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Upgrades and Downgrades This Morning


NFLX – Netflix upgraded to Buy at Hudson Square Research

SGY – Stone Energy initiated with a Buy at Global Hunter Securities

REGN – Regeneron Pharms upgraded to Outperform from Market Perform at Leerink Swann

CP – Canadian Pacific downgraded to Underweight from Neutral at JP Morgan

VAL – Valspar upgraded to Buy from Neutral at Citigroup

CSGP – CoStar Group resumed with a Buy at Needham

ALB – Albemarle upgraded to Neutral from Underperform at BofA/Merrill

AMTD – TD Ameritrade upgraded to Buy from Outperform at Credit Agricole

NOK – Nokia initiated with a Outperform at Northland Securities


SM – SM Energy initiated with an Overweight at Barclays

FSLR – First Solar downgraded to Hold from Buy at Jefferies

BTU – Peabody Energy target lowered to $50 at Brean Murray

POL – PolyOne downgraded to Market Perform from Outperform at Wells Fargo

DTE – DTE Energy downgraded to Equal Weight from Overweight at Barclays

CHRW – C.H. Robinson downgraded to Neutral from Buy at BofA/Merrill

ALV – Autoliv downgraded to Hold from Buy at Keybanc

HGSI – Human Genome downgraded to Hold from Buy at Brean Murray

YOKU – Youku.com downgraded to Neutral from Positive at Susquehanna

HCN – Health Care REIT initiated with an Overweight at Barclays

YGE – Yingli Green Energy downgraded to Neutral at Collins Stewart

FFIV – F5 Networks target raised to $100 from $92 at Stifel Nicolaus

CE – Celanese downgraded to Neutral from Buy at Citigroup

MET – MetLife downgraded to Neutral from Overweight at Atlantic Equities

SDRL – Seadrill Ltd downgraded to Equal Weight at Johnson Rice

DGX – Quest Diagnostics downgraded to Neutral from Outperform at Macquarie

MG – Mistras Group downgraded to Hold at KeyBanc Capital Mkts

DV – DeVry downgraded to Neutral from Overweight at JP Morgan

NUS – Nu Skin target raised to $51 from $46 at Stifel Nicolaus

RSH – RadioShack downgraded to Neutral from Buy at Goldman

NYT – New York Times downgraded to Neutral from Buy at Citigroup

AMZN – Amazon.com target lowered to $265 from $280 at Stifel Nicolaus

FIRE – Sourcefire downgraded to Neutral from Buy at Citigroup

ING – ING Group downgraded to Underperform from Neutral Exane BNP Paribas

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Gapping up and Down This Morning

Gapping up

BBL +1.3%, MAR +1.2%, BCS +1%, MCK +4%, DVAX +3.9%, LIFE +3.9%, ESRX +3.3%, DB +1.9%, UBS +1.8%,

SLV +1.4%, ACGL +1.4%, QCOR +13.4%, PNRA +10.2%, FFIV +8%, VLO +6.7%, SXL +5.3%, MTW +5.2%, ANH +3.9%

VAL +1.6%,  MAR +1.2%, SDRL +1.9%, TOT +1.1%, CHK +1.1%, E +1%, AG +2.1%, FCX +1.8%, BBL +1.3%,

SLW +0.9%, BHP +0.4%, GLD +0.2%,

Gapping down

BRCM -4.9%, RSH -4.4%, MET -4.2%, CENX -3.9%, TJX -3.7%, DWA -1.7%, HGSI -13.6%, AMZN -11%,

DV -8.9%, MASI -6%, FTI -5.2%,

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Upgrades and Downgrades This Morning


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


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

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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%,

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Herman Cain Faces Scrutiny from the Left

Herman Cain has been attacked by a lot of liberals who think that somehow it’s just not right for a black man to be a conservative. But the latest attack shows how self-serving these attacks really are.

It comes from a bunch of 1960s activists claiming that Cain hasn’t done enough for black people.

Here’s former NAACP leader Julian Bond:

“I am not aware of anything Herman Cain has done to uplift black people specifically.”

Unbelievable. He’s talking about a man whose entire life has been an inspiration..a man who rose up from humble origins to become a mathematician for Navy intelligence, a board member of the Federal Reserve, and a world-class entrepreneur.

The last accomplishment is particularly notable because Godfather’s Pizza employed and empowered thousands of black Americans to work and become owners of their own businesses. And yet because Cain doesn’t endorse liberal policies that have made a lot of civil rights leaders rich — but have done little to lift black Americans out of poverty — he’s called uninspiring, or worse.

Last week I asked famed economist Tom Sowell who offers a more inspiring story for young Americans, President Obama or Herman Cain.

Here’s his answer:

“Oh Herman Cain, because he actually worked and did something. On the one hand you have Barack Obama, who had a privileged upbringing and who never really had responsibility for anything before he was suddenly President of the United States. On the other, you have Herman Cain, who grew up in a low-income family and worked his own way up and actually had to run things.”

There’s certainly no doubt that an African-American president is an inspiration to millions. But no less inspiring is the life story of Herman Cain, whose solid American values of individual initiative and self reliance are an inspiration to all.

Read more: http://www.foxbusiness.com/markets/2011/10/21/herman-cains-life-inspiration/#ixzz1bXUSteuc

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IRONY ALERT: Occupy Wall Street Drummers Demand $8,000

Last night’s General Assembly meeting in Zuccotti Park was “one of most contentious ever,” in large part due to a heated debate over whether the drummers at Occupy Wall Street should be given $8,000 from the movement’s coffers to buy more drums and equipment. It seems some of the drums were stolen or vandalized, and the drummers asked the General Assembly to help them regroup. “We have worked for you! Appreciate us,” one drummer told the crowd, but the appeal was denied, and the Huff Post’s Craig Kanalley tweeted, “Drummer who didn’t get money from GA tonight now yelling, cursing at members of GA.” Meanwhile, another member of the drum corps was lashing out at the Community Board meeting.

Full article

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Opinion: ‘Occupy Wall Street’ Drones Mindlessly Repeat Whatever Frances Fox Piven Says #OWS

The inevitable raids on their stuff by homeless addicts vomiting their way across the makeshift camps has already given rise to a kind of Occupy camp security, the most basic duty of a government. And note, one that isn’t being performed well on our border, but the Occupiers don’t care about that.

Next will come a kind of feudalism, as various Occupation (without vocation) voices vie for power and control and minions form factions. And after that, the revolution will become just another institution. That’s the arc of history, being played out by college students who probably don’t even know enough history to be able to grasp the irony of it all.

Until the Occupiers vault from their primitive state to a Leninist oligarchy (a process which should take another week or so), supposing they don’t just dissolve once they realize that camping out in urban parks paid for by others is no way to go through life or feed yourself, let’s enjoy their principled devotion to Luddism. The Occupiers apparently don’t like modern sound amplification equipment. Maybe because they’re taking a principled stand against the corporations that manufacture speakers and wire. Maybe it’s because they’re objecting to the non-green sources of electricity that such equipment demands. Maybe they’re still mad at Bob Dylan’s Woodstock set. Or maybe it’s because they couldn’t get their billionaire backers to spring for the speaker rental fees and power lines. Who knows, and who cares, really? When the attitude and the moment produce an anvil chorus of Commies cheerfully, mindlessly aping whatever an aging radical hippie professor says to them, it’s gold. It’s also a mild form of brainwashing, which uses the pressure of the group and chant to create and enforce conformity.

Full Article

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Alec Baldwin Defends Capitalism at #OWS

“You cannot not have strong capital markets in this country or the country is going to go down the tubes,” he said. “I think most people want change in this country but they don’t want the country to go down the tubes. They don’t want the country to become England.”

Full article

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Will General Winter Defeat the #Occupy #OWS Movement?

The Occupy Wall Street movement is ending its fifth week, and despite its successes so far, people are starting to ask what comes next.

After sparking protests nationwide and globally on October 15 and garnering massive media coverage, the movement now faces fresh challenges. How will it combat media fatigue, cold weather, and how will it focus its demands?

“At some point, as with any tactic, one has to find a second act. That’s true with any movement,” said Michael Kazin, a professor of social movements at Georgetown University and co-editor of the magazine Dissent.

“I hope that the protesters are flexible enough to be talking about what the next step will be once most of them leave the park,” said Kazin. “I don’t think the media’s going to be writing about so many people sitting in the park if they’re still there in December.”

Going into last week, the Occupy movement had a target, in the form of the global October 15 protests. It provided a date, a place, even a convenient Twitter hashtag to mobilize allies.

With that achieved, though, there is less of a sense of the next big thing. Organizers are starting to talk about Bank Transfer Day, a November 5 action for supporters to withdraw funds from big banks in favor of credit unions, but that is still more than two weeks hence.

Momentum may be flagging. Twitter activity around the core “OccupyWallSt” hashtag has steadily declined since the October 15 events, according to Trendistic. Meanwhile, heavy rains Wednesday drove about half the protesters out of lower Manhattan’s Zuccotti Park.

But veteran New York protesters say that as the movement evolves, staying out in the park will become less important.

“There’s going to be a challenge in maintaining the same scale of a presence in the plaza in New York City in winter time but I think the movement is becoming more mobile,” said Louis Guida, a union organizer and protest veteran. “There may not be a thousand people camping out in the park all winter long, but it’s not a camping trip, it’s a protest movement.”


The protesters of Occupy Wall Street have faced down the police and the city but perhaps its biggest challenger will be the bitter New York winter. Daytime temperatures are dropping into the upper 50s this week and overnight is heading to the freezing point — two months before winter’s official start in December.

“Temp(eratures) will be colder starting this weekend, dropping each night during the next two weeks leading up to temps in the 30s,” Nicholas Isabella, the protesters’ meteorologist, told Reuters via Twitter.

Isabella, a trained forecaster who now finds himself working on a dinner boat around Manhattan, said he stressed to his compatriots the need to prepare for winter. Huddled over a laptop in the center of the park, he has been something of a lone voice among the more immediate needs of food and shelter.

The occupation’s first cold-weather committee met Wednesday night, following a day of pouring rain.

“People sometimes don’t realize that the only thing keeping you warm is your own body, so it’s not (about) keeping the cold out, it’s keeping the warmth inside your body,” said Robert Burke of Outward Bound in the borough of Queens who teaches urban-based courses for New York City schools.

Some of protesters already have thermal blankets and there is talk of building snow berms to shelter from wind.

Medical professionals say protesters will run the same risks many of the city’s homeless face in winter.

“What we wind up seeing with the homeless in particular is injuries to their feet and hands,” said Lisandro Irizarry, the chairman of the emergency medicine department at Brooklyn Hospital Center.

He said people usually manage to keep their hands warm but that feet, particularly when wet, cause significant loss of heat, leading to injuries.

Other cold-weather experts offered some sage advice that most New Yorkers already know, but some tend to forget.

“Your head does not have a lot of fat,” said Amy Saxton, a former winter dog sledding course instructor in northern Minnesota who also works for Outward Bound. “It’s your body’s chimney. The heat flows right up and out of your head. It’s the most critical piece of clothing. Hat before gloves, hat before coat. Hat, hat, hat.”


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FLASHBACK: CNBC is the Rumor Mill Empire of the World

In response to Jim Cramer’s attack on blogs this morning, besmirching their information as rumor mill, I wanted to remind people that of the unassailable fact that CNBC is the most irresponsible and destructive news outlet in the world, more so than Fox news. From Cramer’s Bear Stearn’s rumors to Liesman’s EFSF rumors to Gasparino’s unbelievable daily Ambac rumors, they are the worst offenders.


Shame on the house of CNBC

[youtube:http://www.youtube.com/watch?v=ChokGbJdeSM 603 500] [youtube:http://www.youtube.com/watch?v=gUkbdjetlY8 603 500]

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