Initial Claims: Prior 391k, Market Expects 402k, Actual 401k
Retail Sales Rise Above Estimates
German Factory Orders Fall for a Second Month
World Markets Celebrate To the Upside
Bulls Manage a Second Day of Gains
Call it what you like, but the bulls are happy today. DOW up 127, NASDAQ up 55, & the S&P up 20
FLASH: REITS ARE GETTING POLEAXED
3 HT -7.67 REIT – Retail 620,080,000
5 RLJ -7.42 REIT – Hotel/Motel 1,420,000,000
8 LXP -5.86 REIT – Retail 1,020,000,000
9 FRT -5.44 REIT – Retail 5,230,000,000
10 AAT -5.35 REIT – Office 711,810,000
11 ACC -5.31 REIT – Residential 2,620,000,000
12 DCT -5.15 REIT – Industrial 1,050,000,000
13 BRE -5.09 REIT – Residential 3,230,000,000
15 KRC -5.03 REIT – Office 1,830,000,000
16 FPO -4.95 REIT – Diversified 647,740,000
17 PPS -4.94 REIT – Retail 1,810,000,000
18 ELS -4.93 REIT – Residential 2,460,000,000
19 OFC -4.89 REIT – Office 1,600,000,000
20 EXR -4.87 REIT – Industrial 1,800,000,000
21 EQR -4.84 REIT – Residential 15,480,000,000
22 CLP -4.80 REIT – Residential 1,580,000,000
23 UDR -4.79 REIT – Residential 4,800,000,000
24 SKT -4.68 REIT – Retail 2,220,000,000
25 HME -4.63 REIT – Residential 2,340,000,000
26 CPT -4.62 REIT – Residential 3,970,000,000
27 ESS -4.60 REIT – Residential 4,100,000,000
28 REG -4.53 REIT – Retail 3,130,000,000
29 AIV -4.51 REIT – Residential 2,680,000,000
30 MAA -4.39 REIT – Residential 2,200,000,000
31 PEB -4.38 REIT – Hotel/Motel 778,720,000
32 CUZ -4.36 REIT – Diversified 595,340,000
33 PDM -4.32 REIT – Office 2,800,000,000
34 CWH -4.32 REIT – Retail 2,050,000,000
35 SUI -4.30 REIT – Residential 779,880,000
36 AKR -4.29 Property Management 751,390,000
37 EQY -4.26 REIT – Retail 1,770,000,000
38 WRI -4.26 REIT – Retail 2,500,000,000
39 AVB -4.23 REIT – Residential 10,410,000,000
40 EPR -4.23 REIT – Retail 1,800,000,000
42 CLI -4.19 REIT – Office 2,290,000,000
43 EGP -4.15 REIT – Industrial 1,000,000,000
44 IRET -4.14 REIT – Retail 611,910,000
45 HIW -4.13 REIT – Retail 1,980,000,000
46 KIM -4.12 REIT – Retail 6,020,000,000
47 WRE -4.12 REIT – Retail 1,880,000,000
48 LRY -4.09 REIT – Office 3,310,000,000
49 DFT -4.03 Property Management 1,250,000,000
50 NNN -3.99 REIT – Diversified 2,310,000,000
Today’s Top 50 Short Squeezes
No. Ticker % Change Short as % of Float
1 DEXO 30.56 13.40
2 HEV 25.00 13.90
3 CIGX 18.45 21.60
4 STP 16.34 17.75
5 MHR 14.87 38.90
6 JRCC 13.78 26.48
7 COCO 13.60 31.16
8 CIS 11.91 19.29
9 VIT 11.44 66.43
10 SATC 10.55 21.50
11 OREX 10.42 11.50
12 EK 10.27 33.20
13 YRCW 8.75 46.10
14 AONE 8.73 22.10
15 ATPG 8.21 49.00
16 PCX 8.16 15.10
17 OVTI 8.02 12.50
18 TSO 7.72 11.40
19 CECO 7.63 14.40
20 TEX 7.60 11.00
21 IOC 7.46 20.63
22 REE 7.44 27.10
23 SGMO 7.27 16.78
24 MMR 7.19 16.45
25 JASO 7.06 14.97
26 MTG 6.89 13.90
27 BYD 6.81 23.98
28 FSLR 6.66 39.20
29 BKS 6.38 37.00
30 ZLC 6.25 15.90
31 DANG 6.22 29.07
32 ENER 6.19 28.80
33 AXL 6.10 17.60
34 GMO 5.98 19.25
35 WFR 5.97 10.70
36 OPEN 5.85 40.10
37 AKS 5.85 22.40
38 ISS 5.84 18.05
39 HSOL 5.80 11.34
40 ZUMZ 5.75 32.70
41 UXG 5.75 11.91
42 VHC 5.74 28.80
43 AMED 5.72 19.60
44 LLNW 5.66 11.40
45 ESI 5.56 52.11
46 BCSI 5.53 11.99
47 TZOO 5.52 80.10
48 AYI 5.51 10.90
49 HGG 5.36 59.66
50 LEAP 5.35 26.90
FLASH: Europe is Roasting the Stomachs of Short Sellers
DAX +4.6%
FTSE +3.3%
CAC +3.8%
A Strong Rebound in Copper Says Top Goldman Analyst
A Look at Yesterday’s Huge Reversal From Barry Ritholtz
I knew in my mind 1075 was an important level, but was clouded by all the noise from Europe. Glad i covered yesterday.
Comments »Warren Buffet is Pleased With The State of His Business’; Most Likely His Motivation to State Emphatically the Economy is Not Falling Into Recession
Upgrades and Downgrades This Morning
Upgrades
KMX – CarMax downgraded to Neutral from Outperform at Credit Suisse
WCN – Goldman Sachs resumes the Waste Services sector with a Neutral
YNDX – Yandex N.V. initiated with an Underperform at Credit Suisse
ROC – Rockwood Holdings upgraded to Overweight from Neutral at JP Morgan
SWN – Southwestern Energy initiated with an Overweight at boutique firm
ACOR – Acorda Therapeutics upgraded to Buy from Hold at Citigroup
APKT – Acme Packet upgraded to Outperform from Neutral at Wedbush
APOL – Apollo Group upgraded to Outperform from Neutral at Credit Suisse
RSG – Republic Services resumed with a Buy at Goldman
AGN – Allergan initiated with a Market Perform at JMP Securities
DIS – Walt Disney upgraded to Buy from Hold at Citigroup
VMW – VMware initiated with a Buy at Jefferies
RGC – Regal Entertainment upgraded to Neutral from Sell at Janney Montgomery Scott
CLH – Clean Harbors resumed with Neutral at Goldman
CBS – CBS upgraded to Buy from Hold at Citigroup
HPQ – Hewlett-Packard resumed with an Underweight at JP Morgan
Downgrades
GOOG – Google downgraded to Hold at Stifel Nicolaus
PAAS – Pan Am Silver downgraded to Underperform from Neutral at BofA/Merrill
AMD – Advanced Micro downgraded to Market Perform from Outperform at Bernstein
CTXS – Citrix Systems initiated with a Hold at Jefferies
CRM – Salesforce.com initiated with a Neutral at Ticonderoga
POL – PolyOne downgraded to Hold from Buy at Keybanc
LNKD – LinkedIn initiated with a Hold at Jefferies
DKS – Dick’s Sporting Goods downgraded to Neutral from Outperform at Credit Suisse
HD – Home Depot downgraded to Neutral from Buy at Goldman
NFLX – Netflix initiated with a Neutral at Sterne Agee
PKI – PerkinElmer downgraded to Hold from Buy at Deutsche Bank
KRA – Kraton Performance Polymers downgraded to Hold from Buy at Keybanc
Comments »Gapping Up and Down This Morning
Gapping up
MON +2.8%, ALU +5.5%, RIMM +2.2%, GPN +5.1%, YHOO +2.4%, AKAM +1.1%, NBIX +2.2%, DB +2%, RIO +1%,
COST +1%, MT +1.4%, NVAX +12.2%, AU +1.3%, DEJ +11.6%, TSPT +3.5%, BBL +1.3%, BCRX +10.7% RIO +1%,
NBIX +2.2%, CBS +0.8%, AKS +1.3%, ACOR +2.6%, DIS +1.1%,
Gapping down
APKT -14.5%, RVSN -5.9%, BCS -3.3%, FFIV -1.9%, TLM -3.1%, FFIV -2.9%, EBAY -2.9%, SAFM -2.7%, RVBD –
2.5%, YUM -1.5%, MS -3.0%, UBS -2.4%, RF -2.2%, IBN -1.4%, WFC -1.3%, STT -1.3%, BCS -0.7%, DANG –
1.3%, BIDU -1.1%, HD -1.4%, SINA -1.1%, TLM -3.8% , DKS -1.2%, EBAY -3%, YGE -2.4%, STD -3.8%,
Comments »In Play and On the Wires
Germany’s Merkel is Steadfast in the Decision That Issuing Shared Debt by ECB is Not the Right Direction
So again Germany is against the idea of leveraging the EFSF and creating a TARP style program. For the world this would be a simple one time solution…or at least a way to give relief to markets in peril. Germany states there is no one magic action that will solve the problem; and that the problem must be solved through austerity.
Comments »U.K. Second Q GDP Estimates are Slashed on Weak Consumer Spending
European Services and Manufacturing Index Fell More Than Expected
“Euro-area services and manufacturing output contracted more than estimated in September, adding to signs of a deepening slowdown as governments struggle to contain the region’s debt crisis.
A composite index based on a survey of purchasing managers in both industries fell to 49.1 in September from 50.7 in the previous month, London-based Markit Economics said today. That is less than an initial estimate of 49.2 published on Sept. 22. The index fell below 50, indicating contraction, for the first time in more than two years.”
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