wwwPosted Jul 2nd 2008 7:37AM by Douglas McIntyre
Filed under: Before the bell, Analyst upgrades and downgrades, General Motors (GM), Exxon Mobil (XOM)
Citi Investment Research maintained its "hold" rating on Biogen Idec (NASDAQ:BIIB) saying the firm "is poised to gain from higher prices for multiple sclerosis drugs," according to the AP.
Merrill Lynch downgraded GM (NYSE:GM) to "underperform" from "buy", according to Briefing.com. Bernstein upgraded Exxon Mobil (NYSE:XOM) to "outperform" from "market perform", the news service also reported.
Douglas A. McIntyre is an editor at 247wallst.com.
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Reader Comments (Page 1 of 1)
7-08-2008 @ 11:54AM
Beltway Greg said...
T. Boone Pickens is another in a long line of supposed market geniuses that needs to "Just Stop Talking." First he sees oil falling to $80/barrel. Then he reverses and sees it rising to $150/barrel. Now he sees it rising to $150 then falling to $100 within two years. Here's the real deal. The price of oil is indeed being controlled by speculators. At $100 it wasn't but when folks are searching for a reason and the price continues to rise you can be sure that speculators in many varied forms are to blame. In this case it was the hedge funds supported by the sovereign wealth funds but I'll let you read about in a book five years from now. We've got tons of supply, but we lack refining capacity and much of the supply is located, well you know the answer to that.
Beltway Greg
Oil $95/barrel Dec. 08