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Monthly Archives: June 2011

Brick and Mortar Companies Are Complaining of No Sales taxes on the Interwebs

A slowing economy and cash poor consumers will seek out the best deals possible say brick and mortar companies.

Surprisingly AMZN has no real objection to a federal law to collect taxes. For the moment though they are fighting individual states on the issue.

Ebay on the other hand is opposed to any tax collection measures.

Full article

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Upgrades and Downgrades This Morning


MGM – MGM Resorts upgraded to Outperform from Market Perform at Bernstein

MWV – Specialty Packaging sector upgraded to Attractive from Neutral at Goldman

UHS – Universal Health upgraded to Outperform from Market Perform at Leerink Swann

ARUN – Aruba Networks upgraded to Outperform at Wedbush

CLF – Cliffs Natural Resources initiated with a Buy at UBS

LULU – Lululemon athletica upgraded to Neutral from Reduce at Nomura

AV – Aviva initiated with a Buy at Collins Stewart

SPSC – SPS Commerce initiated with a Outperform at Barrington Research

WIFI – Boingo Wireless initiated with an Outperform at William Blair

RPXC – RPX initiated with an Outperform at Cowen

UA – Under Armour upgraded to Buy from Neutral at Sterne Agee

FCF – First Commonwealth upgraded to Buy from Neutral at Sterne Agee

PEG – Public Service upgraded to Buy from Neutral at Goldman

RIG – Transocean upgraded to Buy at Argus

WNC – Wabash Natl upgraded to Overweight

GXP – Great Plains Engy upgraded to Buy from Neutral at Goldman

KMX – CarMax upgraded to Buy from Hold at BGB Securities

FR – First Ind. Rlty upgraded to Market Perform from Underperform at BMO Capital

R – Ryder System upgraded to Buy at KeyBanc Capital Mkts

TTMI – TTM Tech upgraded to Strong Buy at Needham

BEXP – Brigham Exploration upgraded to Buy from Neutral at SunTrust

AONE – A123 Systems early strength attributed to tier 1 firm upgrade


FCS – Fairchild Semi and Diodes Downgraded to Neutral from Outperform at Robert Baird

BMS – Bemis downgraded to Sell from Neutral at Goldman

GIL – Gildan Activewear initiated with Neutral at Goldman

NSTC – Ness Tech downgraded to Neutral from Positive at Susquehanna

SRE – Sempra Energy downgraded to Neutral from Buy at Goldman

RENN – Renren initiated with a Hold at Deutsche Bank

TAP – Molson Coors Brewing downgraded to Hold at Stifel Nicolaus

MJN – Mead Johnson Nutrition initiated with Outperform at William Blair

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Gapping Up and Down This Morning

Gapping Up

TBL +40.9%, AONE +8.8%, CAM +0.8%GRB +33.7%, BEXP +1.7%, MFW +40.0%, GRB +30.5%, VFC +7.9%, TRH +18.2%, NSTC +7.8%, WEN +7.5%, VOD +1.6%, KOG +2.2%, NSTC +12.4%, ALXN +3.5%,  TSEM +5.8%.

Gapping Down

SSRI -1.1%, RF -2.3%, GILD -2.1%,

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Hedge Funds Continue to Boost the Ag Play

Ag prices rally for a third straight week on supply concerns and horrible upcoming harvests. The GSCI Ag Index has rallied 79% in the past year.

This is cause for concern with feed producers and meat companies while the markets expect favorable conditions for shippers of grain…..

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Home Sales in Honk Kong Fall Off a Cliff

Government measures to curb speculation and a bubble are starting to work.

Sales fell off 58% from a week ago. Prices have risen 70% since the beginning of the year.

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Wheat Continues Upside on Late Rains

Wheat has been lagging corn as of late. With The rains being too little too late it may begin a parabolic move over the summer months.

Supply conditions remain tight as does corn.

Full article

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