Buffett: I’d Buy U.S. Bank Stocks
A Look at Stocks That Have 15% Moves On or After Earnings
Upgrades and Downgrades This Morning
Upgrades
HANS – Hansen Natural target raised to $90 at Stifel Nicolaus
ACN – Accenture initiated with a Buy at Deutsche Bank
CTSH – Cognizant Tech initiated with a Buy at Deutsche Bank
WIT – Wipro initiated with an Underweight at Barclays
DF – Dean Foods upgraded to Outperform from Market Perform at Bernstein
WCRX – Warner Chilcott initiated with a Buy at CRT Capital
INFY – Infosys initiated with an Overweight at Barclays
OKE – ONEOK upgraded to Buy from Hold at Citigroup
AVB – AvalonBay upgraded to Buy from Hold at Deutsche Bank
AJG – Arthur J. Gallagher upgraded to Neutral from Underperform at BofA/Merrill
NFG – National Fuel Gas upgraded to Buy from Hold at Citigroup
UGI – UGI Corp upgraded to Buy from Hold at Citigroup
CAH – Cardinal Health upgraded to Positive from Neutral at Susquehanna
NLSN – Nielsen initiated with an Outperform at Raymond James
AMD – Advanced Micro upgraded to Perform at Oppenheimer
BRE – BRE Properties upgraded to Buy from Hold at Deutsche Bank
WYNN – Wynn Resorts upgraded to Outperform from Neutral at Credit Suisse
MA – MasterCard initiated with a Buy at Deutsche Bank
CHK – Chesapeake Energy upgraded to Outperform from Market Perform at Wells Fargo
V – Visa initiated with a Buy at Deutsche Bank
NGG – National Grid upgraded to Neutral from Underweight at HSBC
Downgrades
G – Genpact initiated with a Hold at Deutsche Bank
ITC – ITC Holdings downgraded to Hold from Buy at Deutsche Bank
LM – Legg Mason downgraded to Underperform from Neutral at BofA/Merrill
SNI – Scripps Networks Interactive downgraded to Neutral from Overweight at JP Morgan
VE – Veolia Environnement downgraded to Sell from Neutral at UBS
ICE – IntercontinentalExchange downgraded to Market Perform from Outperform at Keefe Bruyette
ILMN – Illumina downgraded to Neutral from Overweight at Piper Jaffray
EC – Ecopetrol downgraded to Neutral from Buy at BofA/Merrill
ONNN – ON Semiconductor resumed with Neutral from Outperform at Wedbush
CP – Canadian Pacific downgraded to Outperform
GIB – CGI Group initiated with a Hold at Deutsche Bank
IPCC – Infinity Prpty & Casualty downgraded to Underperform from Neutral at BofA/Merrill
Comments »Gapping Up and Down This Morning
Gapping Up
SREV +12.4%, ANGO +1.6%, TOT +1.1%, AOB +9.4%, TTM +2.7%, SDRL +1.3%, ETFC +4.3%, SWHC +8.3%,
NUAN +1.5%, UGI +1.3%, ATVI +0.6% , WYNN +0.4%, since the employment report came out futures went from red to green taking many stocks and Europe higher….
Gapping Down
RGP -4.4%, MWE -3.7%, AFFX -7.7%, ESRX -5%, DB -1.7%,UBS -2.9%, ILMN -26.1%, ANEN -13.3%, CMG -1%,
BCS -1%, IRE -8.8%, NBG -3.1%, UBS -2.9%, BCS -2.8%, DB -2.2%, ING -2.1%, RBS -2.1%, VE -4.4% , WRE -1.6% ,
HRBN -0.7%, ITC -1.4%,
Comments »In Play and On the Wires
John Paulson Finds Another Hand Grenade in His Portfolio
Sony Said to be Close to Buying Ericsson’s Mobile Phone Unit
Oracle Settles Over Billing Charge With Uncle Sam for $199.5 Million
Holiday Retail Hiring Projected to be Flat
Black Swan Funds Return Excellent Performance
Del Monte and Barclays Settle With Shareholders for $89.4 Million
Boeing Settles Toxic Cabin Air Lawsuit
CCJ signs MoU to cut Cigar Lake project operation costs
Comments »Oct 5 (Reuters) – Cameco Corp said it signed a new milling arrangement with its joint venture partners which will help it cut operating cost at its Cigar Lake project.
Canada’s top uranium producer said it signed a non-binding memorandum of understanding with its joint venture partners — AREVA Resources Canada Inc, Idemitsu Resources Canada Inc and Tepco Resources Inc– to mill all Cigar Lake ore at the McClean Lake mill.
Cigar Lake, located about 660 kilometres north of Saskatoon, is the world’s largest undeveloped high-grade uranium deposit, according to Cameco’s website.
The company said estimated average cash operating cost would drop to about $18.60 per pound from $23.14 per pound due to the new milling arrangement.
Cameco, which owns a 50 percent stake in the Cigar Lake project, said it continues to expect production to start in mid-2013. (Reporting by Swetha Gopinath in Bangalore; Editing by Muralikumar Anantharaman)
FLASH: Shares of Apple are Now Green
AAPL reversed early losses and are now up $4.5 dollars or 1.3%
Comments »Marriot President: “Our Stock is Remarkably Cheap”
In a CNBC interview, the COO of Marriot (Arne Sorenson), ticker MAR, when asked about the economy said he was “seeing no signs of weakness in the US.” He furthered the numbers do not suggest recession. When asked about the company buyback program he said “let’s not be so arrogant as to assume we know where the economy is going. But we can look at the valuation the market is putting on our stock and we think it’s remarkably cheap.”
Comments »Upgrades and Downgrades This Morning
Upgrades
EGN – Energen initiated with a Buy at Caris
ABX – Barrick Gold upgraded to Outperform from Market Perform at BMO Capital
SXCI – SXC Health Solutions upgraded to Outperform from Market Perform at BMO Capital
MON – Monsanto upgraded to Overweight from Neutral at JP Morgan
OXY – Occidental Petroleum upgraded to Overweight from Neutral at JP Morgan
PLCM – Polycom upgraded to Buy at Argus
PCG – PG&E upgraded to Buy from Hold at Citigroup
UL – Unilever PLC initiated with a Buy at Societe Generale
SIVB – SVB Financial Group initiated with an Outperform at Raymond James
RL – Polo Ralph Lauren upgraded to Buy from Hold at Citigroup
WES – Western Gas Partners upgraded to Buy at Stifel Nicolaus
Downgrades
ADSK – Autodesk initiated with a Neutral at Cowen
XOM – Exxon Mobil downgraded to Underweight from Neutral at JP Morgan
CVX – Chevron downgraded to Underweight from Neutral at JP Morgan
BBG – Bill Barrett downgraded to Neutral from Buy at Suntrust
CLR – Continental Resources downgraded to Reduce from Neutral at Suntrust
GLW – Corning initiated with an Equal Weight at Morgan Stanley
HCP – HCP initiated with an Equal Weight at Morgan Stanley
CNW – Con-way initiated with an Equal Weight at Morgan Stanley
DYN – Dynegy downgraded to Underperform from Neutral at Macquarie
COST – Costco downgraded to Market Perform from Outperform at William Blair
PFCB – PF Chang’s downgraded to Market Perform from Outperform at William Blair
REN – Resolute Energy downgraded to Reduce from Neutral at Suntrust
CS – Credit Suisse initiated with an Underweight at Banco Santander
CMG – Chipotle Mexican Grill downgraded to Sell from Neutral at Miller Tabak
WAG – Walgreens downgraded to Neutral from Buy at BofA/Merrill
AMX – America Movil SA downgraded to Hold from Buy at Banco Santander
Comments »Gapping Up and Down This Morning
Gapping up
OCZ +20.7%, ZUMZ +14.4%, ESIC +9.6%, NDN +6.1%, NBG +3.6%, LYG +3%, BCS +2.4%, HBC +1.8%, UBS +1.2%,
C +0.8%, CS +0.5%, BAC, TGT +3.7%, ESRX +2.9%,CMTL +12.8%, AIXG +5.1%, GLW +4.8%, MT +4.4%, RIO +3.9%,
MCP +3.5%,LTD +0.5%, SLV +3.5%, BBL +3%, PZG +2.5%,BHP +2.4%, RIO +3.5%, AG +2.4%, BHP +2.4%, BBL +2.1%,
MT +1.8%, SLW +1.6%, MCP +3.5%, DANG +5.5%, BIDU +2.2%, SINA +1.6%, GLW +4.8%, ETN +0.7%
Gapping down
RT -10.1%, DRWI -7.9%, AAPL -2.1%, YHOO -1.9%, BP -1.6%,
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