STRATEGY CALLS / MARKET CALLS
Auto sector upgraded at Goldman to Attractive as they expect sales trends to improve due to increased consumer confidence, expanding consumer credit, rising affordability, and the new scrappage legislation. Favorites in the sector are Ford and ArvinMeritor. U.S. refiners downgraded at Goldman to Cautious as they have lagged in performance this year. The outlook is not attractive either as the summer driving season is half over, gasoline inventories are rising, new refineries are ramping up in Asia, and lower than expected valuation. Sunoco and Tesoro were both downgraded to a Sell rating while Marathon Oil was upgraded to Neutral from Sell. Marathon's (MRO) Garyville major refinery expansion is on track to start up in the fall -- Target price was reiterated at $38. Sunoco (SUN) target was lowered to $20 from $35. Tesoro (TSO) target was lowered to $12 from $18. Valero (VLO) target was lowered to $13 from $18. Frontier Oil (FTO) target was lowered to $14 from $20. Holly (HOC) target lowered to $19 from $30.TheStreet Premium Services
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,393.45 | 1,310.33 | 2,827.34 | 15.81 |
Oil *
101.78
|
|
DOWN
26.41 |
DOWN
2.99 |
DOWN
10.02 |
DOWN
0.44 |
10 Yr
1.58%
SPDR Gold
151.62
|
|
-0.21%
|
-0.23%
|
-0.35%
|
-2.71%
|
Data delayed 20 minutes |
Connect with TheStreet