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posted by: elvis date: 6/28/2011
June 28, 2011
The consumer confidence report will offer the consumer's assessment of this month's jobs market.
Watchlist: ACN HOC RVBD APKT RAX XOM PAY BHI CTXS TWC AEM POT TIF MOS ANF SOHU SNDK CTXS NTAP LVS
(All stocks on my watchlist are on the penson easy to borrow list, day trading stocks you can go both long and short)
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Notable earnings after Tuesday's close: SHAW
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Up/Downgrades (AXE, EGP, NYX, RDC, STX, TJX, YGE, ABH, DEO, JASO, MMI, SOL, SVVS)
New Ratings (AYI, ADP, CREE, ELON, ELT, ENOC, ESE, GPN, GDOT, HSFT, HOC, ITRI, LNKD, MA, NRG, TSO, TSS, VLO, V, WNR, WU)
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Gainers, losers: http://www.marketwatch.com/search?q=movers%20shakers
June 28, 2011
The consumer confidence report will offer the consumer's assessment of this month's jobs market.
Watchlist: ACN HOC RVBD APKT RAX XOM PAY BHI CTXS TWC AEM POT TIF MOS ANF SOHU SNDK CTXS NTAP LVS
(All stocks on my watchlist are on the penson easy to borrow list, day trading stocks you can go both long and short)
----------------
Notable earnings after Tuesday's close: SHAW
ICSC-Goldman Store Sales
7:45 AM ET
7:45 AM ETRedbook
8:55 AM ET
8:55 AM ETS&P Case-Shiller HPI
![[djStar]](http://mam.econoday.com/images/mam/djstar.gif)
9:00 AM ET
9:00 AM ETConsumer Confidence
![[Report]](http://mam.econoday.com/images/mam/byconsensus_butt.gif)
10:00 AM ET
10:00 AM ETRichmond Fed Manufacturing Index
10:00 AM ET
10:00 AM ETState Street Investor Confidence Index
10:00 AM ET
10:00 AM ET4-Week Bill Auction
11:30 AM ET
11:30 AM ET52-Week Bill Auction
11:30 AM ET
11:30 AM ET5-Yr Note Auction
1:00 PM ET
1:00 PM ET----------------
Up/Downgrades (AXE, EGP, NYX, RDC, STX, TJX, YGE, ABH, DEO, JASO, MMI, SOL, SVVS)
Upgrades
Anixter (NYSE:AXE), the distributor of communications and specialty wire and cable products around the world, was upgraded to Outperform from Neutral at Robert W. Baird. The firm set its target price at $88, as it notes valuation has become attractive, particularly relative to their expectation of solid results through 2011 based on preliminary data from the firm's 2Q11 Industrial Distribution survey.
EastGroup Properties, Inc. (NYSE:EGP) was upgraded to Outperform from Underperform at FBR Capital. The firm set its target price at $47, as it notes recent underperformance and a deep dive into job growth and fundamental expectations within company's markets. The firm also notes that while there have been recent negative global macroeconomic headlines, it believes its job estimates were already accounting for slow growth. As such, despite a slow U.S. industrial recovery stretching over 2012-14, it believes that shares now present an attractive entry point.
NYSE Euronext (NYSE:NYX), the global operator of equity market exchanges, was upgraded to Outperform from Market Perform at Keefe Bruyette.
Rowan Companies (NYSE:RDC), the provider of contract drilling services, was upgraded to a Strong Buy from Buy at Duncan-Williams. The firm raised its target price to $50.25 from $46.50, noting the company released a fleet status after the close yesterday with numerous changes. Include in the fleet status were three new contracts with Aramco, contract extensions, and inclusion of the two new drillships scheduled for delivery in 2013 and 2014.
Seagate Technology (NASDAQ:STX), the maker of hard drives and storage solutions, was upgraded to Outperform from Sector Perform at FBN Securities.
TJX Companies (NYSE:TJX), the owner and operator of T.J. Maxx and Marshalls chains, was upgraded to a Buy at Goldman Sachs.
Yingli Green Energy (NYSE:YGE), the China based photovoltaic modules maker, was upgraded to a Buy from Hold at Brean Murray. The firm set its target price at $10, as it believes that margin erosion, based on pricing pressure, has been fully baked into the share price, given the material pullback during the first quarter earnings period. It expects the space to be primed for a near-term reversal on deceleration of ASP pressure and improved demand expectations in the second half of the year.
Downgrades:
AbitibiBowater (NYSE:ABH) was downgraded to a Hold from Buy at TD Newcrest.
Diageo plc (NYSE:DEO) was downgraded to a Hold from Buy at Citigroup.
JA Solar (NASDAQ:JASO), the China based solar cells manufacturer, was downgraded to a Sell from Hold at Brean Murray. The firm set its target price at $4 based on material pricing pressure in conjunction with higher raw material costs associated with inventory write-downs from first quarter and limited benefit from lower costs across the value chain, particularly around polysilicon as it remains committed to long-term contracts to its major supplier.
Motorola Mobility (NYSE:MMI) was downgraded to Underperform from Market Perform at BMO Capital.
ReneSola (NYSE:SOL) was downgraded to a Hold from Buy at Brean Murray. The firm downgrades the stock in order to reflect expectations for second half of the year margin erosion, driven by material wafer weakness, and limited prospects for second-half rebound on lower raw material supply chain cost benefits. It also discounts the possibility of the company achieving optimal poly cost structure, given its limited scale that is ramping from 3,500MT currently to 8,500MT by 2012.
SAVVIS, Inc. (NASDAQ:SVVS) was downgraded to a Hold from Buy at The Benchmark Company. The firm lowered its target price to $40 from $45, due to the pending sale of the company to CenturyLink.
New Ratings (AYI, ADP, CREE, ELON, ELT, ENOC, ESE, GPN, GDOT, HSFT, HOC, ITRI, LNKD, MA, NRG, TSO, TSS, VLO, V, WNR, WU)
Research Firms Initiate:
Acuity Brands (NYSE:AYI), the provider of technologically advanced, sustainable lighting products and lighting-related solutions, was initiated with a Hold at KeyBanc Capital Markets. The firm believes the company will leverage its robust sales channel to sell higher value lighting systems, ultimately accelerating the co's organic growth rate and driving margin expansion, however it highlights that investors already discount this positive view.
Automatic Data Processing (NYSE:ADP), the payroll company, was initiated with a Hold at Jefferies.
Cree (NASDAQ:CREE), the maker of lighting-class LEDs, LED lighting, and semiconductor solutions for wireless and power applications, was initiated with a Buy and a target price of $41 at KeyBanc Capital Markets. The firm recommends investors accumulate shares as it believes investor sentiment is near a 10-year low, fundamentals are close to bottoming, and robust valuation support is near.
Echelon (NASDAQ:ELON) was initiated with a Hold at KeyBanc Capital Markets. The firm notes after a disappointing decade, the company is under new management, and appears very well positioned for the electricity meter upgrade cycle in Europe and the BRIC countries.
Elster (NYSE:ELT) was initiated with a Buy and a target price of $19 at KeyBanc Capital Markets. The firm notes the company is a safe way for investors to gain exposure to two longer-term growth trends including the increased gasification of the world's energy supply and the broad adoption of intelligent utility networks.
EnerNOC, Inc. (NASDAQ:ENOC) was initiated with a Buy and a target price of $19 at KeyBanc Capital Markets. The firm believes that downward EPS revisions over the past year and regulatory uncertainty regarding the company's largest market have created a buying opportunity.
Esco Tech (NYSE:ESE) was initiated with a Buy and a target price of $45 at KeyBanc Capital Markets. The firm noted the company's robust earnings trajectory, top-tier management team and attractive valuation. While near-term estimates may be choppy, the firm believes this is already discounted in the company's valuation multiple.
Global Payments (NYSE:GPN), the provider of credit card, check, and eCommerce transactions processing, was initiated with a Hold at Jefferies.
Green Dot Corp. (NYSE:GDOT) was initiated with a Hold at Jefferies.
HiSoft Technology (NASDAQ:HSFT) was initiated with a Buy and a target price of $18 at Jefferies.
Holly (NYSE:HOC), the independent petroleum refiner, was initiated with a Buy at UBS.
Itron (NASDAQ:ITRI), the provider of solutions for collecting, communicating, and analyzing electric, gas, and water usage data, was initiated with a Buy and a target price of $58 at KeyBanc Capital Markets. The firm believes the company is well positioned to benefit from the multi-decade upgrade cycle for electric, gas and water meters.
LinkedIn (NYSE:LNKD), the social networking site for professionals, was initiated with Overweight and target price of $85 at JPMorgan. LinkedIn was also initiated with a Buy and a target price of $90 at UBS.
MasterCard (NYSE:MA), the global payment solutions company, was initiated with a Buy at Jefferies.
NRG Energy (NYSE:NRG), the owner and operator of power-generating facilities, was upgraded to a Buy at Jefferies.
Tesoro (NYSE:TSO), the crude oil refiner based in San Antonio, TX, was initiated with a Neutral at UBS.
Total System Services (NYSE:TSS), the electronic payment-processing provider, was initiated with a Buy at Jefferies.
Valero Energy (NYSE:VLO), the independent petroleum refining and marketing company, was initiated with a Buy at UBS.
Visa (NYSE:V), the retail electronic payments network operator, was initiated with a Buy at Jefferies.
Western Refining (NYSE:WNR), the independent oil refiner and marketer headquartered in El Paso, Texas, was initiated with a Neutral at UBS.
Western Union (NYSE:WU), the money transfer services company, was initiated with a Buy ay Jefferies.
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Gainers, losers: http://www.marketwatch.com/search?q=movers%20shakers
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