We are an hour and a half into the session and find the broad market indices posting mild-to-moderate gains...
The S&P 500 (SPX), Dow Jones Industrial Average (DJIA), and Russell 2000 (RUT) are fairly subdued while the Nasdaq Composite (COMP) jumps nearly a percent and a half. A look to the sector action suggests that semis are helping the Nasdaq Composite (COMP) as well the Nasdaq-100 Trust (QQQQ).
The Semiconductor HOLDRS (SMH) is up more than 2% and tied for the lead with the SPDR Homebuilders (XHB), S&P Retail Index (RLX), Regional Bank HOLDRS (RKH), and Broker/Dealer Index (XBD).
Commodity corner is decidedly weak with the US Oil Fund (USO), Oil Service HOLDRS (OIH), Amex Gold Bugs Index (HUI), and streetTRACKS Gold (GLD) all losing 3%.
Here are a few of the analyst upgrades and downgrades that I thought were worth noting this morning...
Upgrades
- Colgate-Palmolive (CL)
- Kinross Gold (KGC)
- O2Micro (OIIM) [multiple]
Downgrades
- BP (BP)
- First Solar (FSLR)
- Garmin (GRMN)
- Gold Reserve (GRZ) [multiple]
- Hovnanian Entrpr (HOV)
- IRobot (IRBT)
- JDS Uniphase (JDSU)
- Las Vegas Sands (LVS)
- Micros Systems (MCRS)
- Take-Two (TTWO)
- YUM! Brands (YUM)
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