Upgrades

OPEN – OpenTable upgraded to Equal Weight from Underweight at Barclays

CLH – Clean Harbors target raised to $73 from $66 at RBC

FCX – Initiated with an Overweight at Barclays

ANR – Alpha Natural Resources initiated with an Overweight at Barclays

MDT – Medtronic  initiated with Outperforms at Credit Suisse

BTU – Initiated with an Overweight at Barclays

NUAN – Nuance Communications target raised to $30 at Oppenheimer

FN – Fabrinet upgraded to Buy at Collins Stewart

AKS – AK Steel initiated with an Overweight at Barclays

AEM – Agnico-Eagle Mines upgraded to Buy at Dahlman Rose

TEVA – Teva Pharma upgraded to Overweight from Equal Weight at Morgan Stanley

TEN – Tenneco initiated with Buy at Lazard

STJ – St. Jude Medical initiated with a Neutral at Credit Suisse

NTRI – Nutrisystem upgraded to Buy from Neutral at Janney Montgomery Scott

SSS – Sovran Self Storage downgraded to Hold from Buy at KeyBanc

NLY – Annaly Capital Mgmt upgraded to Outperform from Market Perform at Wells Fargo

AOL – AOL target raised to $18 from $15 at RBC

ABCO – Advisory Board upgraded to Buy at Stifel Nicolaus

TSRA – Tessera Tech upgraded to Buy from Neutral at Davenport

Downgrades

SLF – Sun Life downgraded to Underperform from Neutral at Credit Suisse

EPR – Entertainment Properties downgraded to Neutral from Buy at Janney Montgomery Scott

COL – Rockwell Collins downgraded to Underperform from Buy at BofA/Merrill

HXL – Hexcel downgraded to Neutral from Buy at BofA/Merrill

DRI – Darden Restaurants downgraded to Neutral from Buy at Janney Montgomery Scott

DNDN – Dendreon downgraded to Neutral from Buy at Goldman

CYH – Community Health downgraded to Sell from Neutral at Goldman

CNP – CenterPoint downgraded to Market Perform from Outperform at BMO Capital

HNT – Health Net downgraded to Neutral from Buy at Goldman

CLX – Clorox moving to Underperform from No Rating at BofA/Merrill

WBMD – WebMD Health downgraded to Hold at Stifel Nicolaus

CHKP – Check Point Software downgraded to Equal Weight at Morgan Stanley

RNOW – Rightnow Tech downgraded to Neutral from Overweight at Piper Jaffray

CAKE – Cheesecake Factory downgraded to Neutral from Buy at Janney Montgomery Scott

CECO –  Career Education downgraded to Hold at Wunderlich

EZCH – EZchip downgraded to Neutral from Buy at Chardan Capital Markets

TDW – Tidewater downgraded to Hold at Argus

FBM – Furniture Brands downgraded to Underperform from Mkt Perform at Raymond James

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Gapping up

TSLA +2.4%, CS +1.4%, BCS+1%, ANIK +15.9%, MELI +15.1%, FIO +14.1%, THQI +11.7%, HURN +9.7%,

QGEN +9.5%, QCOM +9.2%, CACI +8.8%, AEO +8.7%, Z +6.5%, ALU +5.9%, NQ +5.2%, TCAP +5%, EW +4.9%,

TS +4.7%, TSO +4.5%, WLL +4.2%,

Gapping down

FCX -2%, C -2%, CLWR -2%, IVR -1.9%, TGP -4.9%, ZIP -4.9%, PPO -4.8%, WFM -4.3%, LNC -4.2%, PRU -2.5%,

RIG -10.7%, NTRI -10.3%, HNSN -9.2%, KAMN -8.9%, SWIR -8.7%, IO -8.3%, DVAX -7.7%, INTT -6.1%, HIG -5.7%,

EDR -5.3%, DNDN -23.5%, VVTV -19.6%, ATRN -17.3%, RLD -13.7%, WBMD -12.6%, WFR -11.8%,

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In Play

On the Wires

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From the ground up

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Too many bullish signals

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Upgrades

SYY – Sysco initiated with a Market Perform at BMO Capital

FFIV – F5 Networks initiated with an Outperform at JMP Securities

SAM – Boston Beer Co upgraded to Buy from Underperform at Credit Agricole

LMOS – Lumos Networks initiated with a Strong Buy at Raymond James

WTI – W&T Offshore upgraded to Buy from Underperform at Credit Agricole

MMS – MAXIMUS initiated with an Outperform at Raymond James

SOHU – Sohu.com upgraded to Buy from Hold at Deutsche Bank

KCG – Knight Capital Group upgraded to Outperform from Mkt Perform at Raymond James

GHDX – Genomic Health upgraded to Buy from Neutral at Ladenburg

TLEO – Taleo target raised to $37 from $35 at Stifel Nicolaus

IPI – Intrepid Potash initiated with Neutrals at UBS

MON – Monsanto initiated with a Neutral at UBS

ARO – Aeropostale upgraded to Neutral from Sell at Goldman

GPS – Gap upgraded to Positive from Neutral at Susquehanna

CRI – Carter Holdings upgraded to Market Perform from Underperform at BMO Capital

OPEN – OpenTable assumed with a Buy from Hold at ThinkEquity

EOG – EOG Resources upgraded to Outperform from Market Perform at Bernstein

P – Pandora Media initiated with an Outperform at BMO Capital

ARUN – Aruba Networks initiated with an Outperform at JMP Securities

NKE – Nike upgraded to Buy from Neutral at Goldman

UA – Under Armour upgraded to Buy from Neutral at Goldman

ARMH – ARM Holdings upgraded to Outperform from Market Perform at BMO Capital

JOYG – Joy Global initiated with an Equal Weight at Morgan Stanley

PPS – Post Properties upgraded to Strong Buy from Outperform at Raymond James

ST – Sensata Tech initiated with an Overweight at Morgan Stanley

Downgrades 

GEOY – GeoEye downgraded to Hold from Buy at Canaccord Genuity

INTC – Intel downgraded to Market Perform from Outperform at BMO Capital

ECA – EnCana downgraded to Neutral from Buy at BofA/Merrill

DE – Deere initiated with an Underweight at Morgan Stanley

GLW – Corning downgraded to Underweight from Neutral at JP Morgan

ANF – Abercrombie & Fitch removed from Conviction Buy List at Goldman

TXRH – Texas Roadhouse downgraded to Neutral from Outperform at Credit Suisse

OKS – ONEOK Partners downgraded to Hold at Stifel Nicolaus

XYL – Xylem initiated with a Neutral at Goldman

OSK – Oshkosh Truck downgraded to Underperform from Neutral at Sterne Agee

CCG – Campus Crest Communities downgraded to Outperform from Strong Buy at Raymond James

TNS – TNS Inc downgraded to Neutral from Buy at Suntrust

WSH – Willis Group downgraded to Neutral from Buy at Suntrust

ATML – Atmel downgraded to Buy at Needham

SAI – SAIC downgraded to Underperform from Sector Perform at RBC Capital

PX – Praxair downgraded to Hold at Argus

EXPD – Expeditors Intl downgraded to Neutral from Buy at Suntrust

CECO – Career Education downgraded to Underperform from Outperform at William Blair

THS – TreeHouse Foods downgraded to Market Perform from Outperform at Wells Fargo

DMND – Diamond Foods downgraded to Neutral from Buy at Janney Montgomery Scott

MANT – ManTech downgraded to Hold from Buy at EarlyBirdCapital

GNRC – Generac downgraded to Market Perform from Outperform at William Blair

SSW – Seaspan downgraded to Hold from Buy at Deutsche Bank

ASIA – Asia Info downgraded to Equal Weight from Overweight at Morgan Stanley

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Gapping up

PLT +1.8%, WPRT +1.6%, AIG +1.2%, UNM +1%, FNSR +3.2%, ARMH +2.3%, SNCR +2.3%, WMB +2.2%,

HRBN +2.1%, SLV +1.8%, KTCC +12.4%, MGIC +8%, SGY +7.2%, SIMO +6.8%, FRPT +6.3%, MRGE +6.3%,

OPXT +6.2%, FIRE +5.5%, BHI +5.3%, JDSU +4.6%,

Gapping down 

ACAS -3%, DYN -2.6%, ING -1.2%, BCS -1.1%, TLEO -1.1%, OPEN -14.2%, THOR -13.3%, WMGI -12.6%,

DMND -11.1%, RLOC -8.4%, CGNX -5.8%, CCUR -5.1%, SANM -4.8%, ATML -4.8%, LYG -4.6%, HAIN -4.5%,

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In Play

On the Wires

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Nothing has change other than bailing out the banks; which have become even larger. Also given the 40:1 leverage MF Global had it is almost certain there are more shoes to drop.

Full article

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“….“We are becoming increasingly persuaded that QE3 is coming, this time focused on purchases of mortgage-backed securities,” said Dana Saporta, U.S. economist at Credit Suisse in New York. “The best guess is at this meeting they’ll try to build some consensus around the idea and lay the groundwork for eventual purchases…..”

Full article

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The company says it has been “shunning” risk.

Full article

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Just make it quick guy

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Full article

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Everyone needs a shopping list when the market bottoms.

Full article

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Chocked full of nutz

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I say even if they are performing to break them up….

Full article

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“The European debt crisis is causing investors to dramatically increase their estimates of sovereign risk. But another part of the sovereign universe is taking on risk rather than fomenting it.

Sovereign wealth funds have been diversifying their portfolios away from cash and moving into equities and alternative investments, the International Monetary Fund reports in its latest Global Financial Stability Report. Sovereign funds, like many institutional investors, appear to be moving out on the risk curve in a search for returns in today’s low interest rate environment. Australia’s Future Fund and China Investment Corp. reduced their cash holdings by more than 50 percent between December 2007 and December 2010, and increased allocations to equities, alternatives and bonds.

When these sovereigns say “risk on,” the world may be able to breathe a little easier. ”

Slideshow

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Say it isn’t so…

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Really?…let’s hope not

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Upgrades

C – Citigroup upgraded to Outperform from Neutral at Credit Suisse

CAE – CAE initiated with an Outperform at Scotia

AGP – Amerigroup upgraded to Neutral from Underperform at BofA/Merrill

SFY – Swift Energy initiated with a Buy at Brean Murray

KIOR – KiOR resumed with a Neutral from Buy at Citigroup

LEAP – Leap Wireless target raised to $18 at Hudson Square Research

PPS – Post Properties upgraded to Neutral from Underweight at JP Morgan

XYL – Xylem initiated with a Neutral at Robert W. Baird

 

Downgrades

PANL – Universal Display initiated with an Underweight at Piper Jaffray

BCS – Barclays PLC downgraded to Neutral from Buy at UBS

TEF – Telefonica S.A. downgraded to Hold from Buy at Deutsche Bank

HL – Hecla Mining downgraded to Market Perform from Outperform at BMO Capital

TRNX – Tornier downgraded to Neutral from Overweight at JP Morgan

NUVA – NuVasive downgraded to Mkt Perform at Rodman & Renshaw

OSIS – OSI Systems downgraded to In Line at Imperial Capital

AVP – Avon Products downgraded to Hold from Buy at Jefferies

ARMH – ARM Holdings initiated with a Hold at Canaccord Genuity

RYL – Ryland Group downgraded to Hold from Buy at Keybanc

LM –  Legg Mason downgraded to Sell at Ticonderoga

VOLC – Volcano downgraded to Market Perform from Outperform at JMP Securities

CRK – Comstock downgraded to Hold at Stifel Nicolaus

SKT – Tanger Factory downgraded to Hold from Buy at Jefferies

ACN – Accenture downgraded to Equal Weight from Overweight at Barclays

CHH – Choice Hotels downgraded to Neutral from Buy at Nomura

BAP – Credicorp LTD downgraded to Underweight from Neutral at HSBC

NVDA – NVIDIA downgraded to Hold from Buy at Canaccord Genuity

CP – Canadian Pacific downgraded to Market Perform from Outperform at BMO Capital

HMY – Harmony Gold initiated with a Buy at Deutsche Bank

AU – Anglogold initiated with a Buy at Deutsche Bank

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