Monthly Archives: April 2011
Upgrades and Downgrades This Morning
Upgrades
AAPL – Apple target raised to $465 from $425 at Oppenheimer
QCOM – Qualcomm target raised to $65 from $62 at FBR Capital
CSX – CSX upgraded to Buy at Stifel Nicolaus
HAIN – Hain Celestial initiated with a Market Perform at BMO Capital
PETM – PETsMART upgraded to Buy at Goldman
AXP – American Express: FBR Capital raises FY11 EPS est further above consensus but expense growth remains a concern
UTX – United Tech target raised to $90 from $83 at FBR Capital
WDC – Western Digital target raised to $48 from $40 at Brean Murray
GEOY – GeoEye initiated with a Buy at The Benchmark Company
NS- NuStar Energy upgraded to Accumulate from Neutral at Madison Williams
SCHW – Charles Schwab upgraded to Buy at Ticonderoga
DF – Dean Foods initiated with an Outperform at BMO Capital
JAKK- JAKKS Pacific upgraded to Outperform from Market Perform at BMO Capital
EW – Edwards Lifesciences upgraded to Neutral at Wedbush
EZCH – EZchip resumed with a Buy at Auriga U.S.A
KBR – KBR Inc. upgraded to Buy at KeyBanc Capital Mkts; tgt $43
CCC – Calgon Carbon upgraded to Buy from Neutral at Janney Capital
CKSW – ClickSoftware initiated with a Outperform at Oppenheimer
BBY – Best Buy upgraded to Buy from Hold at Societe Generale
Downgrades
DRL – Doral Fincl upgraded to Hold from Sell at Cantor Fitzgerald
WFC – Wells Fargo downgraded to Neutral from Buy at Rochdale
Comments »Gapping Up and Down This Morning
Gapping Up
AAPL +2.5%, CSR +16.1%, NOK +3.3%, SI +1.4%, PBCT +2.1%, SCSS +16.1%, TPX +2.9%, FFIV +13.3%, DTLK +11.1%, SLM +6.2%, GDI +6.1%, YUM +5.7%,CVCY +2.5%, QCOM +5.2%, EW +4.3%, BSX +3.8%, ETFC +3.6%, PLXS +15.6%, TRAD +14.7%,TEX +3.4%, UTIW +3.1%, DB +2.9%, DD +2.9%,CVCY +2.5%,SWKS +2.4%, CRUS +2.4%, TSCO +2.4%, HBC +2.2%, CS +2.2%, HON +2.1%, BBVA +2%, IXYS +4%,BP+1.7%, STD +1.4%,
Gapping Down
IR -2.7%, LRCX -5.1%,VOD -1.6%, AXP -1.3%RIG -4.8%, CMG -3.2%,GILD -2.5%, CIGX -3.4%, AMGN -2.1%, WDC -1.6%,
Comments »In Play and On the Wires
McDonald’s Corp. Earnings: $1.15 EPS Up 15% With Revenues up 9%
Initial Claims: Prior 412k, Consensus 390k, Actual 403k
Covidien PLC Earnings: $0.92 EPS vs Consensus $0.86
BB&T Corporation Earnings: $0.32 EPS Up From $0.28 EPS…A 21% Increase in Profits
BlackRock Inc. Earnings: $2.96 EPS vs Consensus of $2.75 on Revenues of $2.3 Bn
Newmont Mining Corp. Earnings: $1.03 EPS vs Consensus of $0.99 on Revenues of $2.47 Bn vs Consensus of $2.44 Bn
L-3 Communications Earnings: $1.85 EPS on $3.6 Bn…Company Beats Street on Profits, Misses on Revenues, & Guides Lower
General Electric Earnings: $0.33EPS vs Consensus of $0.28 on Revenues of $38.4Bn vs Consensus of $38.3Bn
El DuPont de Nemours & Co. Earnings: $1.52 EPS vs Consensus of $1.36 on Revenues of $10Bn vs Consensus of $9.19Bn
Verizon Inc Earnings: $0.50 EPS vs consensus of $0.50 on Revenue of $26.99Bn
Rebuilding Japan and The Supply Chain Seen as a Boon for Global Economy
Asian Markets Trade Up on Good Earnings and Solar Companies Benefit From Nuclear Problem
German Business Confidence Falls
European Markets Move Higher on Better Than Expected Earnings
Brazil Raises Key Interest Rate
SÃO PAULO, Brazil—Brazil’s central bank raised its benchmark interest rates less than what many economists say is needed to keep inflation in check, in a gamble that the soaring global food prices helping drive inflation higher will eventually ease off by themselves.
The bank raised its benchmark interest rate a quarter of a percentage point to 12%. That was a smaller raise than two previous increases of half a percentage point earlier this year.
“They are capitulating in terms of their inflation target for this year and are going to let inflation run through system,” says Alberto Ramos, an Latin …
Read the rest here.
Comments »Federal Borrowing on Pace to Hit Debt Limit in Less Than Week
Federal borrowing is on pace to hit the legal limit on the national debt in less than a week.
As set in a law passed by Congress and signed by President Barack Obama on Feb. 12, 2010, the legal limit on the national debt is $14.2940 trillion. As of the close of business Tuesday, according to the Daily Treasury Statement released at 4:00 pm today, the portion of the national debt subject to this legal limit was $14.268365 trillion. (The total national debt, including the portion exempted from the legal limit, was $14.3205 trillion.)
This left the U.S. Treasury with the authority to borrow only an additional $25.635 billion before it hits the statutory debt limit.
Read the rest here.
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