We are just over an hour into the session and find an upside bias. The broad market indices are flat to higher with the Nasdaq Composite (COMP) the strongest. The sector action shows weakness in housing, banks, retail and biotech with the rest of the pack higher. The Amex Networking Index (NWX), PowerShares Clean Energy ETF (PBW), Oil Service HOLDRS (OIH), streetTRACKS Gold (GLD) and Amex Gold Bugs Index (HUI) are the strongest sectors.
Here are a few of the analyst upgrades and downgrades that I thought were worth noting this morning...
Upgrades
- ADC Telecom (ADCT)
- AnnTaylor (ANN)
- Big Lots (BIG)
- Clean Harbors (CLHB)
- Marvell Technology Group (MRVL) [multiple]
- NASDAQ (NDAQ)
Downgrades
- Ashland (ASH)
- Costco (COST)
- Dell (DELL)
- Integrated Device (IDTI)
- J. Crew (JCG) [multiple]
- Sigma Designs (SIGM) [multiple]
Copyright Schaeffer's Investment Research http://www.schaeffersresearch.com