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Closing Bell: Market Dips After Long Winning Streak (NEXM, LXK, PT, TLAB, MMM)

Posted Apr 27th 2010 4:20PM by Jon Ogg (RSS feed)
Filed under: 3M Corporation (MMM)

Stronger than expected consumer confidence results didn't matter to traders today. Concerns about Greece and other PIIGS nations dominated the market after S&P cut Portugal's debt ratings. Testimony from Goldman Sachs in Washington D.C. captured almost all of the day's media attention. The closing bell also came in effectively at the lows of the trading day.

Here were the unofficial closing bell levels:

Dow 10,991.99 -213.04 (-1.90%)
Nasdaq 2,471.47 -51.48 (-2.04%)
S&P 500 1,183.71 -28.34 (-2.34%)

Continue reading Closing Bell: Market Dips After Long Winning Streak (NEXM, LXK, PT, TLAB, MMM)

Analyst downgrades: GS, LEH and AMTD

Posted Mar 17th 2008 10:52AM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Bank of New York (BK), Goldman Sachs Group (GS), TD AmeriTrade Holding (AMTD), ,

MOST NOTEWORTHY: Goldman Sachs, Lehman and TD AmeriTrade were today's noteworthy downgrades:

UBS downgraded Goldman Sachs (NYSE: GS) to Neutral from Buy. The firm believes liquidity problems and de-leveraging in the capital markets will get worst before they get better; UBS also downgraded Bank of New York (NYSE: BK), State Street (NYSE: STT) and Invesco (NYSE: IVZ) to Neutral from Buy.
Following Bear Stearns' (NYSE: BSC) downfall, UBS also downgraded Lehman Brothers (NYSE: LEH) to Neutral from Buy and said the company could be the "next on the list" for the confidence/liquidity crisis by some investors.
TD AmeriTrade (NASDAQ: AMTD) was downgraded to Neutral from buy at UBS and to Market Perform from Outperform at Friedman Billings. Friedman Billings downgraded TD Ameritrade citing slowing client activity as well as margin compression.

OTHER DOWNGRADES:

JP Morgan cut Portugal Telecom (NYSE: PT) to Underweight from Neutral.
Goldman downgraded Marathon Oil (NYSE: MRO) and Holly Corp (NYSE: HOC) to Neutral from Buy and removed Frontier Oil (NYSE: FTO) from its Conviction Buy List.

Newspaper wrap-up 7-10-07: BHP talking with private equity about possible Alcoa bid

Posted Jul 10th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Citigroup Inc. (C), Alcoa Inc (AA), NYSE Euronext (NYX), Barclays plc ADS (BCS), BHP Billiton Ltd ADR (BHP)

MAJOR PAPERS:

According to the Wall Street Journal (subscription required), NYSE Euronext Inc (NYSE: NYX) is investigating the trading of ABN Amro Holdings NV (NYSE: ABN) shares in March when it announced it may sell itself to Barclays plc (NYSE: BCS).
Barron's (subscription required) "Inside Scoop" column reported that hedge fund ValueAct Capital Partners has boosted its stake in Advanced Medical Optics Inc (NYSE: EYE) to 12.6%, up from 9.9% disclosed at the beginning of June.
The Financial Times reported that Citigroup Inc (NYSE: C) is not going to reduce its financing of buyouts in the near future, said Citigroup CEO Chuck Prince.
Spanish telecom company Telefonica SA (NYSE: TEF) has made a EUR3B-plus offer to Portugal Telecom (NYSE: PT) for exclusive control of Vivo Participacoes (NYSE: VIV), reported the Financial Times.

OTHER PAPERS:

Australian mining company BHP Billiton Limited (NYSE: BHP) has opened talks with private equity firms about a possible $40B takeover of aluminum company Alcoa Inc (NYSE: AA), reported the UK Times.