CHANGE IN RATINGS
Arrow Electronics (ARW Quote) coverage initiated at Goldman with a Buy rating based on improving components distribution. Note attractive valuation and potential upside to conservative earnings guidance. Price target at $30. Avnet (AVT Quote) coverage initiated at Goldman Sachs with a Neutral rating. Expect company to benefit from components recovery, but see greater upside potential in ARW. Price target at $26. Continental Airlines (CAL Quote) upgraded at JPMorgan to Overweight from Neutral based on relative weakness. Shares are down 33% since April 21, much more than other airlines. Believe washed out sentiment led to over-correction. Maintained $13 target.
STOCK COMMENTS / EPS CHANGES
American Express (AXP Quote) price target higher at Goldman, raised to $28 from $26. Company is raising $500 million, which is less than originally expected and will result in only 2% share dilution. Maintained Neutral rating.- Loading Comments...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
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| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
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