Despite a slowdown, fears of a double dip, and the unresolved problems in Europe we saw a huge beat in retail sales.
The economy does not look so bad after all.
Comments »Monthly Archives: October 2011
Upgrades and Downgrades This Morning
Upgrades
IBM – IBM initiated with an Outperform at Macquarie
NTSP – NetSpend initiated with a Market Perform at JMP Securities
GPRO – Gen-Probe initiated with a Neutral at Lazard
GDOT – Green Dot initiated with an Outperform at JMP Securities
ARIA – Ariad Pharm initiated with a Mkt Outperform at Rodman & Renshaw
ADTN – ADTRAN upgraded to Buy from Hold at Jefferies
CELG – Celgene initiated with a Mkt Outperform at Rodman & Renshaw
AMP – Ameriprise Financial upgraded to Outperform from Market Perform at Keefe Bruyette
Downgrades
MON – Monsanto downgraded to Neutral at Ticonderoga
RIMM – Research In Motion target lowered to $24 at Wunderlich
SJM – J.M. Smucker initiated with a Hold at Stifel Nicolaus
PBCT – People’s United Financial initiated with a Hold at Jefferies
FSLR – First Solar target lowered to $65 at Wunderlich
MRVL – Marvell initiated with an Outperform at Cowen
DTSI – DTS downgraded to Neutral at Collins Stewart
AMR – AMR ests lowered at Dahlman Rose
FTNT – Fortinet initiated with a Hold at Wunderlich
ECL – Ecolab downgraded to Neutral from Buy at Citigroup
CLC – CLARCOR initiated with a Hold at Stifel Nicolaus
NSC – Norfolk Southern downgraded to Hold from Buy at BB&T
GPS – Gap downgraded to Market Perform from Outperform at Wells Fargo
DGX – Quest Diagnostics initiated with Neutral at Susquehanna
LH – initiated with Neutral at Susquehanna
DCI – Donaldson initiated with a Hold at Stifel Nicolaus
QSII – Quality Systems downgraded to Market Perform from Outperform at JMP Securities
NCMI – National Cinemedia downgraded to Hold at Stifel Nicolaus
TQNT – TriQuint Semi downgraded to Neutral at boutique firm
RA – RailAmerica downgraded to Hold at Stifel Nicolaus
BEAM – Beam initiated with a Hold at Argus
Comments »Gapping up and Down This Morning
Gapping up
GOOG +7%, TQNT +6.9%, OPK +6.2%, ALU +3.4%, BIDU +1.9%, SAP +1.8%, ROYL +4.8%, SD +2.3%, E +2.1%,
RIG +2.1%, TOT +1.9%, NAV +8.1%, OPK +6.2%, UN +3.1%, JNPR +2.3%, BP +1.3%, SINA +1.2%, TCK +2.9%,
MT +2.7%, FCX +2.4%, RIO +2.0%, BBL +1.7%, SCCO +1.7%, SLV +1.5%, YOKU +3.1%, SOHU +2.5%,
BIDU +2.3%, YHOO, SWKS +3.7%, OVTI +3.7%, QCOM +1.3%,
Gapping down
NCMI -29.8%, UBS -1.4%, LYG -1.0%,DB -2.4%, DEPO -28.3%, INSM -14.3% , NCMI -24.1%, MCHP -1.9%, MAT -0.6%,
Comments »In Play and On the Wires
What Keeps Nomura Up at Night ? More on the Eu Debt Crisis
Retail Sales: Prior 0, Market Expects 0.6%, Actual 1.1% …Import Prices 0.3 & Export Prices 0.4%
Ex auto up 0.6%
Financing for Solar and Wind Jumped to $41.8 Billion in Q3
Mattell Reports Better Than Expected Earnings
Google’s Home Run Earnings Were Helped by Ad Sales
This is a good sign given ill reports out of NYT and some digital ad companies…
Comments »Jim Rogers: US to Experience Stagflation Worse Than 1970s
Wibur Ross: Markets Are Over Their Fears for Europe
SAP Turns Out Good Profits and Sales for Q 3
The pipeline is said to be robust and companies are said to be updating IT infrastructure.
Comments »G-20 Considering Supporting IMF Liquidity to Help EU Crisis
Fitch Warns on Over a Dozen Bank Downgrades
Europe’s Plan to Have Private Capital Injections Into Banks is Already Not Working
Shareholders and other private parties a highly skeptical of putting any more money into euro zone banks…
Comments »Money Market Funds Cut Off French Banks From Fresh Cash to the Tune of 44%
S&P Cuts Spain’s Credit Rating for a Third Time
Europe Planned to Come Up with a Plan; Which is Being Planned To Present the Plan by October 23rd
Asian Markets Digest Near Unch Levels While Europe and U.S. Futures Rise
Spanish and Italian Yields Edge Higher
Spanish yields are approaching 5.3% and Italian yields are now north of 5.8%.
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