How about the bankers first you knuckle ball
Comments »Monthly Archives: August 2011
Birinyi: Market is Becoming Ripe for Stock Picking
“I want to go down to the lowest level, which is the hardest level, and pick individual stocks,” Birinyi tells CNBC.
“The markets create some good opportunities, and I think that’s what you should be looking at here and not be consumed by the level of the market.”
Birinyi adds he’ll avoid underperforming financial stocks, which have been battered on fears that debt woes in parts of Europe can threaten financial sectors everywhere. ”
Read more: Birinyi: Market is Becoming Ripe for Stock Picking
Important: Can you afford to Retire? Shocking Poll Results
Crack Spreads Reaching For New 52 Week Highs
Upgrades and Downgrades This Morning
Upgrades
WNR – Western Refining upgraded to Buy from Neutral at Goldman
XOM – Exxon Mobil added to Conviction Buy List at Goldman
NBL – Noble Energy added to Conviction Buy List at Goldman
BEXP – Brigham Exploration upgraded to Buy at Stifel Nicolaus
ICE – IntercontinentalExchange upgraded to Buy from Neutral at Goldman
COO – Cooper Cos initiated with an Outperform at William Blair
KCG – Knight Capital Group added to Conviction Buy List at Goldman
NANO – Nanometrics initiated with a Buy at Stifel Nicolaus
FWRD – Forward Air upgraded to Buy at Stifel Nicolaus
CSCO – Cisco Systems upgraded to Buy at Stifel Nicolaus
NYX – NYSE Euronext upgraded to Buy at Argus
BEN – Franklin Resources upgraded to Buy from Neutral at Goldman
KIM – Kimco Realty upgraded to Buy from Neutral at UBS
ERTS – Electronic Arts upgraded to Outperform from Neutral at Cowen
KGC – Kinross Gold downgraded to Neutral from Outperform at Credit Suisse
Downgrades
KKR – KKR downgraded to Neutral from Buy at Goldman
IL – IntraLinks Holdings downgraded to Sector Perform from Outperform at Pacific Crest
COG – Cabot Oil & Gas downgraded to Neutral from Buy at Goldman
RJF – Raymond James downgraded to Neutral from Buy at Goldman
DIS – Walt Disney downgraded to Neutral from Buy at Goldman
VNO – Vornado Rlty Trust downgraded to Neutral from Buy at Goldman
SLAB – Silicon Labs initiated with a Hold at Wunderlich
VQ – Venoco downgraded to Hold at Stifel Nicolaus
CSC – Computer Sciences ests and target lowered to $38 at Stifel Nicolaus
LNC – Lincoln National downgraded to Neutral from Buy at Goldman
Comments »Gapping Up and Down This Morning
Gapping Up
BAC +3.4%, ETFC +3.3%, KGC +3.3%, ACTV +12.7%, CSCO +10%, JNPR +2.8%, GILD +2.6%, AZN +2.6%,IOC +5.9%, RVBD +2.3%, BCS +2.1%, AAPL +1.5%, BEXP +5.1%, BK +4.1%, AAP +3.6%, ALU +3.5%,
Gapping Down
ENS -6.5%, ANW -3.3%, OTEX -7.8%, GFI -2%, SF -1.6%, UN -1.3%
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In Play and On the Wires
Initial Claims: Prior 400k, Mkt Expects 409k, Actual 395k
Continuing claims: Prior 3.73 mn Mkt expects 3.70 mn, Actual 3.74mn
Trade balance was $53.08 bn
Comments »FLASH: EUR/USD Testing Key Levels; Currency Flow Weakness Moves Into NY Trade
eur/usd testing 1.40 support levels…..
Comments »FLASH: NYT Reports That A Short Selling Ban is Being Considered Across the Entire Euro Zone
European Market regulatory Board is considering banning all short selling.
Comments »Merrill Lowers Sector Rating to Neutral on Euro Banks
Essentially they just kicked the EU in the nuts.
“As long as EU peripheral debt issues remain in the headlines despite the best efforts of the ECB, banks will likely remain a focal point for negative risk appetite and we believe this will weigh against optically cheap valuations and low investor positioning.”
Comments »SocGen Tanks Again on Rumors of Insolvency and That Chinese Banks have Cut Credit Lines
Italins Bond Spreads Blow Out; Euro CDS Markets Likely to Creat Major Hurdles Ocer the Short Term
Gold and The Swiss Franc Turn Negative On Margin/Peg Requirements Being Raised
FLASH: Reuters Reports That a Chinese Bank Cuts Credit Lines to French Banks
FLASH: U.S. Futures Turn Negative; European Markets Pare Gains and Also Dip Into the Red
European Markets +2.5% on Open
Mild pick up in bank shares, but nothing too spectacular.
Comments »Breaking: SocGen Indicating +13% on Open
Rumors have been squashed, for now.
UPDATE: Socgen is trading +4%.
Flash: European Markets Set to Rip On Open
Indicating as much as 3% to the upside.
Comments »Flash: Japan Closes Down 57; US Futures at Session Highs
Flash: Europe Called Higher
FTSE up 53, DAX up 79, CAC up 32
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