Deutsche Bank downgraded Citi (NYSE: C) from Buy to Hold with a price target of $56.00 (from $61.00). Morgan Stanley (NYSE: MS) was downgraded from Buy to Hold with a price target of $30 (from $31). The change relates to the impact of Fed Taper and the end of QE.
"Given our bias for some dislocation in credit markets near term, further meaningful upside in bank stocks seems less likely. As a result, we are getting more defensive for now," said analyst Matt O'Connor.
"In the near term, the impact to markets and bank stocks is hard to predict and will likely be very dependent on macro data and the outlook for corporate earnings. On the one hand, if economic growth accelerates to the 3% consensus level in 2014 (from ~2% in 2013), additional P/E multiple expansion for banks (and the overall market) seems likely given rates remain low on an absolute basis, inflation is low and P/E multiples aren't stretched (although are in line with historical levels). On the other hand, we worry about the potential combination of widening of credit spreads and rising interest rates; and the impact these may have on cost of funding, certain industries that are rate sensitive (like housing, FICC trading) and certain emerging markets," he added.
2 down grades. Should sell off to $48 or less
Amazon, the world's largest Internet retailer, was among the strongest on Cyber Monday and through the five-day period that started with Thanksgiving.
ChannelAdvisor clients saw Amazon sales jump 46% on Cyber Monday and 35% through the "Cyber Five" period from Thanksgiving through Monday.
Shorts are going to run over by the Amzn Mack truck tomorrow. Back over $450
This year's Cyber Monday capped the highest five-day online sales period on record, according to IBM. From Thanksgiving Day through Cyber Monday online sales climbed 16.5% percent over the same period in 2012. Mobile devices accounted for more than 17% of Cyber Monday sales, up 55% from last year.
Cyber Monday sales rose 16% to a record $2.29 billion, according to Adobe Systems, which tracks activity on roughly 2,000 U.S. retail websites. IBM's Digital Analytics Benchmark, which tracks transactions from about 800 retail sites, put the sales increase at almost 21% compared to a year earlier.
Shorts will fried like the rats they our...Have fun shorts begin roasted
porchoggie75 just a moron troll.. Put on ignore. What a A.S.S.....H.O.L.E......
It's been rumored for what seems like forever, but now new evidence points to an imminent Apple (NASDAQ: AAPL) iPhone deal with China Mobile (NYSE: CHL).
A webpage from China Mobile subsidiary, Suzhou, shows pre-orders being taken for Apple's Phone 5s and iPhone 5c. This webpage has since been taking down, but not before being grabbed and passed around online.
No way to sugar-coat this: Fresh off its impressive turnaround, Krispy Kreme's (KKD) growth is slowing.
Sales last quarter budged ahead 6.7%, down from 8.5% the year before and even higher in the interim quarters.
The bigger issue was same-store sales. The company warned a quarter ago that they would be "less dramatic" against "our outstanding comp performance last year."
And they were, but with a twist: Same-store sales at company-owned locations (mostly in the U.S.) rose a mere 3.7% -- quite a come down from the prior quarter's 11.4% gain and the prior year's 7%.
At the same time, domestic franchise same-store sales growth, which had been running on par with company stores, remained fairly robust at 10.7%.
Why the discrepancy between company-owned and franchise stores in the U.S.?
When asked, the company offered up a number of vague explanations, including "outstanding" execution by franchises. But it really boils down to two things the company has blamed in recent years for slowdowns outside of the U.S.:
Cannibalization and something it calls the "honeymoon effect." That is, after stores have big openings, things calm down. That's what Krispy Kreme says happened last quarter in Charlotte.
Then there was the quality of same-stores sales, which left something to be desired: At company-owned stores most of the gains came from price increases.
That's a subtle but important change. A mere quarter ago the company was crowing about how its 10% gain was "even more impressive when considering that many of our QSR peers have experienced a noticeable slowdown in comp sale and traffic over the past several months."
And back in March, at a Roth investment conference, CEO James Morgan said, "We hope to achieve low-to-mid single-digit organic comp growth gains this year, and that is exclusive of pricing."
Compare that with CFO Doug Muir's comments on yesterday's call, when he said, "We look for low-single digit, organic same store sales price in our company stores. Strategic price increases would be incremental to that."
Sentiment: Strong Sell
Your kidding right? At best this is a $10 stock, only a complete idiot would buy it here. Short all you an afford, in 3 months it will be under $10
This week... God help you shorts, on it's way to $550 by the end of Dec
A certificate that he has sold all of his shares to you the bag holders. Merry Christmas at your expense.
Insane isn't it? Amzn is the only stock I wont short, EVER. I hate it but I always buy it on the dips & ride it for $70 to $ 100 pop. I agreed way over value, at best a $60 stock.
3,4,5 ? Anyone???
Multiple sources have confirmed to The Capitol Forum that the FTC has launched a nonpublic investigation into Questcor's acquisition of the U.S. rights to Synacthen. Unlike previous investigations into non-reportable pharmaceutical transactions , which have taken two years or longer , we believe that the FTC investigation will move according to an accelerated timeline. As a result, an FTC decision, either to close its investigation or move to unwind the deal , could come within months, not years. Key points for shareholders to consider include:
Investigation . Multiple sources have confirmed that the FTC has initiated an investigation into Questcor's acquisition of the U.S. rights to Synacthen.
Political pressure. On August 1, Senator Amy Klobuchar, chair of the Senate's antitrust subcommittee , sent a letter to FTC chairwoman Edith Ramirez encouraging the Commission to investigate the deal.
Timing. Given political pressure, public/investor interest , and concern about the effects of a delay of Synacthen's entry into the U.S. market , the timeline of the FTC's investigation may be months, not years. Less