It tells us for sure that not only is there a solvency problem, but a liquidity problem. The question now is how far will this problem spread. Will Europe act in time ?
Comments »Monthly Archives: October 2011
Michael Pettis: It Would Be Foolish For The BRICs To Save Europe
Add Turkey to the List of Central Banks Dumping Dollars
In a effort to stabilize currency and exchange rates, Turkey is the latest nation to dump dollars.
Comments »Marriot President: “Our Stock is Remarkably Cheap”
In a CNBC interview, the COO of Marriot (Arne Sorenson), ticker MAR, when asked about the economy said he was “seeing no signs of weakness in the US.” He furthered the numbers do not suggest recession. When asked about the company buyback program he said “let’s not be so arrogant as to assume we know where the economy is going. But we can look at the valuation the market is putting on our stock and we think it’s remarkably cheap.”
Comments »FLASH: The German DAX is Now Down
It gave up a 2%+ rally, based solely upon the fucktarded comments by the departing Trichet.
Comments »FLASH: European Markets and US Futures Weaken on Trichet’s Comments
The man is going hogwild retarded, speaking out against leveraging the EFSF and how banks should just go to the private sector to get money. Clearly, he is short stocks.
Comments »Upgrades and Downgrades This Morning
Upgrades
EGN – Energen initiated with a Buy at Caris
ABX – Barrick Gold upgraded to Outperform from Market Perform at BMO Capital
SXCI – SXC Health Solutions upgraded to Outperform from Market Perform at BMO Capital
MON – Monsanto upgraded to Overweight from Neutral at JP Morgan
OXY – Occidental Petroleum upgraded to Overweight from Neutral at JP Morgan
PLCM – Polycom upgraded to Buy at Argus
PCG – PG&E upgraded to Buy from Hold at Citigroup
UL – Unilever PLC initiated with a Buy at Societe Generale
SIVB – SVB Financial Group initiated with an Outperform at Raymond James
RL – Polo Ralph Lauren upgraded to Buy from Hold at Citigroup
WES – Western Gas Partners upgraded to Buy at Stifel Nicolaus
Downgrades
ADSK – Autodesk initiated with a Neutral at Cowen
XOM – Exxon Mobil downgraded to Underweight from Neutral at JP Morgan
CVX – Chevron downgraded to Underweight from Neutral at JP Morgan
BBG – Bill Barrett downgraded to Neutral from Buy at Suntrust
CLR – Continental Resources downgraded to Reduce from Neutral at Suntrust
GLW – Corning initiated with an Equal Weight at Morgan Stanley
HCP – HCP initiated with an Equal Weight at Morgan Stanley
CNW – Con-way initiated with an Equal Weight at Morgan Stanley
DYN – Dynegy downgraded to Underperform from Neutral at Macquarie
COST – Costco downgraded to Market Perform from Outperform at William Blair
PFCB – PF Chang’s downgraded to Market Perform from Outperform at William Blair
REN – Resolute Energy downgraded to Reduce from Neutral at Suntrust
CS – Credit Suisse initiated with an Underweight at Banco Santander
CMG – Chipotle Mexican Grill downgraded to Sell from Neutral at Miller Tabak
WAG – Walgreens downgraded to Neutral from Buy at BofA/Merrill
AMX – America Movil SA downgraded to Hold from Buy at Banco Santander
Comments »FLASH: ECB Will Buy 40 Billion Euro in Covered Bonds
Being reported that this will not increase the money supply.
Comments »Gapping Up and Down This Morning
Gapping up
OCZ +20.7%, ZUMZ +14.4%, ESIC +9.6%, NDN +6.1%, NBG +3.6%, LYG +3%, BCS +2.4%, HBC +1.8%, UBS +1.2%,
C +0.8%, CS +0.5%, BAC, TGT +3.7%, ESRX +2.9%,CMTL +12.8%, AIXG +5.1%, GLW +4.8%, MT +4.4%, RIO +3.9%,
MCP +3.5%,LTD +0.5%, SLV +3.5%, BBL +3%, PZG +2.5%,BHP +2.4%, RIO +3.5%, AG +2.4%, BHP +2.4%, BBL +2.1%,
MT +1.8%, SLW +1.6%, MCP +3.5%, DANG +5.5%, BIDU +2.2%, SINA +1.6%, GLW +4.8%, ETN +0.7%
Gapping down
RT -10.1%, DRWI -7.9%, AAPL -2.1%, YHOO -1.9%, BP -1.6%,
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