Jefferies CEO Expects Turmoil to Subside Shortly

“Jefferies Group Inc. (JEF) Chief Executive Officer Richard Handler said turmoil around the investment bank’s shares and publicly traded debt will ease as the fallout dissipates from the collapse of MF Global Holdings Ltd.

“It is not surprising that our bonds are under pressure after the assault on our company over the past two weeks,” Handler said yesterday in an e-mail. “Some bond investors sell first and ask questions later. We expect the market to return to normal pricing once we move beyond the ripple effect of the inaccuracies others have recently disseminated and once investors digest all the information” that Jefferies disclosed.”

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Google tries to catch up to AMZN and AAPL

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They will try to escape $1.4 billion in debt

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Down to $13.90

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Now down to $8.

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You must also wonder why you can buy junk food with food stamps, but not organic or health foods.

Let’s keep subsidizing junk food companies with tax payer money.

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The divide between rich and poor is increasing as middle class neighborhoods vanish.

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Downgrades will be triggered if Italy is locked out of the market.

Fitch comments

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But there is no inflation….

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Check it

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Fears over sovereign debt have central banks stack gold a mile high…

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Virgin Money has paid $1.81 billion for Northern Rock

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It is rumored that the ECB will give money to the IMF and then the IMF in turn will fund Europe’s sovereign debt…

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Upgrades

PM – Philip Morris International target raised to $80 from $75 at Stifel Nicolaus

PGR – Progressive initiated with an Outperform at Bernstein

SF – Stifel Financial initiated with an Outperform at Raymond James

ADSK – Autodesk upgraded to Buy at Argus

LULU -lululemon athletica upgraded to Buy at Stifel Nicolaus

ENB – Enbridge upgraded to Buy from Hold at Canaccord Genuity

CNC – Centene initiated with an Outperform at Raymond James

SARA – Saratoga Resources initiated with a Mkt Outperform at Rodman & Renshaw

SIMO – Silicon Motion target raised to $25 at Needham

GPRO – Gen-Probe initiated with a Buy at ThinkEquity

EV – Eaton Vance downgraded to Neutral from Buy at Sterne Agee

HOLI – HollySys upgraded to Overweight from Neutral at Piper Jaffray

XLS – Exelis initiated with a Neutral at JP Morgan

AMT – American Tower added to Conviction Buy List at Goldman

ENB – Enbridge upgraded to Buy from Hold at TD Newcrest

MU – Micron upgraded to Outperform at Oppenheimer

ROVI – Rovi initiated with an Outperform at JMP Securities

LFUS – Littelfuse initiated with a Hold at Stifel Nicolaus

TIVO – TiVo initiated with an Outperform at JMP Securities

Downgrades

AAPL – Apple ests cut at Oppenheimer to build in more cautious iPad ramp

DK – Delek US Holdings downgraded to Hold from Buy at Deutsche Bank

BK –  Bank of NY downgraded to Neutral from Buy at Suntrust

RCL – Royal Caribbean  initiated with Neutral at HSBC

CCL – Carnival initiated with Neutral at HSBC

IHG – Intercontinental Hotels Group initiated with Neutral at HSBC

NTAP – NetApp downgraded to Neutral at Collins Stewart

WNR – Western Refining downgraded to Hold from Buy at Deutsche Bank

ANF – Abercrombie & Fitch downgraded to Hold from Buy at ISI Group

MRVL – Marvell downgraded to Underperform from Market Perform at JMP Securities

TFM – The Fresh Market downgraded to Neutral from Overweight at Piper Jaffray

STT – State Street downgraded to Neutral from Buy at Suntrust

TD – Toronto-Dominion Bank downgraded to Market Perform from Outperform at Keefe Bruyette

KEM – KEMET initiated with a Hold at Stifel Nicolaus

CHK – Chesapeake Energy downgraded to Sell at Argus

GES – Guess? downgraded to Underperform from Neutral at BofA/Merrill

PGR – Progressive downgraded to Hold at Deutsche Bank

SBH – Sally Beauty downgraded to Equal Weight from Overweight at Barclays

ANSS – ANSYS initiated with a Neutral at Goldman

NXTM – Nxstage Medical initiated with Overweight at Piper Jaffray

PMTC – Parametric initiated with a Neutral at Goldman

UA – Under Armour  initiated with a Hold at Auriga

MPC – Marathon Petroleum removed from Best Ideas list at Morgan Stanley

COLM – Columbia Sportswear initiated with a Hold at Auriga

RMBS – Rambus downgraded to Neutral from Overweight at JPMorgan

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Gapping up 

MLNK +13.8%,  RMBS +5.2%, DNDN +2.3%,  LNKD +0.8%,QIHU +6.8%,  HOTT +7.4%, SLXP +6.2%, ZOLL +5.2%,

QIHU +4.7%, RMBS +4.1%, PLCE +9.4%, NTES +3.4%,  MGAM +4.6%, HFC +2.3%, NGG +1.9%, AZN +1%, HS +1%,

Gapping down

YOKU -14.1%,  PERY -17%, NTAP -7.2%, FRO -3.2%, SHLD -3.7%, AMAT -2.5%,  LTD -2.3% , MT -1.3%, EMC -1.2%,

PETM -0.7%, LYG -4.8%, BCS -1.5%, PEIX -5.8%, DGIT -5%, HBC -1.3%,  EV -2.3% , IRE -1.3%, STT -1.6%,WNR -1.3%,

SSRI -3.1%, HL -1.7%, SLV -1.6%, MT -1.3%, GDX -1.3%, BBL -1.2%, FCX -1.2%, RIO -1%, GLD -0.7%, BHP -0.5%,

 

 

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In Play

On the Wires 

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Boeing gets a $21.7 billion dollar deal

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What are they smoking in St. Louis ?

” Europe’s persistent debt crisis is likely to “tumble along” for an extended period of time but not have much effect on the U.S., St. Louis Federal Reserve President James Bullard told CNBC.”

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