Focus is on oil: Watchlist, Economic Calender, Upgrades Downgrades, Gap Stocks, Day Trading

posted by:  elvis                     date:  2/24/2011

Watchlist:  A ADSK AMT CHK COP DE DLTR DOW FDX GM JCI PBR RCL RIO SWKS SWN TJX UPS WTW XOM ANR CTXS

Highlights
February 24, 2011
Given economic damage from high oil prices, current economic data are diminishing in importance. Focus is on oil.

Oil moved $5 higher, touching $100 before ending just under $99 as civil war unfolds in Libya and unrest deepens in Yemen and Bahrain. Spikes in oil prices are closely associated with economic recession, a factor that is clouding the economic outlook and diminishing the importance of current economic data. The Dow fell nearly one percent to 12,105 bringing its two day losses to nearly 2-1/2 percent.

Demand for the safety of Treasuries eased following weak results at the monthly 5-year auction where the yield rose three basis points on the day to 2.16 percent. The dollar is not being sought as a safe haven during the crisis, falling another half percent to bring its two day losses to 1.2 percent. In contrast, gold is being sought out, hitting $1,415 before easing back to $1,410 for a $10 gain on the day.
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Notable earnings after Thursday's close: ADSK, AGO, AIG,AMAT, BEXP, CRM, CROX, CYH, DECK, FSLR GG, GPS, HGSI, LBTYA,MENT, SBAC, SD, SWN

Notable earnings before Thursday's open: CMS, CSE, DISH,EMS, EP, ESV, FTO, FWLT, GM, GTI, IMAX, IRM, JOE, KBR, KSS, LXP,MYL, NEM, NIHD, OCR, PCS, PXP, SDRL, SRE, SWY, TGT

Weekly Bill Settlement
Jobless Claims
[Report][Star]8:30 AM ET
New Home Sales
[Report][Star]10:00 AM ET
Money Supply
[Bullet4:30 PM ET

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Top Analyst Upgrades & Downgrades (CELG, CHK, CIEN, FLEX, GES, LULU, NVDA, RL, RHT, SKS, CRM, STRA, TLAB, ZLC)
Celgene Corporation (NASDAQ: CELG) Cut to Sector Perform at RBC.
Chesapeake Energy Corporation (NYSE: CHK) Raised to Buy at Canaccord Genuity.
Ciena Corporation (NASDAQ: CIEN) Started as Outperform at Wells Fargo.
Flextronics International Ltd. (NASDAQ: FLEX) Raised to Buy at Collins Stewart.
Guess? Inc. (NYSE: GES) Removed from Focus List at Credit Suisse.
Lululemon Athletica (NASDAQ: LULU) Cut to Underperform at BofA/ML.
NVIDIA Corporation (NASDAQ: NVDA) Raised to Outperform as Bull of the Day at Zacks.
Polo Ralph Lauren Corp. (NYSE: RL) Removed from Focus List at Credit Suisse.
Red Hat, Inc. (NYSE: RHT) Cut to Underweight at JPMorgan.
Saks Incorporated (NYSE: SKS) Raised to Neutral at BofA/ML.
Salesforce.com (NYSE: CRM) Raised to Buy at S&P Equity Research (late-Wednesday call).
Strayer Education Inc. (NASDAQ: STRA) maintained Underperform as Bear of the Day at Zacks.
Tellabs Inc. (NASDAQ: TLAB) Started as Market Perform at Wells Fargo.
Zale Corporation (NYSE: ZLC) Raised to Neutral at BofA/ML.
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Gainers, losers:
at 8:41 AM

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