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  • Eelmisel kuul alandas Target (TGT) oma SSS prognoose. Samuti näitavad tarbija "tugevust" eilsed CC ja tänased Liz Clairborne (LIZ) tulemused.

    Prudential downgrades Sprint (S 20.03) to Underweight from Neutral and cuts their tgt to $16 from $17 saying they believe Sprint's company-specific problems will likely continue and cause S shares to remain underperformers

    Credit Suisse upgrades Research In Motion Limited (RIMM 131.58) to Neutral from Underperform and raises their tgt to $145 from $100 saying they expect RIMM to continue to benefit from rapid smartphone market growth and improving international traction. However, they believe an increasing presence in the consumer market will continue to pressure device margins

    UBS downgrades AMR (AMR 26.09), US Airways (LCC 36.94), and UAL (UAUA 33.40) and to Reduce from Buy

    Montgomery initiates SiRF Technology (SIRF 24.26) with a Buy and sets a $32 tgt, based on new growth opportunities within the PND segment and introduction of new end-markets and believe the co is well positioned as the market leader to capture a significant portion of the market's growth
  • Watch the Small-Caps in Today's Action

    By Rev Shark
    RealMoney.com Contributor

    5/1/2007 8:13 AM EDT
    Click here for more stories by Rev Shark


    "Danger can only be overcome by more danger."

    -- Greek Proverb

    Late yesterday afternoon, for the first time in quite a while, the market suffered a fairly healthy dose of profit taking. Small-caps and oils led the tumble but it was broad-based and only a few big caps escaped the storm.

    Given the steady manner in which the market has risen in recent weeks, it isn't surprising that we experienced a sharp bout of selling. There are some hefty recent gains to protect and the first sign of selling tends to spark a rush for the exits so they don't slip away. The folks who play the momentum game on the upside are keenly aware that it also works in reverse and don't want to be left holding the bag, so they are quick to sell at the first sign of problems.

    Now what? Was that just a brief selling squall that will be quickly forgotten as buyers jump back in to take advantage of lower prices? Perhaps, but given the degree to which the market has risen recently risen, a deeper correction would certainly not come as a big surprise. On the other hand, momentum has been so strong and so many folks have not had the opportunity to buy weakness that the interest in buying a dip is likely quite high.

    So do we hold on and wait out the weakness, or do we take some defensive action in anticipation of further selling?

    The key is to watch how the market acts on a bounce. Does strength get hit with more selling or does it force the folks on the sidelines to start worrying that they once again will miss out on a buying opportunity? For months now the smart move has been to buy weakness, and until that changes, taking defensive action by selling on a dip creates the danger of being left on the sidelines.

    An additional complication is the two-tier nature of the market. This can be seen clearly in the impact of yesterday's selling. The dip wiped out all gains in the small-caps as represented by the iShares Russell 2000 (IWM) back to April 12, while the DJ-30 only gave back two days of profits and is still substantially above where it was on April 12.

    Not only do we have to watch to see how the market reacts to this dip but we need to watch how the big-caps act compared to the small-caps. The big-caps have been driving us with good earnings reports, and with earnings season winding down it will be tough for them to continue their relative outperformance.

    We have a bounce shaping up in the early going, which will be a particularly good test of the buyers' resolve. Economic reports due out at 10 a.m. EDT will be an important driver today but we still have some earnings news from PG and an ugly warning from CC to consider. Overseas markets were mostly soft in light holiday trading. Gold is down and oil steady.

  • Briefing - tulemused suuresti selja taga ning turg hakkab vaatama rohkem majandusnaitajaid. Seni on olnud Briefingu meeskond optimistlik, praegu aga pisut ettevaatlikum juba.

    The market is now looking past first quarter earnings. The focus will shift to the economic numbers. They may not be particularly good. There are indications that April was a poor retail month. Manufacturing is in a rut. And employment gains may slow. (The April ISM manufacturing survey will be out at 10:00 ET and the payroll data on Friday.)
    /-/
    The earnings outlook is also poor. Second quarter growth estimates are near 5% and third quarter 2%. Those may drop even further if economic growth remains sluggish. We will be watching for a shift in underlying sentiment to a more neutral and cautious stance from the recent optimism fueled by the reasonably good first quarter earnings numbers.

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