In Play and On the Wires
Upgrades and Downgrades This Morning
Upgrades
POT- Stifel’s latest price deck supports higher 2011 and 2012 earnings ests for fertilizer producers
NGG- National Grid upgraded to Hold from Sell at RBS
F- In-line March auto sales, supportive for OEMs and parts suppliers – RBC
CSX – CSX downgraded to Hold at Stifel Nicolaus
SPLS – Staples: Sales still soft, but components of rebound in place – Oppenheimer
HRS – Hearing upgraded at Suntrust
TZOO- March local deals growth strong (+25%); raising estimates on higher growth; raising target to $80 – Wedbush
KNXA – Kenexa target raised to $33 from $28 at Feltl & Co.; Q1 checks detail further elevated demand
ROK – Rockwell Automation target raised to $105 from $95 at Longbow
GOOG – Google: International checks solid; consensus margins appear conservative – RBC Capital Mkts
VZ – Verizon: RBC is raising their tgt to $41 from $39 on higher wireless ARPU estimates for 2011 and beyond
AAPL – Apple leverages market leadership during supply chain disruption, strong iPad 2 launch; target raised to $480 at Canaccord Genuity
PRFT – Perficient tgt raised to $15 at BGB Securities following Exervio acquisition
Downgrades
RAX- Rackspace downgraded to Market Perform from Strong Buy at Raymond James
ADS – Alliance Data downgraded to Market Perform from Outperform at Keefe Bruyette
Comments »Wall Street’s Trading Revenue Expected To Drop
S&P Marks The Largest Gain in Profits in 100 Years
Micron’s CEO Sells 225k Shares
Why Did the Fed Bailout Libyan Banks ?
Government Math is Always Wrong
How is it that congressional studies and government math is always a fraction of real costs?
Comments »Japan’s Disaster May Stoke Inflation
Pre-Market Movers: Gapping Up and down
Gapping Up
MSSR +19.4%, LB +9.5% , LVS +3.1%, MPEL +2.8%, WYNN +2.2%, VVUS +15.7%, AIB +9.3% ,IRE +7.9%, CTIC +7.3%, INHX +6.8%, TSEM +6.7%, OREX +6.6%, CYCC +5.5%, MCP +4.6%, IDRA +3.8%, RRR +2.8%,GIII +1.2%, CCL +1.3%, PFE +1.3%, BP +1.2%, GE +1%,VOD +0.9%,ACGL +1.1%,F +1.1%
Gapping Down
AMIE -78.6%, LUV -5.3%, LOGI -2.1%
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