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posted by: elvis date: 6/3/2011
Watchlist: AMB APOL LVS LTD ANR SCCO VRX CREE RIMM BTU NEM MON ABX TCK LYB SLW DE
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Daniel Tarullo Speaks12:30 PM ET
Eric Rosengren Speaks3:30 PM ET
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Up/Downgrades (KOF, CCH, DRYS, ENP, ENS, FRX, NE, NEWS, ZQK, ALL, MY, DSX, XIDE, FDO, FRO, NEE, SNDA, SSI, THRX)
New Ratings (ATVI, CVE, COP, CVX, XOM, HES, XEC, CSCO, FL, FINL, IRDM, NWY, NKE, RYN, SGNT, SWSH, TTWO, PANL, VFC)
Gainers, losers: http://www.marketwatch.com/search?q=movers%20shakers
June 3, 2011
A non-farm payroll total above the downward revised consensus of 170,000 would help settle the frazzled nerves of the financial markets.
A non-farm payroll total above the downward revised consensus of 170,000 would help settle the frazzled nerves of the financial markets.
Watchlist: AMB APOL LVS LTD ANR SCCO VRX CREE RIMM BTU NEM MON ABX TCK LYB SLW DE
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![[Report]](http://fidweek.econoday.com/images/mam/byreport_butt_new.gif)
Employment Situation
![[Report]](http://fidweek.econoday.com/images/mam/byconsensus_butt.gif)
![[Star]](http://fidweek.econoday.com/images/mam/star.gif)
8:30 AM ET
8:30 AM ETISM Non-Mfg Index
![[djStar]](http://fidweek.econoday.com/images/mam/djstar.gif)
10:00 AM ET
10:00 AM ETDaniel Tarullo Speaks12:30 PM ET
Eric Rosengren Speaks3:30 PM ET
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Up/Downgrades (KOF, CCH, DRYS, ENP, ENS, FRX, NE, NEWS, ZQK, ALL, MY, DSX, XIDE, FDO, FRO, NEE, SNDA, SSI, THRX)
Upgrades
Coca-Cola FEMSA (NYSE:KOF), the bottler based in Mexico with operations in Latin America, was upgraded to a Neutral from Underperform at Credit Suisse.
Coca-Cola Hellenic (NYSE:CCH), the bottler operating in Europe and Nigeria, was upgraded to a Buy from Hold at Citigroup.
DryShips (NASDAQ:DRYS), the owner and operator of dry bulk carriers, was upgraded to a Buy from Neutral at Goldman Sachs.
Encore Energy (NYSE:ENP) was upgraded to Outperform from Neutral at Robert W. Baird. The firm set its target price at $25, noting that since the end of April, Encore units have fallen 14%, twice the rate of decline of the Tortoise MLP Index at -7% thus, firm upgrades the stock on under performance.
Enersys (NYSE:ENS), the largest industrial battery manufacturer in the world, was upgraded to a Buy from Accumulate at Ardour Capital. The firm set its target price at $42, as it remains optimistic in the near-term outlook as the company continues to execute its business strategy.
Forest Laboratories (NYSE:FRX), the maker of branded and generic forms of ethical drug products, was upgraded to Overweight from Neutral at JPMorgan.
Noble Corp (NYSE:NE), the provider of contract drilling services, was upgraded to Outperform from Market Perform at FBR Capital. The firm raised its target price to $55 from $48, as it believes there is an impending spike in jackup day rates. Specifically, they expect co to benefit as jackup effective utilization likely crosses the critical 90% threshold in the next several weeks, driving jackup day rates sharply higher.
Newstar Financial (NASDAQ:NEWS) was upgraded to Outperform from Market Perform at Keefe Bruyette.
Quiksilver (NYSE:ZQK), the maker of branded apparel, footwear, accessories, and related products, was upgraded to Overweight from Neutral at Piper Jaffray.
Downgrades
Allstate (NYSE:ALL), the car and homeowners insurance Company, was downgraded to a Hold from Buy at Citigroup.
China Ming Yang Wind Power (NYSE:MY) was downgraded to a Hold at Maxim Group due to market and operation uncertainties.
Diana Shipping (NYSE:DSX) was downgraded to a Neutral from Buy at Goldman Sachs.
Exide Technologies (NASDAQ:XIDE), the producer and recycler of lead-acid batteries, was downgraded to Accumulate from Buy at Ardour Capital. The firm lowered its target price to $10 from $15, as the firm remains positive, with the company positioned to benefit as the battery market continues to improve with rebounding global markets. However, the current operating environment, a lag with lead pricing pass-thrus, and restructuring charges give firm reason to lower its price target.
Family Dollar (NYSE:FDO), the single price point discount retailer, was downgraded to a Neutral from Outperform at Credit Suisse.
Frontline (NYSE:FRO), the Bermuda based tanker Company, was downgraded to Market Perform from Outperform at Wells Fargo.
NextEra Energy (NYSE:NEE) was downgraded to a Hold from Buy at Soleil.
Shanda Interactive (NASDAQ:SNDA), the Chinese interactive entertainment media company, was downgraded to Underweight from Neutral at HSBC Securities after quarterly results fell short of consensus and firm’s estimates. The firm lowered its target price to $41 from $43 noting the company's platform strategy is not generating desired returns.
Stage Stores (NYSE:SSI) was downgraded to a Hold from Buy at Soleil.
Theravance (NASDAQ:THRX) was downgraded to a Neutral from Outperform at Robert W. Baird. The firm lowered its target price to $23 from $30, noting that the Relovair/COPD mixed update creates new risk/uncertainty in the area where investors need, and until now, would have had very high confidence.
New Ratings (ATVI, CVE, COP, CVX, XOM, HES, XEC, CSCO, FL, FINL, IRDM, NWY, NKE, RYN, SGNT, SWSH, TTWO, PANL, VFC)
Research Firms Initiate:
Activision Blizzard (NASDAQ:ATVI), the video game publisher with titles like Tony Hawk, and Call of Duty, was initiated with a Buy and a target price of $15 at Brean Murray. The firm said Activision is repositioning away from single player, disc-based games and moving to multiplayer online games that should leave it in higher-growth, higher-margin market segments. The company is also eschewing tie-ups with the leading social-network and mobile platforms and focusing on aggregating online audiences around its own core franchises.
Cenovus Energy (NYSE:CVE) and ConocoPhillips (NYSE:COP), the third largest U.S. energy producer, were initiated with Holds at Societe Generale.
Chevron (NYSE:CVX), the second largest U.S. energy producer, Exxon Mobil (NYSE:XOM), the largest U.S. energy producer, and Hess (NYSE:HES), the global integrated energy company based in New York, NY, were initiated with Buys at Societe Generale.
Cimarex Energy (NYSE:XEC) was initiated with Outperform and a target price of $120 at Morgan Keegan. The firm notes with the lions share of CAPEX dedicated to the Permian Basin and liquids-rich Cana shale play, it sees the company boosting higher-margin growth in 2012.
Cisco Systems (NASDAQ:CSCO), the world’s largest networking equipment maker, was initiated with a Hold at Jefferies.
Foot Locker (NYSE:FL), the athletic footwear and apparel retailer, was initiated with a Hold at Jefferies.
Finish Line (NASDAQ:FINL), the brand name athletic and leisure footwear retailer, was initiated with a Buy at Jefferies.
Iridium Communications (NASDAQ:IRDM), the voice and data satellite communications provider, was initiated with a Buy at Merriman.
New York & Co (NYSE:NWY) was initiated with a Buy and a target price of $7 at Janney Capital Markets. The firm notes its buy thesis is based on belief that product is improving and driving the turn to sustainable positive comps. The firm recommends the stock for small-cap value investors seeking exposure to a business and product turnaround.
Nike (NYSE:NKE), the athletic footwear and apparel giant, was initiated with a Buy at Jefferies.
Rayonier (NYSE:RYN), the international forest products company structured as a REIT, was initiated with Outperform at Raymond James.
Sagent Pharmaceutical (NASDAQ:SGNT) was initiated with a Buy at Jefferies.
Swisher Hygiene (NASDAQ:SWSH) was initiated with Outperform and a target price of $7 at Robert W. Baird. The firm notes the company is forming a national platform of lower-cost facility service products and services, bridging the business platforms of industry leaders such as Cintas and Ecolab.
Take-Two Interactive (NASDAQ:TTWO), the publisher and developer of video games like Grand Theft Auto, was initiated with a Hold at Brean Murray, as the firm sees the long-term potential. Investor's confidence is rising, fiscal 2012 guidance appears conservative, and GTA is coming in fiscal 2013.
Universal Display Corp. (NASDAQ:PANL) was initiated with a Buy at Goldman Sachs.
V.F. Corp (NYSE:VFC), the owner of brands like Wrangler, Nautica, and The North Face, was initiated with a Hold at Jefferies.
----------------Gainers, losers: http://www.marketwatch.com/search?q=movers%20shakers
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