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Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) Cut to Neutral at Piper Jaffray.

A123 Systems, Inc. (NASDAQ: AONE) Cut to Hold at Deutsche Bank.

Chimera Investment Corporation (NYSE: CIM) Cut to Hold at Deutsche Bank.

DirecTV, Inc. (NASDAQ: DTV) Raised to Buy at Citigroup; Reiterated as Buy at Canaccord Genuity.

Freescale Semiconductor Holdings (NYSE: FSL) Started as Neutral at Goldman Sachs.

Hatteras Financial Corporation (NYSE: HTS) Raised to Buy at Deutsche Bank.

IAC/InterActiveCorp (NASDAQ: IACI) Cut to Neutral at Citigroup.

Kinder Morgan Inc. (NYSE: KMI) Started as Equal-weight at Morgan Stanley.

NVIDIA Corporation (NYSE: NVDA) Raised to Market Perform at JMP Securities.

Progressive Corporation (NYSE: PGR) Raised to Outperform at Credit Suisse.

Salesforce.com (NYSE: CRM) Reiterated as Buy and raised target to $180 at Canaccord Genuity.

Verizon Communications Inc. (NYSE: VZ) Cut to Sector Perform at RBC.

Weight Watchers International Inc. (NYSE: WTW) Started as Outperform at Credit Suisse.

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“There’s a fresh note out this morning from Goldman Sachs urging traders to buy gold.

Under our gold framework, US real interest rates are the primary driver of US$-denominated gold prices. However, after being remarkably strong in the first half of 2011, this relationship broke down last fall, with gold prices falling sharply in the face of declining US real rates, as tracked by 10-year

TIPS yields. While gold prices have returned to trading with a strong inverse correlation to US real rates since late December, at sub-$1,700/toz they remain below the level implied by the current 10-year TIPS yields.

We believe that despite last fall’s decline in 10-year TIPS yields, the gold market may have been expecting that real rates would soon be rising along with better economic growth, leading to a sharp decline in net speculative length in gold futures. Accordingly, a simple benchmarking of real rates to
US consensus growth expectations suggested a level of +40 bp by year end. Our models suggest this higher level of real rates would be consistent with the current trading range of gold prices. As we look forward, our US economists expect subdued growth and further easing by the Fed in 2012, which should push the market’s expectations of real rates back down near 0 bp and gold prices back to our 6-mo forecast of $1,840/toz.

Goldman isn’t the only bank to go bullish on gold lately.”

Source

Activision Blizzard, Inc. (NASDAQ: ATVI) Started as Buy at Stifel Nicolaus.

Apollo Group Inc. (NASDAQ: APOL) Cut to Neutral at Credit Suisse.

Bank of America Corporation (NYSE: BAC) Cut to Neutral at Baird.

Buffalo Wild Wings Inc. (NASDAQ: BWLD) Cut to Hold at Deutsche Bank.

Dril-Quip, Inc. (NYSE: DRQ) named as Bear of the Day at Zacks.

Electronic Arts Inc. (NASDAQ: EA) Started as Buy at Stifel Nicolaus.

The Kroger Company (NYSE: KR) named Bull of the Day at Zacks.

Micron Technology Inc. (NYSE: MU) Started as Buy at Jefferies.

Saia Inc. (NASDAQ: SAIA) named as value stock of the day at Zacks.

SanDisk Corporation (NASDAQ: SNDK) started as Hold at Jefferies.

Southern Copper Corporation (NYSE: SCCO) Raised to Overweight at Morgan Stanley.

Vale S.A. (NYSE: VALE) Raised to Overweight at Morgan Stanley.

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S&P 500 Revenues & Earnings

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Baker Hughes Inc. (NYSE: BHI) Cut to Market Perform at Wells Fargo

IntercontinentalExchange, Inc. (NYSE: ICE) named as Bull of the Day at Zacks.

Lexmark International Inc. (NYSE: LXK) Cut to Market Perform at Bernstein.

MGIC Investment Corp. (NYSE: MTG) Started as Market Perform at Keefe Bruyette Woods.

Micron Technology Inc. (NASDAQ: MU) Cut to Perform at Oppenheimer.

Radian Group Inc. (NYSE: RDN) Started as Market Perform at Keefe Bruyette Woods.

Randgold Resources Limited (NASDAQ: GOLD) Cut estimates at Goldman Sachs.

Safeway Inc. (NYSE: SWY) Cut to Neutral at Credit Suisse.

Tesla Motors, Inc. (NASDAQ: TSLA) Raised to Buy at Wunderlich.

XL Group, Plc (NYSE: XL) named as Bear of the Day at Zacks.

Source

Aetna Inc. (NYSE: AET) Cut to Neutral at Goldman Sachs.

Altria Group, Inc. (NYSE: MO) Raised to Outperform at Wells Fargo.

Coventry Health Care, Inc. (NYSE: CVH) Raised to Buy at Goldman Sachs.

Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) Started as Buy at ThinkEquity.

Discover Financial Services (NYSE: DFS) Raised to Conviction Buy List at Goldman Sachs; named Bull of the Day at Zacks.

Excel Maritime Carriers (NYSE: EXM) Cut to Underperform as Bear of the Day at Zacks.

HollyFrontier Corporation (NYSE: HFC) named as value stock of the day at Zacks.

Monster Worldwide, Inc. (NYSE: MWW) Raised to Outperform at Baird.

Reynolds American Inc. (NYSE: RAI) Cut to Market Perform at Wells Fargo.

Xilinx Inc. (NASDAQ: XLNX) Cut to Hold at Auriga.

Zynga Inc. (NASDAQ: ZNGA) Started as Underperform at Needham.

Sources

Accenture plc (NYSE: ACN) Raised to Hold at Soc-Gen.

Allscripts Healthcare Solutions (NASDAQ: MDRX) Cut to Neutral at JPMorgan.

BlackRock Inc. (NYSE: BLK) Cut to Equal Weight at Morgan Stanley.

Focus Media Holding Limited (NASDAQ: FMCN) Raised to Overweight at JPMorgan.

Frontline Ltd. (NYSE: FRO) Cut to Underperform at Wells Fargo.

Home Depot Inc. (NYSE: HD) Reiterated Outperform and raised target to $55 at Credit Suisse.

Inergy L.P. (NYSE: NRGY) Started as Outperform at Credit Suisse.

Jarden Corporation (NYSE: JAH) named as Value stock of the day at Zacks.

Kinder Morgan. Inc. (NYSE: KMI) Raised target price to $36 from $32 at Credit Suisse.

LinkedIn Corporation (NYSE: LNKD) Raised to Buy at Goldman Sachs.

Loews Corporation (NYSE: L) named Bear of the Day at Zacks.

Micron Technology, Inc. (NASDAQ: MU) Started as Outperform at RBC.

OpenTable, Inc. (NASDAQ: OPEN) Raised to Buy at Benchmark.

Oracle Corporation (NASDAQ: ORCL) Raised estimates and maintained on Focus List at Credit Suisse.

Royal Gold, Inc. (NASDAQ: RGLD) Raised to Outperform at National Bank.

U.S. Bancorp (NYSE: USB) named as Bull of the Day at Zacks.

“Goldman Sachs Group Inc. said stocks will probably begin a “steady upward trajectory” over the next few years as any declines in economic growth are already reflected in share prices.

“Given current valuations, we think it’s time to say a ‘long good-bye’ to bonds, and embrace the ‘long good buy’ for equities as we expect them to embark on an upward trend over the next few years,” Peter Oppenheimer, chief global equity strategist at Goldman Sachs in London, wrote in a report today.

The prospects for returns in equities versus bonds “are as good as they have been in a generation,” he wrote.

The Stoxx Europe 600 Index (SXXP) is trading at 11.2 times estimated earnings, compared with an average of 11.8 over the past five years, according to data compiled by Bloomberg. The index dropped 11 percent last year as policy makers tried to stop Greece’s sovereign-debt crisis from spreading.

“Periods of sustained falls in the market are typically better times to buy for the long run,” Oppenheimer wrote. “Partly, of course, this is also a function of valuations typically improving after a period of sustained losses in the market. Nonetheless, the key point is that in particularly bad economic periods, once the news is fully priced, investment outcomes tend to improve.”

Read more

Silly 

Source

Adobe Systems Inc. (NASDAQ: ADBE) Raised to Sector Perform at RBC.

Airgas Inc. (NYSE: ARG) Started as Overweight at Morgan Stanley.

Air Products and Chemicals, Inc (NYSE: APD) Started as Underweight at Morgan Stanley.

Apple Inc. (NASDAQ: AAPL) Reiterated at Buy and raised target to $740 at Stern Agee; Reiterated Buy and raised target to $700 at Credit Suisse.

ARM Holdings PLC (NASDAQ: ARMH) Raised to Overweight at Barclays.

CA Inc. (NASDAQ: CA) Cut to Sector Perform at RBC.

Digital River Inc. (NASDAQ: DRIV) Cut to Sector Perform at RBC.

Domino’s Pizza Inc. (NYSE: DPZ) Cut to Underperform at BofA/ML.

Guess? Inc. (NYSE: GES) named as Bear of the Day at Zacks.

Harley-Davidson, Inc. (NYSE: HOG) Raised to Outperform at BMO.

Kinder Morgan Inc. (NYSE: KMI) Cut to Underperform at BofA/ML.

Lions Gate Entertainment Corporation (NYSE: LGF) Started as Overweight at JPMorgan; Hunger Games looks larger than Twilight.

OmniVision Technologies, Inc. (NASDAQ: OVTI) Raised to Buy at Needham.

United Parcel Service (NYSE: UPS) Cut to Hold at Stifel Nicolaus.

United Technologies Corporation (NYSE: UTX) Reiterated near-term Hold and long-term Buy.

Source

Arch Coal Inc. (NYSE: ACI) Cut to Sell at Goldman Sachs.

Caesars Entertainment Corporation (NASDAQ: CZR) Started as Hold at KeyBanc; Started as Hold at Deutsche Bank.

Capital One Financial Corporation (NYSE: COF) Raised to Buy at Jefferies.

E*TRADE Financial Corporation (NASDAQ: ETFC) Raised to Outperform at Wells Fargo.

Gap Inc. (NYSE: GPS) Raised to Outperform at BMO.

Nucor Corporation (NYSE: NUE) Raised to Buy at UBS.

Patriot Coal Corporation (NYSE: PCX) Raised to Neutral at Goldman Sachs.

Sprint Nextel Corporation (NYSE: S) Cut to Underperform at Bernstein.

Trina Solar Limited (NYSE: TSL) Started as Equal weight at Barclays.

United Parcel Service (NYSE: UPS) Raised to Overweight at JPMorgan.

Wynn Resorts Limited (NASDAQ: WYNN) Reiterated Buy and target raised to $140 at Citigroup.

Yingli Green Energy Holding Co. (NYSE: YGE) Started as Equal-weight at Barclays.

Yum! Brands Inc. (NYSE: YUM) Started as Outperform at Oppenheimer.

Source

Apple Inc. (NASDAQ: AAPL) has seen targets raised this morning by Oppenheimer to $700 and by UBS to $675; see the strange downgrade from Thursday.

BlackRock, Inc. (NYSE: BLK) Cut to Hold at Deutsche Bank.

Buffalo Wild Wings, Inc. (NASDAQ: BWLD) Cut to Neutral at Wedbush.

Coach. Inc. (NYSE: COH) Raised estimates and target to $83 from $75 at Credit Suisse; Started as Buy with $90 target at Argus.

Corn Products International Inc. (NYSE: CPO) named as Value stock of the day at Zacks.

General Motors Co. (NYSE: GM) Cut target to $29 from $30 at Jefferies.

KB Home (NYSE: KBH) named Bear of the Day at Zacks.

The Kroger Company (NYSE: KR) named as Bull of the Day at Zacks.

Microsoft Corporation (NASDAQ: MSFT) Raised to Buy with $39 target at Argus.

Morgan Stanley (NYSE: MS) Cut to Hold at Deutsche Bank.

Northern Trust Corporation (NASDAQ: NTRS) Started as Neutral with $49 target at BofA/ML.

Red Hat Inc. (NYSE: RHT) Cut to Equal-weight at Morgan Stanley.

SBAC Communications Corporation (NASDAQ: SBAC) named as Top Pick at Credit Suisse.

Synovus Financial Corporation (NYSE: SNV) Cut to Neutral at Credit Suisse.

TD Ameritrade Holding Corporation (NASDAQ: AMTD) Cut to Hold at Deutsche Bank.

Veolia Environnement (NYSE: VE) Raised to Neutral from Sell at UBS.

Source

Standard & Poor’s Ratings Services said it assigned a CCC rating to new bonds issued byGreece.

The ratings company said its sovereign credit ratings on Greece will remain at selective default until the exchange is concluded, which may occur by April 11. After the exchange, S&P said it will likely assign a rating of CCC to Greece.

Source

Advanced Micro Devices, Inc. (NYSE: AMD) Raised to Buy at Jefferies.

Aixtron SE (NASDAQ: AIXG) Raised to Buy at Deutsche Bank.

Celgene Corporation (NASDAQ: CELG) Started as Buy at Stifel Nicolaus.

Dendreon Corporation (NASDAQ: DNDN) Started as Hold at Stifel Nicolaus.

Digital Realty Trust (NYSE: DLR) Cut to Hold at Jefferies.

eBay Inc. (NASDAQ: EBAY) Cut to Neutral at Credit Suisse.

IntercontinentalExchange, Inc. (NYSE: ICE) named Bull of the Day at Zacks.

Joy Global, Inc. (NYSE: JOY) Cut to Neutral at UBS.

Level 3 Communications, Inc. (NASDAQ: LVLT) Raised to Buy at BofA/ML.

Norfolk Southern Corporation (NYSE: NSC) Cut to Equal Weight at Barclays.

RadioShack Corporation (NYSE: RSH) named Bear of the Day at Zacks.

SeaCube Container Leasing Limited (NYSE: BOX) named as value stock of the day at Zacks.

Veeco Instruments Inc. (NASDAQ: VECO) Raised to Buy at Deutsche Bank.

Ernst & Young reduces their estimates by 0.5% vs the previous estimate of just 0.1%…..

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“President Obama’s national health care law will cost $1.76 trillion over a decade, according to a new projection released today by the Congressional Budget Office, rather than the $940 billion forecast when it was signed into law.

Democrats employed many accounting tricks when they were pushing through the national health care legislation, the most egregious of which was to delay full implementation of the law until 2014, so it would appear cheaper under the CBO’s standard ten-year budget window and, at least on paper, meet Obama’s pledge that the legislation would cost “around $900 billion over 10 years.” When the final CBO score came out before passage, critics noted that the true 10 year cost would be far higher than advertised once projections accounted for full implementation.

Today, the CBO released new projections from 2013 extending through 2022, and the results are as critics expected: the ten-year cost of the law’s core provisions to expand health insurance coverage has now ballooned to $1.76 trillion. That’s because we now have estimates for Obamacare’s first nine years of full implementation, rather than the mere six when it was signed into law. Only next year will we get a true ten-year cost estimate, if the law isn’t overturned by the Supreme Court or repealed by then. Given that in 2022, the last year available, the gross cost of the coverage expansions are $265 billion, we’re likely looking at about $2 trillion over the first decade, or more than double what Obama advertised.

UPDATE: I’ve done another post with additional details from the CBO report.”

Morgan Stanley, the uber Bull of Apple (NASDAQ:AAPL) is raising their Bull case PT to $960 this morning:

They see further upside to AAPL shares on meaningful EPS revisions as their new CY13 base / bull case EPS estimates of $60 / $80 are 24% / 65% above consensus. Firm new official $720 PT (prior $515) conservatively assumes no multiple expansion. AAPL has been added to Morgan Stanley’s Best Ideas list.

Full Story

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AGL Resources, Inc. (NYSE: GAS) named as Bear of the Day at Zacks.

Alcatel-Lucent SA (NYSE: ALU) Raised to Outperform at BMO.

America Tower Corporation (NYSE: AMT) Raised to Overweight at JPMorgan.

Anadarko Petroleum Corporation (NYSE: APC) Raised to Buy at Stifel Nicolaus.

Automatic Data Processing Inc. (NASDAQ: ADP) Maintained Buy with $60 target at Argus.

Chevron Corporation (NYSE: CVX) Maintained Outperform but lowered estimates at Credit Suisse.

Crown Castle International (NYSE: CCI) Cut to Neutral at JPMorgan.

General Electric Co. (NYSE: GE) Maintained Outperform at Credit Suisse.

Genuine Parts Co. (NYSE: GPC) named Bull of the Day at Zacks.

Health Management Associates Inc. (NYSE: HMA) Maintained Hold but cut estimates at Argus.

Juniper Networks Inc, (NYSE: JNPR) Cut to Market Perform at BMO.

Vodafone Group PLC (NYSE: VOD) Cut to Underperform at BNP Paribas.

ZAGG Inc. (NASDAQ: ZAGG) named value stock of the day at Zacks.

Fitch raised Greece 4 levels to stable @ B-

Source

ACE Ltd. (NYSE: ACE) Added to Conviction Buy List at Goldman Sachs.

Apartment Investment & Management (NYSE: AIV) Raised to Outperform at RBC.

Booz Allen Hamilton (NYSE: BAH) Cut to Market Perform at Wells Fargo.

Cablevision Systems Corporation (NYSE: CVC) Cut to Hold at Deutsche Bank.

Honeywell International Inc. (NYSE: HON) Reiterated Buy with $70 target at Argus.

IPC The Hospitalist Company, In (NASDAQ: IPCM) Started as Buy at Citigroup.

Macy’s, Inc. (NYSE: M) named Bull of the Day at Zacks.

Mylan Inc. (NASDAQ: MYL) maintained Buy and raised target to $27 at Argus.

Ultra Petroleum Corp. (NYSE: UPL) Cut to Underperform as Bear of the Day at Zacks.

Urban Outfitters Inc. (NASDAQ: URBN) maintained Neutral but cut estimates at Credit Suisse.

Watson Pharmaceuticals Inc. (NYSE: WPI) Reiterated Buy with $70 target at Argus.