David Moenning's Daily State of the Markets: 4/7 Apr 7, 2009 09:05AM

Old News?

Coming into yesterday’s session, traders were well aware of the fact that the market was overbought and after a run of +24.5% in 19 days, was probably due for a rest. Thus, it followed that if the bears would have been able find a reason to get something going to the downside, the bulls might have decided to stand aside and take their licks for a day or two.

So when one of Wall Street’s respected banking analysts, who had just departed Deutsche Bank for greener pastures, initiated coverage of the big bank names with the suggestion that loan losses would exceed those seen in the Great Depression, one might have thought the bears would have been ready to rock. Thus, the dive at the open, which took the Dow down a quick 100 points, didn’t take anyone by surprise.

Mr. Mayo, now with Calyon Securities, referred to ...


Notable Analyst Rating Changes 3/5: BIDU, T, ADBE, SIGM Upgraded; CXR, RIO, GPS Downgraded Mar 5, 2009 10:21AM

UPGRADES:
Citigroup upgrades Baidu.com (Nasdaq: BIDU) two notches from Sell to Buy and raised its price target from $110 to $181. Click here for more color on the upgrade.

UBS upgrades AT&T (NYSE: T) from Neutral to Buy, citing low consensus estimates ...


David Moenning's Daily State of the Markets: 2/27 Feb 27, 2009 10:22AM

Just about the time the bulls appeared to be poised to make a break for it to the upside, a batch of very big numbers from a variety of sources apparently caused them to lose their nerve. One might have thought that getting some details on the banking situation would have been a plus for the market this week. However, the bottom line is that it is still tough to look ahead when faced with the type of numbers we got yesterday.

For starters, while everybody knew that General Motors (GM) was going to lose money – a LOT of money – when you see an earnings report like this one, it takes your breath away. We won’t bore you with the gory details, but when a company the size of GM loses $9.65 per share, you know there are some very big numbers, as well as some very big ...


Friedman Billings Downgrades Adobe Systems (ADBE) to Market Perform Oct 6, 2008 10:40AM

Friedman Billings downgrades Adobe Systems (Nasdaq ...


Friedman Billings Initiates Coverage on Adobe (ADBE) with an Outperform Jul 1, 2008 07:33AM

Friedman Billings initiates coverage on Adobe ...




Jan 15, 2008 10:17AM David Moenning’s Daily State of the Markets: 01/15