Barclays
Barclays reiterates an Overweight rating on Deere (NYSE: DE) ...
UPGRADES:
Wachovia upgrades Illinois Tool Works (NYSE: ITW) from Market Perform to Outperform. Valuation range: $45 to $48. Click here for more color on the upgrade.
UBS upgrades Deutsche Bank (NYSE: DB) from Neutral to Buy ...
No Decision
On the day after a blast like Monday’s where the major indices gained +3% or so, everyone is looking for something. The bulls would like to see follow-through buying and an increase in volume to assure them that the move is for real and not just a bounce up to the old highs, while the bears would prefer to see signs that the rally is fading and ready to reverse.
In short, yesterday turned out to be a no decision day for both teams as neither side can really say they got what they were looking for.
To clarify, the follow-through day that the bull camp is seeking is usually defined as an advance of 1% or more on an increase in volume from the day before. This signals to traders that the rally has some support behind it and that it is time to jump on board the ...
Barclays Capital initiated coverage on several stocks involved in the manufacturing of construction ...
I’d Like an ‘S’ Please
Although I fully recognize that yesterday’s warm and fuzzy session was sponsored by the government’s latest acronym, I will have to admit that I am less than enamored with the name. Think about it; when Hank Paulson announced the Troubled Asset Relief Program, the name “TARP” made perfect sense. At that time, the plan was to round up $700 Billion of those nasty mortgage-backed securities and hide them under “the TARP” in order to keep the bad assets away from the good assets on bank and brokerage firm balance sheets. Then once the government tied down the corners and the loose ends – boom, everything was supposed to be fine.
And while I also recognize that the TARP isn’t exactly being used as it was originally intended, you have to give the powers-that-be some credit for coming up with not only what was a decent ...
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David Moenning's Daily State of the Markets: 10/20
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Notable Analyst Rating Changes 10/20: KFT, RIG, BBY, PFE, YGE Upgraded; DE, INTC, MET, POZN Downgraded
