“(The risk of contagion) is absolutely ruled out … it has been some time since the markets have known that our economy is much more competitive,” Spanish Economy Minister Elena Salgado told national radio station SER.
Comments »PNC Financial to Raise Dividend by 250%
Rare Earth Minerals May Get a Boost From RESTART ACT of 2011
Bullishness on Emerging Markets Drops from 71% to 51% of Money Managers Surveyed
Pier 1 Imports Beats the Street and Lays Out Plans to Boost Sales
Flash: Target reports Mar same store sales -5.5% vs -7.1% Retail Metrics consensus
Ticker TGT
Comments »Flash: BJ’s Wholesale reports Mar same store sales +5.3% vs +2.5% Retail Metrics consensus
Ticker BJ
Comments »Flash: Gap reports Mar same store sales -10% vs -7.3% Retail Metrics consensus; issues downside Q1 EPS guidance
Ticker GPS
Comments »Flash: Holly target raised to $70 from $66 at RBC Capital Mkts
Ticker HOC
Comments »Flash: Nordstrom reports Mar same store sales +5.1% vs +1.4% Retail Metrics consensus
Ticker JWN
Comments »Flash: Kohl’s reports Mar same store sales -6.5% vs -9.1% Retail Metrics consensus
Ticker KSS
Comments »German Solar Power Plant Gets $5M from GOOG
Flash: JC Penney reports Mar same store sales -0.3% vs -3.9% Retail Metrics consensus
JCP
Comments »Flash: Clean Harbors Price Target Raised to $120 at RBC Capital Mkts
Ticker CLH should see a boost.
Comments »GameStop, GME, Opens For Business on FB
March Revenues Up For DRAM Makers
Upgrades and Downgrades This Morning
Upgrades
QCOR – Questcor Pharma target raised to $24 at Maxim Group
GOOG – Google: Continued solid U.S. CPC growth in 1Q – Kaufman
BBBY – Bed Bath & Beyond target raised to $58 from $51 at Oppenheimer
ITMN – InterMune target raised to $58 from $47 at Oppenheimer
LVS – Select casino/gaming names ticking higher; Hearing LVS, WYNN and MPEL estimates raised at JPMorgan
HOC – Holly target raised to $70 from $66 at RBC Capital Mkts
CLH – Clean Harbors target raised to $120 from $107 at RBC Capital Mkts
COG – Cabot Oil & Gas upgraded to Neutral from Sell at Lazard
APC – Anadarko Petro upgraded to Buy from Neutral at Lazard
HNR – Harvest Natural upgraded to Buy from Neutral at Lazard
HERO – Hercules Offshore upgraded to Buy at Global Hunter Securities; tgt raised to $7
Downgrades
MON – Monsanto Q2 results slightly beat but annual guidance unchanged – Canaccord Genuity
ABT – Abbott Labs initiated with a Hold at Deutsche Bank; tgt $53
NKA – Niska Gas Storage downgraded to Hold at Stifel Nicolaus
AAWW- Atlas Air Worldwide Q1 EPS est lowered below consensus at Dahlman Rose on conservative view of block hours flown in the ACMI segment
UTHR, AMGN, CELG – United Therapeutics, Amgen (AMGN), Celgene (CELG) initiated with Neutrals at Citadel
PWER – Power-One target lowered to $10 from $14 at Northland Securities – following lowered guidance for Q1
ABC – AmerisourceBergen downgraded to Outperform from Strong Buy at Raymond James
Comments »Gapping Up and Down This morning
Gapping Up
BBBY +10.3%, BLUD +9.1%, PIR +8.6%, CHOP +4.6% (light volume), STZ +3.7%, LTD +3.3%, PBY +3%, M +2.4%, ZUMZ +1.8%, COST +1.3%, IRE +2.9%, UBS +2.3%, STD +1.6%, HBC +1.4%, BCS +1.4%, DB +1.2%, XNPT +72.4%, ZAGG +13.9%, IMGN +4.8%, AAU +2.9%, TSRA +2.5%, ISIL +2.0%, IL +1.9%, NVS +1.6%, WSM +1.3%, HERO +4.8%, CRM +1.8%, ELN +1.7%
Gapping down
XING -12.7%, INHX -10.6%, RT -9.9%, PWER -5.7%, FSC -3.1%, SI -2.1%, HOTT -2.1%, BUD -2%, BBL -1.3%, RIO -1.3%, MT -1.1%, NFLX -1%, NOK -1%
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