Wall Street to Main Street: News, Views and Commentary: May 12, 2006


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It can be Friday Might twelve, 2006, and It is really the last working day with the buying and selling week, and what each week it absolutely was. From Gold, Silver, Copper as well as other metals plus the Dow building historic highs to your Fed raising the benchmark desire charge to five%, it absolutely was one particular to remember. Ideally today the Bulls will appear out and set a good spin over the week immediately after yesterdays drop, it absolutely was a bloody working day within the monitor. Traders and Buyers had been pulling away from equities to go the place The cash flowed yesterday and which was Metals and Oil, let me not forget about that Crude Oil bounced over $73 as geopolitics has it on a rollercoaster experience.

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Political Entrance

China appears to be ready to Enable the Yuan carry on its upward sample, That is over the heels from the Untied States not giving them the distinction of being a currency manipulator.

Iran’s President mentioned which the region is able to resume nuclear talks Using the UN. This backwards and forwards predicament is getting its toll over the oil market as it’s place crude oil on a rollercoaster experience. So only traders on the right facet with the pattern have smiles on their faces, but this pattern modifications every day.

In Mexico, the country issued more than $one hundred sixty million of disaster bonds known as the “Mexican Bond” during the function of an earthquake, so Mexico can get a huge jolt in their funds if an earthquake ought to hit in the subsequent a few several years, if not the cash goes back again into the buyers.

Movers and Shakers

Some main movers in yesterdays investing session incorporated Koppers Holdings (NYSE: KOP) which traded up $two.fifty two to shut at $22.82, Earth Fuel Products and services (NYSE: INT) which traded up $5.01 to shut at $fifty.35, Biovail Corp (NYSE: BVF) which traded up $one.seventy four to shut at $28.twelve, Canada Southern Petroleum (NASDAQ: CSPLF) which traded up $3.02 to shut at $seven.77, Remedytemp, Inc (NASDAQ: REMX) which traded up $4.33 to shut at $sixteen.fifty three, Zoltek (NASDAQ: ZOLT) which buying and selling up $4.sixty to shut at $35.fifty nine, Talx Corp (NASDAQ: TALX) which traded up $two.44 to close at $27.ninety four and MGP Components (NASDAQ: MGPI) which traded up $2.93 to shut at $34.05.

Analyst Updates/Downgrades

The latest Analyst updates involve Bronco Drilling Co (NASDAQ: BRNC) they had been upgraded with a powerful Get from an Outperform by Raymond James, Normal Motors (NYSE: GM) was upgraded to your Invest in from the Keep by KeyBanc Cash, as we said from $19 you will notice far more analyst updates of GM from the close to long run, just go through my write-up on Normal Motors to see why we see this taking place, The Cheesecake Manufacturing unit (NASDAQ: CAKE) was upgraded to an Overweight from an Equal Weight by Lehman Brothers and Johnson & Johnson (NYSE: JNJ) was upgraded into a Purchase from a Neutral by Banc of The usa Securities.

Current Analyst downgrades include Threshold Pharmaceutical (NASDAQ: THLD) they gained a triple knock down as they have been downgraded to a Neutral from an Outperform by Cowen & Co, Sector Performer from a Sector Outperformer by CIBC Earth Marketplaces and to an Equal Body weight from an Around Weight by Morgan Stanley, and the final for this early morning is Agco (NYSE: AG) they had been downgraded to some Neutral from an Overweight by JP Morgan.

Analyst Coverage Initiations consist of Alcon (NYSE: ACL) they have been initiated which has a Purchase ranking along with a goal price of $a hundred twenty five.00 by Citigroup Investment Study, the stock closed at $a hundred and one.sixty two yesterday, Other initiations by Citigroup Investment decision Investigation include things like Allergan (NYSE: AGN) which was initiated with a Purchase ranking an a focus on cost of $118.00, stock shut at $96.04, and Innovative Professional medical Optics (NASDAQ: EYE) which was initiated with a Keep score as well as a cost concentrate on of $fifty five.

Tid Bits

Despite the fact that Yahoo (NASDAQ: YHOO) was in talks with Microsoft (NASDAQ: MSFT) for some sort of Doing work romantic relationship, it looks like Mr. Softie puffed their upper body out and needed a stake in Yahoo, but Yahoo gave them a big Extra fat NO. Just to give our two cents on this, Yahoo, as we are already indicating is a prime takeover concentrate on for Microsoft, and irrespective of whether it comes about today or in four months, it’ll come to move if both equally businesses desire to compete With all the ever-expanding Google (NASDAQ GOOG).

Greatest Acquire (NYSE: BBY) is expanding overseas as they may have agreed to obtain a vast majority stake in Jiangsu 5 Star Appliance Co., China’s fourth-premier appliance and buyer electronics retailer. When the dust settles Best Buy will keep a the greater part ownership desire in Five Star for a price tag of USĀ£180 million.

Motion picture Gallery (NASDAQ: MOVI) was in the spotlight yesterday because the inventory surged more than fifty%, investing up $1.sixty two to shut at $4.78. This arrived as being a shock when the road got wind in their earnings beating the typical analyst estimate. Earnings shot up 197% to hit $694.four million and earnings per share rose to $1.27 from a $0.58 for a similar interval a year previously. So to state that the majority analyst ended up remaining with their jaws hanging is definitely an understatement because they ended up looking at 15 cents a share depending on $644 million in profits. This advancement in mainly because of their acquisition of BlockBuster’s (NYSE: BBI) other rival Hollywood Leisure. But in order to lose some light-weight on your situation, unless Motion picture Gallery dives head first into the electronic age these good figures might not final. But Movie Gallery does get an A Furthermore for shock aspect.

Retail giants JC Penney (NYSE: JCP) and KOHL’s (NYSE: KSS) noted double-digit gains for the very first quarter beating the average analyst estimates. They even gave an honest outlook for that yr although not adequate for analyst. Each shares traded down yesterday and that would be partially due to the marketplace problem that we were in yesterday. Both of those of those companies are in a very good placement to make new highs in 2006 and the moment buyers notice this they will bounce in head very first.


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