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.
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) and General Dynamics (GD): 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): Cut to a hold at Citigroup (C). Juniper Networks (JNPR): Downgraded to neutral at UBS (UBS).
Fast Movers to Watch:Google (GOOG), Priceline (PCLN), Baidu (BIDU) and Amazon (AMZN): 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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