Unusual Mid Day Stock Moves
In The Black
NSM +71.36%, ISIL +10.23%, QTM +8.84%, CIEN +8.59%, MCRL +8.06%, MPWR+7.85%, SMTC +7.72%, VHC +5.8%,ANF +8.43%, SWSH +8.32%, ANW +6.17%, EXK +6.58%, ANV+5.84%, DMND +6.86%,AIB +16.09%,ISPH +24.62%, QCOR +22.65%, CBST +14.81%, NBIX +11.07%, VRUS +10.55%
In The Red
LEDS -17.08%, MERU -16.91%, CREE -3.61%, ARBA -3.22%, ARUN -6.32%, CALX -3.42%, TGP -4.69%, HERO -6.03%, CIE -3.72%, CRR -3.67%, AVL -3.58%,HMC -3.35%), LXU -3.16%, PSEC -3.87%, WMGI -10.8%), CTIC -4.76%), INHX-4%, SRZ -3.38%, WPRT -4.55%, KBH -3.11%
Comments »Gold Reaches For The Sky
Mi. judge rules 2010 retirement healthcare law unconsitutional
There’s another $300 million deficit for the state of Michigan.
Wouldn’t be a problem if the retirement benefits weren’t all but guaranteed. The argument is basically that because some defer the benefits, it’s unconsitutional (not much different than the national argument against Obamacare).
But, of course, the teacher’s unions still want the benefits they aren’t paying for.
Comments »David Hecker, president of the American Federation of Teachers Michigan, said if the new law is struck down, the state should not reduce funding for retired teachers’ health care.
“Retiree health care needs to be provided, and the state needs to step up and provide it,” Hecker said.
Getting Fleeced by Fear, Speculation, & Scarcity
Electric Cars To Boost Coal Usage
BP Buys Into India’s Oil & Gas Industry
House sends temporary funding measure, $12 billion in cuts
Basically just putting the ball in the Senate and Executive Branch’s courts, respectively.
These people are stuck in the 90’s.
Comments »Credit Bubble To End in Debt Deflation
ISM Services: Prior 59.7, Market Expects 59.5, Actual 57.3
Capital Requirement Not Going to do Anything
Coal Prices Could Rally on Negative Nuclear Sentiment
Daniel Gross says QE fear over rated
The crux of his argument is that the Federal Reserve takes cash out of circulation all the while it has been releasing liquidity to the market, so much of the total magnitude of what they’ve done is being counteracted.
Unfortunately, he attempts to downplay the amount of money that has been made by comparing the number of notes in circulation today to the number in circulation in 2009.
A better reflection would be to compare the number of notes in circulation before the crisis started to today, but then that would absolutely destroy his argument. Needless to say, the commodity markets haven’t been interested in hearing his remarks.
Comments »KB Homes Loss Widens
Flash: Walgreens March Store Sales Up 3%
Walgreens reports March sales in comparable stores increased 3.0% () 40.83 : Co reports March sales of $6.28 bln, an increase of 7.6% from $5.83 bln for the same month in 2010. Duane Reade stores, acquired in April 2010, contributed 2.8% points to the total sales increase for the month. Calendar year-to-date sales were $17.98 bln, an increase of 9.1% from $16.48 bln in 2010.
Comments »Upgrades, Downgrades, and On The Wires This Morning
Upgrades
NFLX -Netflix tgt raised to $280 from $240 at Piper Jaffray
AMRS – Amyris upgraded to Outperform from Market Perform at Raymond James
HOG – Harley-Davidson: Effects of tsunami could lead to market share gains for H-D – Wedbush
TXN – Texas Instruments upgraded to Outperform at Pacific Crest
NSTC – Ness Tech: Takeout rumors resurface; stock up on speculation and improving fundamentals – BGB Securities
PNR – Pentair upgraded to Outperform at Wedbush; tgt raised to $47
CBST – Cubist Pharma upgraded to Outperform at Wedbush; tgt raised to $32
OLN – Olin also trading modestly higher with move attributed to tier 1 firm upgrade
MCP – Molycorp: A Small acquisition that should produce large returns – Dahlman Rose
CME – CME Group: March ADV trends continue y/y improvement; estimates raised – Stifel Nicolaus
CSTR – Coinstar upgraded to Outperform from Market Perform at Northland Securities; tgt $56 saying redbox 1Q performance is tracking ahead of numbers
ZION – Zions Bancorp upgraded to Buy from Neutral at Suntrust
FWRD – Forward Air upgraded to Buy from Neutral at Suntrust
COF – Capital One ests and target raised to $64 at Stifel Nicolaus
GEOY – GeoEye initiated with Outperform at Raymond James
JPM – JPMorgan Chase and Wells Fargo (WFC) initiated with Outperforms at Macquarie
BP – BP target ests and raised to $70 at The Benchmark Company
HCA – HCA initiated with a Buy at UBS; tgt $40
C – Citigroup upgraded to Outperform from Market Perform at Bernstein
CTRP – Ctrip.com upgraded to Positive from Neutral at Susquehanna
Downgrades
AXP – American Express: Less credit leverage with more interchange risk – Stifel
CREE – Hearing downgraded at tier 1 firm
MAR – Marriott downgraded to Hold at Argus
CLR, WLL, GEOI – Global Hunter downgrades all
Comments »Gapping Up and Down This Morning
Moving Higher
QCOR +18%, SCHN +1.5%,NSM +71.8%, ISIL +7.3%, MRVL +3.7%, ONNN +3.4%, TSEM +2.8%, TSM +2.6%, STM +2.4%, BRCM +2.4%, MXIM +2.3, SMH +2.2%, UMC +2.2%, MU +1.9%, NVDA +1.8%, LLTC +1%, NVS +1.0%, GSK +0.9%, NAVR +20.9%, CBST +15.4%, PPHM +8.2%, JASO +2.3%, IVAN +6.5%, EXPE +1.6%, FOSL +0.7%, CTRP +2.2%, CSCO +1.4%, INTC +1.1%, JNPR +0.9%, COP +0.8%.
Gapping Down
LEDS -13.9%, IRE -12.7%, DGW -12%, AIB -9.7%, TISI -8.1%, PSEC -7%, KYN -5.5%, TGP -4.2%, CREE -3.0%, TXN -2.4%, TM -2.4%, AAPL -1.7%, IL -1.3%, PHYS -1.3%, CS -1%.
Comments »