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Morning Update: Global Markets Mixed; BJ's, Target Post Earnings

A Peek into Global Markets

European markets traded mixed today. While the STOXX Europe 600 Index has advanced 0.29%, London's FTSE 100 Index moved down 0.07%. Mostly, Asian markets ended lower, with Japan's Nikkei Stock Average adding 0.15%, Australia's S&P/ASX 200 moving down 1.63% and China's Shanghai Composite losing 1.92%.

Broker Recommendation


Following Volterra Semiconductor (VLTR) analyst day meeting, Collins Stewart left feeling incrementally more positive with the company's longer term outlook and reiterated its buy rating.

Continue reading Morning Update: Global Markets Mixed; BJ's, Target Post Earnings

Analyst initiations 5-30-07: Delta Air Lines, Dell initiated

MOST NOTEWORTHY: PennantPark (PNNT), Delta Air Lines (DAL) and several insurance companies were today's noteworthy initiations:
  • PennantPark Investment Corp. (NASDAQ: PNNT) was initiated with a Buy rating and $17 target at Jefferies. The finds shares compelling given the potential dividend growth and book multiple expansion. PennantPark was also initiated at Keefe Bruyette with an Outperform rating and $18 target, at Banc of America with a Buy rating and $16 target and at Friedman Billings with an Outperform rating and $17 target.
  • Delta Air Lines Inc. (NYSE: DAL) was initiated at Bear Stearns with a Peer Perform rating and at Cathay Financial with an Outperform rating.
  • Banc of America initiated RenaissanceRe Holdings Ltd. (NYSE: RNR) with a Buy rating and Montpelier Re Holdings Ltd. (NYSE: MRH) and IPC Holdings Ltd. (NASDAQ: IPCR) with Neutral ratings.
OTHER INITIATIONS:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

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: 07:50 PM

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