Airgas Inc. (NYSE: ARG) Raised to Outperform at Baird.
Bank of Ireland (NYSE: IRE) Cut to Underweight at Morgan Stanley.
Broadcom Corporation (NASDAQ: BRCM) Started as Neutral at Nomura; Raised to Positive at Susquehanna.
Calpine Corporation (NASDAQ: CPN) Started as Outperform at Oppenheimer.
Celgene Corporation (NASDAQ: CELG) Started as Outperform at Wells Fargo.
CIT Group, Inc. (NYSE: CIT) Started as Neutral at Credit Suisse.
DryShips, Inc. (NASDAQ: DRYS) Raised to Outperform at Credit Suisse.
Gilead Sciences Inc. (NASDAQ: GILD) Started as Outperform at Wells Fargo.
Intel Corporation (NASDAQ: INTC) Started as Buy at Nomura.
Lululemon Athletica (NASDAQ: LULU) Raised to Hold at Jefferies.
Marvell Technology Group Ltd. (NASDAQ: MRVL) Started as Neutral at Nomura.
NVIDIA Corporation (NASDAQ: NVDA) Started as Neutral at Nomura.
Procter & Gamble (NYSE: PG) Raised to Buy at Goldman Sachs.
QUALCOMM Incorporated (NASDAQ: QCOM) Started as Neutral at Nomura.
Research in Motion Ltd. (NASDAQ: RIMM) Reiterated Outperform and target raised to $75 at Raymond James.
Texas Instruments Inc. (NYSE: TXN) Started as Reduce at Nomura.
Friday, December 10, 2010
Latest Short Interest - from Bloomberg
• Short Interest in the SP500 for the period ending Nov. 30th declined 3.51%.
The largest decreases came from Healthcare (dn. 7.68%) Consumer Discretionary (dn. 7.09%) and financials (dn. 6.35%)
3 sectors showed an increase in Short Interest, IT (+2.85%) Telecom (+2.11%) and Industrials (+0.19%)
• Largest Increases: KSS (+157.9%) RSG (+89.9%) INTC (+80.97%) AIZ (+72.21%) PWR (+63.79%) IR (+63.34%) COL (+62.87%) RF (+49.5%) HAR (+45.91%) MJN (42.81%)
• Largest Decreases: APA (dn. 64.08%) MYL (dn. 61.26%) PGR (dn. 34.95%) APC (dn. 30.2%) MHP (dn. 29.8%) MAT (dn. 29.17%) ED (dn. 28.88%) BTI (dn. 28.75%) NEE (dn. 28.48%) AEP (dn. 27.37%)
The largest decreases came from Healthcare (dn. 7.68%) Consumer Discretionary (dn. 7.09%) and financials (dn. 6.35%)
3 sectors showed an increase in Short Interest, IT (+2.85%) Telecom (+2.11%) and Industrials (+0.19%)
• Largest Increases: KSS (+157.9%) RSG (+89.9%) INTC (+80.97%) AIZ (+72.21%) PWR (+63.79%) IR (+63.34%) COL (+62.87%) RF (+49.5%) HAR (+45.91%) MJN (42.81%)
• Largest Decreases: APA (dn. 64.08%) MYL (dn. 61.26%) PGR (dn. 34.95%) APC (dn. 30.2%) MHP (dn. 29.8%) MAT (dn. 29.17%) ED (dn. 28.88%) BTI (dn. 28.75%) NEE (dn. 28.48%) AEP (dn. 27.37%)
Green Mountain Coffee warns...
Green Mountain Coffee Roasters (GMCR 31.98, -5.44, -14.54%) declined 15% in the premarket. The Waterbury, Vt., coffee producer issued a softer profit forecast and withdrew its shipment guidance for its K-Cup coffee packs.
Earnings Next Week...
Corporate Events Calendar – Week of Mon Dec 13
• Mon Dec 13: analyst meetings (Air Liquide, BCR, EW); sales (GWW)
• Tues Dec 14: earnings before the open (BBY, FDS, SAFM); earnings after the close (HOV); analyst meetings (BMC, BRCM, CRL, FSLR, GE, KO, NVS, ONXX, PPG)
• Wed Dec 15: earnings before the open (JOYG); earnings after the close (NDSN); analyst meeting (AVT, CBR, DAL, DG, DGI, DHR, HON, LII)
• Thurs Dec 16: earnings before the open (ABC, ATU, DFS, FDX, GIS, PIR, RAD); earnings after the close (ACN, LUB, ORCL, RIMM, SMOD, TTWO, ZQK); analyst meetings (ATHN, CNC, IRDM, PG)
• Fri Dec 17: analyst meetings (CCE, ITT, PNR)
• Mon Dec 13: analyst meetings (Air Liquide, BCR, EW); sales (GWW)
• Tues Dec 14: earnings before the open (BBY, FDS, SAFM); earnings after the close (HOV); analyst meetings (BMC, BRCM, CRL, FSLR, GE, KO, NVS, ONXX, PPG)
• Wed Dec 15: earnings before the open (JOYG); earnings after the close (NDSN); analyst meeting (AVT, CBR, DAL, DG, DGI, DHR, HON, LII)
• Thurs Dec 16: earnings before the open (ABC, ATU, DFS, FDX, GIS, PIR, RAD); earnings after the close (ACN, LUB, ORCL, RIMM, SMOD, TTWO, ZQK); analyst meetings (ATHN, CNC, IRDM, PG)
• Fri Dec 17: analyst meetings (CCE, ITT, PNR)
Latest Fund Flows
Fund Flows – from JPMorgan’s E Beinstein - For the week ending 12/8/10, all fund categories experienced inflows; HY, Equity, and Money Markets significant ones. HG had inflows of $400mn this week vs an inflow of $56mn last week. The last outflow was during the week of 11/3/10 of -$258mm. HY funds had inflows of $1bn this week vs an outflow of - $1.2bn last week. Equity funds had inflows of $8bn this week (3rd largest inflow this year) vs an outflow of -$1.6bn last week. Money markets had an inflow of $25bn this week (largest this year) vs an outflow of -$2.8bn last week.
Stocks to Watch
• Apple Inc. (AAPL). The component suppliers for the PC maker’s iPad are gearing up for a new round of production in the first quarter, sources said on Friday, with one saying the product will be a revamp of the popular tablet computer including front- and back-mounted cameras.
• Bank of America Corp. (BAC). The bank and financial holding company restarted about 16,000 home foreclosure cases across the United States on Monday, the Wall Street Journal said.
• Borders Group Inc. (BGP). The bookseller said on Thursday it is trying to obtain new financing to avoid violating the terms of its credit agreements early next year.
• Cablevision Systems Corp. (CVC), F5 Networks Inc (FFIV), Netflix Inc (NFLX) and Newfield Exploration Co (NFX). The four companies will join the benchmark S&P 500 index after the closing bell on Dec. 17, S&P said in a statement on Thursday. Netflix, F5 Networks and Newfield Exploration will replace Office Depot Inc (ODP), The New York Times Co (NYT) and Eastman Kodak Co (EK) in the S&P 500. Cablevision Systems will replace King Pharmaceuticals Inc (KG) as King Pharma's takeover by Pfizer Inc (PFE) is expected to be completed soon, S&P said.
• Cisco Systems Inc. (CSCO). The network equipment maker company’s CEO John Chambers on thursday said, the company would likely gain share in the overall market, including the public sector, where it suffered a fall in orders last quarter.
• Green Mountain Coffee Roasters Inc. (GMCR). The coffee company gave a weak first-quarter profit outlook due to higher marketing costs and an expected volatility in coffee costs, becoming the latest coffee company to take a hit due to soaring prices. The company, which raised coffee prices in October in response to rising coffee costs, expects a first-quarter adjusted profit of 14-18 cents a share.
• JPMorgan Chase & Co. (JPM). The bank is hiring 100 corporate bankers outside the United States, in a bet that loan demand in the rest of the world will grow faster than in the bank's home base.
• Microsoft Corp. (MSFT). The world's largest software company said November month was the best on record for xbox sales, helped by Kinect. 1.37 million of xbox consoles were sold, the company said. Separately, Microsoft, Adobe (ADBE) and other U.S. software manufacturers are pressing the Obama administration for a deal with China next week that could spur billions of dollars of additional U.S. software exports, an industry official said on Thursday.
• Sony Corp. (SNE). The electronic equipment maker on Friday said it shipped more than 5.5 million copies of Gran Turismo 5, the latest version of its motor-racing game franchise, in its first 12 days on sale.
• United Technologies Corp. (UTX). The diversified manufacturer set a wide 2011 profit target range, warning that a fluctuating euro and uncertain global economic recovery could hamper it from hitting its long-term earnings growth target of 10 percent or more. The company expected a profit of $5.05 to $5.35 per share in 2011.
• Bank of America Corp. (BAC). The bank and financial holding company restarted about 16,000 home foreclosure cases across the United States on Monday, the Wall Street Journal said.
• Borders Group Inc. (BGP). The bookseller said on Thursday it is trying to obtain new financing to avoid violating the terms of its credit agreements early next year.
• Cablevision Systems Corp. (CVC), F5 Networks Inc (FFIV), Netflix Inc (NFLX) and Newfield Exploration Co (NFX). The four companies will join the benchmark S&P 500 index after the closing bell on Dec. 17, S&P said in a statement on Thursday. Netflix, F5 Networks and Newfield Exploration will replace Office Depot Inc (ODP), The New York Times Co (NYT) and Eastman Kodak Co (EK) in the S&P 500. Cablevision Systems will replace King Pharmaceuticals Inc (KG) as King Pharma's takeover by Pfizer Inc (PFE) is expected to be completed soon, S&P said.
• Cisco Systems Inc. (CSCO). The network equipment maker company’s CEO John Chambers on thursday said, the company would likely gain share in the overall market, including the public sector, where it suffered a fall in orders last quarter.
• Green Mountain Coffee Roasters Inc. (GMCR). The coffee company gave a weak first-quarter profit outlook due to higher marketing costs and an expected volatility in coffee costs, becoming the latest coffee company to take a hit due to soaring prices. The company, which raised coffee prices in October in response to rising coffee costs, expects a first-quarter adjusted profit of 14-18 cents a share.
• JPMorgan Chase & Co. (JPM). The bank is hiring 100 corporate bankers outside the United States, in a bet that loan demand in the rest of the world will grow faster than in the bank's home base.
• Microsoft Corp. (MSFT). The world's largest software company said November month was the best on record for xbox sales, helped by Kinect. 1.37 million of xbox consoles were sold, the company said. Separately, Microsoft, Adobe (ADBE) and other U.S. software manufacturers are pressing the Obama administration for a deal with China next week that could spur billions of dollars of additional U.S. software exports, an industry official said on Thursday.
• Sony Corp. (SNE). The electronic equipment maker on Friday said it shipped more than 5.5 million copies of Gran Turismo 5, the latest version of its motor-racing game franchise, in its first 12 days on sale.
• United Technologies Corp. (UTX). The diversified manufacturer set a wide 2011 profit target range, warning that a fluctuating euro and uncertain global economic recovery could hamper it from hitting its long-term earnings growth target of 10 percent or more. The company expected a profit of $5.05 to $5.35 per share in 2011.
Thursday, June 17, 2010
FDIC keeps Insured level at $250K
Deposit insurance gets permanent increase – reconciliation conference members on Tues agreed to permanently increase deposit insurance for bank customers (from $100K to $250K); the move was unexpected.
This move could hurt stocks....
This move could hurt stocks....
PIMCO likes stocks...
PIMCO’s Gross says his firm is moving into equities - "We are making a move into equities...we are recognizing the global market place is not just bond related,"; Gross says equities look attractive - "Corporate equities, however, in terms of valuation are selling at very low (price-earnings) ratios.”
Monday, June 14, 2010
S&P Rebalancing this Friday...
S&P rebalance - The quarterly share rebalance for the S&P 500, S&P MidCap 400, S&P SmallCap 600 Indices will take place at the close of business Friday, June 18, 2010.
BP Update....
BP Plc. (BP). The oil major said on Monday the oil spill in the Gulf of Mexico had already cost it $1.6 billion and that it would begin operating an additional mechanism to capture more crude from the leaking well in the coming days.
Blockbuster moves closer to Bankruptcy...
Blockbuster (BBI). The movie rental chain is in talks with bondholders to get a $150 million debtor-in-possession loan, a sign it could be closer to seeking Chapter 11 protection, the WSJ reported on Friday.
Apple - HTC battle heats up....
Apple Inc. (AAPL). A U.S. trade panel will investigate allegations made by HTC Corp that the company infringes its technology, as HTC seeks to win a ban on the U.S. sale of iPhones, iPads and iPods.
Friday, June 11, 2010
Avandia exposes patients to greater health risks...
GlaxoSmithKline Plc. (GSK). The drugmaker’s Avandia diabetes drug exposed patients to greater health risks including heart attacks, and even death, the WSJ said on Friday, citing a U.S. Food and Drug Administration scientist's study.
They keep trying to knock Apple down...
Apple Inc. (AAPL). The Federal Bureau of Investigation has opened a probe into a security breach of Apple’s iPad that exposed personal information of AT&T Inc (T) customers, including those of several high-ranking government officials.
Tuesday, June 8, 2010
10 am update
At 10:10 am:
Dow +19
Nas -7
S&P +1.66
This is a key day as we need to stop this recent slide. We are way overdone, but as of yet, no investors are willing to step in and Buy.
Dow +19
Nas -7
S&P +1.66
This is a key day as we need to stop this recent slide. We are way overdone, but as of yet, no investors are willing to step in and Buy.
Analyst Upgrades and Downgrades...
Altera Corp. (ALTR) price target cut to $26.60 from $31.70; rating outperform at Macquarie
• Amazon.com Inc. (AMZN) price target cut to $150 from $155 at BofA Merrill
• Baker Hughes Inc. (BHI) price target cut to $47 from $61; rating cut to market perform from outperform at FBR
• Diamond Offshore Drilling (DO) rating cut to sell from neutral at Goldman Sachs
• eBay Inc. (EBAY) price target cut to $27 from $28 at BofA Merrill
• Ensco Plc. (ESV) price target cut to $55 from $63 at FBR
• Expedia Inc. (EXPE) price target cut to $29 from $30 at BofA Merrill
• Google Inc. (GOOG) price target cut to $630 from $685 at BofA Merrill
• Halliburton Co. (HAL) price target to $38 from $44 at FBR
• Nabors Industries (NBR) rating raised to buy from neutral at Goldman Sachs
• Noble Corp. (NE) rating cut to neutral from buy at Goldman Sachs
• Rowan Companies Inc. (RDC) price target cut to $24 from $26 at FBR
• Schlumberger (SLB) price target cut to $85 from $96 at FBR
• Yahoo (YHOO) price target cut to $20 from $21 at BofA Merrill
• Amazon.com Inc. (AMZN) price target cut to $150 from $155 at BofA Merrill
• Baker Hughes Inc. (BHI) price target cut to $47 from $61; rating cut to market perform from outperform at FBR
• Diamond Offshore Drilling (DO) rating cut to sell from neutral at Goldman Sachs
• eBay Inc. (EBAY) price target cut to $27 from $28 at BofA Merrill
• Ensco Plc. (ESV) price target cut to $55 from $63 at FBR
• Expedia Inc. (EXPE) price target cut to $29 from $30 at BofA Merrill
• Google Inc. (GOOG) price target cut to $630 from $685 at BofA Merrill
• Halliburton Co. (HAL) price target to $38 from $44 at FBR
• Nabors Industries (NBR) rating raised to buy from neutral at Goldman Sachs
• Noble Corp. (NE) rating cut to neutral from buy at Goldman Sachs
• Rowan Companies Inc. (RDC) price target cut to $24 from $26 at FBR
• Schlumberger (SLB) price target cut to $85 from $96 at FBR
• Yahoo (YHOO) price target cut to $20 from $21 at BofA Merrill
NY & Co. trims forcasts...
New York & Co. Inc. (NWY). The women's apparel chain on Monday widened its second-quarter loss outlook and also said it now expects about flat same-store sales for the second-quarter, compared with a rise in comparable-store sales it forecast last month.
First Solar responds to high demand in Europe...
First Solar Inc. (FSLR). The world's lowest-cost photovoltaic solar manufacturer on Tuesday said it plans to double production capacity at its German plant in Frankfurt an der Oder, to cater to strong European demand. The company said it is in advanced talks with German authorities to obtain the regulatory permits and financial framework for the expansion.
Earnings Expected Today....
• Bob Evans Farms Inc. (BOBE). Expected to report Q4 earnings of 63 cents a share, according to Thomson Reuters I/B/E/S
• Pall Corp. (PLL). Expected to report Q3 earnings of 50 cents a share
• Take Two Interactive Software Inc. (TTWO). Expected to report Q2 earnings of 27cents a share
• Talbots Inc. (TLB). Expected to report Q1 earnings of 16 cents a share
• Texas Instruments Inc. (TXN). Expected to report Q2 earnings of 61 cents a share
• Pall Corp. (PLL). Expected to report Q3 earnings of 50 cents a share
• Take Two Interactive Software Inc. (TTWO). Expected to report Q2 earnings of 27cents a share
• Talbots Inc. (TLB). Expected to report Q1 earnings of 16 cents a share
• Texas Instruments Inc. (TXN). Expected to report Q2 earnings of 61 cents a share
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