LDK Solar-LDK target to $55 from $50 followng strong Q2@THNK
ThinkPanmure said LDK offers signficant upside while upcoming polysilicon production will lower the company’s cost structure. Shares are Buy rated.
Excel Maritime-EXM: Valuation attractive, reiterate Buy@JEFF
After Excel reported higher than expected Q2 EPS, Jefferies believes the company can increase its dividend.
VMware-VMW initiated with a Neutral@GSCO
E&P Sector upgraded to Overweight from Market Weight@BOFA
SBofA upgraded the E&P Sector citing valuation. The firm upgraded CBT, WLL, CRK; KWK, and SGY to Buy from Neutral.
A majority of investors believe another large financial company will fail-FT
Almost 60% of U.S. and European institutional investors believe that another large financial firm will collapse within the next six months, according to a recent survey conducted by Greenwich Associates.
Follow-up: SYNA initiated with an Accumulate, target $57@THNK
ThinkPanmure believes SYNA’s mobile handset opportunity is just beginning, which will create additional secular growth opportunities.
Medivation-MDVN downgraded to Sector Perform from Outperform@RBCM
RBC Capital downgraded MDVN citing valuation following the Q2 report. Target $24.
Wynn Resorts-WYNN downgraded to Neutral from Overweight@JPMS
JP Morgan downgraded WYNN based on valuation.
Goldman Sachs-GS downgraded to Hold from Buy@DBAB
Deutsche Bank downgraded GS citing the company’s high exposure to equities and capital market pressures, especially if there is weaker European growth. Target to $192 from $209.
Medivation-MDVN: Continue to expect NDA filing with FDA for Dimebon in 2010@LEER
While financial results for the 2Q were more or less uneventful, LEER believes clinical programs which highlight upcoming milestones are going to be important catalysts for the company’s incremental stock price appreciation. LEER places a 12-month value for the stock in the $40 range. Maintain Outperform.
Amazon.com-AMZN: Strong dollar will hurt company@AMTR
Am Tech believes that the stronger U.S. dollar will lower the company’s revenue and margins. The firm notes that Amazon’s ROIC and free cash flow growth are slowing substantially, and they reiterated their Sell rating on the shares.
Agrium-AGU target to $145 from $140 on new Egyption agreement@RBCM
RBC Capital rates AGU Outperform.
Iran says it has unmanned sub that evades radar detection-Alalam
The Iran Defense Minister Mohammad Najjar says that Iran has built an unmanned submarine and a boat that can evade radar detection.
Fast Money position recap- First Moves: Jeff likes WMT, Guy likes SLB, Karen MSFT, Pete likes MRVL long.
Macke Owns (COST), (MSFT), (WMT), ( TM) (UUP); Adami Owns (C), (AGU), (GS), (BTU), (INTC), (MSFT), (NUE); Pete Najarian Owns (AAPL), (COST), (HD), (TSO); Pete Najarian Owns (CSCO) Calls, (INTC) Calls, (MRVL) Calls; Pete Najarian Owns (HCBK) Puts; Finerman Owns (GS); Finerman’s Firm And Finerman Own (FLS), (PDE); Finerman’s Firm Owns (JCP), (MSFT), (SUN), (TSO), (VLO), (RIG), (NOK); Finerman’s Firm And Finerman Own (C) Leap; Finerman’s Firm Is Short (XLF), (BBT), (COF), (IYR), (IJR), (MDY), (IWM), (SPY); Finerman’s Firm And Finerman Own (ANF), Finerman’s Firm Owns (ANF) Call Spreads; Finerman’s Firm Is Short British Pound; Finerman’s Firm Is Short (RTH).
Its all about the dollar (UUP). Oil has support here between $110-113, if it breaks this level there are some technical analysts that believe it could drop to $80. The question becaomes if oil does drop that hard is it because of a sharper slowdown in the global economy or is it due to dollar strength? Will the strong correlation between the dollar and oil prices be broken anytime soon? GS was downgraded twice this morning I will be watching how it responds. Refiners long, shippers short, airliners long (oil price inverse related), Ag’s (MOO, IPI, MOS, POT, CF, AGU) short, commodities (energy, oil, shales, NG, gold, drillers) short, healthcare long, solars are a short IMO and is a target of shorters, food producers and restaurants long if the grain prices drop further (CMG, BWLD, TSN, PPC), educational services long (ESI, APOL), biotech long (CELG, UTHR, ILMN).
Optiondragon Leading Indicator Basket : LIB = UUP + USO (price inverse related) + XLF + IWM + (AAPL+GOOG+RIMM). This indicator will give you clues to future market direction. I am considering adding the XLY (consumer discretionary) to the list, let’s see how the market moves and which data metrics and news the market chooses to follow.
