Upgrades and Downgrades This Morning
Upgrades
PDS – Precision Drilling initiated with a Accumulate at Global Hunter Securities
JCI – Johnson Controls resumed with a Buy at Needham
CSCO – Cisco Systems target raised to $20 at Oppenheimer
JOYG – Joy Global upgraded to Outperform from Market Perform at William Blair
AEO – American Eagle target raised to $15 at Oppenheimer
ONXX – Onyx Pharma upgraded to Outperform from Market Perform at BMO Capital
AMX – America Movil SA initiated with an Overweight at Barclays
AWI – Armstrong World Industries initiated with an Overweight at Barclays
WSM – Williams-Sonoma upgraded to Buy from Hold at BB&T
ITRI – Itron upgraded to Outperform from Sector Perform at Pacific Crest
NTES – Netease.com upgraded to Overweight from Neutral at Piper Jaffray
KR – Kroger downgraded to Hold from Buy at Jefferies
DKS – Dick’s Sporting Goods upgraded to Buy from Hold at ThinkEquity
FCX – Freeport-McMoRan initiated with a Buy at BB&T
RAX – Rackspace upgraded to Buy from Neutral at Goldman
Downgrades
UNM – Unum Group upgraded to Outperform from Mkt Perform at Raymond James
VOLC – Volcano initiated with a Neutral at Goldman
BX – Blackstone removed from Top Picks Live list at Citigroup
ADS – Alliance Data downgraded to Neutral from Buy at Suntrust
GR – Goodrich downgraded to Sector Perform from Outperform at RBC Capital
AMG – Affiliated Managers downgraded to Underperform from Neutral at Macquarie
CCO – Clear Channel Outdoor downgraded to Average at Caris
LM – Legg Mason downgraded to Neutral from Outperform at Macquarie
TV – Grupo Televisa initiated with an Underweight at Barclays
PRI – Primerica downgraded to Mkt Perform from Outperform at Raymond James
Comments »Gapping Up and Down This Morning
Gapping up
VRTX +4.4%, AKAM +4%, SBH +3.2%, ALU +3.5%, BRCM +0.9%, CYTK +9.8%,AOL +2.7%, RAX +1.7%, AVP +1%,
EK +8.1%, AONE +2.9%,
Gapping down
MET -0.8%, UFPI -4.1%, KR -2.2%, ADS -1.5%, SNH -3.3%, UBS -2.4%, DB -1.9%, HBC -1.7%, RIO -1.6%, SLV –
1.5%, BP -1.3%, USAT -15.6%, AZN -1.4%, NVS -0.8%, BBL -2%, MT -2%, FCX -1.8%, EGO -1.7%, RIO -1.6%,
SDRL -1.7%, HAL -1.6%, OXY -1.5%, SD -1.4%, LYG -5.3%, BCS -3.6%, BBVA -2.9%, C -2.7%, SMSI -15.9%, FCS –
7.7%, UFPI -4.1%, JPM -1.2%, OZRK -0.7%,
Comments »In Play and On The Wires
GERALD CELENTE: Anyone Who Buys Into The Stock Market Now Is A Sucker
Initial Claims: Prior 401k, Market Expects 406k, Actual 404k …. August Trade Deficit $45.61 Bn
Chinese Exports Rise the Least in Seven Months
This caused concern for a global growth slowdown and the dollar and yen traded higher off the news.
Comments »Asian Markets Hold Gains While Europe and U.S. Futures Fall
Bank of Korea Holds Rates Steady To Boost Debt Growth
No Lemonade: A New Red Flag Stock List
Bill Gross Ramps MBS Purchases
Asian Markets Gap Up; Shanghai Full Retard @ 3%
Bulls Run With The Ball Leaving Investors to Scratch Their Heads
What an amazing run over the past 6 days of trade…
DOW up 101
NASDAQ up 21.54
S&P up 11.67
Today’s Mega Cap Movers
No. Ticker % Change Market Cap
1 ACH 12.86 6,560,000,000
2 AEG 9.07 8,710,000,000
3 TEL 8.73 13,300,000,000
4 INFY 8.24 30,090,000,000
5 ING 8.19 30,040,000,000
6 RCL 7.94 5,110,000,000
7 BCS 7.85 32,680,000,000
8 SHLD 7.41 7,160,000,000
9 SLT 7.17 32,370,000,000
10 MFC 7.10 21,400,000,000
11 AIG 7.06 42,460,000,000
12 HDB 6.94 23,270,000,000
13 CTSH 6.73 20,490,000,000
14 PWE 6.66 7,050,000,000
15 DB 6.55 34,790,000,000
16 MPEL 6.44 5,510,000,000
17 DNR 6.39 5,240,000,000
18 CS 6.29 32,800,000,000
19 JCI 6.20 20,490,000,000
20 CLF 6.20 8,910,000,000
21 ASML 6.17 15,380,000,000
22 TCK 6.16 20,240,000,000
23 LPL 6.07 6,610,000,000
24 PHG 6.06 18,940,000,000
25 UBS 6.05 45,440,000,000
26 TI 6.01 22,450,000,000
27 IBN 6.00 19,770,000,000
28 HOT 5.90 8,270,000,000
29 BX 5.76 6,500,000,000
30 AFL 5.70 18,210,000,000
31 FITB 5.68 10,040,000,000
32 IVN 5.68 11,380,000,000
33 S 5.67 7,130,000,000
34 NFLX 5.65 5,710,000,000
35 CBD 5.64 9,350,000,000
36 HST 5.63 8,020,000,000
37 SCCO 5.61 22,770,000,000
38 IVZ 5.43 7,640,000,000
39 MT 5.41 29,510,000,000
40 C 5.39 81,240,000,000
41 TKC 5.32 9,920,000,000
42 SLF 5.29 14,360,000,000
43 CNQ 5.29 33,180,000,000
44 LNC 5.20 5,040,000,000
45 HIG 5.20 7,970,000,000
46 TTM 5.19 10,410,000,000
47 PUK 5.18 24,290,000,000
48 COH 5.14 17,140,000,000
49 ITT 5.07 8,220,000,000
50 ROK 5.06 8,860,000,000
Today’s Upside Scorchers
No. Ticker % Change
1 LIZ 37.06
2 GMR 31.03
3 GTIV 21.88
4 FRO 19.00
5 PACB 18.77
6 FEED 18.37
7 SFUN 16.84
8 AONE 16.31
9 WTI 15.84
10 AXK 15.66
11 EXM 15.15
12 GU 14.58
13 EJ 14.22
14 QXM 14.00
15 HRZ 13.76
16 CRIC 13.75
17 PRGN 13.13
18 XG 13.06
19 ACH 12.86
20 NNBR 12.42
21 END 12.26
22 MCOX 12.06
23 COMV 11.83
24 CVVT 11.82
25 ARTW 11.76
26 RODM 11.50
27 DVR 11.44
28 NBG 11.32
29 ACUR 11.31
30 BPHX 11.11
31 HOV 10.91
32 ZNH 10.85
33 HOGS 10.76
34 GTE 10.60
35 ISS 10.40
36 EGLE 10.26
37 MBLX 10.07
38 TZOO 10.04
39 AERL 10.02
40 CPSL 10.00
41 YGE 10.00
42 HSOL 10.00
Slovakia Reaches a Deal to Pass EFSF; Vote Expected on Friday
Bulls Remain In Control; Markets Up With Copper Leading Commodities
A Meager Bear to Get Meaner by Historical Comparisons
We may have another 10-20% if history repeats itself….the question is does it happen from here or from the lows ?
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