Reuters: Opel must now arrange for GM’s unexpected ownership
Reuters: The Fed will probably keep its “easy money” program.
Reuters: Toyota (NYSE:TM) will pull out of Formula 1 racing.
Reuters: The IEA will cut its long-term oil demand outlook. Read More
These are this Wednesday’s top 10 seen analyst upgrades, downgrades and initiations which we have seen from Wall Street research calls:
AK Steel (NYSE: AKS) Raised to Buy at Citigroup.
Apollo Group (NASDAQ: APOL) Cut to Neutral at BofA/Merrill.
BP plc (NYSE: BP) Cut to Hold at Citigroup; Raised to Neutral at Goldman Sachs.
Ceradyne (NASDAQ: CRDN) Raised to Market Perform at Wells Fargo.
IMS Health (NYSE: RX) Cut to Underperform at BofA/Merrill
SanDisk (NASDAQ: SNDK) Cut to Neutral at Goldman Sachs.
SunTrust (NYSE: STI) Raised to “Top Picks” list at Citigroup.
Target Corp. (NYSE: TGT) Raised to Buy from Sell at Citigroup.
Texas Instruments (NYSE: TXN) Raised to Buy at Goldman Sachs.
Wynn Resorts Ltd. (NASDAQ: WYNN) Raised to Outperform at Oppenheimer.
You can join our open email distribution list to get updates on top analyst upgrades and downgrades, top day trader alerts, IPO’s, secondary offerings, Warren Buffett and other guru activity, M&A and more.
JON C. OGG
OCTOBER 28, 2009
Reuters: The Nielsen survey shows consumer confidence up in the US for the first time since 2007.
Reuters: Obama’s financial reforms are advancing in Congress.
Reuters: The pay czar said his authority should not be expanded.
Reuters: Obama’s “too big to fail” bill would curb bailouts. Read More
Reuters: UBS (NYSE:UBS) will put in a new US chief.
Reuters: Goldman Sachs (NYSE:GS) says “dark pools” help investors.
Reuters: The US is welcoming the rise of the yuan.
Retuers: Nelson Peltz’s board seat at Legg Mason (NYSE:LM) may not signal change. Read More
Updated throughout the day.
Updated 10.53 AM EST Activision-Blizzard (NASDAQ:ATVI) “Guitar Hero 5″ is selling poorly. (Barron’s)
Update 9.47 AM EST: BP’s (NYSE:BP) new chairman will make significant changes to the oil company’s board. (Time of London)
Debt levels at US banks are above those of The Great Depression. (FTAlphaville).
Blackstone (NYSE:BX) may be planning an IPO of its European theme-park operator Merlin Entertainments next year. (The Deal)
Hollywood studios may push for a bigger share of Netflix revenue (NASDAQ:NFLX) (CNET).
The terms of Bank of America’s (NYSE:BAC) payback of federal funds may set bank values for the market (TheStreet).
OPEC will raise output if oil hits $100 (CNBC).
Douglas A. McIntyre
These are this Wednesday mornings top Wall Street analyst downgrades and cautious research calls we have seen early this morning:
Anglogold (AU) Cut to Neutral at Nomura.
BP plc (BP) Cut to Hold at RBS.
Cubist Pharmaceuticals (CBST) Cut to Neutral at RW Baird.
Gold Fields (GFI) Cut to Neutral at Nomura.
Smith & Nephew (SNN) Cut to Neutral at UBS.
St. Jude Medical (STJ) Cut to Hold at Canaccord.
Taiwan Semiconductor (TSM) Cut to Neutral at UBS.
You can join our open email distribution list which goes out several times per week for reminders of the top day trader alerts, analyst upgrades and downgrades, IPO’s, key secondary offerings, guru investor data on Buffett and others, mergers, and more.
JON C. OGG
Markets in Asia were higher.
The Nikkei rose 1.1% to 9,800.
The Hang Seng was up up 2.5% t0 21,325.
Shanghai was closed for a holiday.
At the open in Europe, the FTSE was down .5% to 5,112. BP (NYSE:BP) and Barclay (NYSE:BCS) both fell. The Dax dropped .5% to 5,627. The CAC 40 dropped .5% to 3,753.
Data from MarketWatch and Reuters.
Douglas A. McIntyre
Markets in Asia were narrowly mixed.
The Nikkei was down .6% to 9,674.
The Hang Seng moved up .3% to 20,434. The market in Shanghai was closed.
At the open in Europe, the FTSE was flat at 4,986. BP (BP) fell. The Dax was down .2% to 5,458. The CAC fell .3%.
Data from MarketWatch and Reuters.
Douglas A. McIntyre
Several consulting firms post annual figures for the world’s most valuable brands. The two best known are probably the Interbrand and BrandZ surveys. They are notably different, up until now at least. BrandZ includes a number of large brands from Asia. Interbrand does not.
24/7 Wall St. has put together a list of the most valuable brands of 2009 by looking at valuation calculations from a number of sources. Then a base valuation was taken from the 2008 Interbrand data to fix values for this year and changes from last.
Most methods take into account the future earnings of a brand for its parent company. This is fundamentally a guess particularly during a turbulent period in the global economy. Interbrand’s rule is that a brand most get at least a third of its revenue from outside its country-of-origin. That is arbitrary, particularly as it apply to brands in China.
24/7 Wall St. has made the assumption that the value of most brands have been hurt log-term by the deep recession. Forward earnings estimates for many of the firms on this list show that. Those brands which post value improvements show much more modest increases than they would be in a stable economy.
Looking at the Interbrand list from last year, it is fair to ask why firms like Nissan, Wal-Mart (WMT) and Red Bull are not present.
Because the brands on this list are taken from names on the Interbrand survey, we have not made a calculation about which companies may be new to their list in 2009 or which may drop off.
Public firms which are part of this ranking include (KO)(IBM)(MSFT)(GOOG)(GE)(NOK)(TM)(INTC)(MCD)(DIS)(HPQ)(AXP)(C)(HMC)(ORCL)(AAPL)(SNE)(PEP)(HBC)(NKE)(UPS)(FDX)(SAP)(DELL)(JPM)(GS)(KL)(EBAY)(SI)(F)(AIG)(AMZN)(CAT)(AVP)(RIMM)(GPS)(TIF)(BP)(SBUX)(JNJ)(MAR)(V)
The 100: Read More
Reuters: The sell-off in Chinese stocks may be overdone based on earnings.
Reuters: A report blamed the SEC for not doing its job investigating Madoff.
Reuters: The Fed says the risks to the American economy have dropped.
Reuters: A Pfizer (PFE) whistleblower made more than $51 million. Read More
BP (BP) said it has made a “giant” discovery of crude oil in its Tiber Prospect in the Gulf of Mexico. The well was drilled to a depth of over 35,000 feet and the ocean floor at that spot is about two thousand feet under water.
Estimates are that the field could hold three billion barrels of oil, if drillers can get to it. That makes the find seem similar to one by Petrobras (PBR) in the Tupi field off the coast of Brazil. Read More
These are this Tuesday’s top day trader and active trader alert stocks. We have links through to each with more detailed price/volume analysis over at VSinvestor.com:
BP PLC (NYSE: BP) is up big by over 3% for an oil giant pre-market after a big oil discovery in the Gulf of Mexico.
Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) are getting hit hard again this morning, but this time of the Mortgage Bankers Association recommending for Congress to effectively dump these in favor of a new program.
Joy Global, Inc. (NASDAQ: JOYG) is trading higher by over 4% on high volume after beating earnings handily.
PowerShares DB Crude Oil Double Long Exchange Traded Notes (NYSE: DXO) is going to be closed down and will disappear and holders are selling since it won’t trade normally with its benchmark.
Tower Semiconductor Ltd. (NASDAQ: TSEM) was up, but only marginally, after raising guidance.
VeriFone Holdings Inc. (NYSE: PAY) is surging and now everyone who bough since NOVE-2008 is profitable after earnings and after settling with the SEC.
Vonage Holdings (NYSE: VG) is trading up sharply and back above $2.00… yet again. This is over the Apple App being approved, as should have been expected.
You can join our open email distribution list which goes out several times per week if you wish to be notified by email when the top day trader alerts hit, along with news of IPO’s, key offerings, guru investor data on Buffett and others, mergers, and more.
JON C. OGG
SEPTEMBER 2, 2009
The Times of London claims that people within the British government turned over convicted Lockerbie bombing participant Abdelbaset Ali Mohmed al-Megrahi to Libya as part of an attempt to secure a major oil deal. The Times reported “Gordon Brown’s government made the decision after discussions between Libya and BP over a multi-million-pound oil exploration deal had hit difficulties.” The heinousness of the Lockerbie bombing gives the apparent “trade” a special level of abhorrence, but it is not the first time that the interests of profits have outweighed better ethics. Read More
Stocks is Asia were higher.
The Nikkei was up 1.4% to 10,640. Toyota (TM) gained as planned to cut costs.
The Hang Seng moved higher by .1% to 29,452. China Life (LFC) rose.
The Shanghai Composite was up 1.8% to 2,968.
At the open in Europe, the FTSE was down .3% to 4,900. BP (BP) fell. The Dax dropped .4% to 5,536. The CAC 40 was down .4% to 3,666.
Data from Reuters and MarketWatch.
Douglas A. McIntyre
Markets in Asia rose.
The Nikkei was up 1.8% to 10,383.
The Hang Seng was up 2.3% to 20,407. PetroChina (PTR) was up sharply.
The Shanghai Composite rocketed up 4.5% to 2,912.
At the open in Europe, the FTSE rose 1% to 4,736. BP (BP) was up as energy prices rose. Rio Tinto (RTP) and BHP Billilton (BHP) were also higher. The Dax rose 1.1% to 5,289. The CAC 40 was higher by 1.3% to 3,495.
Data from MarketWatch and Reuters.
Douglas A. McIntyre
Reuters: The recession has badly hurt investments in green technologies.
Reuters: Obama called for deeper China ties with the US.
Reuters: BP’s (BP) profits fell sharply.
Reuters: Bank of America (BAC) will cut 10% of its branches Read More
Markets in Asia were narrowly mixed.
The Nikkei was down a fraction of a percent at 10,087.
The Hang Seng was up 1% to 20,444. China Mobile (CHL) and China Unicom (CHU) both rose.
The Shanghai Composite was up .1% to 3,238.
At the open in Europe, The FTSE rose .4% to 4,605. BP (BP) moved up. The Dax increased by .3% to 5,267. Deutsche Bank (DB) was up sharply. The CAC 40 moved up .3% to 3,383.
Data from Reuters and MarketWatch.
Douglas A. McIntyre
China is in the midst of something just short of a global buying spree of crude reserves, metal and mining companies, tech concerns, and manufacturing operations. It would be easy to say that the effort will lose its momentum when the economy of the world’s most populous nation hits a wall as the Japanese did in the 1990s. China’s central government and the nation’s huge consumer base may allow the country to avoid that fate, even if its massive export base is temporarily damaged by the global recession. Japanese interests temporarily had the capital to make purchases of assets all over the world in the 1980s, but the island country never had the capacity to match the buying power of China’s middle class or the astonishing amount of capital that China has built up in its treasury after years of budget surpluses. China may even be able to pass through a recession without entering a prolonged downturn and the stagflation that crippled Japan for the better part of a decade. China has the access to raw materials within its borders and inexpensive rural labor which Japan never had. It also has a central government which largely controls the use of massive amounts of the country’s capital. Read More
Reuters: California declared a financial emergency.
Reuters: An SEC attorney raised concern about a Madoff report in 2004.
Reuters: Auto parts supplier Lear filed for bankruptcy.
Reuters: NYC apartment sales are down more than 50%.
Reuters: Beijing Automotive will bid for Opel.
Reuters: GM told a judge asset sales was its only option. Read More
Markets in Asia were higher.
The Nikkei rose 2.2% to 9,796.
The Hang Seng was up 2% to 18,258.
The Shanghai Composite rose .1% to 2,925.
At the open in Europe, the FTSE was off .4%to 4,264. (BP moved higher) The Dax was down .6% to 4,804. The CAC 40 dropped .6% to 3,167.
Data from Reuters and MarketWatch.
Douglas A. McIntyre
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