Stocks expected to move significantly in trading on Wednesday include AutoZone, Big Lots, Borders, Chicoâ??s FAS, Cree, GM, PNC, Staples, SumTotal and Take-Two.
Another choppy, mixed day ahead of the FED. Experts are calling for 0.25 BP cut and a statement discussing potential pause. I don't expect markets to rally on that news, but we'll soon see.
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Advanta Corp ADVNB Friedman Billings Mkt Perform » Outperform AGCO Corp AG Bear Stearns Peer Perform » Outperform Anadarko Petro APC BMO Capital Markets Underperform » Market Perform Apogee Enterpr APOG Matrix Research Hold » Buy Apple AAPL Citigroup Hold » Buy Apria Healthcare AHG Oppenheimer Sell » Neutral Arch Chemicals ARJ Wedbush Morgan Buy » Strong Buy LodgeNet LNET CL King Strong Buy » Accumulate SumTotal SUMT Wedbush Morgan Buy » Hold Otter Tail Power OTTR DA Davidson Underperform » Neutral Scotts Miracle-Gro SMG CL King Neutral » Strong Buy Arch Chemicals ARJ Wedbush Morgan Buy » Strong Buy Activision ATVI Janco Partners Mkt Perform » Accumulate Vistaprint VPRT Longbow Neutral » Buy Capital Corp. of the West CCOW FTN Midwest Neutral » Buy Hutchinson HTCH WR Hambrecht Hold » Buy Hutchinson HTCH Needham & Co Hold » Buy Silicon Motion SIMO Needham & Co Buy » Strong Buy Suncom Wireless TPC Stanford Research Hold » Buy Westlake Chemical WLK Lehman Brothers Equal-weight » Overweight
DOWNGRADES
AC Moore ACMR Credit Suisse Outperform » Neutral Amgen AMGN William Blair Outperform » Mkt Perform Community Health CYH Citigroup Buy » Hold RRSAT Global RRST CE Unterberg Towbin Buy » Market Perform ON Semiconductor ONNN CE Unterberg Towbin Buy » Market Perform Summit State Bank SSBI DA Davidson Buy » Neutral Crystal River Captial CRZ AG Edwards Buy » Hold STATS ChipPAC STTS Lehman Brothers Overweight » Equal-weight LodgeNet LNET CL King Strong Buy » Accumulate SumTotal SUMT Wedbush Morgan Buy » Hold Buffalo Wild Wings BWLD Dougherty & Company Buy » Neutral
MOST NOTEWORTHY: TDK Corp. (TDK), Maquire Properties (MPG), BankAtlantic Bancorp (BBX), ON Semiconductor (ONNN) and Amgen (AMGN) were today's noteworthy downgrades:
UBS downgraded TDK Corp. (NYSE: TDK) to Reduce from Neutral after the company's operating profit missed estimates.
Deutsche Bank cut Maguire Properties (NYSE: MPG) to Sell from Hold following the company's disappointing Q2 report.
Sandler cut BankAtlantic Bancorp (NYSE: BBX) to Sell from Hold on valuation.
Valuation and debt levels pushed Unterberg to downgrade ON Semiconductor (NASDAQ: ONNN) to Market Perform from Buy.
William Blair downgraded shares of Amgen (NASDAQ: AMGN) to Market Perform from Outperform as they believe the CMS decision on ESA reimbursement guidelines is extremely restrictive regarding Aranesp use in oncology...
OTHER DOWNGRADES:
Lyondell Chemical Co (NYSE: LYO) was downgraded to Equal Weight from Overweight.
UBS cut FMC Technologies (NYSE: FTI) to Reduce from Neutral.
Stanford downgraded MoSys (NASDAQ: MOSY) to Hold from Buy.
Brean Murray downgraded SumTotal Systems (NASDAQ: SUMT) to Hold from Buy.
Buckingham cut Cephalon (NASDAQ: CEPH) to Accumulate from Strong Buy.
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