07:00 MBA Mortgage Index (3.8%)
10:00 New Home Sales
10:00 FHFA Housing Price Index
10:30 Crude Inventories
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AAPL - PT Lowered from $700 to $680 @ Oppenheimer. Outperform
QCOM - PT Lowered from $75 to $70 @ Oppenheimer. Outperform
SBUX - Starbucks upgraded to Buy from Neutral at BofA/Merrill based on valuation, strong EPS growth, and reduced investor expectations. Price target raised to $68 from $65.
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"Those who make peaceful change impossible will make violent revolution inevitable." ~ John F. Kennedy
"it does appear that there are a lot of people who are short metals because they think the U.S. economy is doing well. (It wouldn't surprise me if these are the same folks who didn't see the housing bubble.)"
BHP - BHP Billiton upgraded to Outperform from Sector Perform at RBC Capital citing valuation.
BMY - Bristol-Myers initiated with an Outperform at BMO Capital. Target $39
MRK - Merck initiated with a Market Perform at BMO Capital. Target $43
PBR - Petrobras upgraded to Buy from Hold at Societe Generale based on valuation.
SNDK - SanDisk initiated with a Hold at ThinkEquity. Target $35
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"Powerful government tends to draw into it people with bloated egos, people who think they know more than everyone else and have little hesitance in coercing their fellow man. Or as Nobel Laureate Friedrich Hayek said, 'in government, the scum rises to the top'." ~ Walter E. Williams
08:30 Initial Claims (370K) Full gubmint malarky here: http://is.gd/unHFuU
10:00 Philadelphia Fed
10:00 Leading Indicators
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SNDK - SanDisk initiated with a Positive at Susquehanna. Target $47
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"Our two-party system is a fraud, a sham, a delusion. On foreign policy, trade, immigration, Big Government, we have one-party government, one party press; and conservatives are being played for suckers." ~ Patrick J Buchanan
07:00 MBA Mortgage Index (9.2%)
08:30 Housing Starts (+2.6%)
09:15 Industrial Production
10:30 Crude Inventories
14:00 FOMC Minutes
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AET - Aetna downgraded to Hold from Buy at Argus based on increasing cost pressures following data that indicates an upturn in hospital admissions and surgical trends.
ERJ - Embraer upgraded to Outperform from Sector Perform at Scotia Capital.
NE - Noble Corporation upgraded to Outperform from Neutral at Macquarie given its aggressive newbuild strategy and strong free cash flow. Price target raised to $44 from $39.
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"... the next revolution ... will be when those who work refuse to support those who don't." ~ Walter Hickel
Good morning.
07:00 MBA Mortgage Index (3.8%)
10:00 New Home Sales
10:00 FHFA Housing Price Index
10:30 Crude Inventories
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AAPL - PT Lowered from $700 to $680 @ Oppenheimer. Outperform
QCOM - PT Lowered from $75 to $70 @ Oppenheimer. Outperform
SBUX - Starbucks upgraded to Buy from Neutral at BofA/Merrill based on valuation, strong EPS growth, and reduced investor expectations. Price target raised to $68 from $65.
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"Those who make peaceful change impossible will make violent revolution inevitable." ~ John F. Kennedy
Papa D,
Apparently, the conference call was not well received.....MUX down another 9% today. Ouch!
Thanks so much for your reports, I'm sure that many in here appreciate them.
Regards,
BH
You'd better be careful, Bill.
Did you realize that you can be arrested for criticizing President Obama?
You won't believe this:
http://is.gd/GlXXXC
(watch the video if you have time)
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What a wonderful public education system we have here in U.S.
CHA - China Telecom upgraded to Outperform from Neutral at Credit Suisse.
Good morning.
10:00 Existing Home Sales
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NFX - Newfield Exploration downgraded to Market Perform from Outperform at BMO Capital citing low single digit production growth profile.
SBUX - Starbucks initiated with an Overweight at Stephens. Target $66
SCHW - Charles Schwab downgraded to Underperform from Market Perform at Raymond James based on net margin concerns due to low rates.
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"Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies." ~ Groucho Marx
JMP Securities downgraded the following crime families to Underperform this morning:
BAC
C
JPM
MS
GS
Good morning.
BA - Boeing upgraded to Buy from Hold at Argus based on strong order flow and a record backlog. Price target $85.
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Outside the Cara 100 Universe:
GFI - PT Lowered from $25 to $22.60 @ HSBC. Overweight
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"Being elected to Congress is regarded as being sent on a looting raid for one's friends." ~ George F. Will
"it does appear that there are a lot of people who are short metals because they think the U.S. economy is doing well. (It wouldn't surprise me if these are the same folks who didn't see the housing bubble.)"
Full article here: http://is.gd/T2evol
JCP - price target was reduced at Morgan Stanley to $23. Consensus expectations may still have further to fall. Underweight rating.
WMT - estimates were raised at Morgan Stanley through 2014. Higher domestic sales are expanding margins. Equal-weight rating.
Good morning.
BHP - BHP Billiton upgraded to Outperform from Sector Perform at RBC Capital citing valuation.
BMY - Bristol-Myers initiated with an Outperform at BMO Capital. Target $39
MRK - Merck initiated with a Market Perform at BMO Capital. Target $43
PBR - Petrobras upgraded to Buy from Hold at Societe Generale based on valuation.
SNDK - SanDisk initiated with a Hold at ThinkEquity. Target $35
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"Powerful government tends to draw into it people with bloated egos, people who think they know more than everyone else and have little hesitance in coercing their fellow man. Or as Nobel Laureate Friedrich Hayek said, 'in government, the scum rises to the top'." ~ Walter E. Williams
JCP - price target was lowered at UBS to $29. Reducing price target to reflect decreased visibility. Neutral rating.
Philly Fed -5.8 vs. 8.8 expected
Leading Indicators -0.1% vs 0.2% expected
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Sorry Vad, didn't mean to step on you. ;>)
Good morning.
08:30 Initial Claims (370K) Full gubmint malarky here: http://is.gd/unHFuU
10:00 Philadelphia Fed
10:00 Leading Indicators
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SNDK - SanDisk initiated with a Positive at Susquehanna. Target $47
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"Our two-party system is a fraud, a sham, a delusion. On foreign policy, trade, immigration, Big Government, we have one-party government, one party press; and conservatives are being played for suckers." ~ Patrick J Buchanan
Highlights of Monday's conference call with CEO, Randy Smallwood and CFO, Gary Brown:
http://is.gd/kHdYMb
CSCO - The router and networking company, a key Dow component, is upgraded to Overweight from Equal Weight by Barclays.
JCP - estimates were reduced at Credit Suisse through 2014. Lower sales are hurting margins. Neutral rating and $35 price target.
Good morning.
07:00 MBA Mortgage Index (9.2%)
08:30 Housing Starts (+2.6%)
09:15 Industrial Production
10:30 Crude Inventories
14:00 FOMC Minutes
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AET - Aetna downgraded to Hold from Buy at Argus based on increasing cost pressures following data that indicates an upturn in hospital admissions and surgical trends.
ERJ - Embraer upgraded to Outperform from Sector Perform at Scotia Capital.
NE - Noble Corporation upgraded to Outperform from Neutral at Macquarie given its aggressive newbuild strategy and strong free cash flow. Price target raised to $44 from $39.
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"... the next revolution ... will be when those who work refuse to support those who don't." ~ Walter Hickel
goldfish crackers won't even smile at it.
AAPL - estimates were increased at Sterne Agee through 2013. Supplier checks suggest better iPhone sales, Sterne Agee said. Buy rating and $780 price target.
AMZN - Amazon.com initiated with a Buy at Topeka. Target $400
EA - Electronic Arts upgraded to Buy from Neutral at Hilliard Lyons.