A historical view of value and rebounds
Comments »Early Morning Fun: “Let’s Go to the Video Tape” with Cramer on Geithner
Anecdotal Evidence of Things Getting Better
Upgrades and Downgrades This Morning
Upgrades
MSFT – Microsoft initiated with a Long-term Buy at Hilliard Lyons
DELL – Dell initiated with a Buy at Merlin
SUSS – Susser target raised to $21 from $19 at RBC Capital Mkts
HIG – Hartford Financial upgraded to Outperform from Neutral at Credit Suisse
BSYBY – British Sky Broadcasting upgraded to Outperform from Neutral at Exane BNP Paribas
ORCL – Oracle upgraded to Positive from Neutral at Susquehanna
MWV – MeadWestvaco upgraded to Outperform from Market Perform at BMO Capital
AMP – Ameriprise Financial upgraded to Outperform from Neutral at Credit Suisse
PCL – Plum Creek upgraded to Outperform from Market Perform at BMO Capital
LUKOY – Lukoil upgraded to Overweight from Neutral at JP Morgan
TTM – Tata Motors initiated with a Buy at Jefferies
VMED – Virgin Media initiated with an Overweight at Barclays
Downgrades
BAESY – BAE Systems downgraded to Underperform from Neutral at Exane BNP Paribas
EOG – EOG Resources downgraded to Underperform from Neutral at Sterne Agee
BCS – Barclays PLC downgraded to Neutral from Outperform at Exane BNP Paribas
HBC – HSBC Holdings upgraded to Outperform from Neutral at Exane BNP Paribas
JASO – JA Solar downgraded to Underperform from Hold at Jefferies
DNR – Denbury Resources downgraded to Underperform from Neutral at Sterne Agee
GNET – Global Traffic Network downgraded to Neutral at Collins Stewart
PFE – Pfizer downgraded to Equal Weight from Overweight at Barclays
JPM – JPMorgan Chase target lowered to $50 from $54 at RBC Capital Mkts
RBS – Royal Bank of Scotland downgraded to Neutral from Outperform at Exane BNP Paribas
Comments »Gapping Up and Down This Morning
Gapping up
AA +1.3%, HIG +3.2%, BP +4.3%, STD +2.5%, SVM +1.6%, YHOO +2.5%, JAKK +25%, BAC +1.7%, WFC +1.7%, COOL +2.6%, MJN +0.7%, DELL +2.3%, HTS +2%, CSR +2.3% , BCS +1.7%, CS +1.3%, F +1%, NVDA +1.7%,
Gapping down
CQP -6.1%, MVIS -4.8%, RAH -8.4%, EBAY -1.4%, DB -1.4%, TOT -1.3%,
Comments »In Play and On the Wires
China Rumor Dismissed; Wen Jiabao: ” indebted economies must “put their own houses in order,”
FLASH: Geithner Says the IMF and the Fed Have a Big Interest in Helping the ECB, But This is Their Challenge to Handle it Financially Speaking
Cheers on that statement. Geithner also said he thought it was in everyone’s interest to see the crisis resolved so….a hint towrds help form the rest of the world if absolutely needed.
Why Geithner and Cramer Now ?
I always listen up when politicians come out and pitch or give unexpected discussions above and beyond the normal channels of information dissemination.
Geithner is peaking right now and this article suggests how the treasury will have to help the fed kick off operation twist.
Comments »New Plans and Discussions in Europe Outweigh Moody’s Downgrade of SocGen and Credit Agricole; Markets Rally
New Euro Zone Plan to Relieve Collateral Issues
The Austrian Finance Minister has give the media some statements regarding a new plan that would ease the “explosiveness” of collateral; something that has stalled talks and proposal agreements all together.
Comments »European Debt Crisis to Be Temporarily Cured With New Euro Area Bonds
Commission president Barroso said the region will unveil options for a Euro bond.
Comments »FLASH: U.S. Markets Break Out to New Highs For the Day
DOW up 75 bones (0.66%)
S&P up 13.46 bones (1.14%)
NASDAQ up 39 bones (1.60%)
I might venture into TZA on a close below 1175 S&P. Seems like this may be a short term resistance level.
Comments »Cheers: National Default For Your Health
Greece is Not the First Domino…Right?
Will Capital Tax Gain Cuts Help the Economy ?
Price Correlation Soars to 97.2%; Highest Point Since Lehman Debacle
Interesting correlation as most banks and institutions tout diversification. Gold and silver have been the best diversification lately.
Comments »Greenspan: US Can’t Fix Economy Without ‘Inflicting Pain’
Dutch Finance Minister Rumored to be Giving Up on Greece
This is unconfirmed rumor, but the market seems to gravitate toward these story lines…
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