Ben Franklin would be upset that we allowed our republic to turn into a kleptocracy.
Full op/ed from The Big Picture
Comments »Ben Franklin would be upset that we allowed our republic to turn into a kleptocracy.
Full op/ed from The Big Picture
Comments »+5.5% to 5.08%
Comments »“Billionaire investor George Soros believes the euro zone bond market is facing a similar situation to the banking system in 2008 and wants the European Central Bank to step in to stop a self-fulfilling crisis of confidence.”
Comments »Upgrades
ATRO – Astronics initiated with a Hold at Auriga
AVGO – Avago Tech initiated with a Buy at Lazard
RIG – Transocean resumed with a Buy at Dahlman Rose
NWSA – News Corp upgraded to Positive from Neutral at Susquehanna
ESL – Esterline Techs initiated with a Market Perform at Wells Fargo
VOXX – Audiovox initiated with a Above Average at Caris & Company
QPSA – Quepasa initiated with a Mkt Outperform at Rodman & Renshaw
DTSI – DTS initiated with an Outperform at JMP Securities
NVDA – NVIDIA upgraded to Buy from Under Perform at Needham
WGL – WGL Holdings upgraded to Buy at Brean Murray
PSS – Collective Brands upgraded to Buy from Hold at Auriga
DRC – Dresser-Rand initiated with an Outperform at Wells Fargo
ICON – Iconix Brand initiated with a Buy at Citigroup
AN – AutoNation upgraded to Neutral from Sell at Goldman
TRLG – True Religion initiated with a Buy at Citigroup
FF – First Financial Fund Inc. initiated with an Outperform at Wedbush
DLB – Dolby Labs upgraded to Outperform at Barrington Research
ALTR – Altera initiated with a Buy at Lazard
INAP – InterNAP resumed with an Outperform at Wells Fargo
DAL – Delta Air Lines initiated with an Outperform at Raymond James
EQIX – Equinix resumed with an Outperform at Wells Fargo
DOLE – Dole Food downgraded to Underperform from Neutral at BofA/Merrill
ENTR – Entropic Comms initiated with a Buy at Mizuho
DAN – Dana Holding initiated with a Buy at UBS
SMP – Standard Motor downgraded to Sell from Neutral at Goldman
Downgrades
MSFT – Microsoft initiated with a Hold at ThinkEquity
TWO – Two Harbors Investment initiated with a Neutral at Sterne Agee
TSL – Trina Solar downgraded to Sell from Hold at Auriga
WYNN – Wynn Resorts downgraded to Neutral from Buy at Janney Montgomery Scott
AMGN – Amgen downgraded to Market Perform from Outperform at BMO Capital
TSLA – Tesla Motors initiated with a Hold at Wunderlich
XLNX – Xilinx initiated with a Neutral at Lazard
INTU – Intuit initiated with a Buy at ThinkEquity
FMCN – Focus Media downgraded to Neutral from Overweight at JP Morgan
COT – Cott estsimates reduced at Stifel Nicolaus
AFL – AFLAC downgraded to Neutral from Buy at Suntrust
VRUS – Pharmasset downgraded to Hold at Canaccord Genuity
NCIT – NCI downgraded to Neutral from Buy at Suntrust
MTOR – Meritor downgraded to Equal Weight from Overweight at Barclays
AH – Accretive Health initiated with a Neutral at Cowen
Comments »Gapping up
ZLC +11%, LNG +9.8%, SIG +4.4%, ADI +2.3%, FMCN +6.9%, DCTH +6.3%, BRCD +4.9%, RENN +1.8%,
YOKU +1.7%, JACK +0.7%, AUY +1.1%, SINA +2%, HMY +1%, SLW +1%, BWEN +37.9%, LNG +8%, TTM +6.4%,
DCTH +8.3%, ABX +0.9%, GDX +0.7%, PPHM +25.6%, GFI +0.6%, CVS +0.7%,
Gapping down
FRO -26.8%, JKS -12.3%, PSS -8.8%, PWRD -7.6%, FIO -6.1%, TSL -6.1%, ALU -5.4%, NFLX -2%, HPQ -1.6%,
STP -2.7% , DB -2.9%, BBVA -2.8%, LYG -2.7%, CS -1.4%, HBC -1%, SFL -9.5%, LEN -2.7%, WYNN -1.3%,
AMGN -0.4%,
Comments »
The board has warned management that the company needs to strengthen it’s balance sheet or else face enforcement by regulators.
Comments »“Germany is standing pat in Europe’s debt crisis, rejecting calls from allies and investors to do more to counter market turmoil, said Michael Meister, a senior lawmaker in Chancellor Angela Merkel’s coalition.
“We don’t have any new bazooka to pull out of the bag,” Meister, the Christian Democratic bloc’s finance spokesman and deputy leader in parliament, said in Berlin today. “We see no alternative to the policy we are following,” which calls for budget cuts and keeping the European Central Bank from becoming a lender of last resort, he said in a telephone interview.”
Comments »Spain is paying 7% plus on 3 month paper at an auction today. This was much more than what Greece and Portugal had to pay for similar auctions.
Comments »