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Markets, Ratings, Statistics and Rates - July 17, 12 (2nd update)


Markets, Ratings and Rates - July 17, 12.




Markets, Ratings, Statistics and Rates - July 17, 12 (2nd update)









MARKETS

10:30 A.M

After stocks having rallied strongly in the last hour of trading and closing near their highs yesterday, stocks are once again off to a positive start managing to hold on their gains from the previous session.

In the first half of the trading day main focus will be on the German ZEW index, having posted a surprise huge drop the last time around the picture is expected to worsen even more with the European financial crisis taking increasingly a heavy toll on Europe’s largest economy, making matters worse are the stuttering economies of China and the US two of their main trading partners. Another bigger than expected drop might bring forward additional stimulus action by the ECB.

Moody’s downgrade of Italian banks didn’t come as much of a surprise after last week’s downgrade of Italy and should have very little impact on the markets. Spanish T-Bill auctions scheduled for today should certainly be manageable especially with yields having risen once again sharply in the past few days giving investors an additional incentive.

In the afternoon all eyes will be on Fed chief Bernanke giving his semi annual report on the economy in front of the Senate, traders are once hoping for clues that further stimulus measures aren’t too far with any hints that the Fed has indeed moved closer to jumping into action once more should be resulting into major short covering. Furthermore earnings season is shifting up another gear with Goldman Sachs, Intel, Yahoo, J&J and Cocal Cola all reporting figures today.

Markus Huber - Head of German HNW Trading - ETX Capital - www.etxcapital.com

03:00 P.M
Le ralentissement économique se fait sentir…

Les indices européens clôturent finalement la semaine à l’équilibre grâce à la forte hausse lors de la séance boursière de vendredi sous l’impulsion des marchés américains et notamment des bancaires US dont les résultats meilleurs que prévu contrastent avec les chiffres décevants publiés par Alcoa, AMD ou encore Burberry et Sodexo en Europe. Ces derniers sont affectés par le ralentissement de la croissance mondiale et ce constat risque de se reproduire au cours des prochaines publications. Rien que cette semaine, les marchés prendront connaissance des résultats de Citigroup, Coca-Cola, Intel, Goldman Sachs, American Express, IBM, Bank of America, Morgan Stanley et General Electric ou encore Alstom, Novartis et Accor. Si les bonnes surprises devraient être rares, il se pourrait que l’absence de mauvaises nouvelles offre un peu de répit d’autant plus que les analystes ont déjà sensiblement révisé à la baisse leurs perspectives bénéficiaires pour le deuxième trimestre. Notons également les difficultés financières de PSA contraint de fermer son usine à Aulnay sous-Bois, le nouveau scandale financier du Libor, les pertes de trading de JP Morgan Chase évaluées à près de 7,5 milliards de dollars et la poursuite du repli de l’euro face au dollar.

Sur le plan macroéconomique, la Fed a estimé qu’il n’était pas nécessaire de lancer un nouvel assouplissement monétaire en usant de mesures non conventionnelles pour relancer l’économie américaine. A cet égard, l’intervention de Ben Bernanke devant le Congrès en milieu de semaine tout comme les chiffres des ventes au détail, l’Empire manufacturing et le Philly Fed seront riche d’enseignements. Par ailleurs, l’Eurogroupe se réunit vendredi afin de finaliser les détails sur la recapitalisation des banques espagnoles, le plan d’aide à la Grèce et le fonctionnement du Mécanisme Européen de Stabilité.

by Cholet Dupont - Chronique Boursière.


RATINGS by Thomson Reuters (http://www.analystratings.net)

10:30 A.M
Equity Briefing: Upgrades and Downgrades for July 16th: ACI, AIXG, AMSF, ANR, APC, AWC, BAS, BASFY, BID, BPL
A number of stocks were upgraded and downgraded by equities research analysts today, as reported by Analyst Ratings Network and Equity Briefing:

BMO Capital Markets downgraded shares of Arch Coal, Inc. (NYSE: ACI) from a market perform rating to an underperform rating.
ThinkEquity downgraded shares of Aixtron AG (NASDAQ: AIXG) from a buy rating to a hold rating.
Keefe, Bruyette & Woods initiated coverage on shares of Amerisafe Inc (NASDAQ: AMSF). They issued a market perform rating on the stock.
BMO Capital Markets downgraded shares of Alpha Natural Resources (NYSE: ANR) from an outperform rating to an underperform rating.
Credit Suisse upgraded shares of Anadarko Petroleum (NYSE: APC) from a neutral rating to an outperform rating.
Citigroup downgraded shares of Alumina Limited (NYSE: AWC) from a neutral rating to a sell rating.
Howard Weil upgraded shares of Basic Energy Services (NYSE: BAS) from a market perform rating to an outperform rating.
Nomura upgraded shares of BASF SE (NASDAQ: BASFY) from a neutral rating to a buy rating.
Craig Hallum downgraded shares of Sotheby's (NYSE: BID) from a buy rating to a hold rating.
Wells Fargo & Co. downgraded shares of Buckeye Partners (NYSE: BPL) from an outperform rating to a market perform rating.
Sanford C. Bernstein downgraded shares of Anheuser Busch (NYSE: BUD) from an outperform rating to a market perform rating.
Goldman Sachs upgraded shares of Cheesecake Factory (NASDAQ: CAKE) from a sell rating to a neutral rating.
Howard Weil upgraded shares of Cameron International Corp (NYSE: CAM) from a market perform rating to an outperform rating.
Caris & Co. downgraded shares of Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) from an above average rating to a below average rating.
Bank of America initiated coverage on shares of Cognizant (NASDAQ: CTSH). They issued a neutral rating on the stock.
Lazard Capital initiated coverage on shares of Dana Holding Co. (NYSE: DAN). They issued a neutral rating on the stock.

10:45 A.M
Equity Briefing: Upgrades and Downgrades for July 16th: DF, EAT, ECHO, EEP, EPR, EXPE, GE, GHL, HTLD, KKD
A number of stocks were upgraded and downgraded by equities research analysts today, as reported by Analyst Ratings Network and Equity Briefing:

BMO Capital Markets downgraded shares of Dean Foods Co (NYSE: DF) from an outperform rating to a market perform rating.
Piper Jaffray upgraded shares of Brinker International, Inc. (NYSE: EAT) from an underweight rating to a neutral rating.
Morgan Stanley upgraded shares of Echo Global Logistics Inc (NASDAQ: ECHO) from an equal weight rating to an overweight rating.
Credit Suisse initiated coverage on shares of Enbridge Energy Partners LP (NYSE: EEP). They issued an outperform rating on the stock.
Goldman Sachs initiated coverage on shares of Entertainment Properties Trust (NYSE: EPR). They issued a buy rating on the stock. They noted that the move was a valuation call.
Atlantic Securities initiated coverage on shares of Expedia, Inc. (NASDAQ: EXPE). They issued an overweight rating on the stock.
Morgan Stanley downgraded shares of General Electric (NYSE: GE) from an overweight rating to an equalweight rating.
Susquehanna upgraded shares of Greenhill & Co., Inc. (NYSE: GHL) from a neutral rating to a positive rating. Susquehanna now has a $44.00 price target on the stock, up previously from $33.00.
Stephens downgraded shares of Heartland Express, Inc. (NASDAQ: HTLD) from an overweight rating to an equal weight rating.
Stephens upgraded shares of Krispy Kreme Doughnuts (NYSE: KKD) from an equal weight rating to an overweight rating.
Stephens downgraded shares of Knight Transportation (NYSE: KNX) from an overweight rating to an equal weight rating.
Bank of America downgraded shares of Coca-Cola FEMSA (NYSE: KOF) from a neutral rating to an underperform rating.
Barclays Capital upgraded shares of Liberty Capital (NASDAQ: LMCA) from an equal weight rating to an overweight rating.
JPMorgan Chase upgraded shares of Luminex (NASDAQ: LMNX) from an underweight rating to a neutral rating.
Aegis initiated coverage on shares of Lpath (NASDAQ: LPTN). They issued a buy rating on the stock and set a $6.00 price target.
Goldman Sachs initiated coverage on shares of The Macerich Company (NYSE: MAC). They issued a neutral rating on the stock.

03:00 P.M
Equity Briefing: Upgrades and Downgrades for July 16th: MDM, MJN, MMM, MRO, MTOR, NANO, NVE, NWN, O, OIS
A number of stocks were upgraded and downgraded by equities research analysts today, as reported by Analyst Ratings Network and Equity Briefing:

RBC Capital upgraded shares of Mountain Province Diamonds Inc (NYSE: MDM) from a sector perform rating to an outperform rating.
RBC Capital downgraded shares of Mead Johnson Nutriti (NYSE: MJN) from an outperform rating to a sector perform rating.
Morgan Stanley upgraded shares of 3M Company (NYSE: MMM) from an equalweight rating to an overweight rating. Morgan Stanley now has a $102.00 price target on the stock.
Deutsche Bank upgraded shares of Marathon Oil Co. (NYSE: MRO) from a hold rating to a buy rating. They noted that the move was a valuation call.
Lazard Capital initiated coverage on shares of Meritor (NASDAQ: MTOR). They issued a neutral rating on the stock.
DA Davidson reiterated its buy rating on shares of Nanometrics Inc (NASDAQ: NANO).
Barclays Capital downgraded shares of NV Energy (NYSE: NVE) from an overweight rating to an equalweight rating.
Bank of America downgraded shares of Northwest Natural (NYSE: NWN) from a neutral rating to an underperform rating.
Goldman Sachs initiated coverage on shares of Realty Income Corp (NYSE: O). They issued a sell rating on the stock. They noted that the move was a valuation call.
Howard Weil downgraded shares of Oil States International, Inc. (NYSE: OIS) from a focus stock rating to an outperform rating.
Leerink Swann initiated coverage on shares of Orexigen Therapeutics, Inc. (NASDAQ: OREX). They issued an outperform rating on the stock.
Atlantic Securities initiated coverage on shares of Priceline (NASDAQ: PCLN). They issued an overweight rating on the stock.
Bank of America initiated coverage on shares of Pall Co. (NYSE: PLL). They issued an underperform rating on the stock.
Piper Jaffray downgraded shares of Panera Bread Company (NASDAQ: PNRA) from an overweight rating to an underweight rating. Their analysts now have a $129.00 price target on the stock, down previously from $165.00.
Oppenheimer initiated coverage on shares of Phillips 66 (NYSE: PSX). They issued an outperform rating on the stock and set a $42.00 price target.
Societe Generale upgraded shares of QUALCOMM, Inc. (NASDAQ: QCOM) from a sell rating to a hold rating.

03:30 P.M
Equity Briefing: Upgrades and Downgrades for July 16th: SEM, SFD, SIRI, SKT, SNDK, SNH, SONC, SPG, SWFT, SYT
A number of stocks were upgraded and downgraded by equities research analysts today, as reported by Analyst Ratings Network and Equity Briefing:

Bank of America downgraded shares of Select Medical Holdings Co. (NYSE: SEM) from a buy rating to a neutral rating.
CLSA downgraded shares of Smithfield Foods, Inc. (NYSE: SFD) from a buy rating to an underperform rating.
Barclays Capital upgraded shares of Sirius XM Radio Inc. (NASDAQ: SIRI) from an underweight rating to an equalweight rating.
Goldman Sachs initiated coverage on shares of Tanger Factory Outlet Centers Inc. (NYSE: SKT). They issued a neutral rating on the stock.
Robert W. Baird downgraded shares of SanDisk Co. (NASDAQ: SNDK) from an outperform rating to a neutral rating. Their analysts now have a $32.00 price target on the stock, down previously from $48.00.
Stifel Nicolaus upgraded shares of Senior Housing (NYSE: SNH) from a hold rating to a buy rating. Stifel Nicolaus now has a $25.00 price target on the stock.
Piper Jaffray downgraded shares of Sonic Co. (NASDAQ: SONC) from an overweight rating to a neutral rating.
Goldman Sachs initiated coverage on shares of Simon Properties (NYSE: SPG). They issued a buy rating on the stock.
Stephens downgraded shares of Swift Transportation (NASDAQ: SWFT) from an overweight rating to an equal weight rating.
Citigroup upgraded shares of Syngenta AG (NYSE: SYT) from a neutral rating to a buy rating. Citigroup now has a $78.52 price target on the stock.
Nomura downgraded shares of Syngenta AG (NYSE: SYT) from a buy rating to a neutral rating.
Goldman Sachs initiated coverage on shares of Taubman Centers Incorporated (NYSE: TCO). They issued a neutral rating on the stock.
Barclays Capital downgraded shares of TECO Energy, Inc. (NYSE: TE) from an equalweight rating to an underweight rating.
Goldman Sachs downgraded shares of Tim Hortons Inc. (NYSE: THI) from a neutral rating to a sell rating.
CLSA downgraded shares of Tyson Foods, Inc. (NYSE: TSN) from a buy rating to an underperform rating.
FBR Capital downgraded shares of Texas Instruments (NYSE: TXN) from a market perform rating to an underperform rating. Their analysts now have a $24.50 price target on the stock, down previously from $30.00.


STATISTICS

10:30 A.M

Hausse de la production dans l’industrie suisse

Selon les résultats provisoires de l'Office fédéral de la statistique (OFS), la production dans l'industrie a augmenté de 1,4% au 1er trimestre 2012 par rapport au même trimestre de l'année précédente. Les chiffres d'affaires ont diminué de 0,7%. Les entrées de commandes ont baissé de 3,9% tandis que le portefeuille de commandes s'est bonifié de 4,7%.

Production
Par rapport à l’année précédente la production a progressé en janvier de 2,9%, est restée stable en février puis a repris en mars (+3,2%). Pour l’ensemble du 1er trimestre 2012, la production a augmenté de 1,4% par rapport au même trimestre de l'année précédente. La branche « Fabrication d’équipements électriques » a obtenu le meilleur résultat dans le trimestre sous revue avec une progression trimestrielle de 10,2%, la branche « Industries extractives » a subi le plus fort recul (-17,8%).

Chiffres d’affaires
Les chiffres d'affaires de janvier ont diminué de 0,1% par rapport à l’année précédente de même pour février (-1,3%), ils ont par contre progressé de 1,4% en mars. Pour l’ensemble du 1er trimestre 2012, les chiffres d’affaires ont reculé de 0,7% par rapport au même trimestre de l'année précédente. La branche « Fabrication de produits électroniques; horlogerie » a obtenu le meilleur résultat de ce trimestre avec une progression de 9,3%, la branche « Industries extractives » a subi le plus fort recul (-18,4%). Les chiffres d’affaires domestiques du 1er trimestre 2012 ont légèrement augmenté (+0,7%), ceux de l’étranger ont diminué de 2%.

www.bfs.admin.ch
Office fédéral de la statistique - Espace de l'Europe 10 - 2010 Neuchâtel ⁄ Suisse


RATES

Tableau de bord financier - Financial Dashboard

Cotations, indices et taux. Mise à jour quotidienne par Finyear.
Quotations, indices and rates. Updated daily by Finyear.

Link : http://www.finyear.com/Tableau-de-bord-financier-Financial-Dashboard_a15066.html

Mardi 17 Juillet 2012
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