Rex Energy (REXX), Weatherford (WFT), Overseas Shipholding Group Inc. (OSG), Teekay Tankers Ltd. (TNK), Tsakos Energy Navigation (TNP), Oxford Resource Partners (OXF) and Hatteras Financial Corp. (HTS) had ratings and price targets on them adjusted by analysts.
Capital One upgraded Rex Energy (REXX) to a "Neutral" rating.
Guggenheim downgraded Weatherford (WFT) from a "Buy" rating to a "Neutral" rating.
Dahlman Rose upgraded Overseas Shipholding Group Inc. (OSG) from a "Sell" rating to a "Hold" rating.
Dahlman Rose upgraded Teekay Tankers Ltd. (TNK) from a "Hold" rating to a "Buy" rating. They have a price target of $7.00 on the company.
Dahlman Rose upgraded Tsakos Energy Navigation (TNP) from a "Hold" rating to a "Buy" rating. They have a price target of $12.00 on the company.
Raymond James downgraded Oxford Resource Partners (OXF) from an "Outperform" rating to an "Underperform" rating.
Deutsche Bank upgraded Hatteras Financial Corp. (HTS) from a "Hold" rating to a "Buy" rating.
Wednesday, March 28, 2012
Agnico (AEM) (SCCO) (BAC) (UBS) (HWD) (FRC) (FHN) Ratings, Price Targets
Agnico-Eagle Mines Limited (AEM), Southern Copper (SCCO), Bank of America (BAC), UBS AG (UBS), Harry Winston Diamond (HWD), First Republic Bank (FRC) and First Horizon National Co. (FHN) had ratings and price targets on them adjusted by analysts.
Global Hunter Securities initiated coverage on Agnico-Eagle Mines Limited (AEM). They place a "Buy" rating and a price target of $46.00 on the company.
Morgan Stanley upgraded Southern Copper (SCCO) from an "Equal Weight" rating to an "Overweight" rating.
Robert W. Baird downgraded Bank of America (BAC) from an "Outperform" rating to an "Neutral" rating. They have a price target of $10.00 on the company.
ISI Group downgraded UBS AG (UBS) from a "Buy" rating to a "Hold" rating.
BMO Capital Markets downgraded Harry Winston Diamond (HWD) from an "Outperform" rating to an "Market Perform" rating.
BMO Capital Markets initiated coverage on First Republic Bank (FRC). They placed an "Outperform" rating on the company.
Sterne Agee upgraded First Horizon National Co. (FHN) from an "Underperform" rating to a "Neutral" rating.
Global Hunter Securities initiated coverage on Agnico-Eagle Mines Limited (AEM). They place a "Buy" rating and a price target of $46.00 on the company.
Morgan Stanley upgraded Southern Copper (SCCO) from an "Equal Weight" rating to an "Overweight" rating.
Robert W. Baird downgraded Bank of America (BAC) from an "Outperform" rating to an "Neutral" rating. They have a price target of $10.00 on the company.
ISI Group downgraded UBS AG (UBS) from a "Buy" rating to a "Hold" rating.
BMO Capital Markets downgraded Harry Winston Diamond (HWD) from an "Outperform" rating to an "Market Perform" rating.
BMO Capital Markets initiated coverage on First Republic Bank (FRC). They placed an "Outperform" rating on the company.
Sterne Agee upgraded First Horizon National Co. (FHN) from an "Underperform" rating to a "Neutral" rating.
Monday, March 26, 2012
Dendreon (DNDN) (BHI) (HFC) (WY) (EXM) (PKD) Ratings, Price Targets
Dendreon Co. (DNDN), Baker Hughes (BHI), HollyFrontier Corp (HFC), Weyerhaeuser (WY), Excel Maritime Carriers Ltd (EXM) and Parker Drilling Company (PKD) had ratings and price targets on them adjusted by analysts.
Wells Fargo & Co. downgraded Baker Hughes (BHI) from a "Outperform" rating to an "Market Perform" rating.
Raymond James downgraded HollyFrontier Corp (HFC) from a "Outperform" rating to an "Underperform" rating.
Scotia Capital downgraded Weyerhaeuser (WY) from a "Sector Perform" rating to an "Underperform" rating.
Canaccord Genuity initiated coverage on Dendreon Co. (DNDN). They placed a "Hold" rating and a price target of $11.00 on the company.
Imperial Capital initiated coverage on Excel Maritime Carriers Ltd (EXM). They placed an "Underperform" rating and price target of $1.14 on the company.
Sidoti initiated coverage on Parker Drilling Company (PKD). They placed a "Buy" rating on the company.
Wells Fargo & Co. downgraded Baker Hughes (BHI) from a "Outperform" rating to an "Market Perform" rating.
Raymond James downgraded HollyFrontier Corp (HFC) from a "Outperform" rating to an "Underperform" rating.
Scotia Capital downgraded Weyerhaeuser (WY) from a "Sector Perform" rating to an "Underperform" rating.
Canaccord Genuity initiated coverage on Dendreon Co. (DNDN). They placed a "Hold" rating and a price target of $11.00 on the company.
Imperial Capital initiated coverage on Excel Maritime Carriers Ltd (EXM). They placed an "Underperform" rating and price target of $1.14 on the company.
Sidoti initiated coverage on Parker Drilling Company (PKD). They placed a "Buy" rating on the company.
DTE (DTE) (TE) (WEC) (WFT) (WR) (LNT) Ratings, Price Targets
DTE Energy (DTE), TECO Energy, Inc. (TE), Wisconsin Energy (WEC), Weatherford (WFT), Westar Energy, Inc. (WR) and Alliant Energy (LNT) had ratings and price targets on them adjusted by analysts.
Macquarie upgraded DTE Energy (DTE) from a "Neutral" rating to an "Outperform" rating.
Macquarie upgraded TECO Energy, Inc. (TE) from an "Underperform" rating to a "Neutral" rating.
Barclays Capital upgraded Wisconsin Energy (WEC) from an "Equal Weight" rating to a "Overweight" rating.
Simmons upgraded Weatherford (WFT) to an "Overweight" rating.
Barclays Capital upgraded Westar Energy, Inc. (WR) from an "Equal Weight" rating to a "Overweight" rating.
Barclays Capital upgraded Alliant Energy (LNT) from an "Equal Weight" rating to a "Overweight" rating.
Macquarie upgraded DTE Energy (DTE) from a "Neutral" rating to an "Outperform" rating.
Macquarie upgraded TECO Energy, Inc. (TE) from an "Underperform" rating to a "Neutral" rating.
Barclays Capital upgraded Wisconsin Energy (WEC) from an "Equal Weight" rating to a "Overweight" rating.
Simmons upgraded Weatherford (WFT) to an "Overweight" rating.
Barclays Capital upgraded Westar Energy, Inc. (WR) from an "Equal Weight" rating to a "Overweight" rating.
Barclays Capital upgraded Alliant Energy (LNT) from an "Equal Weight" rating to a "Overweight" rating.
Friday, March 23, 2012
Peabody (BTU) (CNX) (CAM) (DRQ) (LINE) (DG) Ratings, Price Targets
Peabody Energy Corp. (BTU), CONSOL Energy Inc. (CNX), Cameron (CAM), Dril-Quip (DRQ), Linn Energy, LLC (LINE) and Dollar General (DG) had ratings and price targets on them adjusted by analysts.
Davenport downgraded Peabody Energy Corp. (BTU) from a "Buy" rating to a "Neutral" rating.
Davenport downgraded CONSOL Energy Inc. (CNX) from a "Buy" rating to a "Neutral" rating.
RBC Capital upgraded Cameron (CAM) from a "Outperform" rating to a "Top Pick" rating.
Tudor Pickering upgraded Dril-Quip (DRQ) to an "Accumulate" rating.
Bank of America initiated coverage on Linn Energy, LLC (LINE). They placed a "Buy" rating on the company.
Nomura upgraded Dollar General (DG) from a "Neutral" rating to a "Buy" rating.
Davenport downgraded Peabody Energy Corp. (BTU) from a "Buy" rating to a "Neutral" rating.
Davenport downgraded CONSOL Energy Inc. (CNX) from a "Buy" rating to a "Neutral" rating.
RBC Capital upgraded Cameron (CAM) from a "Outperform" rating to a "Top Pick" rating.
Tudor Pickering upgraded Dril-Quip (DRQ) to an "Accumulate" rating.
Bank of America initiated coverage on Linn Energy, LLC (LINE). They placed a "Buy" rating on the company.
Nomura upgraded Dollar General (DG) from a "Neutral" rating to a "Buy" rating.
Randgold (GOLD) (ANR) (DB) (DFS) (GS) (COR) Ratings, Price Targets
Randgold Resources Ltd. (GOLD), Alpha Natural Resources (ANR), Deutsche Bank (DB), Discover Financial Services (DFS), Goldman Sachs (GS) and CoreSite Realty Corp (COR) had ratings and price targets on them adjusted by analysts.
Citigroup downgraded Randgold Resources Ltd. (GOLD) from a "Buy" rating to a "Neutral" rating.
Davenport downgraded Alpha Natural Resources (ANR) from a "Buy" rating to a "Neutral" rating.
RBC Capital upgraded Deutsche Bank (DB) from a "Sector Perform" rating to a "Outperform" rating.
Goldman Sachs upgraded Discover Financial Services (DFS) from a "Neutral" rating to a "Buy" rating.
RBC Capital upgraded Goldman Sachs (GS) from a "Underperform" rating to a "Sector Perform" rating.
Citigroup downgraded CoreSite Realty Corp (COR) from a "Buy" rating to a "Neutral" rating.
Citigroup downgraded Randgold Resources Ltd. (GOLD) from a "Buy" rating to a "Neutral" rating.
Davenport downgraded Alpha Natural Resources (ANR) from a "Buy" rating to a "Neutral" rating.
RBC Capital upgraded Deutsche Bank (DB) from a "Sector Perform" rating to a "Outperform" rating.
Goldman Sachs upgraded Discover Financial Services (DFS) from a "Neutral" rating to a "Buy" rating.
RBC Capital upgraded Goldman Sachs (GS) from a "Underperform" rating to a "Sector Perform" rating.
Citigroup downgraded CoreSite Realty Corp (COR) from a "Buy" rating to a "Neutral" rating.
Thursday, March 22, 2012
Sun Life (SLF) (CVBF) (FHN) (FITB) (FRC) (BCH) (SLF) Ratings, Price Targets
Sun Life Financial Inc. (SLF), CVB Financial Corp (CVBF), First Horizon National Co. (FHN), Fifth Third Bancorp (FITB), First Republic Bank (FRC), Banco de Chile (BCH) and Sun Life Financial Inc. (SLF) had ratings and price targets on them adjusted by analysts.
Wunderlich downgraded CVB Financial Corp (CVBF) from a "Buy" rating to a "Hold" rating. $12.00
Morgan Stanley downgraded First Horizon National Co. (FHN) from an "Overweight" rating to an "Equal Weight" rating.
Sterne Agee downgraded Fifth Third Bancorp (FITB) from a "Buy" rating to a "Neutral" rating.
Morgan Stanley upgraded First Republic Bank (FRC) from an "Equal Weight" rating to an "Overweight" rating.
Credit Suisse initiated coverage on Banco de Chile (BCH). They placed an "Outperform" rating on the company.
Credit Suisse initiated coverage on Banco Santander-Chile (SAN). They placed an "Outperform" rating on the company.
Desjardins upgraded Sun Life Financial Inc. (SLF) from a "Hold" rating to a "Buy" rating.
Wunderlich downgraded CVB Financial Corp (CVBF) from a "Buy" rating to a "Hold" rating. $12.00
Morgan Stanley downgraded First Horizon National Co. (FHN) from an "Overweight" rating to an "Equal Weight" rating.
Sterne Agee downgraded Fifth Third Bancorp (FITB) from a "Buy" rating to a "Neutral" rating.
Morgan Stanley upgraded First Republic Bank (FRC) from an "Equal Weight" rating to an "Overweight" rating.
Credit Suisse initiated coverage on Banco de Chile (BCH). They placed an "Outperform" rating on the company.
Credit Suisse initiated coverage on Banco Santander-Chile (SAN). They placed an "Outperform" rating on the company.
Desjardins upgraded Sun Life Financial Inc. (SLF) from a "Hold" rating to a "Buy" rating.
Exxon (XOM) (EMR) (GLF) (HOS) (SUBCY) (XEC) Ratings, Price Targets
Exxon Mobil (XOM), Emerson Electric Co. (EMR), Gulfmark Offshore (GLF), Hornbeck Offshore (HOS), Subsea 7 SA (SUBCY) and Cimarex Energy Co. (XEC) had ratings and price targets on them adjusted by analysts.
JPMorgan Chase & Co. upgraded Exxon Mobil (XOM) from an "Underweight" rating to a "Neutral" rating.
Nomura upgraded Emerson Electric Co. (EMR) from a "Neutral" rating to a "Buy" rating.
Morgan Stanley initiated coverage on Gulfmark Offshore (GLF). They placed an "Equal Weight" rating on the company.
Morgan Stanley initiated coverage on Hornbeck Offshore (HOS). They placed an "Equal Weight" rating on the company.
JPMorgan Chase & Co. upgraded Subsea 7 SA (SUBCY) from a "Neutral" rating to a "Overweight" rating.
Caris & Co. initiated coverage on Cimarex Energy Co. (XEC). They placed an "Average" rating on the company.
JPMorgan Chase & Co. upgraded Exxon Mobil (XOM) from an "Underweight" rating to a "Neutral" rating.
Nomura upgraded Emerson Electric Co. (EMR) from a "Neutral" rating to a "Buy" rating.
Morgan Stanley initiated coverage on Gulfmark Offshore (GLF). They placed an "Equal Weight" rating on the company.
Morgan Stanley initiated coverage on Hornbeck Offshore (HOS). They placed an "Equal Weight" rating on the company.
JPMorgan Chase & Co. upgraded Subsea 7 SA (SUBCY) from a "Neutral" rating to a "Overweight" rating.
Caris & Co. initiated coverage on Cimarex Energy Co. (XEC). They placed an "Average" rating on the company.
Wednesday, March 21, 2012
Gold Could Jump on Inflation, Dollar, India Jewelry Demand
Gold prices may be poised to rebound as several elements are combining to give the yellow metal a probable boost.
Federal Reserve Chairman Ben Bernanke made a statement that rising oil prices could spark inflation, the U.S. dollar has been under pressure, and jewelers in India are ending a 5-day shutdown protesting proposed tax increases from the Indian government; all of which could push gold prices up quickly over the short term.
Another major factor is the ongoing sovereign debt crisis in Europe, which continues to weigh down the Zone. The media has neglected it recently, so it hasn't been part of the conversation, even though it's a significant factor in the movement of gold prices.
Bernanke was extremely bearish on European banks, which points to the fact there will be more quantitative easing coming, which is also very bullish for gold.
So far in 2012 gas prices in the U.S. have soared 18 percent, reaching a ten-month high of $3.864 a gallon Wednesday. Not only is inflation a trigger for gold prices to rise, but in the case of higher gas prices, it takes away from consumer spending, which weakens the economy, which also can push gold prices higher.
Gold for April delivery on New York Mercantile Exchange the Comex division of the New York Mercantile Exchange settled at $1,650.30 an ounce, up $3.30, or 0.2 percent.
Federal Reserve Chairman Ben Bernanke made a statement that rising oil prices could spark inflation, the U.S. dollar has been under pressure, and jewelers in India are ending a 5-day shutdown protesting proposed tax increases from the Indian government; all of which could push gold prices up quickly over the short term.
Another major factor is the ongoing sovereign debt crisis in Europe, which continues to weigh down the Zone. The media has neglected it recently, so it hasn't been part of the conversation, even though it's a significant factor in the movement of gold prices.
Bernanke was extremely bearish on European banks, which points to the fact there will be more quantitative easing coming, which is also very bullish for gold.
So far in 2012 gas prices in the U.S. have soared 18 percent, reaching a ten-month high of $3.864 a gallon Wednesday. Not only is inflation a trigger for gold prices to rise, but in the case of higher gas prices, it takes away from consumer spending, which weakens the economy, which also can push gold prices higher.
Gold for April delivery on New York Mercantile Exchange the Comex division of the New York Mercantile Exchange settled at $1,650.30 an ounce, up $3.30, or 0.2 percent.
Hercules (HERO) (STI) (NI) (OSHC) (NWSA) (NRGY) Ratings, Price Targets
Hercules Offshore, Inc. (HERO), SunTrust (STI), Nisource (NI), Ocean Shore Holding (OSHC), News Corp. (NWSA) and Inergy (NRGY) had ratings and price targets on them adjusted by analysts.
FBR Capital upgraded Hercules Offshore, Inc. (HERO) from a "Underperform" rating to a "Market Perform" rating. They have a price target of $5.75 on the company.
Guggenheim downgraded SunTrust (STI) from a "Buy" rating to a "Neutral" rating.
KeyBanc upgraded Nisource (NI) from a "Hold" rating to a "Buy" rating. They have price target of $26.50 on the company.
Sandler O'Neill downgraded Ocean Shore Holding (OSHC) from a "Buy" rating to a "Hold" rating.
Macquarie upgraded News Corp. (NWSA) from a "Underperform" rating to a "Neutral" rating.
Credit Suisse initiated coverage on Inergy (NRGY). They have an "Outperform" rating on the company.
FBR Capital upgraded Hercules Offshore, Inc. (HERO) from a "Underperform" rating to a "Market Perform" rating. They have a price target of $5.75 on the company.
Guggenheim downgraded SunTrust (STI) from a "Buy" rating to a "Neutral" rating.
KeyBanc upgraded Nisource (NI) from a "Hold" rating to a "Buy" rating. They have price target of $26.50 on the company.
Sandler O'Neill downgraded Ocean Shore Holding (OSHC) from a "Buy" rating to a "Hold" rating.
Macquarie upgraded News Corp. (NWSA) from a "Underperform" rating to a "Neutral" rating.
Credit Suisse initiated coverage on Inergy (NRGY). They have an "Outperform" rating on the company.
Royal Gold (RGLD) (BHI) (BBT) (COF) (RT) (SABA) Ratings, Price Targets
Royal Gold, Inc. (RGLD), Baker Hughes (BHI), BB&T (BBT), Capital One (COF), Ruby Tuesday (RT) and Saba Software (SABA) had ratings and price targets on them adjusted by analysts.
National Bank upgraded Royal Gold, Inc. (RGLD) to an "Outperform" rating.
Global Hunter Securities downgraded Baker Hughes (BHI) from a "Accumulate" rating to a "Neutral $60.00 $40.00" rating.
Guggenheim downgraded BB&T (BBT) from a "Buy" rating to a "Neutral" rating.
Guggenheim upgraded Capital One (COF) from a "Neutral" rating to a "Buy" rating.
Raymond James upgraded Ruby Tuesday (RT) from a "Market Perform" rating to a "Outperform" rating.
Benchmark Co. upgraded Saba Software (SABA) from a "Hold" rating to a "Buy" rating. They have a price target of $16.00 on the company.
National Bank upgraded Royal Gold, Inc. (RGLD) to an "Outperform" rating.
Global Hunter Securities downgraded Baker Hughes (BHI) from a "Accumulate" rating to a "Neutral $60.00 $40.00" rating.
Guggenheim downgraded BB&T (BBT) from a "Buy" rating to a "Neutral" rating.
Guggenheim upgraded Capital One (COF) from a "Neutral" rating to a "Buy" rating.
Raymond James upgraded Ruby Tuesday (RT) from a "Market Perform" rating to a "Outperform" rating.
Benchmark Co. upgraded Saba Software (SABA) from a "Hold" rating to a "Buy" rating. They have a price target of $16.00 on the company.
Tuesday, March 20, 2012
RRI (GEN) (NE) (OGZPY) (DO) (HERO) (NOG) (UPS) Ratings, Price Targets
RRI Energy, Inc. (GEN), Noble (NE), Gazprom OAO (OGZPY), Diamond Offshore Drilling, Inc. (DO), Hercules Offshore, Inc. (HERO), Northern Oil & Gas, Inc. (NOG) and United Parcel Service, Inc. (UPS) had ratings and price targets on them adjusted by analysts.
Deutsche Bank downgraded RRI Energy, Inc. (GEN) from a "Hold" rating to a "Sell" rating.
Macquarie downgraded Noble (NE) from a "Outperform" rating to a "Neutral" rating.
Citigroup downgraded Gazprom OAO (OGZPY) Buy" rating to a "Neutral" rating.
Macquarie upgraded Diamond Offshore Drilling, Inc. (DO) from a "Underperform" rating to a "Neutral" rating.
Macquarie upgraded Hercules Offshore, Inc. (HERO) from a "Underperform" rating to a "Neutral" rating.
SunTrust upgraded Northern Oil & Gas, Inc. (NOG) from a "Neutral" rating to a "Buy" rating.
Stifel Nicolaus downgraded United Parcel Service, Inc. (UPS) from a "Buy" rating to a "Hold" rating.
Deutsche Bank downgraded RRI Energy, Inc. (GEN) from a "Hold" rating to a "Sell" rating.
Macquarie downgraded Noble (NE) from a "Outperform" rating to a "Neutral" rating.
Citigroup downgraded Gazprom OAO (OGZPY) Buy" rating to a "Neutral" rating.
Macquarie upgraded Diamond Offshore Drilling, Inc. (DO) from a "Underperform" rating to a "Neutral" rating.
Macquarie upgraded Hercules Offshore, Inc. (HERO) from a "Underperform" rating to a "Neutral" rating.
SunTrust upgraded Northern Oil & Gas, Inc. (NOG) from a "Neutral" rating to a "Buy" rating.
Stifel Nicolaus downgraded United Parcel Service, Inc. (UPS) from a "Buy" rating to a "Hold" rating.
IAMGOLD (IAG) (KMI) (ZION) (CIG) (HOG) (DOLE) (DPZ) Ratings, Price Targets
IAMGOLD (IAG), Kinder Morgan (KMI), Zions Bancorporation (ZION), Companhia Energetica de MinasGerais (CIG), Harley-Davidson, Inc. (HOG), Dole Food (DOLE) and Domino's Pizza, Inc. (DPZ) had ratings and price targets on them adjusted by analysts.
Macquarie upgraded IAMGOLD (IAG) from a "Neutral" rating to a "Outperform" rating.
Bank of America downgraded Kinder Morgan (KMI) to an "Underperform" rating.
Sanford C. Bernstein downgraded Zions Bancorporation (ZION) from a "Outperform" rating to a "Market Perform" rating.
UBS AG upgraded Companhia Energetica de MinasGerais (CIG) from a "Sell" rating to a "Neutral" rating.
BMO Capital Markets upgraded Harley-Davidson, Inc. (HOG) from a "Market Perform" rating to an "Outperform" rating.
JPMorgan Chase & Co. downgraded Dole Food (DOLE) from an "Overweight" rating to a "Neutral" rating.
Bank of America downgraded Domino's Pizza, Inc. (DPZ) to an "Underperform" rating.
Macquarie upgraded IAMGOLD (IAG) from a "Neutral" rating to a "Outperform" rating.
Bank of America downgraded Kinder Morgan (KMI) to an "Underperform" rating.
Sanford C. Bernstein downgraded Zions Bancorporation (ZION) from a "Outperform" rating to a "Market Perform" rating.
UBS AG upgraded Companhia Energetica de MinasGerais (CIG) from a "Sell" rating to a "Neutral" rating.
BMO Capital Markets upgraded Harley-Davidson, Inc. (HOG) from a "Market Perform" rating to an "Outperform" rating.
JPMorgan Chase & Co. downgraded Dole Food (DOLE) from an "Overweight" rating to a "Neutral" rating.
Bank of America downgraded Domino's Pizza, Inc. (DPZ) to an "Underperform" rating.
Monday, March 19, 2012
Devon (DVN) (RSOL) (SOL) (ESV) (EXM) (SXC) (PETD) (SUBCY) Ratings, Price Targets
Devon Energy Co. (DVN), Real Goods Solar, Inc. (RSOL), ReneSola Ltd. (SOL), ENSCO PLC (ESV), Excel Maritime Carriers Ltd (EXM), Suncoke Energy (SXC), Petroleum Development Co. (PETD) and Subsea 7 SA (SUBCY) had ratings and price targets on them adjusted by analysts.
Cantor Fitzgerald downgraded Real Goods Solar, Inc. (RSOL) from a "Buy" rating to a "Hold" rating.
Macquarie downgraded ReneSola Ltd. (SOL) from a "Neutral" rating to a "Underperform" rating.
Goldman Sachs upgraded Devon Energy Co. (DVN) from a "Neutral" rating to a "Buy" rating.
JPMorgan Chase & Co. upgraded ENSCO PLC (ESV) from a "Neutral" rating to a "Overweight" rating.
Jefferies Group upgraded Excel Maritime Carriers Ltd (EXM) from a "Underperform" rating to a "Hold" rating.
Goldman Sachs upgraded Suncoke Energy (SXC) from a "Neutral" rating to a "Buy" rating.
BMO Capital Markets initiated coverage on Petroleum Development Co. (PETD). They have an "Outperform" rating.
Societe Generale upgraded Subsea 7 SA (SUBCY) from a "Sell" rating to a "Hold" rating.
Cantor Fitzgerald downgraded Real Goods Solar, Inc. (RSOL) from a "Buy" rating to a "Hold" rating.
Macquarie downgraded ReneSola Ltd. (SOL) from a "Neutral" rating to a "Underperform" rating.
Goldman Sachs upgraded Devon Energy Co. (DVN) from a "Neutral" rating to a "Buy" rating.
JPMorgan Chase & Co. upgraded ENSCO PLC (ESV) from a "Neutral" rating to a "Overweight" rating.
Jefferies Group upgraded Excel Maritime Carriers Ltd (EXM) from a "Underperform" rating to a "Hold" rating.
Goldman Sachs upgraded Suncoke Energy (SXC) from a "Neutral" rating to a "Buy" rating.
BMO Capital Markets initiated coverage on Petroleum Development Co. (PETD). They have an "Outperform" rating.
Societe Generale upgraded Subsea 7 SA (SUBCY) from a "Sell" rating to a "Hold" rating.
Newfield (NFX) (PKD) (ACI) (NE) (NUE) (TRGP) (SCHW) Ratings, Price Targets
Newfield Exploration Co. (NFX), Parker Drilling Company (PKD), Arch Coal, Inc. (ACI), Noble Corp (NE), Nucor Co. (NUE), Targa Resources Investments Inc (TRGP) and Charles Schwab (SCHW) had ratings and price targets on them adjusted by analysts.
Goldman Sachs downgraded Newfield Exploration Co. (NFX) from a "Buy" rating to a "Neutral" rating.
Standpoint Research upgraded Parker Drilling Company (PKD) from a "Hold" rating to a "Buy" rating.
Goldman Sachs downgraded Arch Coal, Inc. (ACI) from a "Neutral" rating to a "Sell" rating.
Standpoint Research downgraded Noble Corp (NE) from a "Buy" rating to a "Hold" rating.
UBS AG upgraded Nucor Co. (NUE) from a "Neutral" rating to a "Buy" rating.
JPMorgan Chase & Co. initiated coverage on Targa Resources Investments Inc (TRGP). They placed an "Overweight" rating on the company.
Citigroup upgraded Charles Schwab (SCHW) from a "Neutral" rating to a "Buy" rating.
Goldman Sachs downgraded Newfield Exploration Co. (NFX) from a "Buy" rating to a "Neutral" rating.
Standpoint Research upgraded Parker Drilling Company (PKD) from a "Hold" rating to a "Buy" rating.
Goldman Sachs downgraded Arch Coal, Inc. (ACI) from a "Neutral" rating to a "Sell" rating.
Standpoint Research downgraded Noble Corp (NE) from a "Buy" rating to a "Hold" rating.
UBS AG upgraded Nucor Co. (NUE) from a "Neutral" rating to a "Buy" rating.
JPMorgan Chase & Co. initiated coverage on Targa Resources Investments Inc (TRGP). They placed an "Overweight" rating on the company.
Citigroup upgraded Charles Schwab (SCHW) from a "Neutral" rating to a "Buy" rating.
Friday, March 16, 2012
Abraxas (AXAS) (SDRL) (OII) (STT) (MSFT) (APKT) (CHMT) Ratings, Price Targets
Abraxas Petroleum Corp. (AXAS), Seadrill Ltd (SDRL), Oceaneering International (OII), State Street Co. (STT), Microsoft (MSFT), Acme Packet, Inc. (APKT) and Chemtura (CHMT) had ratings and price targets on them adjusted by analysts.
SunTrust downgraded Abraxas Petroleum Corp. (AXAS) from a "Buy" rating to a "Neutral" rating.
Dahlman Rose downgraded Seadrill Ltd (SDRL) from a "Buy" rating to a "Hold" rating.
Tudor Pickering downgraded Oceaneering International (OII) from a "Hold" rating to a "Accumulate" rating.
Rochdale Securities upgraded State Street Co. (STT) from a "Neutral" rating to a "Buy" rating.
Argus upgraded Microsoft (MSFT) from a "Hold" rating to a "Buy" rating. They placed a price target of $39.00 on the company.
Northland Securities upgraded Acme Packet, Inc. (APKT) from a "Market Perform" rating to a "Outperform" rating.
Oppenheimer upgraded Chemtura (CHMT) from a "Market Perform" rating to a "Outperform" rating.
SunTrust downgraded Abraxas Petroleum Corp. (AXAS) from a "Buy" rating to a "Neutral" rating.
Dahlman Rose downgraded Seadrill Ltd (SDRL) from a "Buy" rating to a "Hold" rating.
Tudor Pickering downgraded Oceaneering International (OII) from a "Hold" rating to a "Accumulate" rating.
Rochdale Securities upgraded State Street Co. (STT) from a "Neutral" rating to a "Buy" rating.
Argus upgraded Microsoft (MSFT) from a "Hold" rating to a "Buy" rating. They placed a price target of $39.00 on the company.
Northland Securities upgraded Acme Packet, Inc. (APKT) from a "Market Perform" rating to a "Outperform" rating.
Oppenheimer upgraded Chemtura (CHMT) from a "Market Perform" rating to a "Outperform" rating.
Comstock (LODE) (QRE) (RBS) (BLK) (BWLD) (CHKP) (RHT) Ratings, Price Targets
Comstock Mining Inc. (LODE), QR Energy LP (QRE), Royal Bank Scotland (RBS), BlackRock, Inc. (BLK), Buffalo Wild Wings (BWLD), Check Point Software (CHKP) and Red Hat (RHT) had ratings and price targets on them adjusted by analysts.
Global Hunter Securities initiated coverage on Comstock Mining Inc. (LODE). They placed a "Buy" rating and price target of $3.50 on the company.
Stifel Nicolaus downgraded QR Energy LP (QRE) from a "Buy" rating to a "Hold" rating.
UBS AG downgraded Royal Bank Scotland (RBS) from a "Neutral" rating to a "Buy" rating.
Deutsche Bank downgraded BlackRock, Inc. (BLK) from a "Buy" rating to a "Hold" rating.
Wedbush downgraded Buffalo Wild Wings (BWLD) from an "Outperform" rating to a "Neutral" rating.
Cowen downgraded Check Point Software (CHKP) from an "Outperform" rating to a "Neutral" rating.
Morgan Stanley downgraded Red Hat (RHT) from an "Overweight" rating to an "Equal Weight" rating.
Global Hunter Securities initiated coverage on Comstock Mining Inc. (LODE). They placed a "Buy" rating and price target of $3.50 on the company.
Stifel Nicolaus downgraded QR Energy LP (QRE) from a "Buy" rating to a "Hold" rating.
UBS AG downgraded Royal Bank Scotland (RBS) from a "Neutral" rating to a "Buy" rating.
Deutsche Bank downgraded BlackRock, Inc. (BLK) from a "Buy" rating to a "Hold" rating.
Wedbush downgraded Buffalo Wild Wings (BWLD) from an "Outperform" rating to a "Neutral" rating.
Cowen downgraded Check Point Software (CHKP) from an "Outperform" rating to a "Neutral" rating.
Morgan Stanley downgraded Red Hat (RHT) from an "Overweight" rating to an "Equal Weight" rating.
Thursday, March 15, 2012
Dendreon (DNDN) (RRMS) (EXEL) (PGN) (NUVA) (OMG) (PFCB) Ratings, Price Targets
Dendreon Co. (DNDN), Rose Rock Midstream (RRMS), Exelixis, Inc. (EXEL), Progress Energy (PGN), NuVasive (NUVA), OM Group Inc (OMG) and P.F. Chang's China Bistro (PFCB) had ratings and price targets on them adjusted by analysts.
Robert W. Baird upgraded Rose Rock Midstream (RRMS) to an "Outperform" rating.
Stifel Nicolaus initiated coverage on Dendreon Co. (DNDN). They placed a "Hold" rating on the company.
Stifel Nicolaus initiated coverage on Exelixis, Inc. (EXEL). They placed a "Buy" rating and a price target of $8.00 on the company.
Dahlman Rose initiated coverage on Progress Energy (PGN). They placed a "Hold" rating on the company.
JMP Securities upgraded NuVasive (NUVA) from a "Market Perform" rating to a "Outperform" rating.
First Analysis upgraded OM Group Inc (OMG) from a "Equal Weight" rating to a "Overweight" rating.
Argus upgraded P.F. Chang's China Bistro (PFCB) from a "Sell" rating to a "Hold" rating.
Robert W. Baird upgraded Rose Rock Midstream (RRMS) to an "Outperform" rating.
Stifel Nicolaus initiated coverage on Dendreon Co. (DNDN). They placed a "Hold" rating on the company.
Stifel Nicolaus initiated coverage on Exelixis, Inc. (EXEL). They placed a "Buy" rating and a price target of $8.00 on the company.
Dahlman Rose initiated coverage on Progress Energy (PGN). They placed a "Hold" rating on the company.
JMP Securities upgraded NuVasive (NUVA) from a "Market Perform" rating to a "Outperform" rating.
First Analysis upgraded OM Group Inc (OMG) from a "Equal Weight" rating to a "Overweight" rating.
Argus upgraded P.F. Chang's China Bistro (PFCB) from a "Sell" rating to a "Hold" rating.
Amerigas (APU) (JOY) (NSC) (RRMS) (LSI) (IVR) (LVLT) Ratings, Price Targets
Amerigas Partners Lp (APU), Joy Global Inc. (JOY), Norfolk Southern Corp. (NSC), Rose Rock Midstream (RRMS), LSI Co. (LSI), Invesco Mortgage Capital (IVR) and Level 3 (LVLT) had ratings and price targets on them adjusted by analysts.
Janney Montgomery Scott downgraded Amerigas Partners Lp (APU) from a "Buy" rating to a "Neutral" rating.
UBS AG downgraded Joy Global Inc. (JOY) from a "Buy" rating to a "Neutral" rating.
Barclays Capital downgraded Norfolk Southern Corp. (NSC) to an "Equal Weight" rating.
Robert W. Baird downgraded Rose Rock Midstream (RRMS) from a "Outperform" rating to a "Neutral" rating. They have a price target of $25.00 on the company.
Credit Agricole downgraded LSI Co. (LSI) to a "Sell" rating.
FBR Capital upgraded Invesco Mortgage Capital (IVR) to a "Market Perform" rating.
Bank of America upgraded Level 3 (LVLT) to a "Buy" rating.
Janney Montgomery Scott downgraded Amerigas Partners Lp (APU) from a "Buy" rating to a "Neutral" rating.
UBS AG downgraded Joy Global Inc. (JOY) from a "Buy" rating to a "Neutral" rating.
Barclays Capital downgraded Norfolk Southern Corp. (NSC) to an "Equal Weight" rating.
Robert W. Baird downgraded Rose Rock Midstream (RRMS) from a "Outperform" rating to a "Neutral" rating. They have a price target of $25.00 on the company.
Credit Agricole downgraded LSI Co. (LSI) to a "Sell" rating.
FBR Capital upgraded Invesco Mortgage Capital (IVR) to a "Market Perform" rating.
Bank of America upgraded Level 3 (LVLT) to a "Buy" rating.
Wednesday, March 14, 2012
Great Plains (GXP) (VOD) (AEO) (ALTR) (ALU) (CBS) (GEOY) Ratings, Price Targets
Great Plains Energy (GXP), Vodafone (VOD), American Eagle (AEO), Altera (ALTR), Alcatel Lucent (ALU), CBS (CBS) and GeoEye (GEOY) had ratings and price targets on them adjusted by analysts.
Citigroup initiated coverage on Great Plains Energy (GXP). They placed a "Buy" rating on the company.
BNP Paribas downgraded Vodafone (VOD) from a "Neutral" rating to an "Underperform" rating.
Caris & Co. upgraded American Eagle (AEO) from an "Average" rating to an "Buy" rating.
Goldman Sachs upgraded Altera (ALTR) to a "Buy" rating.
BMO Capital Markets upgraded Alcatel Lucent (ALU) from a "Market Perform" rating to an "Outperform" rating.
RBC Capital upgraded CBS (CBS) from a "Outperform" rating to an "Top Pick" rating.
Dougherty & Co upgraded GeoEye (GEOY) from a "Neutral" rating to an "Buy" rating.
Citigroup initiated coverage on Great Plains Energy (GXP). They placed a "Buy" rating on the company.
BNP Paribas downgraded Vodafone (VOD) from a "Neutral" rating to an "Underperform" rating.
Caris & Co. upgraded American Eagle (AEO) from an "Average" rating to an "Buy" rating.
Goldman Sachs upgraded Altera (ALTR) to a "Buy" rating.
BMO Capital Markets upgraded Alcatel Lucent (ALU) from a "Market Perform" rating to an "Outperform" rating.
RBC Capital upgraded CBS (CBS) from a "Outperform" rating to an "Top Pick" rating.
Dougherty & Co upgraded GeoEye (GEOY) from a "Neutral" rating to an "Buy" rating.
Citigroup (C) (MTDR) (RKT) (TCBI) (AMT) (TCB) (RLD) Ratings, Price Targets
Citigroup (C), Matador Resources Co (MTDR), Rock-Tenn Company (RKT), Texas Capital (TCBI), American Tower Corporation (AMT), TCF Financial Co. (TCB) and RealD (RLD) had ratings and price targets on them adjusted by analysts.
Stifel Nicolaus upgraded Anadarko Petroleum (APC) from a "Hold" rating to a "Buy" rating. They had a price target of $100.00 on the company.
JPMorgan Chase & Co. downgraded Citigroup (C) from an "Overweight" rating to a "Neutral" rating.
Credit Agricole downgraded Rock-Tenn Company (RKT) to an "Underperforml" rating.
SunTrust downgraded Texas Capital (TCBI) from a "Buy" rating to a "Neutral" rating.
JPMorgan Chase & Co. upgraded American Tower Corporation (AMT) from a "Neutral" rating to a "Overweight" rating.
Sterne Agee upgraded TCF Financial Co. (TCB) from a "Neutral" rating to a "Buy" rating.
Dougherty & Co upgraded RealD (RLD) from a "Neutral" rating to a "Buy" rating.
Stifel Nicolaus upgraded Anadarko Petroleum (APC) from a "Hold" rating to a "Buy" rating. They had a price target of $100.00 on the company.
JPMorgan Chase & Co. downgraded Citigroup (C) from an "Overweight" rating to a "Neutral" rating.
Credit Agricole downgraded Rock-Tenn Company (RKT) to an "Underperforml" rating.
SunTrust downgraded Texas Capital (TCBI) from a "Buy" rating to a "Neutral" rating.
JPMorgan Chase & Co. upgraded American Tower Corporation (AMT) from a "Neutral" rating to a "Overweight" rating.
Sterne Agee upgraded TCF Financial Co. (TCB) from a "Neutral" rating to a "Buy" rating.
Dougherty & Co upgraded RealD (RLD) from a "Neutral" rating to a "Buy" rating.
Tuesday, March 13, 2012
Cobalt (CIE) (MTDR) (OIS) (WFM) (ASML) (AVG) (KR) Get New Coverage
Cobalt International Energy (CIE), Matador Resources Co (MTDR), Oil States International, Inc. (OIS), Whole Foods Market (WFM), ASML Holding (ASML), AVG Technologies (AVG) and Kroger (KR) had coverage on them initiated by analysts.
Credit Suisse initiated coverage on Cobalt International Energy (CIE). They placed an "Outperform" rating on the company.
RBC Capital initiated coverage on Matador Resources (MTDR). They placed an "Outperform" rating and price target of $16.00 on the company.
Barclays Capital initiated coverage on Oil States International, Inc. (OIS). They placed an "Overweight" rating on the company.
UBS AG initiated coverage on Whole Foods Market (WFM). They placed an "Buy" rating on the company.
RBC Capital initiated coverage on ASML Holding (ASML). They placed an "Outperform" rating and price target of $56.00 on the company.
JPMorgan Chase & Co. initiated coverage on AVG Technologies (AVG). They placed an "Overweight" rating on the company.
UBS AG initiated coverage on Kroger (KR). They placed an "Neutral" rating on the company.
Credit Suisse initiated coverage on Cobalt International Energy (CIE). They placed an "Outperform" rating on the company.
RBC Capital initiated coverage on Matador Resources (MTDR). They placed an "Outperform" rating and price target of $16.00 on the company.
Barclays Capital initiated coverage on Oil States International, Inc. (OIS). They placed an "Overweight" rating on the company.
UBS AG initiated coverage on Whole Foods Market (WFM). They placed an "Buy" rating on the company.
RBC Capital initiated coverage on ASML Holding (ASML). They placed an "Outperform" rating and price target of $56.00 on the company.
JPMorgan Chase & Co. initiated coverage on AVG Technologies (AVG). They placed an "Overweight" rating on the company.
UBS AG initiated coverage on Kroger (KR). They placed an "Neutral" rating on the company.
Suntech (STP) (MANT) (SCGLY) (ABV) (MDR) (CVC) (CVS) Downgraded
Suntech Power (STP), ManTech (MANT), Societe Generale SA (SCGLY), Companhia De Bebidas (ABV), McDermott International (MDR), CVS Caremark (CVS) and Cablevision (CVC) were downgraded by analysts.
Nomura downgraded Suntech Power (STP) to a "Reduce" rating.
Wells Fargo & Co. downgraded ManTech (MANT) from a "Market Perform" rating to an "Underperform" rating.
HSBC downgraded Societe Generale SA (SCGLY) from a "Overweight" rating to an "Neutral" rating.
HSBC downgraded Companhia De Bebidas (ABV) to a "Neutral" rating.
Howard Weil downgraded McDermott International (MDR) from a "Outperform" rating to an "Market Perform" rating. They have a price target of $16.00 on the company.
Deutsche Bank downgraded Cablevision (CVC) from a "Buy" rating to an "Hold" rating.
BMO Capital Markets downgraded CVS Caremark (CVS) from a "Outperform" rating to an "Market Perform" rating.
Nomura downgraded Suntech Power (STP) to a "Reduce" rating.
Wells Fargo & Co. downgraded ManTech (MANT) from a "Market Perform" rating to an "Underperform" rating.
HSBC downgraded Societe Generale SA (SCGLY) from a "Overweight" rating to an "Neutral" rating.
HSBC downgraded Companhia De Bebidas (ABV) to a "Neutral" rating.
Howard Weil downgraded McDermott International (MDR) from a "Outperform" rating to an "Market Perform" rating. They have a price target of $16.00 on the company.
Deutsche Bank downgraded Cablevision (CVC) from a "Buy" rating to an "Hold" rating.
BMO Capital Markets downgraded CVS Caremark (CVS) from a "Outperform" rating to an "Market Perform" rating.
Monday, March 12, 2012
Dynegy (DYN) (FGP) (PTEN) (ARII) (MAIN) (FSBI) (GIS) Downgraded
Dynegy Inc. (DYN), Ferrellgas Partners (FGP), Patterson-UTI (PTEN), American Railcar Industries (ARII), Main Street Capital Co. (MAIN), Fidelity Bancorp Inc (FSBI) and General Mills (GIS) were downgraded by analysts.
BTIG downgraded Dynegy Inc. (DYN) from a "Buy" rating to a "Neutral" rating.
Wells Fargo & Co. downgraded Ferrellgas Partners (FGP) from a "Market Perform" rating to a "Underperform" rating.
Miller Tabak downgraded Patterson-UTI (PTEN) from a "Buy" rating to a "Sell" rating.
KeyBanc downgraded American Railcar Industries (ARII) from a "Buy" rating to a "Hold" rating.
Morgan Keegan downgraded Main Street Capital Co. (MAIN) from an "Outperform" rating to a "Market Perform" rating.
TheStreet downgraded Fidelity Bancorp (FSBI) to a "Sell" rating.
Goldman Sachs downgraded General Mills (GIS) from a "Buy" rating to a "Neutral" rating.
BTIG downgraded Dynegy Inc. (DYN) from a "Buy" rating to a "Neutral" rating.
Wells Fargo & Co. downgraded Ferrellgas Partners (FGP) from a "Market Perform" rating to a "Underperform" rating.
Miller Tabak downgraded Patterson-UTI (PTEN) from a "Buy" rating to a "Sell" rating.
KeyBanc downgraded American Railcar Industries (ARII) from a "Buy" rating to a "Hold" rating.
Morgan Keegan downgraded Main Street Capital Co. (MAIN) from an "Outperform" rating to a "Market Perform" rating.
TheStreet downgraded Fidelity Bancorp (FSBI) to a "Sell" rating.
Goldman Sachs downgraded General Mills (GIS) from a "Buy" rating to a "Neutral" rating.
Friday, March 9, 2012
JinkoSolar (JKS) (ERII) (GGC) (STO) (ESV) (SBMRY) (MSO) Ratings, Price Targets
JinkoSolar Holding Co., Ltd. (JKS), Energy Recovery (ERII), Georgia Gulf (GGC), Statoil (STO), ENSCO PLC (ESV), SABMiller plc (SBMRY) and Martha Stewart Living Omnimedia, Inc. (MSO) had ratings and price targets on them adjusted by analysts.
Ardour Capital upgraded Energy Recovery (ERII) from a "Hold" rating to a "Accumulate" rating.
Wells Fargo & Co. upgraded Georgia Gulf (GGC) from a "Market Perform" rating to a "Outperform" rating.
Deutsche Bank upgraded Statoil (STO) from a "Hold" rating to a "Buy" rating.
Sanford C. Bernstein upgraded ENSCO PLC (ESV) from an "Outperform" rating to a "Market Perform" rating.
Natixis downgraded SABMiller plc (SBMRY) from a "Buy" rating to a "Neutral" rating.
Auriga downgraded JinkoSolar Holding Co., Ltd. (JKS) from a "Sell" rating to a "Hold" rating.
Roth Capital downgraded Martha Stewart Living Omnimedia, Inc. (MSO) from a "Neutral" rating to a "Sell" rating.
Ardour Capital upgraded Energy Recovery (ERII) from a "Hold" rating to a "Accumulate" rating.
Wells Fargo & Co. upgraded Georgia Gulf (GGC) from a "Market Perform" rating to a "Outperform" rating.
Deutsche Bank upgraded Statoil (STO) from a "Hold" rating to a "Buy" rating.
Sanford C. Bernstein upgraded ENSCO PLC (ESV) from an "Outperform" rating to a "Market Perform" rating.
Natixis downgraded SABMiller plc (SBMRY) from a "Buy" rating to a "Neutral" rating.
Auriga downgraded JinkoSolar Holding Co., Ltd. (JKS) from a "Sell" rating to a "Hold" rating.
Roth Capital downgraded Martha Stewart Living Omnimedia, Inc. (MSO) from a "Neutral" rating to a "Sell" rating.
Arch Coal (ACI) (E) (RDS.A) (WTI) (TOL) (VOLC) (BGCP) Ratings, Price Targets
Arch Coal, Inc. (ACI), Eni S.p.A. (E), Royal Dutch Shell (RDS.A), W&T Offshore, Inc. (WTI), Toll Brothers, Inc. (TOL), Volcano (VOLC) and BGC Partners, Inc. (BGCP) had ratings and price targets on them adjusted by analysts.
BMO Capital Markets downgraded Arch Coal, Inc. (ACI) from an "Outperform" rating to a "Market Perform" rating.
Sanford C. Bernstein downgraded Eni S.p.A. (E) from an "Outperform" rating to a "Market Perform" rating.
Sanford C. Bernstein downgraded Royal Dutch Shell (RDS.A) from an "Outperform" rating to a "Market Perform" rating.
Global Hunter Securities upgraded W&T Offshore, Inc. (WTI) from an "Accumulate" rating to a "Buy" rating. They raised their price target on them from $25.00 to $30.00.
Credit Suisse upgraded Toll Brothers, Inc. (TOL) from a "Neutral" rating to a "Outperform" rating.
Goldman Sachs upgraded Volcano (VOLC) from a "Neutral" rating to a "Buy" rating.
Keefe, Bruyette & Woods downgraded BGC Partners, Inc. (BGCP) from an "Outperform" rating to a "Market Perform" rating.
BMO Capital Markets downgraded Arch Coal, Inc. (ACI) from an "Outperform" rating to a "Market Perform" rating.
Sanford C. Bernstein downgraded Eni S.p.A. (E) from an "Outperform" rating to a "Market Perform" rating.
Sanford C. Bernstein downgraded Royal Dutch Shell (RDS.A) from an "Outperform" rating to a "Market Perform" rating.
Global Hunter Securities upgraded W&T Offshore, Inc. (WTI) from an "Accumulate" rating to a "Buy" rating. They raised their price target on them from $25.00 to $30.00.
Credit Suisse upgraded Toll Brothers, Inc. (TOL) from a "Neutral" rating to a "Outperform" rating.
Goldman Sachs upgraded Volcano (VOLC) from a "Neutral" rating to a "Buy" rating.
Keefe, Bruyette & Woods downgraded BGC Partners, Inc. (BGCP) from an "Outperform" rating to a "Market Perform" rating.
Thursday, March 8, 2012
WPX (WPX) (AMID) (SSW) (DPM) (BG) (SGY) Ratings, Price Targets
WPX ENERGY INC (WPX), American Midstream Partners LP (AMID), Seaspan Co. (SSW), DCP Midstream Partners, LP (DPM), Bunge Limited (BG) and Stone Energy (SGY) had ratings and price targets on them adjusted by analysts.
Bank of America downgraded American Midstream Partners LP (AMID) from a "Buy" rating to a "Neutral" rating.
Credit Suisse downgraded Seaspan Co. (SSW) from a "Neutral" rating to a "Underperform" rating.
Bank of America upgraded DCP Midstream Partners, LP (DPM) from a "Neutral" rating to a "Buy" rating.
Feltl & Co. initiated coverage on Bunge Limited (BG). They have a "Strong-Buy" rating and a price target of $83.00 on the company.
Sidoti initiated coverage on Stone Energy (SGY). They placed a "Buy" rating on the company.
JPMorgan Chase & Co. initiated coverage on WPX ENERGY (WPX). They placed a "Neutral" rating on the company.
Bank of America downgraded American Midstream Partners LP (AMID) from a "Buy" rating to a "Neutral" rating.
Credit Suisse downgraded Seaspan Co. (SSW) from a "Neutral" rating to a "Underperform" rating.
Bank of America upgraded DCP Midstream Partners, LP (DPM) from a "Neutral" rating to a "Buy" rating.
Feltl & Co. initiated coverage on Bunge Limited (BG). They have a "Strong-Buy" rating and a price target of $83.00 on the company.
Sidoti initiated coverage on Stone Energy (SGY). They placed a "Buy" rating on the company.
JPMorgan Chase & Co. initiated coverage on WPX ENERGY (WPX). They placed a "Neutral" rating on the company.
Wednesday, March 7, 2012
China's Corn Supply Less Than Reported
China's domestic supply of corn appears to be quite a bit less than estimated, as local and regional farmers, apparently in an attempt to boost their status with the Chinese government appear to have overestimated the corn harvest in the country.
Both the Chinese government and the USDA said the country had produced a record crop of 191.8 million tons in 2011, but that appears to be anywhere from 6.8 million tons to 24 million tons less than the actual corn production numbers.
Domestic Chinese corn has already started to jump in price in response to government agencies and private producers bidding for the grain in the tighter-than-expected market.
Originally the USDA estimated China's corn imports at about 4 million tons, assuming the accuracy of the 191.8 million ton figure. That could, and probably will change significantly as the situation unfolds. Some estimate that corn production in China for 2011 may be as low as 168 million tons.
China has officially come out and said they have enough corn reserves and won't need to import a lot of corn for 2012, but that could be a negotiating ploy to keep corn prices somewhat stable as demand ramps up.
Even so, and with the drought pressuring corn supply in Brazil and Argentina, China can easily enough shift to importing wheat as a secondary choice if corn prices rise too high, waiting for an opportune time when the price pulls back. It'll be an interesting year for corn imports and exports around the world, including the United States.
Both the Chinese government and the USDA said the country had produced a record crop of 191.8 million tons in 2011, but that appears to be anywhere from 6.8 million tons to 24 million tons less than the actual corn production numbers.
Domestic Chinese corn has already started to jump in price in response to government agencies and private producers bidding for the grain in the tighter-than-expected market.
Originally the USDA estimated China's corn imports at about 4 million tons, assuming the accuracy of the 191.8 million ton figure. That could, and probably will change significantly as the situation unfolds. Some estimate that corn production in China for 2011 may be as low as 168 million tons.
China has officially come out and said they have enough corn reserves and won't need to import a lot of corn for 2012, but that could be a negotiating ploy to keep corn prices somewhat stable as demand ramps up.
Even so, and with the drought pressuring corn supply in Brazil and Argentina, China can easily enough shift to importing wheat as a secondary choice if corn prices rise too high, waiting for an opportune time when the price pulls back. It'll be an interesting year for corn imports and exports around the world, including the United States.
STWA (ZERO) Soars on LG Partner Letter of Intent
A letter of intent to use STWA, Inc.'s (OTC.BB: ZERO.OB) Applied Oil Technology™ (AOT™) by LG Partners sent shares of STWA soaring Wednesday, with the company closing up over 26 percent on the day.
The press release said this, "LG Partners is currently developing the $2.5 billion, 900-mile pipeline to transport medium and heavy crude oil to markets currently experiencing a lack of diverse pipeline suppliers. This multinational pipeline is designed to be 42" in diameter, with a transport capacity of 30 to 60 million tons of crude oil per year, or approximately 600,000 to 1.2 million barrels per day."
Also described in the press release was the technology STWA has designed for improved costs and efficiencies of pipeline operations:
"STWA's Applied Oil Technology™ (AOT™) is designed to allow pipeline operators to temporarily reduce the viscosity of the crude oil within their pipeline(s) to reduce the fluid-drag (also known as friction-loss) between the fluid and the pipeline. By reducing the friction loss, pipeline operators' pump systems require less energy to maintain a constant flow rate, thereby directly reducing daily operation costs."
The significance of this isn't simply making a potential deal, but because of the ability to make the deal, it appears the company is subtly announcing the trial phase of the Applied Oil Technology is over, and commercialization is ready to begin.
STWA closed Wednesday at $0.46, up $0.09, or 26.03 percent. They traded as high as $0.49 before pulling slightly back. They've trading in a 52-week range of $0.18 to $0.49, and have a market cap now of $52.08 million.
Trading volume Wednesday was almost ten times the average 3-month volume.
The press release said this, "LG Partners is currently developing the $2.5 billion, 900-mile pipeline to transport medium and heavy crude oil to markets currently experiencing a lack of diverse pipeline suppliers. This multinational pipeline is designed to be 42" in diameter, with a transport capacity of 30 to 60 million tons of crude oil per year, or approximately 600,000 to 1.2 million barrels per day."
Also described in the press release was the technology STWA has designed for improved costs and efficiencies of pipeline operations:
"STWA's Applied Oil Technology™ (AOT™) is designed to allow pipeline operators to temporarily reduce the viscosity of the crude oil within their pipeline(s) to reduce the fluid-drag (also known as friction-loss) between the fluid and the pipeline. By reducing the friction loss, pipeline operators' pump systems require less energy to maintain a constant flow rate, thereby directly reducing daily operation costs."
The significance of this isn't simply making a potential deal, but because of the ability to make the deal, it appears the company is subtly announcing the trial phase of the Applied Oil Technology is over, and commercialization is ready to begin.
STWA closed Wednesday at $0.46, up $0.09, or 26.03 percent. They traded as high as $0.49 before pulling slightly back. They've trading in a 52-week range of $0.18 to $0.49, and have a market cap now of $52.08 million.
Trading volume Wednesday was almost ten times the average 3-month volume.
CVR (CVI) (TSO) (APC) (HES) (MRO) (TLM) (AVAV) Ratings, Price Targets
CVR Energy, Inc. (CVI), Tesoro Co. (TSO), Anadarko Petroleum (APC), Hess Corp. (HES), Marathon Oil Co. (MRO), Talisman Energy (TLM) and AeroVironment (AVAV) had ratings and price targets on them adjusted by analysts.
Macquarie downgraded CVR Energy, Inc. (CVI) from a "Outperform" rating to a "Neutral" rating.
Bank of America upgraded Tesoro Co. (TSO) from a "Underperform" rating to a "Neutral" rating.
Global Hunter Securities initiated coverage on Anadarko Petroleum (APC). They placed a "Buy" rating and price target of $102.00 on the company.
Global Hunter Securities initiated coverage on Hess Corp. (HES). They placed a "Neutral" rating and price target of $70.00 on the company.
Global Hunter Securities initiated coverage on Marathon Oil Co. (MRO). They placed a "Neutral" rating and price target of $37.00 on the company.
Global Hunter Securities initiated coverage on Talisman Energy (TLM). They placed a "Neutral" rating " rating and price target of $14.50 on the company.
EarlyBird Capital downgraded AeroVironment (AVAV) from a "Buy" rating to a "Hold" rating.
Macquarie downgraded CVR Energy, Inc. (CVI) from a "Outperform" rating to a "Neutral" rating.
Bank of America upgraded Tesoro Co. (TSO) from a "Underperform" rating to a "Neutral" rating.
Global Hunter Securities initiated coverage on Anadarko Petroleum (APC). They placed a "Buy" rating and price target of $102.00 on the company.
Global Hunter Securities initiated coverage on Hess Corp. (HES). They placed a "Neutral" rating and price target of $70.00 on the company.
Global Hunter Securities initiated coverage on Marathon Oil Co. (MRO). They placed a "Neutral" rating and price target of $37.00 on the company.
Global Hunter Securities initiated coverage on Talisman Energy (TLM). They placed a "Neutral" rating " rating and price target of $14.50 on the company.
EarlyBird Capital downgraded AeroVironment (AVAV) from a "Buy" rating to a "Hold" rating.
Alpha (ANR) (MPC) (BID) (WWE) (CCIH) (GCA) (GDP) Ratings, Price Targets
Alpha Natural Resources (ANR), Marathon Petroleum (MPC), Sotheby's (BID), World Wrestling Entertainment Inc (WWE), Chinacache International Holdings Limited (CCIH), Global Cash Access Holdings, Inc. (GCA) and Goodrich Petroleum Co. (GDP) had ratings and price targets on them adjusted by analysts.
CRT Capital upgraded Alpha Natural Resources (ANR) to a "Sell" rating.
Benchmark Co. initiated coverage on Marathon Petroleum (MPC). They placed a "Hold" rating and price target of $39.00 on the company.
Williams Capital downgraded Sotheby's (BID) from a "Buy" rating to a "Hold" rating.
Roth Capital downgraded World Wrestling Entertainment (WWE) from a "Buy" rating to a "Neutral" rating.
Pacific Crest downgraded Chinacache International Holdings Limited (CCIH) from an "Outperform" rating to a "Sector Perform" rating.
Compass Point upgraded Global Cash Access Holdings, Inc. (GCA) from a "Neutral" rating to a "Buy" rating. They raised their price target from $5.00 to $12.00 on the company.
Capital One downgraded Goodrich Petroleum Co. (GDP) to a "Neutral" rating.
CRT Capital upgraded Alpha Natural Resources (ANR) to a "Sell" rating.
Benchmark Co. initiated coverage on Marathon Petroleum (MPC). They placed a "Hold" rating and price target of $39.00 on the company.
Williams Capital downgraded Sotheby's (BID) from a "Buy" rating to a "Hold" rating.
Roth Capital downgraded World Wrestling Entertainment (WWE) from a "Buy" rating to a "Neutral" rating.
Pacific Crest downgraded Chinacache International Holdings Limited (CCIH) from an "Outperform" rating to a "Sector Perform" rating.
Compass Point upgraded Global Cash Access Holdings, Inc. (GCA) from a "Neutral" rating to a "Buy" rating. They raised their price target from $5.00 to $12.00 on the company.
Capital One downgraded Goodrich Petroleum Co. (GDP) to a "Neutral" rating.
Tuesday, March 6, 2012
Mississippi Wastes $75 Million on Ethanol Scam
I wonder if the politicians in Mississippi know how to read or listen, as the news of the hundreds of millions wasted on so-called renewable energy by the Obama administration doesn't seemed to have reached the deep south, with Mississippi throwing around $75 million in low interest loans for the building of cellulosic biofuels plant in the state.
They also have offered up $155 million in tax incentives to get the boondoggle going. What a criminal waste of the taxpayer's money. And yes it is taxpayers money because they're the ones that will have to pay for it when it crashes and burns.
The company confisgating the state loan is named Virdia, which just changed its name from HCL Cleantech. They take natural matter such as woodchips and other plant matter and convert it into sugar, which is then converted into ethanol.
Virdia CEO Philippe Lavielle admits the amount of money offered by the state, along with $10 million in venture debt and another $20 million in venture capital equity isn't enough to build a viable plant that can successfully operate at a commercial level and compete against corn-based ethanol. He confessed concerning the money that "it takes more than that. It takes a chemical firm that will want to build it to have access to sugars for their own conversion processes."
According to Lavielle, the costs of building a commerical plant which would produce about 500,000 tons of sugar on an annual basis is $380 million. That could supply a 25-million-gallon ethanol plant, according to the CEO.
Another negative factor and complication to the success of such a plant would be the need for it to be located close to a chemical plant or a paper mill so it could be able to tap into the power infrastructure serving those businesses, and in the case of the paper mill, to be able to use the existing equipment for handling wood. Lavielle says it'll take up to three years for a plant like that to be built.
Historically capital requirements and projections are almost without exception much higher and take a lot longer to reach the expected goals.
To be able to compete with the scammy and damaging corn-based ethanol, Lavielle says corn would have to remain at a price of over $4 a bushel. While corn prices in the United States are higher now because of droughts in Argentina and Brazil which are expected to generate more exports for U.S. corn, that's a temporary situation, and corn could easily plummet below the $4 mark very rapidly.
Add to this the cost factors associated with cellulosic, which includes the requirement of having a wood production facility very close or the cost of shipping wood and plant matter to the facility soars.
Looking at the overall picture, ethanol, no matter what the form, is a waste of valuable time and money.
New discoveries of oil and gas shale, along with the technology to extract it from the rock, has changed the entire energy game in the United States, which now has enough energy to last possibly for centuries.
The known reserves already are estimated to last for well over a century in the United States, and there are many areas where it is unknown as to how much there actually is in America, let alone across the world. That's the future of American energy independence, not these idiotic and irresponsible projects that are truly nothing more than a scam. Ethanol, whether produced by corn, wood chips or plant material, is nothing more than that.
The people of Mississippi should be outraged over this travesty, but they're surely drinking the kool aide of jobs being created, even though not too long afterwards when the company declares bankruptcy, they'll all be lost.
They also have offered up $155 million in tax incentives to get the boondoggle going. What a criminal waste of the taxpayer's money. And yes it is taxpayers money because they're the ones that will have to pay for it when it crashes and burns.
The company confisgating the state loan is named Virdia, which just changed its name from HCL Cleantech. They take natural matter such as woodchips and other plant matter and convert it into sugar, which is then converted into ethanol.
Virdia CEO Philippe Lavielle admits the amount of money offered by the state, along with $10 million in venture debt and another $20 million in venture capital equity isn't enough to build a viable plant that can successfully operate at a commercial level and compete against corn-based ethanol. He confessed concerning the money that "it takes more than that. It takes a chemical firm that will want to build it to have access to sugars for their own conversion processes."
According to Lavielle, the costs of building a commerical plant which would produce about 500,000 tons of sugar on an annual basis is $380 million. That could supply a 25-million-gallon ethanol plant, according to the CEO.
Another negative factor and complication to the success of such a plant would be the need for it to be located close to a chemical plant or a paper mill so it could be able to tap into the power infrastructure serving those businesses, and in the case of the paper mill, to be able to use the existing equipment for handling wood. Lavielle says it'll take up to three years for a plant like that to be built.
Historically capital requirements and projections are almost without exception much higher and take a lot longer to reach the expected goals.
To be able to compete with the scammy and damaging corn-based ethanol, Lavielle says corn would have to remain at a price of over $4 a bushel. While corn prices in the United States are higher now because of droughts in Argentina and Brazil which are expected to generate more exports for U.S. corn, that's a temporary situation, and corn could easily plummet below the $4 mark very rapidly.
Add to this the cost factors associated with cellulosic, which includes the requirement of having a wood production facility very close or the cost of shipping wood and plant matter to the facility soars.
Looking at the overall picture, ethanol, no matter what the form, is a waste of valuable time and money.
New discoveries of oil and gas shale, along with the technology to extract it from the rock, has changed the entire energy game in the United States, which now has enough energy to last possibly for centuries.
The known reserves already are estimated to last for well over a century in the United States, and there are many areas where it is unknown as to how much there actually is in America, let alone across the world. That's the future of American energy independence, not these idiotic and irresponsible projects that are truly nothing more than a scam. Ethanol, whether produced by corn, wood chips or plant material, is nothing more than that.
The people of Mississippi should be outraged over this travesty, but they're surely drinking the kool aide of jobs being created, even though not too long afterwards when the company declares bankruptcy, they'll all be lost.
Chesapeake's (CHK) and McClendon's Shale Revenue Alternative
The announcement from Chesapeake Energy (CHK) CEO Aubrey McClendon and Kohlberg Kravis Roberts & Co. (KKR) that they are entering a $250 million joint venture received mixed responses from pundits and analysts.
As for the deal, KKR will supply $225 million of the investment while Chesapeake will invest the remaining $25 million.
The purpose of the joint venture is for the two companies to acquire more oil and gas shale plays in order to generate royalties from the properties.
Chesapeake will do the majority of the lifting because of its expertise in the sector; owning and managing the shale assets on behalf of the venture.
With KKR putting up 90 percent of the capital, it has to stand to reason that they will almost assuredly, after some management fees, take in that same amount in royalties.
Aubrey McClendon has an insatiable drive to own more and more shale assets. But with the capital spigot running dry for Chesapeake, he's extending the reach of the company through the joint venture.
KKR director Robert Antablin said this, "Driven predominantly by the recent advancements in unconventional oil and gas technology, we continue to see attractive opportunities to invest behind the domestic exploration and production of oil and gas."
On Chesapeake's part, they must get more access to oil assets because the low price of natural gas has pressured the company's margins and earnings.
In 2011 they spend upwards of $1 billion to make acquisitions to that effect. This venture gives them access to more land and oil assets without having to cough up money it simply no longer has to make the deals it needs for shale oil acreage.
This assumes McClendon isn't blind or foolish enough to buy up even more major gas holdings with the additional capital in his hands.
The market wasn't impressed with the announcement of the joint venture, as many investors and onlookers believe Chesapeake is already in way over its head. They've already sold off some of its properties and made deal with other parterns.
So the idea of pursuing even more acreage doesn't sound too good for those who have watched Chesapeake with consternation as its debt soared and gas prices plummeted.
If this capital isn't used to acquire significant oil assets, it'll be a shock, and the future of Chesapeake would look as bleak as it ever has.
The good news is if they keep focused, Chesapeake is a good at sourcing and managing resources as anyone out there, and lower risk plays like this could help them gain some respectibility and bring back some significant profitability back to the company.
KKR closed at $13.61, down $0.25, or 1.80 percent. Chesapeake ended the session at $23.56, plunging $0.67, or 2.77 percent.
As for the deal, KKR will supply $225 million of the investment while Chesapeake will invest the remaining $25 million.
The purpose of the joint venture is for the two companies to acquire more oil and gas shale plays in order to generate royalties from the properties.
Chesapeake will do the majority of the lifting because of its expertise in the sector; owning and managing the shale assets on behalf of the venture.
With KKR putting up 90 percent of the capital, it has to stand to reason that they will almost assuredly, after some management fees, take in that same amount in royalties.
Aubrey McClendon has an insatiable drive to own more and more shale assets. But with the capital spigot running dry for Chesapeake, he's extending the reach of the company through the joint venture.
KKR director Robert Antablin said this, "Driven predominantly by the recent advancements in unconventional oil and gas technology, we continue to see attractive opportunities to invest behind the domestic exploration and production of oil and gas."
On Chesapeake's part, they must get more access to oil assets because the low price of natural gas has pressured the company's margins and earnings.
In 2011 they spend upwards of $1 billion to make acquisitions to that effect. This venture gives them access to more land and oil assets without having to cough up money it simply no longer has to make the deals it needs for shale oil acreage.
This assumes McClendon isn't blind or foolish enough to buy up even more major gas holdings with the additional capital in his hands.
The market wasn't impressed with the announcement of the joint venture, as many investors and onlookers believe Chesapeake is already in way over its head. They've already sold off some of its properties and made deal with other parterns.
So the idea of pursuing even more acreage doesn't sound too good for those who have watched Chesapeake with consternation as its debt soared and gas prices plummeted.
If this capital isn't used to acquire significant oil assets, it'll be a shock, and the future of Chesapeake would look as bleak as it ever has.
The good news is if they keep focused, Chesapeake is a good at sourcing and managing resources as anyone out there, and lower risk plays like this could help them gain some respectibility and bring back some significant profitability back to the company.
KKR closed at $13.61, down $0.25, or 1.80 percent. Chesapeake ended the session at $23.56, plunging $0.67, or 2.77 percent.
Wisconsin Corn, Crop Prices for February 2012
Prices for corn and other Wisconsin crops were mixed for February, with month over month and year over year prices fluctuating.
For corn, the average price per bushel climbed to $5.97, a gain of 19 cents over January's price, and a jump of 38 cents over the price of a bushel in February 2011. However, it was less than the average price of corn per bushel in the U.S. for February, which came in at $6.16 as of the middle of the month.
The price of soybeans, on average, was at $12.50 per bushel in the middle of February, up 60 cents a bushel over January, but dropping 40 cents a bushel against the February 2011 price. It was higher than the overall U.S. soybean average of $12.30 a bushel as of the middle of February.
Oats in Wisconsin generated $3.59 a bushel, up 31 cents over January and 47 cents higher than the price in February 2011. That was a little less than the U.S. average of $3.66 a bushel for oats.
For alfalfa hay, the price as of the middle of February was $125.00 a ton, $25.00 over the price of February 2011, but about the same as January 2012.
For corn, the average price per bushel climbed to $5.97, a gain of 19 cents over January's price, and a jump of 38 cents over the price of a bushel in February 2011. However, it was less than the average price of corn per bushel in the U.S. for February, which came in at $6.16 as of the middle of the month.
The price of soybeans, on average, was at $12.50 per bushel in the middle of February, up 60 cents a bushel over January, but dropping 40 cents a bushel against the February 2011 price. It was higher than the overall U.S. soybean average of $12.30 a bushel as of the middle of February.
Oats in Wisconsin generated $3.59 a bushel, up 31 cents over January and 47 cents higher than the price in February 2011. That was a little less than the U.S. average of $3.66 a bushel for oats.
For alfalfa hay, the price as of the middle of February was $125.00 a ton, $25.00 over the price of February 2011, but about the same as January 2012.
Carrizo (CRZO) (FST) (PKD) (CCO) (NVS) (MWW) (TSN) Ratings, Price Targets
Carrizo Oil & Gas (CRZO), Forest Oil Co. (FST), Parker Drilling Company (PKD), Clear Channel Outdoor Holdings, Inc. (CCO), Novartis (NVS), Monster Worldwide, Inc. (MWW) and Tyson Foods, Inc. (TSN) had ratings and price targets adjusted by analysts.
Imperial Capital downgraded Carrizo Oil & Gas (CRZO) to an "Outperform" rating.
Capital One upgraded Forest Oil Co. (FST) to a "Neutral" rating.
Global Hunter Securities initiated coverage on Parker Drilling Company (PKD). They placed an "Accumulate" rating on the company.
Wells Fargo & Co. downgraded Clear Channel Outdoor Holdings, Inc. (CCO) from an "Outperform" rating to a "Market Perform" rating.
JPMorgan Chase & Co. downgraded Novartis (NVS) from an "Overweight" rating to a "Neutral" rating.
Evercore Partners upgraded Monster Worldwide, Inc. (MWW) from an "Equal Weight" rating to a "Overweight" rating.
Davenport upgraded Tyson Foods, Inc. (TSN) from a "Neutral" rating to a "Buy" rating.
Imperial Capital downgraded Carrizo Oil & Gas (CRZO) to an "Outperform" rating.
Capital One upgraded Forest Oil Co. (FST) to a "Neutral" rating.
Global Hunter Securities initiated coverage on Parker Drilling Company (PKD). They placed an "Accumulate" rating on the company.
Wells Fargo & Co. downgraded Clear Channel Outdoor Holdings, Inc. (CCO) from an "Outperform" rating to a "Market Perform" rating.
JPMorgan Chase & Co. downgraded Novartis (NVS) from an "Overweight" rating to a "Neutral" rating.
Evercore Partners upgraded Monster Worldwide, Inc. (MWW) from an "Equal Weight" rating to a "Overweight" rating.
Davenport upgraded Tyson Foods, Inc. (TSN) from a "Neutral" rating to a "Buy" rating.
Harvest (HNR) (KWK) (CRZBY) (NLY) (DB) (WAT) (AMGN) Ratings
Harvest Natural Resources, Inc. (HNR), Quicksilver Resources Inc (KWK), Commerzbank AG (CRZBY), Annaly Capital Management, Inc. (NLY), Deutsche Bank (DB), Waters Corporation (WAT) and Amgen, Inc. (AMGN) had ratings on them initiated or adjusted by analysts.
Pritchard upraded Harvest Natural Resources, Inc. (HNR) from a "Neutral" rating to a "Buy" rating.
Capital One upgraded Quicksilver Resources Inc (KWK) to a "Neutral" rating.
ING Group downgraded Commerzbank AG (CRZBY) from a "Buy" rating to a "Hold" rating.
Wells Fargo & Co. downgraded Annaly Capital Management, Inc. (NLY) from a "Outperform" rating to a "Market Perform" rating.
ING Group initiated coverage on Deutsche Bank (DB). They placed a "Buy" rating on the company.
Morgan Stanley initiated coverage on Waters Corporation (WAT). They placed an "Overweight" rating on the company.
Sanford C. Bernstein downgraded Amgen, Inc. (AMGN) from a "Outperform" rating to a "Market Perform" rating.
Pritchard upraded Harvest Natural Resources, Inc. (HNR) from a "Neutral" rating to a "Buy" rating.
Capital One upgraded Quicksilver Resources Inc (KWK) to a "Neutral" rating.
ING Group downgraded Commerzbank AG (CRZBY) from a "Buy" rating to a "Hold" rating.
Wells Fargo & Co. downgraded Annaly Capital Management, Inc. (NLY) from a "Outperform" rating to a "Market Perform" rating.
ING Group initiated coverage on Deutsche Bank (DB). They placed a "Buy" rating on the company.
Morgan Stanley initiated coverage on Waters Corporation (WAT). They placed an "Overweight" rating on the company.
Sanford C. Bernstein downgraded Amgen, Inc. (AMGN) from a "Outperform" rating to a "Market Perform" rating.
Monday, March 5, 2012
China's Gold Strategy
There are a lot of theories being thrown around as to why China is acquiring so much gold. Everything from a failing economy to diversification are part of the media narrative.
I don't think it's primarily related to those or other assumptions, although the there is probably some truth to the diversification element of the story.
At bottom though, it appears China is positioning itself to enhance its currency, and make it much more desirable to the world, as the U.S. dollar continues to weaken because of the horrendous policies of the government and endless printing of U.S. dollars by the Federal Reserve.
With the U.S. dollar inevitably going the way of the British Pound, as far as being the reserve currency of the world, China, no doubt, wants to embrace that role with the renminbi.
This appears to be the reason the country is encouraging its citizens to acquire gold, and why it's importing so much even while it mines gold domestically at record levels.
China has a much longer timeframe than America and the West, and they'll be content to continually acquire gold in preparation for the eventual migration of the world to the renminbi as the reserve currency. It's only a matter of when, not if.
I don't think it's primarily related to those or other assumptions, although the there is probably some truth to the diversification element of the story.
At bottom though, it appears China is positioning itself to enhance its currency, and make it much more desirable to the world, as the U.S. dollar continues to weaken because of the horrendous policies of the government and endless printing of U.S. dollars by the Federal Reserve.
With the U.S. dollar inevitably going the way of the British Pound, as far as being the reserve currency of the world, China, no doubt, wants to embrace that role with the renminbi.
This appears to be the reason the country is encouraging its citizens to acquire gold, and why it's importing so much even while it mines gold domestically at record levels.
China has a much longer timeframe than America and the West, and they'll be content to continually acquire gold in preparation for the eventual migration of the world to the renminbi as the reserve currency. It's only a matter of when, not if.
Enbridge's (ENB) U.S. Pipeline Remains Closed
After a two-vehicle accident in Illinois close to the the township of New Lenox, the pipeline of Enbridge (NYSE:ENB), which delivers the majority of oil from Canada to the United States, remains closed, and may remain closed for up to four more days.
The accident took place by an above-ground part of the conduit close to a pumping station.
Enbridge's Line 14/64, which delivers 318,000 barrel a day, will probably result in pressuring prices for Canadian crude in response to the accident.
Line 14, may start up again as early as Wednesday, while Line 64, is estimated to restart on Thursday.
Enbridge spokeswoman Lorraine Little said these estimates are subject to change because they were the initial assessments made by the company.
The capacity for Line 14/64 is north of 2 million barrels a day, which amounts to close to 3 percent of American imports. Canada exports the oil from Alberta tar sands.
Potentially affected by the slowdown is Exxon Mobil (NYSE:XOM), which receives some oil from the pipeline, which they get at its refinery located in Joliet, Illinois. Exxon says at this time they are meeting contractual obligations.
Enbridge was trading at $38.34, down $0.38, or 0.98 percent, as of 12:16 PM EST. Exxon was trading at $86.63, up $0.30, or 0.35 percent.
The accident took place by an above-ground part of the conduit close to a pumping station.
Enbridge's Line 14/64, which delivers 318,000 barrel a day, will probably result in pressuring prices for Canadian crude in response to the accident.
Line 14, may start up again as early as Wednesday, while Line 64, is estimated to restart on Thursday.
Enbridge spokeswoman Lorraine Little said these estimates are subject to change because they were the initial assessments made by the company.
The capacity for Line 14/64 is north of 2 million barrels a day, which amounts to close to 3 percent of American imports. Canada exports the oil from Alberta tar sands.
Potentially affected by the slowdown is Exxon Mobil (NYSE:XOM), which receives some oil from the pipeline, which they get at its refinery located in Joliet, Illinois. Exxon says at this time they are meeting contractual obligations.
Enbridge was trading at $38.34, down $0.38, or 0.98 percent, as of 12:16 PM EST. Exxon was trading at $86.63, up $0.30, or 0.35 percent.
Corn and Midwest Storms and Hurricanes
Damage to corn and other crops have yet be assessed from the destructive hurricanes and storms which ravage much of the midwest and parts of the south.
States and surrounding regions most affected by the storms are Kentucky, Illinois and Indiana.
Of particular interest will be the extent of damage to any stored grains or crops, as well as on the building and storage units themselves.
It'll probably take some time before we know if there is enough damage to have a significant impact on crop prices or exports.
States and surrounding regions most affected by the storms are Kentucky, Illinois and Indiana.
Of particular interest will be the extent of damage to any stored grains or crops, as well as on the building and storage units themselves.
It'll probably take some time before we know if there is enough damage to have a significant impact on crop prices or exports.
Argentina, Brazil Corn Production May Exceed Estimates
Corn production estimates last month by the U.S. Department of Agriculture for Argentina and Brazil may have been understated, as a report from Informa Economics on March 2 said.
Drought in both countries resulted in the USDA projection a 22 million ton harvest in Argentina and a 61 million ton harvest in Brazil. According to Informa, those numbers could reach 22.5 million tons of corn harvested in Argentina and 61.5 million tons or corn harvested in Brazil for 2012.
Offsetting that data was the news South Korea’s Nonghyup Feed Inc., the largest buyer of feed grains in the country, acquired 126,000 metric tons of U.S. corn on March second, which is scheduled for July delivery.
That has helped push up the price of corn futures slightly in Monday trading.
Drought in both countries resulted in the USDA projection a 22 million ton harvest in Argentina and a 61 million ton harvest in Brazil. According to Informa, those numbers could reach 22.5 million tons of corn harvested in Argentina and 61.5 million tons or corn harvested in Brazil for 2012.
Offsetting that data was the news South Korea’s Nonghyup Feed Inc., the largest buyer of feed grains in the country, acquired 126,000 metric tons of U.S. corn on March second, which is scheduled for July delivery.
That has helped push up the price of corn futures slightly in Monday trading.
CMS (CMS) (CHG) (CNP) (SDRL) (FE) (ENS) (ZNGA) Ratings, Price Targets
CMS Energy (CMS), CH Energy Group (CHG), CenterPoint Energy, Inc. (CNP), Seadrill Ltd (SDRL), FirstEnergy Corp. (FE), EnerSys (ENS) and Zynga Inc. (ZNGA) had ratings and price targets on them adjusted by analysts.
Brean Murray downgraded CH Energy Group (CHG) from a "Buy" rating to a "Hold" rating. They have a placed a price target of $69.00 on the company.
RBC Capital downgraded CenterPoint Energy, Inc. (CNP) from an "Outperform" rating to a "Sector Perform" rating.
Bank of America downgraded Seadrill Ltd (SDRL) from a "Buy" rating to a "Neutral" rating.
Caris & Co. upgraded CMS Energy (CMS) from an "Above Average" rating to an "Average" rating. $23.50
ISI Group upgraded FirstEnergy Corp. (FE) from a "Hold" rating to a "Buy" rating.
Stifel Nicolaus initiated coverage on EnerSys (ENS). They have a "Buy" rating and a price target of $40.00 on the company.
JPMorgan Chase & Co. downgraded Zynga Inc. (ZNGA) from an "Overweight" rating to a "Neutral" rating.
Brean Murray downgraded CH Energy Group (CHG) from a "Buy" rating to a "Hold" rating. They have a placed a price target of $69.00 on the company.
RBC Capital downgraded CenterPoint Energy, Inc. (CNP) from an "Outperform" rating to a "Sector Perform" rating.
Bank of America downgraded Seadrill Ltd (SDRL) from a "Buy" rating to a "Neutral" rating.
Caris & Co. upgraded CMS Energy (CMS) from an "Above Average" rating to an "Average" rating. $23.50
ISI Group upgraded FirstEnergy Corp. (FE) from a "Hold" rating to a "Buy" rating.
Stifel Nicolaus initiated coverage on EnerSys (ENS). They have a "Buy" rating and a price target of $40.00 on the company.
JPMorgan Chase & Co. downgraded Zynga Inc. (ZNGA) from an "Overweight" rating to a "Neutral" rating.
Silver Wheaton (SLW) (BASFY) (HK) (JBL) (KNOL) (LEAP) (NDZ) Ratings, Price Targets
Silver Wheaton Corp. (SLW), BASF SE (BASFY), Halcon Resources (HK), Jabil Circuit, Inc. (JBL), Knology, Inc. (KNOL), Leap Wireless (LEAP) and Nordion (NDZ) had ratings and price targets on them adjusted by analysts.
Macquarie downgraded Silver Wheaton Corp. (SLW) from an "Outperform" rating to a "Neutral" rating.
Citigroup downgraded BASF SE (BASFY) from a "Buy" rating to a "Neutral" rating.
Global Hunter downgraded Securities Halcon Resources (HK) from an "Accumulate" rating to a "Neutral" rating. They raised their price target on the company from $6.60 to $11.00.
Needham & Company downgraded Jabil Circuit, Inc. (JBL) from a "Strong-Buy" rating to a "Buy" rating. They raised their price target on the company from $26.00 to $29.00.
Stifel Nicolaus downgraded Knology, Inc. (KNOL) from a "Buy" rating to a "Hold" rating
Sanford C. Bernstein downgraded Leap Wireless (LEAP) from a "Outperform" rating to a "Market Perform" rating
Desjardins downgraded Nordion (NDZ) from a "Buy" rating to a "Hold" rating.
Macquarie downgraded Silver Wheaton Corp. (SLW) from an "Outperform" rating to a "Neutral" rating.
Citigroup downgraded BASF SE (BASFY) from a "Buy" rating to a "Neutral" rating.
Global Hunter downgraded Securities Halcon Resources (HK) from an "Accumulate" rating to a "Neutral" rating. They raised their price target on the company from $6.60 to $11.00.
Needham & Company downgraded Jabil Circuit, Inc. (JBL) from a "Strong-Buy" rating to a "Buy" rating. They raised their price target on the company from $26.00 to $29.00.
Stifel Nicolaus downgraded Knology, Inc. (KNOL) from a "Buy" rating to a "Hold" rating
Sanford C. Bernstein downgraded Leap Wireless (LEAP) from a "Outperform" rating to a "Market Perform" rating
Desjardins downgraded Nordion (NDZ) from a "Buy" rating to a "Hold" rating.
Friday, March 2, 2012
Study Concludes Shale Gas Extraction Safe
A study by the Polish Geological Institute concluded extraction of shale gas wasn't harmful to the environment, triggering quick responses from so-called environementalist who don't want that to be the narrative going forward.
According to the report, Canadian Lane Energy performed test drills in the norther portion of Poland, whereby there was some toxic residue, but by reusing it during the process, none was released into the environment.
The study concluded this: "Soil, air, water — the studies show that all these elements of the environment are safe if exploration of shale gas is conducted in accordance with legal regulations."
There was no pollution found in the soil, water or air, said the study.
Concerns over the process of removing gas or oil from shale because of the possibility some contaminated water, which is toxic, may reach the surface, is what is being tested.
The process is called hydraulic fracturing, or fracking for short, where mostly water, and some chemicals, are used to shatter shale under the ground so the gas, or oil, can be released for use.
Extraordinary deposits of shale gas and oil in the United States has numerous countries searching within their own borders to see if there are deposits there.
In the case of Poland, the country wants to slash its dependence on Russian natural gas, which can be unreliable.
Poland is still in the process of searching for shale gas deposits, so it isn't clear yet how much actually resides in the country.
According to the report, Canadian Lane Energy performed test drills in the norther portion of Poland, whereby there was some toxic residue, but by reusing it during the process, none was released into the environment.
The study concluded this: "Soil, air, water — the studies show that all these elements of the environment are safe if exploration of shale gas is conducted in accordance with legal regulations."
There was no pollution found in the soil, water or air, said the study.
Concerns over the process of removing gas or oil from shale because of the possibility some contaminated water, which is toxic, may reach the surface, is what is being tested.
The process is called hydraulic fracturing, or fracking for short, where mostly water, and some chemicals, are used to shatter shale under the ground so the gas, or oil, can be released for use.
Extraordinary deposits of shale gas and oil in the United States has numerous countries searching within their own borders to see if there are deposits there.
In the case of Poland, the country wants to slash its dependence on Russian natural gas, which can be unreliable.
Poland is still in the process of searching for shale gas deposits, so it isn't clear yet how much actually resides in the country.
Hecla (HL) (PAAS) (SSRI) (SLW) (SVM) Down on Falling Silver Prices
Hecla Mining (HL), Pan American Silver Corp. (PAAS), Silver Standard Resources Inc. (SSRI), Silver Wheaton (SLW) and Silvercorp Metals (SVM) are all trading down today as silver price remain under pressure in light of the probability there will be no more quantitative easing in the near term.
Silver was priced at $34.785, down $0.38 or 2.32 percent, as of 1:00 PM EST.
Federal Reserve chairman Ben Bernanke made no mention of it in a recent speech, prompting investors to flee the sector. Gold prices have also been falling in response.
Other concerns on the industrial side of silver is the ongoing weakness of the global economy, especially uncertainty over the strength and sustainability of the Chinese economy.
Also pushing silver and gold prices down is the temporary strength of the U.S. dollar, which is strong against most major currencies today.
Pan American Silver was trading at $24.70, down $0.55, or 2.19 percent, as of 12:56 PM Est. Hecla Mining was at $4.97, falling $0.08, or 1.58 percent. Silver Standard Resources was trading at $16.74, declining $0.40, or 2.33 percent. Silvercorp Metals was at $7.22, down $0.14, or 1.83 percent. Silver Wheaton was plunging to $37.39, dropping $1.39, or 3.59 percent.
Silver was priced at $34.785, down $0.38 or 2.32 percent, as of 1:00 PM EST.
Federal Reserve chairman Ben Bernanke made no mention of it in a recent speech, prompting investors to flee the sector. Gold prices have also been falling in response.
Other concerns on the industrial side of silver is the ongoing weakness of the global economy, especially uncertainty over the strength and sustainability of the Chinese economy.
Also pushing silver and gold prices down is the temporary strength of the U.S. dollar, which is strong against most major currencies today.
Pan American Silver was trading at $24.70, down $0.55, or 2.19 percent, as of 12:56 PM Est. Hecla Mining was at $4.97, falling $0.08, or 1.58 percent. Silver Standard Resources was trading at $16.74, declining $0.40, or 2.33 percent. Silvercorp Metals was at $7.22, down $0.14, or 1.83 percent. Silver Wheaton was plunging to $37.39, dropping $1.39, or 3.59 percent.
Echelon (ELON) (AIXG) (ANN) (BC) (SPLS) (TSS) (UNM) Ratings, Price Targets
Echelon Co. (ELON), Aixtron AG (AIXG), AnnTaylor Stores Corp. (ANN), Brunswick Co. (BC), Staples, Inc. (SPLS), Total System Services, Inc. (TSS) and Unum Group (UNM) had ratings and price targets adjusted on them by analysts.
Piper Jaffray upgraded Echelon Co. (ELON) from a "Neutral" rating to an "Overweight" rating.
Citigroup (C) upgraded Aixtron AG (AIXG) from a "Sell" rating to a "Neutral" rating.
SunTrust upgraded AnnTaylor Stores Corp. (ANN) from a "Neutral" rating to a "Buy" rating.
Raymond James upgraded Brunswick Co. (BC) from a "Market Perform" rating to a "Strong-Buy" rating.
Caris & Co. upgraded Staples, Inc. (SPLS) from an "Average Above" rating to an "Average" rating.
Susquehanna upgraded Total System Services, Inc. (TSS) from a "Neutral" rating to a "Positive" rating.
RBC Capital upgraded Unum Group (UNM) from a "Sector Perform" rating to a "Outperform" rating.
Piper Jaffray upgraded Echelon Co. (ELON) from a "Neutral" rating to an "Overweight" rating.
Citigroup (C) upgraded Aixtron AG (AIXG) from a "Sell" rating to a "Neutral" rating.
SunTrust upgraded AnnTaylor Stores Corp. (ANN) from a "Neutral" rating to a "Buy" rating.
Raymond James upgraded Brunswick Co. (BC) from a "Market Perform" rating to a "Strong-Buy" rating.
Caris & Co. upgraded Staples, Inc. (SPLS) from an "Average Above" rating to an "Average" rating.
Susquehanna upgraded Total System Services, Inc. (TSS) from a "Neutral" rating to a "Positive" rating.
RBC Capital upgraded Unum Group (UNM) from a "Sector Perform" rating to a "Outperform" rating.
CRH (CRH) (FOSL) (GEF) (ITT) (JBHT) (KCP) (KPLUF) Ratings, Price Targets
CRH PLC (CRH), Fossil (FOSL), Greif (GEF), ITT Industries (ITT), J.B. Hunt Transport Services, Inc. (JBHT), Kenneth Cole Productions (KCP) and K PLUS S AG (KPLUF) had ratings and price targets adjusted on them by analysts.
Sanford C. Bernstein downgraded CRH PLC (CRH) from an "Outperform" rating to a "Market Perform" rating.
Citigroup downgraded Fossil (FOSL) from a "Buy" rating to a "Neutral" rating.
Deutsche Bank downgraded Greif (GEF) "Buy" rating to a "Hold" rating.
Janney Montgomery Scott downgraded ITT Industries (ITT) from a "Buy" rating to a "Neutral" rating.
KeyBanc downgraded J.B. Hunt Transport Services, Inc. (JBHT) "Buy" rating to a "Hold" rating.
Sterne Agee downgraded Kenneth Cole Productions (KCP) from a "Buy" rating to a "Neutral" rating.
Societe Generale downgraded K PLUS S AG (KPLUF) "Buy" rating to a "Hold" rating.
Sanford C. Bernstein downgraded CRH PLC (CRH) from an "Outperform" rating to a "Market Perform" rating.
Citigroup downgraded Fossil (FOSL) from a "Buy" rating to a "Neutral" rating.
Deutsche Bank downgraded Greif (GEF) "Buy" rating to a "Hold" rating.
Janney Montgomery Scott downgraded ITT Industries (ITT) from a "Buy" rating to a "Neutral" rating.
KeyBanc downgraded J.B. Hunt Transport Services, Inc. (JBHT) "Buy" rating to a "Hold" rating.
Sterne Agee downgraded Kenneth Cole Productions (KCP) from a "Buy" rating to a "Neutral" rating.
Societe Generale downgraded K PLUS S AG (KPLUF) "Buy" rating to a "Hold" rating.
Brazil Selling 700,000 MT Corn to Domestic Market
The government of Brazil announced Friday it was going to sell as much as 700,000 metric tons of corn stock in its domestic market in response to the draught that has hit the southern states of the nation.
States targeted via auctions are Santa Catarina and Rio Grande do Sul,
where a sell of up to 500,000 metric tons of corn will be initiated.
The Brazilian Agriculture Ministry said this: "The measures are a way for the government to supply the market's shortage of the product and help the sector, which faces difficulty due to the smaller crop caused by weather factors,"
Other states in Brazil targets from corn sales are Minas Gerais, Rio de Janeiro and Espirito Santo. Corn sales are focused on those looking to acquire feed for the various meat industries.
The other 200,00 metric tons of corn is slated to be sold directly to Rio Grande do Sul and Santa Catarina, which have been hit the hardest by the drought. There the fixed price will be $12.18 for each 60-kilogram bag of corn feed.
Included in the fixed price sale will be agricultural cooperatives, along with buyers of feed for meat producers.
Corn farmers in the U.S. could boost production by 15 percent over 2011 as a result of the drought in Brazil and in Argentina. Corn exports in the U.S. are expected to rise in response to the lower supply in the region.
States targeted via auctions are Santa Catarina and Rio Grande do Sul,
where a sell of up to 500,000 metric tons of corn will be initiated.
The Brazilian Agriculture Ministry said this: "The measures are a way for the government to supply the market's shortage of the product and help the sector, which faces difficulty due to the smaller crop caused by weather factors,"
Other states in Brazil targets from corn sales are Minas Gerais, Rio de Janeiro and Espirito Santo. Corn sales are focused on those looking to acquire feed for the various meat industries.
The other 200,00 metric tons of corn is slated to be sold directly to Rio Grande do Sul and Santa Catarina, which have been hit the hardest by the drought. There the fixed price will be $12.18 for each 60-kilogram bag of corn feed.
Included in the fixed price sale will be agricultural cooperatives, along with buyers of feed for meat producers.
Corn farmers in the U.S. could boost production by 15 percent over 2011 as a result of the drought in Brazil and in Argentina. Corn exports in the U.S. are expected to rise in response to the lower supply in the region.
Hecla (HL) (AWK) (CWT) (RY) (HTLF) (CMA) (NWSA) Ratings, Price Targets
Hecla Mining (HL), American Water Works (AWK), California Water Service Group (CWT), RBC Capital (RY), Heartland Financial USA, Inc. (HTLF), Comerica (CMA) and News Corp. (NWSA) had ratings and price targets adjusted on them by analysts.
Scotia Capital initiated coverage on Hecla Mining (HL). They placed a "Sector Perform" rating and price target of $6.50 on the company.
Robert W. Baird downgraded American Water Works (AWK) from an "Outperform" rating to a "Neutral" rating.
Janney Montgomery Scott downgraded California Water Service Group (CWT) from a "Buy" rating to a "Neutral" rating.
TD Securities downgraded RBC Capital (RY) from a "Buy" rating to a "Hold" rating.
Guggenheim upgraded Heartland Financial USA, Inc. (HTLF) from a "Neutral" rating to a "Buy" rating.
Raymond James downgraded Comerica (CMA) from an "Outperform" rating to a "Market Perform" rating.
RBC Capital downgraded News Corp. (NWSA) from a "Top Pick" rating to an "Outperform" rating.
Scotia Capital initiated coverage on Hecla Mining (HL). They placed a "Sector Perform" rating and price target of $6.50 on the company.
Robert W. Baird downgraded American Water Works (AWK) from an "Outperform" rating to a "Neutral" rating.
Janney Montgomery Scott downgraded California Water Service Group (CWT) from a "Buy" rating to a "Neutral" rating.
TD Securities downgraded RBC Capital (RY) from a "Buy" rating to a "Hold" rating.
Guggenheim upgraded Heartland Financial USA, Inc. (HTLF) from a "Neutral" rating to a "Buy" rating.
Raymond James downgraded Comerica (CMA) from an "Outperform" rating to a "Market Perform" rating.
RBC Capital downgraded News Corp. (NWSA) from a "Top Pick" rating to an "Outperform" rating.
Thursday, March 1, 2012
Silver, Gold Jump After Big Selloff
A day after silver and gold were hammered, the two precious metals rebounded after investors took advantage to get in at a good price.
Silver and gold prices have been soaring, and were due for a correction.
Silver for May delivery climbed $1.02, or 2.9 percent, to $35.66 an ounce. Gold for April delivery rose $10.90, or 0.6 percent, to end the session at $1,722,20 an ounce on the Comex division of the New York Mercantile Exchange.
Neither the long-term outlook for silver or gold has changed, and the upward price momentum, over time, will continue.
Other metals were also up today, including May copper, which was up 5 cents, or 1.4 percent, to $3.92 a pound.
April platinum rose $8.50, or 0.5 percent, to $1,701.10 an ounce. Palladium for June delivery jumped $8.35, or 1.2 percent, to $715 an ounce.
Silver Wheaton closed at $38.80, gaining $0.43, or 1.12 percent. First Majestic Silver closed at $20.80, jumping $0.34, or 1.66 percent. Silvercorp Metals closed at $7.36, up $0.01, or 0.14 percent.
Silver and gold prices have been soaring, and were due for a correction.
Silver for May delivery climbed $1.02, or 2.9 percent, to $35.66 an ounce. Gold for April delivery rose $10.90, or 0.6 percent, to end the session at $1,722,20 an ounce on the Comex division of the New York Mercantile Exchange.
Neither the long-term outlook for silver or gold has changed, and the upward price momentum, over time, will continue.
Other metals were also up today, including May copper, which was up 5 cents, or 1.4 percent, to $3.92 a pound.
April platinum rose $8.50, or 0.5 percent, to $1,701.10 an ounce. Palladium for June delivery jumped $8.35, or 1.2 percent, to $715 an ounce.
Silver Wheaton closed at $38.80, gaining $0.43, or 1.12 percent. First Majestic Silver closed at $20.80, jumping $0.34, or 1.66 percent. Silvercorp Metals closed at $7.36, up $0.01, or 0.14 percent.
Top Corn, Soybean Producing Counties in Illinois
According to data released by the U.S. Department of Agriculture, the top corn and soybean producing counties in America are located in Illinois.
Iowa of course remains the top corn and soybean producing state in the United States.
As for corn production, La Salle County was the leading producer, with 60.166 million bushels harvested in 2011. For soybeans, McLean County, in Illinois was the top producer with 14.374 million bushels harvested.
The two counties are the largest in Illinois, helping to boost corn and soybean production, but cooperative weather in the area for 2011 was also a big factor in the good harvest.
Other Illinois counties outperformed the two larger counties on average, with Woodford County have an average yield of 186.5 bushels of corn an acre against La Salle County’s 177.3 bushels an acre., and Knox County produced 61.2 bushels of soybeans an acre against McLean’s 55.4 bushel average.
Iowa of course remains the top corn and soybean producing state in the United States.
As for corn production, La Salle County was the leading producer, with 60.166 million bushels harvested in 2011. For soybeans, McLean County, in Illinois was the top producer with 14.374 million bushels harvested.
The two counties are the largest in Illinois, helping to boost corn and soybean production, but cooperative weather in the area for 2011 was also a big factor in the good harvest.
Other Illinois counties outperformed the two larger counties on average, with Woodford County have an average yield of 186.5 bushels of corn an acre against La Salle County’s 177.3 bushels an acre., and Knox County produced 61.2 bushels of soybeans an acre against McLean’s 55.4 bushel average.
Corn Exports Up 5 Percent
Corn exports are up 5 percent from last week, according to the most recent U.S. Export report from the USDA. They are also up 2 percent from the four-week average.
Corn exports rose to 818,100 MT over last week. Leading importers of U.S. corn were Japan (341,900 MT), Mexico (279,500 MT), South Korea (89,800 MT), Cuba (26,100 MT), Venezuela (22,000 MT), and Colombia (20,700 MT).
Corn futures opened down 2 cents as the market takes a breather after the February run up in prices.
Corn exports rose to 818,100 MT over last week. Leading importers of U.S. corn were Japan (341,900 MT), Mexico (279,500 MT), South Korea (89,800 MT), Cuba (26,100 MT), Venezuela (22,000 MT), and Colombia (20,700 MT).
Corn futures opened down 2 cents as the market takes a breather after the February run up in prices.
Copano (CPNO) (SD) (CRZO) (LINE) (URZ) (BLK) (WAG) Ratings, Price Targets
Copano Energy, L.L.C. (CPNO), SandRidge Energy Inc. (SD), Carrizo Oil & Gas (CRZO), Linn Energy, LLC (LINE), Uranerz Energy (URZ), BlackRock, Inc. (BLK) and Walgreen (WAG) had ratings and price targets on them adjusted by analysts.
Hilliard Lyons downgraded Copano Energy, L.L.C. (CPNO) from a "Buy" rating to a "Long" rating. They raised their price target from $35.00 to $40.00 on the company.
Canaccord Genuity downgraded SandRidge Energy Inc. (SD) from a "Hold" rating to a "Sell" rating. They lowered their price target from $7.00 to $6.00 on the company.
Capital One upgraded Carrizo Oil & Gas (CRZO) to a "Neutral" rating.
Credit Suisse upgraded Linn Energy, LLC (LINE) from a "Neutral" rating to an "Outperform" rating.
Global Hunter Securities initiated coverage on Uranerz Energy (URZ). They have an "Accumulate" rating and price target of $4.00 on the company.
Sanford C. Bernstein initiated coverage on BlackRock, Inc. (BLK). They placed a "Market Perform" rating on the company.
Bank of America downgraded Walgreen (WAG) from a "Neutral" rating to an "Underperform" rating.
Hilliard Lyons downgraded Copano Energy, L.L.C. (CPNO) from a "Buy" rating to a "Long" rating. They raised their price target from $35.00 to $40.00 on the company.
Canaccord Genuity downgraded SandRidge Energy Inc. (SD) from a "Hold" rating to a "Sell" rating. They lowered their price target from $7.00 to $6.00 on the company.
Capital One upgraded Carrizo Oil & Gas (CRZO) to a "Neutral" rating.
Credit Suisse upgraded Linn Energy, LLC (LINE) from a "Neutral" rating to an "Outperform" rating.
Global Hunter Securities initiated coverage on Uranerz Energy (URZ). They have an "Accumulate" rating and price target of $4.00 on the company.
Sanford C. Bernstein initiated coverage on BlackRock, Inc. (BLK). They placed a "Market Perform" rating on the company.
Bank of America downgraded Walgreen (WAG) from a "Neutral" rating to an "Underperform" rating.
SunPower (SPWR) (ATW) (DNR) (OXF) (WAFD) (SON) (TROW) Ratings, Price Targets
SunPower (SPWR), Atwood Oceanics, Inc. (ATW), Denbury Resources Inc. (DNR), Oxford Resource Partners (OXF), Washington Federal Inc. (WAFD), Sonoco Products (SON) and T. Rowe Price (TROW) had ratings and price targets on them adjusted by analysts.
Brigantine initiated coverage on SunPower (SPWR). They placed a "Neutral" rating on the company.
Dahlman Rose upgraded Atwood Oceanics, Inc. (ATW) from a "Hold" rating to a "Buy" rating. They placed a price target of $58.00 on the company.
Sterne Agee upgraded Denbury Resources Inc. (DNR) from a "Sell" rating to a "Neutral" rating.
BB&T downgraded Oxford Resource Partners (OXF) from a "Hold" rating to a "Underweight" rating.
Sterne Agee downgraded Washington Federal Inc. (WAFD) from a "Buy" rating to a "Neutral" rating.
Robert W. Baird upgraded Sonoco Products (SON) from a "Neutral" rating to an "Outperform" rating. They boosted their price from $34.00 to $38.00 on the company.
Sanford C. Bernstein initiated coverage on T. Rowe Price (TROW). They have a "Market Perform" rating on the company.
Brigantine initiated coverage on SunPower (SPWR). They placed a "Neutral" rating on the company.
Dahlman Rose upgraded Atwood Oceanics, Inc. (ATW) from a "Hold" rating to a "Buy" rating. They placed a price target of $58.00 on the company.
Sterne Agee upgraded Denbury Resources Inc. (DNR) from a "Sell" rating to a "Neutral" rating.
BB&T downgraded Oxford Resource Partners (OXF) from a "Hold" rating to a "Underweight" rating.
Sterne Agee downgraded Washington Federal Inc. (WAFD) from a "Buy" rating to a "Neutral" rating.
Robert W. Baird upgraded Sonoco Products (SON) from a "Neutral" rating to an "Outperform" rating. They boosted their price from $34.00 to $38.00 on the company.
Sanford C. Bernstein initiated coverage on T. Rowe Price (TROW). They have a "Market Perform" rating on the company.
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