While consumers do keep spending it it no where near levels that suggest a healthy economy.
Comments »Monthly Archives: October 2011
Chevron Doubles Revenues, But Profits Fall
FLASH: JOHN CORZINE SUCKS BECAUSE HE DESTROYED MF GLOBAL
When he became CEO of MF, he started buying sovereign debt.
FAIL.
The stock is now less than $1.
Comments »Upgrades and Downgrades This Morning
Upgrades
IT – Gartner initiated with a Outperform at Northland Securities
OXY – Occidental Petro upgraded to Outperform from Neutral at Credit Suisse
TWC – Time Warner Cable downgraded to Market Perform from Outperform at Wells Fargo
FORR – Forrester Research initiated with a Market Perform at Northland Securities
PEP – PepsiCo initiated with a Buy at Deutsche Bank
KO – Coca-Cola initiated with a Buy at Deutsche Bank
HOS – Hornbeck Offshore upgraded to Buy from Neutral at Pritchard
WFM – Whole Foods upgraded to Neutral from Underperform at Credit Suisse
SPLS – Staples initiated with an Overweight at Morgan Stanley
BCS – Barclays PLC upgraded to Overweight from Neutral at JPMorgan
FOSL – Fossil initiated with a Buy at BofA/Merrill
AMD – Advanced Micro upgraded to Outperform from Market Perform at Wells Fargo
LLY – Eli Lilly upgraded to Outperform from Market Perform at First Global
SPB – Spectrum Brands initiated with an Outperform at Credit Suisse
S – Sprint Nextel upgraded to Outperform from Neutral at Macquarie
M – Macy’s initiated with a Buy at Nomura
PC – Panasonic upgraded to Outperform from Neutral at Credit Suisse
Downgrades
ED – Con Edison downgraded to Underperform from Sector Perform at RBC Capital
HS – Healthspring downgraded to Neutral from Positive at Susquehanna
NFLX – Netflix target lowered to $100 at Oppenheimer
DPS – Dr Pepper Snapple initiated with a Hold at Deutsche Bank
VMED – Virgin Media removed from Pan Europe Conviction Buy List at Goldman
HPY – Heartland Payment Systems downgraded to Neutral from Buy at Suntrust
NUVA – NuVasive downgraded to Market Perform from Outperform at William Blair
NCI – Navigant Consult downgraded to Neutral from Buy at Suntrust
LAMR – Lamar Advertising downgraded to Neutral from Overweight at JP Morgan
BBD – Banco Bradesco ADS downgraded to Neutral from Overweight at HSBC
AIXG – Aixtron downgraded to Neutral from Buy at Sterne Agee
CMS – CMS Energy downgraded to Neutral from Buy at Suntrust
ARBA – Ariba downgraded to Hold from Buy at Craig Hallum
BMY – Bristol-Myers downgraded to Underperform from Outperform at Credit Suisse
ORI – Old Republic downgraded to Underperform from Mkt Perform at Raymond James
PCS – MetroPCS downgraded to Underperform from Buy at BofA/Merrill
SPG – Simon Properties downgraded to Neutral from Buy at UBS
MDR – McDermott downgraded to Market Perform from Outperform at William Blair
SCHN – Schnitzer Steel downgraded to Neutral from Buy at BofA/Merrill
VLY – Valley National downgraded to Hold at Stifel Nicolaus
IRBT – IRobot downgraded to Neutral from Overweight at JP Morgan
KIM – Kimco Realty downgraded to Outperform from Strong Buy at Raymond James
NATL – National Interstate downgraded to Underperform from Mkt Perform at Raymond James
PLL – Pall downgraded to Neutral from Overweight at JP Morgan
CWEI – Clayton Williams downgraded to Mkt Perform from Outperform at Raymond James
FCBC – First Comm Banc downgraded to Hold at Stifel Nicolaus
CVE – Cenovus Energy downgraded to Neutral from Buy at UBS
IRM – Iron Mountain downgraded to Hold at Stifel Nicolaus
Comments »Gapping up and Down This Morning
Gaping up
QTM +4.3%, SOHU +4.2%, SLV +4.2%, SINA +4.1%, YOKU +3.9%, QIHU +3.7%, LVS +3.5%, DANG +2.8%,
WY +2.6%, EXEL +2.4%, ELGX +2.3%, VRSN +2.2%, CERN +1.9%, BAC +1.3%, X +1.3%, VRTX +1.3%,
ALGN +13.4%, CLF +8.4%, HLIT +7.5%, BIDU +6.7%, TORM +6%, AMD +4.7%, STMP +4.5%, DECK +4.4%,
Gapping down
TSYS -5.6%, INPH -5.4%, EXPE -5.1%, AMKR -4.7%, ARBA -4.4%, ERTS -4.1%, VMED -3.7%, SONS -3.4%,
NANO -14.9%, CSTR -11.2%, QLIK -9.9%, MF -9.1%, IPCM -8.7%, LEG -5.8%, DRIV -5.7%, PWER -5.7%,
ING -3.3%, VAR -2.6%, INSP -2.4%, MT -2.1%, TOT -2%, NTGR -1.9%, YHOO -1.6%, BP -1.5%, UBS -1.4%,
BHP -1.3%, RIO -0.9%,
Comments »In Play and on the Wires
ALERT: ITALIAN AND SPANISH 10 YR YIELDS SPIKE
Attention Bears: Portugal on Deck
ALBERT EDWARDS: If Italy Is Insolvent, Then France And Germany Are Even Worse
Fitch Reports Greece Would Reach a State of Default Even With a 50% Haircut
Whirlpool to Cut 5k Jobs
Big Banks Fail to Join BofA in Card Fees
Whitney May Not Be Wrong; Just Late on Munis
Merck & Co. Beat Both on the Top and Bottom Line
MF Global Taps Credit Lines
With asset impairment happening daily the company had to draw on credit lines to keep operations moving along.
Comments »The Head of Europe’s Bailout Fund Sees No Quick Financing Out of China
Borrowing Costs Stifle The Most Recent Italian Bond Auction
Italy manged to sell most of what they needed, but were crushed by high interest coupons.
Comments »Thawing The European Banking System May Be Easier Said Than Done
Germany’s Federal Constitutional Court Halts Parliamentary ESFS Decision
Probably why European markets pared gains overnight. The decision is temporary until lawsuits by lawmakers are heard.
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