Markets in Asia were lower.
The Nikkei fell 1.2% to 10,253. Toyota (TM) dropped on earnings.
The Hang Seng fell 1.2% to 20,512.
The Shanghai Composite fell 1.2% to 3,247.
At the open in Europe, the FTSE was down .3% to 4,659. BHP Billiton (BHP) fell. The Dax was off .4% to 5,396. Shares in Axa (AXA) rose.
Data from Reuters and MarketWatch.
Douglas A. McIntyre
These are the top analyst downgrades and cautious calls we have seen from Wall Street analysts this Monday morning:
American Tower (AMT) Cut to Sector Perform at RBC.
AXA (AXA) Cut to Underweight at JPMorgan.
Blue Nile (NILE) Cut to Hold at Citigroup.
CA Inc. (CA) Cut to Hold at Jefferies.
FactSet (FDS) Started as Sell at Auriga.
IBM (IBM) Cut to Hold at Canaccord Adams.
Interactive Brokers (IBKR) Cut to Underperform at KBW.
IntercontinentalExchange (ICE) Cut to Underperform at KBW.
Novell (NOVL) Cut to Hold at Jefferies.
SBA Communications (SBAC) Cut to Sector Perform at RBC.
Viacom (VIA) Cut to Equal Weight at Barclays.
JON C. OGG
These are some of the top pre-market analyst upgrades and positive calls we have seen this Tuesday morning with well over two hours until the market opens:
AXA (AXA) Started as Buy at Jefferies.
Energy Conversion Devices (ENER) Raised to Buy at Piper Jaffray.
Infineon (IFX) Raised to Hold at RBS.
Manpower (MAN) Raised to Neutral from Sell at Goldman Sachs.
Rio Tinto (RTP) Raised to Buy from Hold at Deutsche Bank.
XTO Energy (XTO) Raised to Outperform at RBC.
Jon C. Ogg
February 10, 2009
Markets in Europe were slightly lower at 6.50 AM New York time.
The FTSE was off .4% to 5,895. Barclays (BCS) was off 2.9% to 489.5. British Air was down 3% to 240.
The DAXX fell .5% to 6,747. Commerzbank was down 4.5% to 21.57. Infineon was off 2.6% to 4.94.
The CAC 40 fell .3% to 4,894. AXA (AXA) was down 2.6% to 24.77. Credit Agricole was down 3.7% to 20.88
Data from Reuters
Douglas A. McIntyre
Markets in Europe were up at 6.40 AM.
The FTSE was up .7% to 5,744. Barclays (BCS) was up 4.6% to 474 BP (BP) was down 1.9% to 502.5.
The DAXX rose 1.4% to 6,629. Deutsche Bank (DB) was up 3.2% to 74. Infineon was up 6.1% to 4.72.
The CAC 40 rose 1.3% to 4,766. Alcatel-Lucent (ALU) was up 3.3% to 3.74.AXA (AXA) was up 3.1% to 23.7.
Data from Reuters.
Douglas A. McIntyre
Markets in Europe were higher at 7 AM New York time.
The FTSE was trading up 1.1% to 5,725. Barclays (BCS) was up 3.2% to 459. HBOs was up 4.6% to 566.5.
The DAXX rose 1.4% to 6,578. Commerzbank was up 3.5% to 19.71. SAP (SAP) was down 4.2% to 31.27.
The CAC 40 moved up 1% to 4,723. AXA (AXA) rose 2.6% to 23.08. BNP Paribas was up 2.4% to 65.14.
Data from Reuters
Douglas A. McIntyre
Markets in Eruope rose sharply at 4.40 AM New York time.
The FTSE was up 3.3% to 5,678. Barclays (NYSE:BCS) was up 10.2% to 472.75. Lloyds ws up 7.1% to 465.
The DAXX rose 3.2% to 6,519. Deustche Bnk (NYSE:DB) was up 5% to 73.78 marks. Siemens (NYSE:SI) was up 2.5% to 58.7.
The CAC 40 traded higher 3.2% to 4,680. Alcatel-Lucent (NYSE:ALU) was up 4.7% to 3.54 francs. AXA (NYSE:AXA) was up 4.6% to 22.05.
Data from Reuters
Douglas A. McIntyre
Markets in Europe were off modestly at 7 AM New York time.
The FTSE was down .6% to 5,512. BP (BP) was down 1.9% to 505. British Air was up 3.9% to 231.75.
The DAXX fell .1% to 6,355. BMW was up 3.4% to 34.9. Siemens (SI) was off 1.4% to 67.95.
The CAC 40 dropped .6% to 4,530. Alcatel-Lucent (ALU) was up 4.3% to 3.42. AXA (AXA) was down 2% to 20.32.
Data from Reuters
Douglas A. McIntyre
Markets in Europe were down sharply at 6.40 AM New York time.
The FTSE fell 1.2% to 5,697. BHP Billiton (BHP) dropped 4.4% to 1606. Rio Tinto (RTP) fell 3.3% to 5613.
The DAXX sold off 1.2% to 6,512. Siemens (SI) was off 1.6% to 81.9. Thyssen Krup was down 3.5% to 36.8.
The CAC 40 dropped. 1.1% to 4,625. AXA (AXA) was down 2.7% to 20.55. Veolia Environnement was down 6.5% to 51.37.
Data from Reuters
Douglas A. McIntyre
Stocks fell in Europe at 6.55 AM New York time.
The FTSE was off .8% to 6,033. Whitbread rose 7.1% to 1313. Vodafone (VOD) fell 1.1% to 162.4.
The DAXX dropped .8% to 6,941. Bayer (BAY) fell 3.4% to 52.26. Siemens (SI) fell 2.3% to 89.98.
The CAC 40 sold off .8% to 4,929. AXA (AXA) fell 2.5% to 23.25. EADS dropped 2.9% to 18.25.
Data from Reuters
Douglas A. McIntyre
According to Reuters, Fed chief Bernanke said the Fed was ready to help the economy if necessary.
Reuters writes that financial results at Deutsche Telekom (DT) met expectations for 2007.
Reuters writes that Nortel (NT) sees is growth in Asia and the telecom rstructuing in China.
Reuters writes that profits at AXA (AXA) rose slightly but missed expectations.
The Wall Street Journal writes that Paulson has rejected the rescue plan for homeowners saying that it is a :bailout:.
The Wall Street Journal writes that Alcoa (AA) faces bribery charges from a company controlled by Bahrain.
The Wall Street Journal reports that municipalities are being hit with high interest on variable-rate demand notes.
The Wall Street Journal writes that Fannie Mae (FNM) expects home prices to continue to fall this year.
The Wall Street Journal writes that the ITC upheld a decision that Nokia (NOK) did not infringe on certain Qualcomm (QCOM) patents.
The Wall Street Journal writes that some write-downs by big banks can be recouped, if and when the value of the securities rise.
The Wall Street Journal writes that the DJIA is benefiting for fairly good earnings at its companies outside the financial industry.
The Wall Street Journal writes that Delta (DAL) and Northwest (NWA) fell as a merger looks less likely.
The New York Times writes that GE (GE) will use the Olympics to get out a global marketing message.
The FT writes that private equity firms are turning to sovereign funds for capital.
The FT reports that the Apple (AAPL) iPhone was one of the top 10 selling handsets in Q4 07.
Douglas A. McIntyre
Markets in Europe were lower at 6.50 AM New York time.
The FTSE was off .5% to 5,996. Barclays (BCS) was off 2.6% to 469. BP (BP) was up 2.3% to 554.5.
The DAXX fell .5% to 6,963. Man AG was down 3.1% to 85.87. Siemens (SI) was off 1.3% to 89.65.
The CAC 40 sold off .7% to 4,937. AXA (AXA) was down 2% to 23.14. Cap Gemini was off 2.5% to 37.45.
Data from Reuters
Douglas A. McIntre
Markets in Europe are down at 7.10 AM New York time.
The FTSE is off .7% to 5,844. BP (BP) is off 1.3% to 526.5. Rio Tinto (RTP) is up 3% to 4,810.
The Daxx is trading down .5% Infineon is up 5.7% to 6.73. SAP (SAP) is up 1.5% to 31.93.
The CAC 40 is down 1.7% to 4,860. Alcatel-Lucent (ALU) is down 2.5% to 23.2. AXA (AXA) is off 1.7% to 23.20. Societe Generale is up 1.5% to 79. 66.
Data from Reuters.
Douglas A. McIntyre
Markets in Europe were up sharply at 6.30 AM.
The FTSE is up 4.7% to 5,854. BHP Billiton (BHP) is up 6.5% to 1352. BP (BP) is rising 5.9% to 533.
The DAXX 5.8% to 6,813. Commerzbank is up 6.7% to 20.37. Siemens (SI) is rising 5.1% to 86.44.
The FTSE moved up 4.8% to 4,859. AXA (AXA) is up 9.7% 24.14. BNP Paribas is 8.7% to 69.1.
Data from Reuters
Douglas A. McIntyre
Tuesday could bring a 1,000 point drop on the Dow, especially if markets in Asia and Europe repeat their Monday performances tomorrow. China’s big Hang Seng index fell 5.5% to 23,818. The percentage drop in Shanghai was a bit less.
Europe markets have also been off over 5% most of the day with the German DAXX and French CAC 40 leading the way. Huge multinational Siemens (SI) has fallen as much as 7.3%. French financial services giant AXA (AXA) has been off almost 8%.
A 6% drop on the Dow tomorrow would be almost 750 points. If concerns over a US recession and the lack of real solutions in the Bush economic stimulation plan rattle the markets more Dow components like Citigroup (C), JP Morgan (JPM), and American Express (AXP) could be hit especially hard.
Bank of America (BAC) and Apple (AAPL) report tomorrow. If the market thinks those companies might report below consensus the shares could be pushed down early.
For the Dow to drop 1,000 points it would have to sell of 8%. On October 19, 1987 the index sold off over 22% and it lost 7% of its value in one trading day on both September 21, 2001 and April 14, 2000.
With the deep concerns with the market, it could happen again.
Douglas A. McIntyre
Markets in Europe were down significantly at 7.20 AM
The FTSE fell 4.9% to 5,613. BHP Billiton (BHP) was off 7.5% to 1275. BT (BT) was off 5% to 262.
The DAXX dropped 6.5% to 6,839. Deutsche Bank (DB) was off 7.1% to 72.82. Siemens (SI) was down 7.4% to 85.24. SAP (SAP) was down 8.3% to 30.9.
The CAC 40 was selling off 6.3% to 4,773. AXA (AXA) is off 9.4% to 22.29. BNP Paribas is down 8.5% to 63.52.
Data from Reuters.
Douglas A. McIntyre
Markets in Europe were modestly lower at 7.10 AM New York time
The FTSE fell .7% to 6,177. British Airways rose 4.5% to 280. Diageo fell 4% to 1009.
The DAXX dropped .4% to 7,685. Infineon was down 4.4% to 6.67. Metro was up 2.1% to 55.42.
The CAC 40 fell .5% to 5,376. AXA (AXA) rose 1.3% to 25.98. Danone fell 3.8% to 57.9
Data from Reuters
Douglas A. McIntyre
Markets in Europe were up modestly at 7.05 AM New York time.
The FTSE rose .2% to 6,494. Barclays (BCS) fell 1.7% to 508. RBS (RBS) rose 1.3% to 448.5.
The DAXX moved up .8% to 8,067. Deutsche Bank (DB) moved up 1.8% to 89.42. Man AG rose 1.6% to 111.78.
The CAC 40 traded higher by .7% to 5,653. AXA (AXA) rose 2.7% to 27.68. Cap Gemini fell 3.2% to 43.55.
Data from Reuters
Douglas A. McIntyre
Markets in Europe were mixed at 6.20 AM New York time.
The FTSE was off .2% to 6,353. Northern Rock was up 9.3% to 94. BHP Billiton (BHP) was down 1.7% to 1543.
The DAXX was up a fraction at 7,929. SAP (SAP) was down 1% to 35.45. Siemens (SI) was up 1% to 105.51.
The CAC 40 was down .3% to 5,574. AXA (AXA) was off 1.3% to 27.23. BNP Paribas was down 1.3% to 73.79.
Data from Reuters
Douglas A. McIntyre
Markets in Europe were down sharply at 6 AM New York time.
The FTSE fell 1.6% to 6,452. Barclays (BCS) was off 4.7% to 530. BHP Billiton (BHP) was off 3.1% to 1619. Prudential (PUK) was off 3.7% to 685.5.
The DAXX dropped 1.1% to 7,989. Commezbank fell 2.4% to 27. Siemens (SI) was off 1.8% to 105.34.
The CAC 40 was down 1.7% to 5,643. Alcatel-Lucent (ALU) was off 3.7% to 5.42. AXA (AXA) was down 3.2% to 27.41 Societe Generale was off 3.3% to 102.21.
Data from Reutes.
Douglas A. McIntyre
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