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Closing Bell: Unemployment must not be relevant (GE, ACOM, FNM, ZIOP, MOT, NVDA)

Posted Nov 6th 2009 4:00PM by Jon Ogg (RSS feed)
Filed under: General Electric (GE), Motorola (MOT), Federal Natl Mtge (FNM)

Today was a surprise considering the news. There was not great economic news to hang on, particularly considering that the 10.2% unemployment was the worst reading since 1983. As the market did not crater and as it went positive throughout the day, it almost felt as though the 10.2% of the officially unemployed don't matter to the economy as everyone keeps noting the 'lagging indicator' effect. Still, stocks held their own for most of the day and where the real direction for the end of the day bells felt uncertain until the end of the day.

Here are today's unofficial closing bell levels:

Dow 10,023.19 +17.23 (0.17%)
S&P 500 1,069.30 +2.67 (0.25%)
Nasdaq 2,112.44 +7.12 (0.34%)

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Continue reading Closing Bell: Unemployment must not be relevant (GE, ACOM, FNM, ZIOP, MOT, NVDA)

Analyst initiations: VMW, VR and HOLX

Posted Sep 24th 2007 10:55AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst initiations

MOST NOTEWORTHY: VMWare, Validus Holdings and Hologic were today's noteworthy initiations:
  • VMWare Inc (NYSE: VMW) was initiated by a host of firms: Banc of America believes the current valuation captures most of the upside potential, and started shares with a Neutral rating and $75 target. Wachovia started shares with a Market Perform rating and Deutsche Bank started shares with a Hold rating and $80 target on valuation. The stock was also started with a Buy rating and $92 target at UBS, with a Buy rating and $100 target at Citigroup and with an Overweight rating at JP Morgan and with a Neutral rating at Merrill Lynch.
  • Validus Holdings (NYSE: VR) was started with a Buy rating and $29 target at UBS on valuation and benefits from the Talbots (NYSE: TLB) acquisition. Shares were also initiated at JP Morgan with a Neutral rating.
  • CIBC resumed coverage of Hologic Inc (NASDAQ: HOLX) with a Sector Outperformer rating and $77 target as the firm is positive on Hologic's merger with Cytyc Corporation (NASDAQ: CYTC) and views it as one of the top mid-cap stories in the coming year.
OTHER INITIATIONS:
  • B. Riley initiated shares of EuroBancshares (NASDAQ: EUBK) with a Buy rating and $10 target.
  • Rodman resumed coverage of Ziopharm Oncology Inc (NASDAQ: ZIOP) with a Market Outperform rating and $8 target.
  • Citigroup started shares of Timken Company (NYSE: TKR) with a Buy rating and $43 target.
  • MercadoLibre Inc (NASDAQ: MELI) was initiated with a Sector Perform rating and $39 target at RBC Capital.

Newspaper wrap-up 7-13-07: GE in the news

Posted Jul 13th 2007 9:10AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, General Electric (GE), Morgan Stanley (MS), Zoltek Co (ZOLT)

MAJOR PAPERS:
  • General Electric Company (NYSE: GE) has hired Morgan Stanley (NYSE: MS) to find a buyer for its WMC Mortgage subprime mortgage unit, signaling its exit from the mortgage business, reported the Wall Street Journal (subscription required).
  • GE's CNBC cable business news channel and the Financial Times Group are in discussions to share resources and shore up their Web business, reported the Wall Street Journal.
  • VeriSign Inc (NASDAQ: VRSN), which oversees dot-com and dot-net domain names registry, has recorded an additional $160M in compensation expenses related to stock option grants made between 1998 and 2006, causing the CFO to resign, reported the Wall Street Journal.
  • The Financial Times (subscription required) reported that Virgin Media Inc (NASDAQ: VMED) has hired financial services company UBS AG (NYSE: UBS) yesterday to pursue strategic buyers.
OTHER PAPERS:

Symbol Lookup
IndexesChangePrice
DJIA+44.2910,291.26
NASDAQ+15.822,166.90
S&P 500+5.501,098.51

Last updated: November 11, 2009: 11:15 PM

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