Monthly Archives: August 2011
OP-Ed on Eurobonds
Sprint – Nextel to Host iPhone 5
Gold Bulls Cashing Out; Rally Overdone
U.S. Mortgage Applications Down to a 15 Year Low
Meredith Whitney Supports BofA
Upgrades and Downgrades This Morning
Upgrades
NEM – Newmont Mining upgraded to Sector Perform from Underperform at RBC Capital
HS – Healthspring added to Best Ideas List @ Wedbush
THG – The Hanover Insurance Grp initiated with a Buy at Sterne Agee
NDAQ – NASDAQ upgraded to Buy from Neutral at UBS
STRA – Strayer Education upgraded to Neutral from Sell at Sterne Agee
FMCN – Focus Media upgraded to Buy from Hold at Deutsche Bank
FE – FirstEnergy upgraded to Outperform from Market Perform at BMO Capital
RNOw – Rightnow Tech initiated with a Outperform at Barrington Research
FRT – Federal Realty Invst Trust upgraded to Outperform from Market Perform at Raymond James
MASI – Masimo upgraded to Buy from Neutral at Lazard
HURN – Huron Consulting upgraded to Buy from Neutral at Janney Montgomery Scott
SUI – Sun Communities initiated with a Buy at Ladenburg Thalmann
CACI – CACI Intl upgraded to Hold from Underperform at Jefferies
YSI – U-Store-It upgraded to Outperform from Market Perform at BMO Capital
SKS – Saks upgraded to Neutral from Underperform at Credit Suisse
ELN – Elan upgraded to Outperform from Neutral at Credit Suisse
BAC – Bank of America defended earlier by Meridith Whitney
Downgrades
GOLD – Randgold Resources downgraded to Sector Perform at RBC Capital Mkts
FIS – Fidelity National Information Services downgraded to Underweight from Neutral at JP Morgan
SANM – Sanmina-SCI downgraded to Underperform from Sector Perform at RBC Capital
BHE – Benchmark Elec downgraded to Sector Perform from Outperform at RBC Capital
RCL – Royal Caribbean downgraded to Hold at Argus
UTHR – United Therapeutics downgraded to Neutral from Overweight at JP Morgan
Comments »Gapping Up and Down This Morning
Gapping up
KTCC +4.1%, DY +10.9%, RES +1.4%, ELN +4.3%, GFI +0.7%, SLW +0.6%, AVGO +8.2%, RENN +6.8%, MASI +1.4%, KTCC +4.1%, NUE +1%, GOLD +2.5%, S +1.9%, GLD +1.2%, NEM +0.6%, SLV +1%,
Gapping down
BUD -3.7%, STD -3.3%, DB -2.7%, ESLR -34.1%, IPHI -24.8%, RDS.A -2.5%, TOT -2.4%, WFT -2.1%, PSUN -17.1%, LYG -2.1%, RIO -1.7%, BHP -1.2%, LZB -10.1%, TTM -5.1%, TCAP -5%, BCS -4%,
In Play and On the Wires
Drought Across The States Ruins Winter Wheat Crop Prospects
Toll Brothers Beats Street Estimates
Get Seriously Worried: Bank Bonuses May Fall From Lower Earnings at the Banks
FLASH: Very Good Durable Goods Number Turns U.S. Futures to Nearly Unchanged
Gold Rose Initially After Yesterday’s Sell Off; But Has Recently Turned Negative Again
Durable Goods:Prior -1.9%, Mkt Expects +1.9%, Actual +4%….June Revised From -1.9 to -1.3%
A great Number futures rise to nearly unch….
Comments »Central Banks Expected to Hoard Gold Despite the Need to Raise Cash for Debt Crisis
UBS: Strengthening Swiss Franc May Cause Eastern European Debt Default
Loans made in the Franc are piling up and since the currency is rising rapidly it is expected that Eastern European nations are and will continue to have trouble paying back debt.
Comments »German Business Confidence Drops to Lowest Levels in Over a Year
Aussie and Kiwi Dollars Fall on Slow Demand
A global slowdown also slowed demand for safe haven currencies in Australia and N.Z. The Yen and Swiss France have received all the safe haven buyers as of late.
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