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Monthly Archives: August 2011

Birinyi: Market is Becoming Ripe for Stock Picking

“I want to go down to the lowest level, which is the hardest level, and pick individual stocks,” Birinyi tells CNBC.

“The markets create some good opportunities, and I think that’s what you should be looking at here and not be consumed by the level of the market.”

Birinyi adds he’ll avoid underperforming financial stocks, which have been battered on fears that debt woes in parts of Europe can threaten financial sectors everywhere. ”

Full article

Read more: Birinyi: Market is Becoming Ripe for Stock Picking
Important: Can you afford to Retire? Shocking Poll Results

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Upgrades and Downgrades This Morning

Upgrades

WNR – Western Refining upgraded to Buy from Neutral at Goldman

XOM – Exxon Mobil added to Conviction Buy List at Goldman

NBL – Noble Energy added to Conviction Buy List at Goldman

BEXP – Brigham Exploration upgraded to Buy at Stifel Nicolaus

ICE – IntercontinentalExchange upgraded to Buy from Neutral at Goldman

COO – Cooper Cos initiated with an Outperform at William Blair

KCG – Knight Capital Group added to Conviction Buy List at Goldman

NANO – Nanometrics initiated with a Buy at Stifel Nicolaus

FWRD – Forward Air upgraded to Buy at Stifel Nicolaus

CSCO – Cisco Systems upgraded to Buy at Stifel Nicolaus

NYX – NYSE Euronext upgraded to Buy at Argus

BEN – Franklin Resources upgraded to Buy from Neutral at Goldman

KIM – Kimco Realty upgraded to Buy from Neutral at UBS

ERTS – Electronic Arts upgraded to Outperform from Neutral at Cowen

KGC – Kinross Gold downgraded to Neutral from Outperform at Credit Suisse

Downgrades

KKR – KKR downgraded to Neutral from Buy at Goldman

IL – IntraLinks Holdings downgraded to Sector Perform from Outperform at Pacific Crest

COG – Cabot Oil & Gas downgraded to Neutral from Buy at Goldman

RJF – Raymond James downgraded to Neutral from Buy at Goldman

DIS – Walt Disney downgraded to Neutral from Buy at Goldman

VNO – Vornado Rlty Trust downgraded to Neutral from Buy at Goldman

SLAB – Silicon Labs initiated with a Hold at Wunderlich

VQ – Venoco downgraded to Hold at Stifel Nicolaus

CSC – Computer Sciences ests and target lowered to $38 at Stifel Nicolaus

LNC – Lincoln National downgraded to Neutral from Buy at Goldman

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Gapping Up and Down This Morning

 

Gapping Up

BAC +3.4%, ETFC +3.3%, KGC +3.3%, ACTV +12.7%, CSCO +10%, JNPR +2.8%, GILD +2.6%, AZN +2.6%,IOC +5.9%, RVBD +2.3%, BCS +2.1%, AAPL +1.5%, BEXP +5.1%, BK +4.1%, AAP +3.6%, ALU +3.5%,

Gapping Down

ENS -6.5%, ANW -3.3%, OTEX -7.8%, GFI -2%, SF -1.6%, UN -1.3%

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Merrill Lowers Sector Rating to Neutral on Euro Banks

Essentially they just kicked the EU in the nuts.

“As long as EU peripheral debt issues remain in the headlines despite the best efforts of the ECB, banks will likely remain a focal point for negative risk appetite and we believe this will weigh against optically cheap valuations and low investor positioning.”

Full report

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