Monthly Archives: June 2011
Nouriel Roubini: There is a Chance There Will Be More QE by Year End
BlackRock Believes a $4 Trillion Budget Cut Would Trim GDP by 1%
Given cuts in growth forecasts this would leave the U.S. with a yearly growth rate of 1%. However Laurence Fink believes we have no real choice, but to seek budget cuts.
Comments »The German Bank Association Agrees to Raising Funds From Private Creditors For Greece
German banks and the ECB are trying to work a deal without allowing an actual default. Stay tuned .
Comments »Saudis Ready to Pump Oil After OPEC collapse
Saudi Arabia signaled it’s ready to deliver on a pledge to boost the supply of oil after the collapse of OPEC talks two days ago.
The world’s largest oil exporter will increase production, though it’s too early to say by how much, a Saudi industry official with knowledge of the matter who declined to be identified said today. Al-Hayat, citing senior officials, reported earlier that the kingdom will boost output to 10 million barrels a day in July from the current 8.8 million. Oil fell as much as 3.3 percent, the most in three weeks.
Saudi Arabia “wants everyone to understand that they’re serious,” Olivier Jakob, an analyst at Petromatrix GmbH in Zug, Switzerland, said today by phone. “It’s important that the Saudis are signaling that they’re offering additional barrels.”
Comments »CafePress Files for IPO
Flash: Dow Closes Out Below 12,000
The Dow was down for the 6th consecutive week, worst streak since 2002.
Comments »Best Performing ETF’s (2 weeks)
No. Ticker 2-week Return Market Cap
1 TZA 20.51 566,495,110
2 FAZ 18.66 1,209,974,941
3 CZI 17.58
4 SOXS 16.63 12,628,071
5 SRTY 15.99 26,859,269
6 TYP 15.53 55,187,309
7 SKK 14.73 12,481,165
8 BXDC 14.67 0.00
9 DRV 14.61 112,467,012
10 TWM 13.56 509,350,415
11 SSG 13.17 23,833,725
12 BGZ 13.12 313,326,207
13 DUST 12.76
14 SPXU 12.69 242,799,747
15 SKF 12.47 604,401,504
16 MWN 12.47 13,143,779
17 MZZ 11.65 38,448,784
18 SDD 10.96 19,411,490
19 SMN 10.57 142,969,691
20 SDK 10.55 6,763,420
21 REW 10.42 20,475,956
22 LEDD 9.91
23 SGG 9.49 2,558,868,000
24 SJH 9.30 8,013,066
25 QID 8.96 874,180,772
Worst Performers (2 weeks)
No. Ticker 2-week Return Market Cap
1 RENN -29.31 4,120,000,000
2 IRE -27.81 1,680,000,000
3 CIEN -27.30 1,810,000,000
4 MTG -27.05 1,150,000,000
5 AMRN -25.08 2,060,000,000
6 VRA -24.86 1,570,000,000
7 NOK -23.84 23,340,000,000
8 IPXL -23.73 1,350,000,000
9 FNSR -22.93 1,900,000,000
10 YOKU -22.63 3,470,000,000
11 SVM -21.92 1,540,000,000
12 SINA -21.34 5,720,000,000
13 TTMI -21.13 1,120,000,000
14 PANL -21.11 1,680,000,000
15 EXEL -19.61 1,200,000,000
16 RSH -19.50 1,360,000,000
17 ASIA -18.97 1,040,000,000
18 LNKD -18.57 6,800,000,000
19 JOSB -18.34 1,280,000,000
20 ODP -18.27 1,010,000,000
21 BC -18.25 1,600,000,000
22 BVN -17.86 9,630,000,000
23 MGM -17.86 6,370,000,000
24 RLD -17.80 1,230,000,000
25 NWL -17.79 4,300,000,000
Upgrades and Downgrades This Morning
Upgrades
MU – Micron upgraded to Outperform from Market Perform at Wells Fargo
CME – CME Group upgraded to Buy from Neutral at UBS
ZIP – Zipcar upgraded to Overweight from Neutral at JP Morgan
BKH – Black Hills Corp upgraded to Outperform from Neutral at Credit Suisse
BRGYY – BG Group upgraded to Buy from Hold at RBS
ITG – Investment Tech upgraded to Market Perform from Underperform at Keefe Bruyette
SQI – SciQuest initiated with a Buy at Canaccord Genuity
SYMC – Symantec should continue to benefit from solid demand; tgt to $21 from $20 at Oppenheimer
QEP – QEP Resources upgraded to Positive from Neutral at Susquehanna
PAAS – Pan Am Silver initiated with a Buy at Dahlman Rose; tgt $46.99
CBRL – Cracker Barrel downgraded to Mkt Perform at Morgan Keegan
DCO – Ducommun initiated with a Buy at Capstone
NXTM – Nxstage Medical upgraded to Overweight from Neutral at JP Morgan
TSCDY – Tesco ADR upgraded to Buy from Hold at Jefferies
ESV – Ensco reinstated with a Buy at Deutsche Bank
INCY – Incyte initiated with Overweight at Piper Jaffray
GNRC – Generac initiated with a Outperform at Oppenheimer
NE – Noble Corp upgraded to Outperform at Morgan Keegan
DCTH – Delcath assumed with an Outperform at Cowen
Downgrades
RIMM – Research In Motion target lowered to $45 at RBC Capital Mkts
STI – SunTrust Banks downgraded to Neutral from Outperform at Macquarie
KMX – CarMax target lowered to $38 from $41 at Oppenheimer
THOR – Thoratec initiated with a Hold at Wunderlich
WFR – MEMC Elec downgraded to Hold at Stifel Nicolaus
CPTS – Conceptus initiated with a Hold at Wunderlich
Comments »Gapping Up and Down This morning
Gapping Up
NUVA +3.6%, YONG +8.5%, CHTP +1.7%, LYV+6.8%, TLB +2.9%, MT +0.9%, VRGY +10.5%, DB +0.7%
Gapping Down
TGB -8.6%, RLD -7.4%, RIO -1.2%, BP -1.1%DCIX -6.9%, RENT -7.3%, BHP -1.3%, SEAC -2.9%, FRO -2.2%, HMN -1.9%,
Comments »In Play and On The Wires
U.S. Futures Pointing Lower
Interest rate hikes, China trade data, uncertainty of a Greek bailout, are just a few things weighing in on the markets this morning.
Comments »David Tepper: “There Is No QE3 Coming Down The Pike”
Microsoft Loses Appeal on Patent Infringement Case
As a result they will have to pay out $290 million to i4i…a Canadian tech company
Comments »European Markets Trade to the Downside for A Seven Day Losing Streak
Asian Markets Trade Mixed on Interest Rate Hike Concerns
Japan’s PPI Climbed for an 8th Consecutive Month on Higher Commodity Prices
The cost of doing business in Japan shot up 2.2% after a 2.5% increase in April.
Comments »India’s Industrial Production Falls; Interest Rate Hikes Still Needed to Tame Inflation
Germany Continues Their Pitch For Private Investors To Own a Piece of Greek Debt; Also They Would Like to See an Extension of Maturities
“Participation of private creditors in cases of insolvency is indispensable,” German Finance Minister Wolfgang Schaeuble told lawmakers in Berlin today, ignoring warnings from credit- rating firms that his proposal to extend Greek debt maturities by seven years would be deemed a default. A working group set up this week is charged with “finding a good solution for the involvement of the private sector that can and has to be supported by the European Central Bank,” he said.”
As a result German Bund Rallies and the bonds of Greece, Spain, Ireland, & Portugal fall.
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