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TheStreet Open House Morning Playbook

We are hearing of more stock offerings from managements that understand the liquidity window will not stay open forever. Let's take a look at what's moving the market and what areas of the market you should be focused.


EMC (EMC - Get Report): Indicated lower after announcing bid for Data Domain (DDUP). This move is in reaction to Network Appliance's (NTAP - Get Report) bid for Data Dominion.

Cameron (CAM - Get Report): Opened slightly lower after announcing a takeover of Natco Group (NTG), an oil-services competitor.

Share Offerings:

Morgan Stanley (MS - Get Report), American Express (AXP - Get Report), Express Scripts (ESRX - Get Report): All three opened lower after the companies announced they would be selling shares.

Story Stocks:

Pepsi Bottling Group (PBG): Raised estimates for second-quarter and full-year 2009 EPS.

Walgreen (WAG): May same-store sales rose 1%.

Upgrades to Watch:

Lockheed Martin (LMT - Get Report) and General Dynamics (GD - Get Report): Both stocks were upgraded to outperform at Morgan Keegan.

Bucyrus (BUCY) and Joy Global (JOYG): Both stocks had their target prices raised by Barclay's (BCS).

Intuitive Surgical (ISRG): High beta play upgraded to a buy at Needham. This is going to be a stock to watch for momentum investors today.

Downgrades to Watch:

Bankrate (RATE - Get Report): Cut to a hold at Citigroup (C - Get Report).

Juniper Networks (JNPR - Get Report): Downgraded to neutral at UBS (UBS).

Fast Movers to Watch:

Google (GOOG), Priceline (PCLN - Get Report), Baidu (BIDU - Get Report) and Amazon (AMZN - Get Report): All four of these big-name tech stocks are coming off big days yesterday and will be the gauge for for any continued high-beta strength.

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WAG $81.65 2.05%
AEM $28.85 0.00%
BCS $14.73 0.00%
AMZN $370.56 0.00%
AXP $77.97 0.00%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

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