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Closing Bell: Preparing for Earnings, with Bonds Closed (GYMB, ALXA, IBM, DLTR, CIT, POT)

With bonds closed and banks closed, equities here in the U.S. had a hard time trying to decide which direction the wind was blowing. The DJIA 11,000 mark was flirted with again in afternoon trading, this time on the downside on what appears to have been a positive close. Some M&A was a help, but investors used today and will likely use tomorrow to determine how they want to be positioned as earnings season kicks off.

Here were today's unofficial closing levels:

Dow Jones 11,008.59 +2.11 (0.02%)
S&P 500 1,165.04 -0.11 (-0.01%)
Nasdaq 2,402.33 +0.42 (0.02%)

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Continue reading Closing Bell: Preparing for Earnings, with Bonds Closed (GYMB, ALXA, IBM, DLTR, CIT, POT)

Analyst upgrades: Goldman Sachs, Alexza Pharma, SAP

MOST NOTEWORTHY: Goldman Sachs, Alexza Pharma and SAP AG were today's noteworthy upgrades:
  • Wachovia upgraded Goldman Sachs (NYSE: GS) to Outperform from Market Perform, as they believe Goldman has a superior capital position relative to competitors and will likely benefit more than any firm from Bear Stearns' (NYSE: BSC) collapse. They have a $180-$185 target range for the stock.
  • Following Alexza Pharma's (NASDAQ: ALXA) Q4 report, JMP Securities said they have reduced concerns regarding Loxapine timelines and risks. The firm raised Alexza to Outperform from Market Perform.
  • SAP AG (NYSE: SAP) was upgraded to Outperform from Market Perform at Bernstein on valuation and a positive view on fundamentals.
OTHER UPGRADES:
  • Tyson Foods (NYSE: TSN) was raised to Overweight from Equal Weight at Stephens.
  • Citigroup upgraded Teekay Shipping (NYSE: TK) and General Maritime (GMR) to Buy from Hold.
  • RiskMetrics (NYSE: RMG) was upgraded to Buy from Neutral at Banc of America.

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 11, 2012: 02:23 AM

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