You’d be surprise what constitutes defense contractors these days…..
Comments »International Paper Wins Battle to Acquire Temple Inland for $3.7 Billion
S&P Gives Higher Rating to Sub Prime Loans Over U.S. Treasuries
10 Dividend Stocks Up Double Digits This Year
Citigroup Cuts Earnings Estimates for the S&P
FLASH: U.S. Futures Suffer Nuclear Winter Into the Open
Starbucks Looks to Triple Down on China Locations
Sunoco Would Like to Exit the Refinery Business
Carlyle Files for IPO While They Still Can
Upgrades and Downgrades This Morning
Upgrades
AAPL – Apple target raised to $545 at Canaccord Genuity
UBS – UBS AG added to Focus List at JP Morgan
CIT – CIT Group upgraded to Overweight from Equal-Weight at Evercore Partners
CS – Credit Suisse upgraded to Outperform from Market Perform at Keefe Bruyette
AMID – American Midstream Partners initiated with a Buy at Citigroup
SODA – SodaStream upgraded to Overweight from Neutral at JP Morgan
APC – Anadarko Petro upgraded to Focus Stock from Outperform at Howard Weil
TEA – Teavana initiated with an Outperform at William Blair
GPRO – Gen-Probe upgraded to Buy at Canaccord Genuity
X – U.S. Steel upgraded to Buy from Hold at Citigroup
MDVN – Medivation upgraded to Outperform from Market Perform at Leerink Swann
DV – DeVry upgraded to Buy from Hold at Deutsche Bank
Downgrades
TZOO – Travelzoo ests and target lowered to $72 at Wedbush
WFC – Wells Fargo downgraded to Market Perform from Outperform at Keefe Bruyette
SUN – Sunoco reinstated with an Underperform at BofA/Merrill
MCD – McDonald’s removed from Key Calls List at UBS
BBY – Best Buy downgraded to Neutral from Overweight at Piper Jaffray
LDK – LDK Solar downgraded to Sell at Argus
IR – Ingersoll-Rand upgraded to Buy from Neutral at UBS
PEG – Public Service downgraded to Neutral from Outperform at Macquarie
HOG – Harley-Davidson removed from Short-Term Buy list at UBS
CBSH – Commerce Public Service downgraded to Neutral from Outperform at Macquarie
BBY – Best Buy downgraded to Neutral from Overweight at Piper Jaffray
Comments »Gapping Up and Down This Morning
Gapping up
TTM +3.1%, Fear, IBN +1.4%, Anxiety, GDX +0.9%,
Gapping down
MT -4.7%, HBC -3.6%, NOK -3.5%, NVS -3.5%, BAC -3.4%, TOT -3%, CS -11%, BBVA -2.8%, SAP -2.6%, RIO -2.5%, BHP -2.4%, BBL -2.1%, BP -1.5%, UBS -8.7%, LOGI -8.2%, RBS -7.6%, DB -6.3%, ALU -6%, ABB -5.8%, ALV -5.6%, MRVL -5.4%, STD -5.1%, BCS -4.7%,
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In Play and On the Wires
CIO of DBS: “Asia is in a new bear market”
Asia is only down 10-15% as opposed to Europe being down the classic 20+%. The U.S. and Canada has done the best as of late…
Comments »Carl Weinberg: “We fear a global economic depression—less severe in North America”
Dell and Baidu Join Forces To Make a Tablets and Mobile Devices
Deutsche Bank: “Prospects for the financial sector overall are rather limited,”
BofA Raises More Questions Than Answers
BlackRock: Mining Stocks Are Cheap but Strong
BlackRock says there is value and that mining companies should do more to pay shareholders.
Comments »Theory or Fact; You Decide
Upgrades and Downgrades This Morning
Upgrades
PCP – Precision Castparts initiated with a Buy at CRT Capital
TD – Toronto-Dominion Bank upgraded to Outperform from Neutral at Credit Suisse
GSM – Globe Specialty Metals assumed with a Buy at Jefferies
UPS – UPS upgraded to Outperform from Neutral at Credit Suisse
RIMM – Research In Motion tgt raised to $37 from $25 at BofA/Merrill
CSL – Carlisle Cos initiated with a Buy at Keybanc
LQDT – Liquidity Services upgraded to Outperform at Oppenheimer
AZSEY – Allianz SE upgraded to Buy from Hold at Collins Stewart
CAS – A.M. Castle coverage assumed with a Buy from Hold at Jefferies
Downgrades
SQM – Sociedad Quimica y Minera downgraded to Hold from Buy at Deutsche Bank
HINKY – Heineken downgraded to Hold from Buy at Citigroup
BCSI – Blue Coat upgraded to Neutral from Sell at Lazard
MMI – Motorola Mobility downgraded to Equal Weight from Overweight at Morgan Stanley
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