Watchlist, Economic Calender, Upgrades Downgrades, Gap Stocks, Day Trading

posted by:  elvis                     date:  4/28/2011

April 28, 2011
Another setback for initial jobless claims could upstage first-quarter GDP


Watchlist:  ALTR VRTX X NBR SLV CAM SLW ESV POT FCX HAL RRC CDE TCK NEM PAAS ARUN RIMM LVS CPX NE
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Notable earnings after Thursday close: AEMAMKRARBA,BEXPCAVMCBLCLFCROXCSTRDECKDOXEMNEXPEGSICHLIT,IMKEGKLACLEGMMIMSFTMTWMWWNCRPMCSRGCRMD,RSGSBACSWKSSWNTSOVRSNVSEAWFRNotable earnings before Thursday open: ABCAETAHLAPA,AVTBCBGBLLBMSBMYBWACAHCAMCCECELG CLCLICMS,CNXCRUSDDISCADLRDOWEQTHGSIHOTHPHSTIPIPG,IRMKBRLINEMFAMHSMJNMSINBLNHDOCROMXORIOSK,OXYPEPPGPHMPOTPTENRCLRTNSSAPSNHSWYTWC,TYCVIA.BWMXELXOMZMH
Weekly Bill SettlementGDP

[Report][Star]8:30 AM ET
Jobless Claims
[Report][Star]
8:30 AM ET
Elizabeth Duke Speaks8:30 AM ET
Chicago Fed National Activity Index
[Bullet8:30 AM ET
Dennis Lockhart Speaks12:40 PM ET
7-Yr Note Auction
[Bullet1:00 PM ET
Money Supply
[Bullet
4:30 PM ET
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Up/Downgrades (ABB, ABX, FBC, NSC, PTEN, RIG, GES, HES, ERIC, NOV, SCG, PLCE, COP, LYV, MDP, PX, SRCL, TER, TRAD, VLY, WPI)

Upgrades
ABB Ltd (NYSE:ABB), the global provider of power and automation technologies, was upgraded to Outperform at Credit Suisse.
Barrick Gold (NYSE:ABX) was upgraded to a Buy from Hold at Stifel Nicolaus. The firm set its target price at $70 saying it believes the Equinox acquisition is now priced-in, after a 9%/ $5 billion market capitalization decline.
Flagstar Bancorp (NYSE:FBC) was upgraded to Outperform from Marlet Perform at FBR Capital. The firm set its target price at $2, following a reassessment of the company's burn-down book value. Given that the company is a step closer to profitability this quarter, the firm believes that the current valuation offers a buying opportunity for the appropriate investor.
Norfolk Southern (NYSE:NSC), the railroad operating primarily in the Southeast, East, and Midwest of the United States, was upgraded to a Buy from Neutral at Sterne Agee. The firm set its target price at $76.
Patterson-UTI  (NASDAQ:PTEN), the provider of onshore contract drilling and pressure pumping services to oil and natural gas industry, was upgraded to a Neutral from Sell at Goldman Sachs.
Transocean (NYSE:RIG), the deepwater driller, was upgraded to Strong Buy from Reduce at Duncan-Williams. The firm set its target price at $93, as it noted that with the stock trading slightly above book value of $67, trading at over a 16% discount to the group on a P/E basis for 2011, over a 9% discount to the group on a P/E basis for 2012, and anticipated increasing earnings going forward, it believes the current stock price should be an excellent entry point for investors and believes it has a tremendous upside at present levels.
Guess? (NYSE:GES), the denim and cotton casual clothing maker and retailer, was upgraded to a Buy from Hold at Citigroup.
Hess (NYSE:HES), the global integrated energy company based in New York, NY, was upgraded to Outperform from Neutral at Credit Suisse.
LM Ericsson (NASDAQ:ERIC) was upgraded to a Neutral from Underweight at JP Morgan.
National Oilwell Varco (NYSE:NOV), the maker of equipment used in oil and natural gas drilling operations, was upgraded to a Buy from Hold at Citigroup.
SCANA Corp. (NYSE:SCG), the natural gas and electric utility, was upgraded to a Buy from Hold at The Benchmark Company. The firm set its target price at $44 based on an increasingly attractive risk-return proposition. The firm believes the stock has overreacted to nuclear-related concerns, and upcoming milestones in the approval process should reduce investor uncertainty.

Downgrades
Children's Place (NASDAQ:PLCE), the value-priced children's apparel retailer, was downgraded to a Neutral from Overweight at JP Morgan.
ConocoPhillips (NYSE:COP), the third largest U.S. energy producer, was downgraded to a Hold from Buy at Deutsche Bank. The firm trimmed its target price to $85 from $90.
Live Nation (NYSE:LYV) was upgraded to a Buy from Hold at Stifel Nicolaus. The firm set its target price at $13 ahead of the company's results due May 5th after market. The firm says as the company enters the all-critical summer season, it is either able to right the challenges in its core North American amphitheater business or not. It believes that at this stage, while all of the industry's structural issues have not been waved away, that the company is seeing progress on this front and that its above consensus EBITDA estimate for this year is very achievable.
Meredith (NYSE:MDP) was downgraded to a Hold from Buy at The Benchmark Company. The firm lowered its target price to $37 from $41 following earnings and as soft National Media trends may persist in the near-term, hindering share appreciation.
Praxair (NYSE:PX), the provider of atmospheric and process gases, was downgraded to a Neutral from Overweight at Piper Jaffray.
Stericycle (NASDAQ:SRCL) was downgraded to a Neutral from Outperform at Robert W. Baird. The firm raised its target price to $95 from $88, noting recent results have been strong and in their opinion, the business model remains very positive; however, valuation has reached a level where the firm believes upside no longer warrants an Outperform rating.
Teradyne (NYSE:TER), the semiconductor test equipment maker, was downgraded to a Neutral from Overweight at Piper Jaffray. The firm lowered its target price to $18 from $24.
TradeStation (NASDAQ:TRAD) was downgraded to a Neutral from Outperform at Macquarie.
Urban Outfitters (NASDAQ:URBN), the owner and operator of Urban Outfitters and Anthropologie retail chains, was downgraded to Market Perform from Outperform at William Blair.
Valley National (NYSE:VLY) was upgraded to a Neutral from Underweight at JP Morgan.
Watson Pharmaceuticals (NYSE:WPI), the generic and brand name pharmaceutical company, was downgraded to Market Perform from Outperform at Wells Fargo.

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