Monthly Archives: August 2011
Misek Calls Bottom In $RIMM
Comments »We believe the share price has finally found a floor after months of misexecution, delayed products, and shrinking market share. Read more…
Wall Streets New Norm
Hedge Funds Take Up the Most Bearish Positions Since July of 2009
Foreign Banks Protest Over “Imperial” U.S. Tax Rule
Upgrades and Downgrades This Morning
Upgrades
CVN – Chevron upgraded to Strong Buy from Outperform at Raymond James
APC – Anadarko Petro upgraded to Buy at Ticonderoga
INTU – Intuit upgraded to Overweight from Equal Weight at First Analysis
SINA – SINA assumed with a Buy at Brean Murray
BKE – Buckle upgraded to Buy from Neutral at Sterne Agee
RIMM – Research In Motion upgraded to Hold from Underperform at Jefferies
DELL – Dell upgraded to Buy at Needham
CERN – Cerner upgraded to Outperform from Neutral at Cowen
PDS – Precision Drilling initiated with a Market Outperform at Howard Weil
VECO – Veeco Instruments initiated with a Buy at Ticonderoga
VRSK – Verisk Analytics upgraded to Outperform from Market Perform at Keefe Bruyette
CMG – Chipotle Mexican Grill upgraded to Outperform at Morgan Keegan
CECO – Career Education initiated with a Buy at Wunderlich
Downgrades
CREE – Cree downgraded to Market Perform from Outperform at JMP Securities
HLS – Healthsouth initiated with a Buy at Mizuho
UBSI – United Banksh initiated with a Hold at BB&T
WYN – FBR Capital downgrades the lodging sector to Market Perform
DV – DeVry initiated with a Hold at Wunderlich
BBT – BB&T Corp initiated with a Hold at Citigroup
LDK – LDK Solar downgraded to Hold from Buy at ThinkEquity
SCHW – Charles Schwab downgraded to Neutral from Outperform at Macquarie
HPQ – Hewlett-Packard downgraded to Sell from Hold at Deutsche Bank
STRA – Strayer Education initiated with a Hold at Wunderlich
LULU – lululemon athletica downgraded to Underweight from Hold at KeyBanc
Comments »Gapping Up and Down This Morning
Gapping Up
ARMH +3.4%, SLV+2.9%, FL +1.5%, MENT+4%, CRM +3.5%, GLD +2.5%, SGI +12.7%, AMRI +9.4%, BRCD +2.1%, SODA+2%,
Gapping Down
MT -4.5%, RCL -4.3%, DB -4%,ING -3.8%, UN -3.8%, BBL -3.7%, LDK -20.1%, OPLK -10.9%, UBS -3.1%, BHP -3.1%, RIG -3.5%, TOT -3.3%, SAP -3.3%, BAC -3%,HPQ -10.7%, HBC -2.2%, BP -2.1%, CS -1.2%, NDSN -10.4%, ARO -10.3%, STD -5.9%, LYG -5.1%, BCS -4.6%, CCL -4.5%, RIO -4.5%,
Comments »In Play and On the Wires
UBS and Credit Suisse Deny the Use of The Feds Credit Swap Facility
Rumor Has It: China Will Skip The Jackson Hole Meeting Next Week
Internal Memo: BofA to Pink Slip 3500 Jobs This Quarter
JPM Cuts U.S. GDP Estimates
Japan Calls on G-7 Coordination to Calm Markets and Currency Volatility
Global Index Options, AKA Volatility, Rise Over 6.5%; The Most Since January 2009
The Swiss Franc Continues its Meteoric Safe Haven Rise
European Banks Fall Again With a Shift Towards U.K. Banks
Junk Bond Yields Climb Over 10% in Europe
Investors are demanding higher yields for credit lines to the riskier companies. This is the highest yield in over a year.
Comments »France Lifts Short Selling Ban For Futures / Options Expiration Day
Traders complained enough to have the ban lifted so that liquidty and option/future exchanges could be made.
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