“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.”

Full article

Comments »

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

Comments »

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%,

 

 

Comments »

In Play

On the Wires 

Comments »

Full interview 

Video trouble ? Read here

Comments »

Accusations turn into something more concrete when you do research.

The more you research; the deeper you find the rabbit hole goes.

The lifting of the veil is in full swing!

[youtube://http://www.youtube.com/watch?v=6cqZffMZ_w8 450 300]

Comments »

“China’s economy has a reputation for being strong and prosperous, but according to a well-known Chinese television personality the country’s Gross Domestic Product is going in reverse.

Larry Lang, chair professor of Finance at the Chinese University of Hong Kong, said in a lecture that he didn’t think was being recorded that the Chinese regime is in a serious economic crisis—on the brink of bankruptcy. In his memorable formulation: every province in China is Greece.

The restrictions Lang placed on the Oct. 22 speech in Shenyang City, in northern China’s Liaoning Province, included no audio or video recording, and no media. He can be heard saying that people should not post his speech online, or “everyone will look bad,” in the audio that is now on Youtube.”

Comments »

I’d say higher if we had no EU worries…

Comments »

A four way tie….

Comments »

Upgrades

KEY – KeyCorp upgraded to Outperform from Market Perform at Raymond James

DKS – Dick’s Sporting Goods added to Conviction Buy List at Goldman

SNX – Synnex initiated with a Buy at Collins Stewart

RIMM – Research In Motion upgraded to Neutral from Sell at Goldman

DOW – Dow Chemical initiated with Equal Weight at Morgan Stanley

KITD – Akamai Tech initiated with an Outperform at JMP Securities

FBC – Flagstar Bancorp upgraded to Buy from Hold at Cantor Fitzgerald

CNQR – Concur Tech target raised to $62 at Needham

ARA – Arrow Elec initiated with a Neutral at Collins Stewart

AJG – Arthur J. Gallagher initiated with Hold at Deutsche Bank

LYB – LyondellBasell initiated with Overweight at Morgan Stanley

GNC – GNC Holdings initiated with an Outperform at Wedbush

HTHT – China Lodging initiated with a Buy at Deutsche Bank

TECD – Tech Data initiated with a Neutral at Collins Stewart

KITD – KIT digital initiated with an Outperform at JMP Securities

NBTB – NBT Bancorp downgraded to Neutral from Buy at Guggenheim

GLPW – Global Power Equipment downgraded to Hold at BB&T Capital Mkts

ULTA – Ulta Salon ests and target raised to $85 at Oppenheimer

STD – Banco Santander initiated with a Hold at ING Group

AKAM – Akamai Tech initiated with an Outperform at JMP Securities

BBVA – Banco Bilbao Vizcaya Argentaria initiated with a Buy at ING Group

Downgrades

DELL – Dell downgraded to Sector Perform from Outperform at FBN Securities

VSI – Vitamin Shoppe initiated with a Neutral at Wedbush

BTX – BioTime upgraded to Buy at WBB Securities

AVT – Avnet initiated with a Neutral at Collins Stewart

THC – Tenet Healthcare downgraded to Market Perform from Outperform at Leerink Swann

IM – Ingram Micro initiated with a Neutral at Collins Stewart

SLRC – Solar Capital downgraded to Market Perform from Outperform at Wells Fargo

COO – Cooper Cos downgraded to Market Perform from Outperform at BMO Capital

GLBL – Global Industries downgraded to Underperform from Market Perform at Raymond James

GERN – Geron downgraded to Speculative Buy at WBB Securities

Comments »

In Play 

On the Wires

Comments »

Gapping up

RIMM +2.4%, VELT +4%,  CLNE +3%, AMRN +3.3%, BPAX +5.6%, ADSK +1.9%,  BIOF +5.9%, NG +5%,

Gapping down

RIO -3.7%, A -3.1%, GOLD -2.5%, BHP -2.4%, BBL -2.4%, ZOOM -14%, OZM -7.6%, IDIX -7%, CNQR -3.8%,

SAP -2.2%, BAC -2.1%, BOBE -2.1%, ASML -1.9%, SI -1.9%, BP -1.6%, MT -1.4%, RDS.A -1.4%, SHPGY -1.4%,

PCRX -1.2%, AREX -1%,

Comments »

“Federal Reserve Bank of Dallas President Richard Fisher said regulators should break up so-called too-big-to-fail financial institutions to curtail the risk they pose to financial stability.

“I believe that too-big-to-fail banks are too-dangerous- to-permit,” Fisher said in the text of remarks given in New York today.

“Downsizing the behemoths over time into institutions that can be prudently managed and regulated across borders is the appropriate policy response. Then, creative destruction can work its wonders in the financial sector, just as it does elsewhere in our economy.”

Regulators in the U.S. and abroad have attempted to address the risks posed by such systemically important financial institutions, and if “properly implemented,” the Dodd-Frank overhaul legislation “might assist in reining in the pernicious threat to financial stability,” Fisher said.

Banks deemed too big to fail must hold as much as 2.5 percentage points in additional capital as part of efforts to prevent another financial crisis, global regulators said in June. The additional capital buffers will range from 1 percentage point to 2.5 percentage points, the Basel Committee on Banking Supervision said.

U.S. regulators are also required under the Dodd-Frank financial overhaul legislation to impose heightened standards on the biggest U.S. banks to curtail systemic risk. Last month, MetLife Inc., the nation’s largest life insurer, said the Fed rejected its plan to increase its dividend and resume share purchases. The insurer said it will try to sell its banking businesses, thus reducing government oversight….”

Full article

Comments »

Upgrades

MSTR – MicroStrategy initiated with an Outperform at JMP Securities

LNN – Lindsay Corp initiated with a Hold at Stifel Nicolaus

QLIK – Qlik Tech initiated with an Outperform at JMP Securities

PXD – Pioneer Natural Resources added to Conviction Buy List at Goldman

TCK – Teck Resources initiated with a Buy at Dahlman Rose

TDC – Teradata initiated with an Outperform at JMP Securities

CMS – CMS Energy upgraded to Buy from Neutral at BofA/Merril

AEE – Ameren upgraded to Neutral from Sell at Goldman

MRX – Medicis downgraded to Market Perform from Outperform at Bernstein

MNTX – Manitex Intl initiated with a Mkt Outperform at Rodman & Renshaw

FSC – Fifth Street Finance upgraded to Buy from Neutral at Janney Montgomery Scott

XYL – Xylem initiated with an Equal Weight at Barclays

CFX – Colfax upgraded to Buy from Neutral at UBS

HFC – HollyFrontier upgraded to Buy from Neutral at Goldman

FIRE – Sourcefire initiated with a Buy at BofA/Merrill

CVD – Covance initiated with a Buy at Sterne Agee

WNR – Western Refining added to Conviction Buy List at Goldman

FTNT – Fortinet initiated with a Buy at BofA/Merrill

CRL – Charles River initiated with a Buy at Sterne Agee

HW – Headwaters upgraded to Outperform from Neutral at Wedbush

OKE – ONEOK upgraded to Overweight fromat Morgan Stanley

NSTAR upgraded to Buy from Neutral at BofA/Merrill

A – Agilent upgraded to Buy from Neutral at BofA/Merrill

TIBX – TIBCO Software initiated with an Outperform at JMP Securities

NU – Northeast Utilities upgraded to Buy from Neutral at BofA/Merrill

IDIX – Idenix Pharma upgraded to Outperform from Neutral at Wedbush

Downgrades 

K – Kellogg downgraded to Market Perform from Outperform at Bernstein

MRO – Marathon Oil downgraded to Neutral from Buy at Goldman

WDC – Western Digital downgraded to Hold at Needham

BPL – Buckeye Partners downgraded to Underweight from Equal Weight at Morgan Stanley

CVI –  CVR Energy removed from Conviction Buy List at Goldman

AMGN – Amgen downgraded to Neutral from Overweight at Piper Jaffray

KNX – Knight Transportation downgraded to Underperform from Neutral at Sterne Agee

TSO – Tesoro downgraded to Sector Perform from Outperform at RBC Capital

MEOH – Methanex downgraded to Outperform from Strong Buy at Raymond James

PEG – Public Service downgraded to Neutral at BofA/Merrill

POR – Portland Gen Elec downgraded to Sell from Neutral at Goldman

ICLR – ICON plc initiated with an Underperform at Sterne Agee

STX – Seagate Tech downgraded to Hold from Buy at Deutsche Bank

OVTI – OmniVision downgraded to Hold at Needham

RVBD – Riverbed Technology upgraded to Outperform from Sector Perform at RBC Capital

AAP – Advance Auto downgraded to Hold at Argus

GXP – Great Plains Engy removed from Conviction Buy List Goldman

Comments »

Gapping up

VNET +11.7%, NLST +44.7%, CIM +9.8%, AOB +6.7%, AGO +6%, DKS +4.2%,HD +2%, CAST +17.8%, APC +1.5%,

DTV +1%, RVBD +0.5%, WFM +0.6%

Gapping down

LDK -7.4%, HAFC -7.1%, ING -6.8%, IOC -6.7%, MOTR -6.2%,  GERN -17.7%, MITK -15.3%, GURE -11.8%,

ZAGG -2.4%, KOG -2.3%, TOT -2.3%, DB -1.9%, PVR -5%, URBN -5%, BAC -4.1%, CS -4%, LNKD -3.2%,

LOGI -2.7%, UBS -2.5%,

 

Comments »

In Play

On the Wires

Comments »

Don’t call it a come back just yet…

Comments »

This guy cracks me up….

Comments »

If you did not guess the ECB and the sovereign debt crisis then you are not paying attention.

Full article

Comments »

Upgrades

CSX – CSX upgraded to Buy from Neutral at Sterne Agee

PEG – Public Service target raised to $39 at Ticonderoga

MFA – MFA Mortgage initiated with a Neutral at JP Morgan

CTXS – Citrix Systems initiated with Positive at Susquehanna

SPR – Spirit Aerosystems added to U.S. 1 List at BofA/Merrill

AWH – Allied World Assurance upgraded to Overweight from Neutral at JP Morgan

MWE – MarkWest Energy upgraded to Outperform from Market Perform at Wells Fargo

NLY – Annaly Capital Mgmt initiated with an Overweight at JP Morgan

APKT – Acme Packet upgraded to Outperform from Sector Perform at Pacific Crest

CRM – Salesforce.com upgraded to Buy from Neutral at Citigroup

SNN- Smith & Nephew upgraded to Outperform from Neutral at Exane BNP Paribas

TWTC – Time Warner Tcom upgraded to Overweight from Equal Weight at Morgan Stanley

CAT – Caterpillar added to Conviction Buy list at Goldman

CL – Colgate-Palmolive upgraded to Underperform from Sell at Credit Agricole

Downgrades

COG – Cabot Oil & Gas downgraded to Neutral from Buy at Pritchard

ET – Eaton Vance downgraded to Sell from Neutral at Citigroup

KSU – KC Southern downgraded to Neutral from Buy at Sterne Agee

TSN – Tyson Foods upgraded to Overweight from Neutral at JP Morgan

DSW – DSW downgraded to Neutral from Buy at Citigroup

CBS – CBS downgraded to Neutral from Buy at Nomura

DLB – Dolby Labs target lowered to $35 at Collins Stewart

TEF – Telefonica S.A. downgraded to Neutral from Overweight at JPMorgan

PFE – Pfizer downgraded to Market Perform from Outperform at Leerink Swann

CTRP – Ctrip.com downgraded to Neutral from Positive at Susquehanna

BCS – Barclays PLC downgraded to Sell from Neutral at Goldman

AMGN – Amgen downgraded to Market Perform from Outperform at Leerink Swann

EQT – EQT Corp. downgraded to Neutral from Buy at Pritchard

MDC – MDC Holdings upgraded to Buy from Neutral at Citigroup

HSY – Hershey Foods downgraded to Hold at Argus

RNOW – Rightnow Tech downgraded to Market Perform from Outperform at JMP Securities

GMCR – Green Mtn Coffee downgraded to Hold at Argus

Comments »