The markets are a little tricky here but there are stocks that are on the move. There is some chopppy action out there and that just means we need to be quick taking trades and profits. Like I said this weekend I think a correction in the markets would be very healthy. Looks like we are going to open up this morning lets see if it holds.
Stocks on my radar this morning in addittion to last nights list
$MITK,$BBRY upgrade,$CHTP,$HIMX,$IMUC,$RENN, ONCY, $EGHTpr,$TEAR earnings,$STEM pr and earnings
Seeking Alpha
Today's Markets:
In Asia, Japan closed. Hong Kong +1% to 22256. China +2.7% to 2317. India -0.7% to 18884.
In Europe, at midday, London +0.1%. Paris +0.5%. Frankfurt +0.5%.
Futures at 7:00: Dow +0.25%. S&P +0.35%. Nasdaq +0.6%. Crude +0.6% to $92.74. Gold flat at $1610.60.
Today's economic calendar:
7:00 MBA Mortgage Applications
10:30 EIA Petroleum Inventories
2:00 PM FOMC Announcement
2:00 PM FOMC Forecast
2:15 PM Bernanke Press Conference
Notable earnings before today's open: FDX, GIS, LEN
Notable earnings after today's close: GES, JBL, ORCL, PSUN, SVM
Briefing.com
Up/Downgrades |
| Today's Upgrades: | ||
| Company | Ticker | Brokerage Firm |
| Syntel | SYNT | Susquehanna |
| BlackBerry | BBRY | Morgan Stanley |
| Walgreens | WAG | JP Morgan |
| Spreadtrum Comms | SPRD | Jefferies |
| Polycom | PLCM | Goldman |
| AmerisourceBergen | ABC | Citigroup |
| Walgreens | WAG | Citigroup |
| Today's Downgrades: | ||
| Company | Ticker | Brokerage Firm |
| Yara ASA | YARIY | JP Morgan |
| Shoe Carnival | SCVL | Northcoast |
| Adobe Systems | ADBE | Stifel |
| Coventry Health Care | CVH | Wells Fargo |
| Maxwell Tech | MXWL | Piper Jaffray |
| AGCO Corp | AGCO | Wells Fargo |
| Symantec | SYMC | Oppenheimer |
| Deere | DE | Wells Fargo |
| Zynga | ZNGA | BofA/Merrill |
| Cardinal Health | CAH | Citigroup |
| Tesoro Logistics LP | TLLP | Wunderlich |
| Cimarex | XEC | FBR Capital |
| Cardinal Health | CAH | ISI Group |
| AmerisourceBergen | ABC | ISI Group |
Gapping down
In reaction to disappointing earnings/guidance: FTEK
-8.3%, FDX -4.0%, CTAS
-2%, GTIV -0.9%, GIS -0.9%, CNW -0.9%, ( issues Q1
update: Weight per day in
the first quarter of 2013 is expected to be down
approximately 1.5%), .
Select solar stocks trading lower following STP news: STP
-39.4% (confirms
group of eight Chinese banks filed a petition for
insolvency and restructuring
of its Chinese subsidiary Wuxi Suntech Power Holdings;
parent co STP has not
commenced insolvency proceedings), YGE -1.7%, FSLR -0.5%,
SPWR -0.5%, LDK
-0.4% .
Other news: PKY -22.5% (announces pricing of public
offering of 11 mln shares
of common stock at $17.25 per share), MXWL -5.9% (files
to delay filing of
10-K, downgraded to Neutral from Overweight at Piper
Jaffray), VOD -4.3%
(reports out discuss company comments on potential lower
debt ratings and
acquisition pursuit), MEMP -3.9% (commenced an
underwritten public offering of
8,500,000 common units representing limited partner
interestst), NMFC -3% (commences primary offering of 2,000,000 shares of common stock and secondary
offering of 4,000,000 shares of common stock on behalf of selling
stockholder), RLJ -2.8% (announces public offering of 11.5 mln common shares
of beneficial interest), CHK -1.8% and VLO -0.7% (still checking), X -1%
(announced its intention to offer, subject to market and other conditions,
$250 million aggregate principal amount of senior convertible notes due 2019
and $250 million aggregate principal amount of senior notes due 2021), MBI
-1.2% (MBIA mentioned cautiously in NYPost story), UPS -1% (down on FDX
results), EXXI -0.6% (Energy XXI announces Gulf of Mexico Joint Venture with
Apache and provides operations update), HE -0.4% (prices 6.1 mln shares of
common stock at $26.75 per share), CSII -0.2% (prices 2 mln share offering at
$17.60 per share), .
Analyst comments: ZNGA -3.5% (downgraded to Neutral from
Buy at BofA/Merrill
), DE -0.9% (downgraded to Underperform from Market
Perform at Wells Fargo).
Gapping up
In reaction to strong earnings/guidance: WSM +5.1%, ADBE
+5.1% (also announces
Adobe Creative Cloud has exceeded 500,000 paid individual
members), FRAN
+4.3%, LEN +1.4%, AIR +0.7%, (light volume).
M&A related: OMPI (halted, Valeant Pharmaceuticals to
acquire Obagi Medical
Products, Inc. For $19.75 per share in cash), SPLS +1.8%
(Intrepid Capital
Funds President says SPLS is a "bite size"
acquisition for a P/E firm; notes
valuation, cash holdings and that financing would be
available).
Select financial related names showing strength: NBG
+4.4%, RBS +2.9%, SAN
+2.9%, ING +2.2%, MS +1.5%, DB +0.8% (increases
provisions for litigation by
EUR0.6 bln to EUR2.4 bln), .
A few oil/gas related names showing strength on company
specific news: CIE
+6.5% and APC +2.4% (Shenandoah Appraisal Well Encounters
More Than 1,000 Net
Feet of Oil Pay), COP +1.2% (ConocoPhillips Announces
Significant Oil
Discovery in Deepwater Gulf of Mexico and Provides
Program Update), .
Other news: GEVO +16.5% (continued strength on patent
lawsuit win), EAC +14.9%
(Announces Acquisition of Evergreen Helicopters for $250
mln; acquisition is
expected to be immediately accretive to EAC's EPS), GTI
+5.4% (CEO discloses
purchase of 40K shares at $7.32; CFO discloses purchase
of 14K shares at
$7.27), RENN +4.4% (still checking), PSTI +3.4% (reports
on the progress of
its Phase I/II clinical trial for the treatment of muscle
injury), TRLG +3.1%
( announces leadership transition plan: Jeffrey Lubell to
Step Down as CEO,
Lynne Koplin Interim CEO; review of strategic
alternatives remains ongoing).
Analyst comments: PLCM +6.1% (upgraded to Buy fom Neutral
at Goldman), BBRY
+6% (upgraded to Overweight from Equal-Weight at Morgan
Stanley ), WAC +4.9%
(upgraded to Buy from Neutral at Sterne Agee), SPRD +2.9%
(ticking higher,
upgraded to Buy from Hold at Jefferies), WAG +2.1%
(upgraded to Buy from Sell
at Citigroup, upgraded to Overweight from Neutral at
JPMorgan), CMI +1.2%
(upgraded to Outperform from Market Perform at William
Blair), BBY +0.8%
(resumed with an Outperform at Credit Suisse), WFM +0.4%
(initiated with a
Market Perform at Raymond James) 
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