Yearly Archives: 2011
BofA Dumps Derivatives Risk Onto John Q Public
HUSSMAN: STOCKS AREN’T PRICING IN THE COMING RECESSION
Consumer Confidence: Prior 45.4, Market Expects 46, Actual 39.8…Richmond Fed Comes in @ -6
An Update on European Folly
Euro Plunges On Tomorrows Bailout Meeting Being Canceled
Dollar Approaching Critical Levels
UK: NO EUROZONE FINANCE MINISTERS MEETING WEDNESDAY
Things are falling apart in Europe.
Comments »FLASH: GERMAN GOVERNMENT AND MAIN OPPPOSITION PARTIES AGREE ON JOINT MOTION FOR EFSF LEVERAGE – GOVT SOURCE –
Euro rallying on the news.
Comments »FLASH: Cummins Warns
Upgrades and Downgrades This Morning
Upgrades
YZC – Yanzhou Coal Mining initiated with a Market Perform at Bernstein
PTR – PetroChina upgraded to Neutral from Sell at Goldman
CWT – California Water upgraded to Buy from Neutral at Janney Montgomery Scott
NKE – Nike initiated with a Buy at Auriga
LOW – Lowe’s upgraded to Buy from Neutral at Janney Montgomery Scott
HUBG – Hub Group downgraded to Hold at Stifel Nicolaus
T – AT&T downgraded to Market Perform from Outperform at Bernstein
DRI – Darden Restaurants added to Top Picks Live list at Citigroup
STJ – St. Jude Medical upgraded to Buy from Neutral at Mizuho
WRC – Warnaco Group downgraded to Market Perform from Outperform at Wells Fargo
TDC – Teradata initiated with a Neutral at UBS
JASO – JA Solar upgraded to Overweight from Neutral at Piper Jaffray
SIG – Signet Jewelers initiated with a Neutral at Northcoast
WSH – Willis Group upgraded to Overweight from Equal Weight at Barclays
ZQK – Quiksilver initiated with a Buy at Auriga
Downgrades
HS – Healthspring downgraded to Neutral from Outperform at Wedbush
SAN – Banco Santander downgraded to Underweight from Neutral at JP Morgan
FN – Fabrinet downgraded to Hold at Stifel Nicolaus
HTLF – Heartland Finl downgraded to Hold at Stifel Nicolaus
FLWS – 1-800-FLOWERS initiated with a Neutral at Northcoast
SOL – ReneSola downgraded to Neutral from Overweight at Piper Jaffray
NFLX – Netflix downgraded to Neutral from Buy at Goldman
VTR – Ventas downgraded to Hold at Stifel Nicolaus
FRX – Forest Labs downgraded to Hold at Argus
HWAY – Healthways downgraded to Underweight from Hold at BB&T
OHI – Omega Health downgraded to Hold at Stifel Nicolaus
LDK – LDK Solar downgraded to Reduce at Nomura
YGE – Yingli Green Energy downgraded to Neutral at Nomura
VRUS – Pharmasset removed from U.S. 1 List at BofA/Merrill
STM – STMicroelectronics downgraded to Hold from Buy at Natixis
AAN – Aaron’s downgraded to Hold from Buy at BB&T
VECO – Veeco Instruments downgraded to Neutral from Buy at Sterne Agee
Comments »Gapping Up and Down This Morning
Gapping up
EK +2.3%, MT +1.6%, BP +4.8%, SLTM +4.4%, WFT +3.8%, SPEX +23.5%, UIS +22.4%, JASO +8.6%, HXL +7.1%,
FTNT +6.4%,UBS +3.3%, YGE +2.8%, RCII +1.2%, DB +1%, DD +1%, HXL+7.1%, NOV +5.2%, JASO +4.9%, BYD +1.1%,
AEZS +7.9% , SLTM +4.4%, AKS +1.7%, LOW +1%
Gapping down
NFLX – 35%, STM -4.8%, TXN -1.5%, LNT -1.5%, UCTT -11.1%, HWAY -10.5%, RMD -8.5%, VLTR -8.4%,
ANEN -8.4%, ZION -8%, ADES -7.5%, AAN -7.3%, MNTA -15.8%, EMKR -13.6%,
Comments »In Play and on the Wires
Case Shiller Index: Prior -4.1%, market Expects -3.5%, Actual -3.6%
FLASH: Crack Spreads are Collapsing
321 cracks are plunging, down 15% to $22.50.
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