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From the Blogosphere
Unusual 11 Mid-Day Movers 7/10: DAN, ANTP, PRAN, APWR Higher; CIT, PSMT, SGR, SUSQ Lower
Dana (NYSE: DAN) <font>32.8% HIGHER;</font> Barclays upgrades the stock from Equalweight to Overweight. Click here for the full report.CIT Group (NYSE: CIT) <font>24.5% LOWER;</font> sinking on fears that the FDIC will not guarantee the company's bond auction. CIT has responded, confirming that its application to participate in the TLGP remains outstanding. Despite the statement, shares of CIT are still down very sharply.PHAZAR CORP (Nasdaq: ANTP) <font>25.1% HIGHER;</font> announced today that Antenna Products Corp., a wholly owned subsidiary, has been awarded an Indefinite Delivery, Indef...
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Notable Analyst Rating Changes 7/10: DELL, WFR, DRYS, DAN, NYX Upgraded; IBM, QGEN, TSON, FC Downgraded
StreetInsider.com Notable Analyst Rating Changes:UPGRADES:Goldman Sachs upgrades Dell (Nasdaq: DELL) from Neutral to Buy and added the stock to their Conviction Buy List. Citi upgrades MEMC Electronic Materials (NYSE: WFR) from Hold to Buy. Click here for the full report.Cantor Fitzgerald upgrades DryShips Inc (Nasdaq: DRYS) from Sell to Hold and reinstates a price target of $6. The firm said while they still have concerns, they believe that shares are fairly valued at current levels. Barclays upgrades Dana (NYSE: DAN) from Equalweight to Overweight. Click here to see more color on the upgr...
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Lear (LEA) Prepares to File for Bankruptcy
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As we said a month ago in [Jun 4, 2009: Detroit's Woes Wound an Army of Suppliers]
<>I think many people do not understand the daisy chain that is the automotive industry - there are countless suppliers of various size. They have been in a "right sizing" for a decade now, decimating the ranks (we've lost about half of them as we offshore) but there are still literally thousands out there. Lost in the "headline news" of the week (green shoots mind you) was the bankruptcy of Visteon (yes last week) - which was spun off of Ford much like Delphi (in bankruptcy since 2005) was spun off of General >...
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Guess the Federal Bailout, Win Money - Today's Sector: Auto Supplier Lear (LEA) +50% and Dana (DAN) +20%
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It appears we are back to 2008 type trading; guess what the government is going to bailout next, and place your bets. The only irony in watching these stocks soar is knowing people in the supplier industry and these companies themselves and realizing what shape they are in, while their stocks surge. As we said last week, [Jun 4, 2009: Detroit's Woes Wound an Army of Suppliers] there will be a lot of fallout in the multi thousand supplier base but as with banks, it appears the government will protect the largest. And this is exactly the type of information having a bevy of friends from Go...
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