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Closing Bell: Bad Was Just Less Bad (GS, TGT, GS, IMOS)

Today was an odd trading day. Europe took us down yesterday, then the same news took us down today after the E.U. markets dipped down about 2% when our markets were opening. A low CPI offered solid help in theory, but inflation data is not really pertinent after a $15 drop in oil over the last month. Then came a more confident FOMC from the minutes of the April-end FOMC meeting. Markets were still soft at the end of the trading day, but the triple-digit losses were less extreme by the end of the trading day.

Dow 10,444.37 -66.58 (-0.63%)
S&P 500 1,115.05 -5.75 (-0.51%)
Nasdaq 2,298.37 -18.89 (-0.82%)

Top Analyst Upgrades/Downgrades

Continue reading Closing Bell: Bad Was Just Less Bad (GS, TGT, GS, IMOS)

Analyst calls: INTC, DT, ANF, RIMM, WFC, FITB, TDW, ROK ...

Analyst upgrades:
  • Piper upgraded Intel (NASDAQ: INTC) to Buy from Neutral to reflect the company's strong competitive position and low valuation. The firm does not expect Intel to miss Q3 estimates.
  • Goldman upgraded shares of Deutsche Telecom (NYSE: DT) to Buy from Neutral and added the stock to the Conviction Buy List as they believe the dividend is well covered.
  • Wachovia upgraded Landstar System (NASDAQ: LSTR) to Outperform from Market Perform on valuation and potential near-term catalysts from hurricane-related activities.
  • Abercrombie & Fitch (NYSE: ANF) was raised to Outperform from Market Perform at Friedman Billings.
  • Research in Motion (NASDAQ: RIMM) was upgraded at JMP Securities to Outperform from Market Perform.
  • Baird lifted Wells Fargo (NYSE: WFC) to Neutral from Underperform.
Analyst downgrades:
  • Jefferies downgraded VCA Antech (NASDAQ: WOOF) to Underperform from Buy as they believe reduced consumer spending and rising unemployment levels will hurt the company's hospital and lab volumes in FY09. The company's target was lowered to $25 from $35.
  • Oppenheimer downgraded shares of Total System (NYSE: TSS) to Perform from Outperform to reflect the challenging macro environment and the customer portfolio risk from bank consolidation.

Continue reading Analyst calls: INTC, DT, ANF, RIMM, WFC, FITB, TDW, ROK ...

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

Last updated: February 10, 2012: 10:59 PM

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