NVDA -2.2%, BP -1.9%, EE -1.7%, STEC -3.1%, DB -1.7%, FEN -5.7%, UCTT -10.2%, GES -1.8%, NFLX -9.4%, SONO -6.9%, SPWRA -4.2%, UBS -3.4%, CENX -3.3%,
FEN -5.7%, AEIS -4.6%, HCA -1.3%, IRE -4.5%, BAS -4.4%, BAS -4.4%,

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