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Market highlights for next week: Wal-Mart and Hewlett-Packard reporting

Monday, May 12
Tuesday, May 13
Wednesday, May 14
  • FCC Open Commission Meeting at 9:30am.
  • SEC Open Commission Meeting at 10:00am.
  • Macy's, Inc. (NYSE: M) to report Q1 earnings; conference call at 10:30am.
  • Agilent Technologies, Inc. (NYSE: A) to report Q2 earnings; conference call at 4:30pm.

Continue reading Market highlights for next week: Wal-Mart and Hewlett-Packard reporting

Analyst upgrades, downgrades and initiations

MOST NOTEWORTHY UPGRADES:

MOST NOTEWORTHY DOWNGRADES:
  • Broadpoint downgraded shares of Cache Inc. (NYSE: CACH) to Neutral from Buy and lowered their estimates after the company reduced its Q4 guidance. The broker also removed its $21 target.
  • Piper downgraded shares of Salix Pharmaceuticals (NASDAQ: SLXP) to Sell from Neutral to reflect concerns over the company's IBD franchise and potential Xifaxan patent concerns.

MOST NOTEWORTHY INITIATIONS:
  • Pacific Crest initiated shares of SuccessFactors (NASDAQ: SFSF) with an Outperform rating and $18 target, and believes the company has better visibility than its On-Demand peers with 2.5 year deals.

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Last updated: December 01, 2008: 07:33 PM

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