Friday, July 10, 2009

Two hours into the day

AlphaNinja - Markets all in the red by about a percent. After that fierce rally off the March lows, the indexes were left overbought at the worst time - the light-volume summer months. The Dow and the S&P500 are lagging the Nasdaq, as tech stocks are holding up better on positive comments out of Goldman.

from Reuters:

Goldman Sachs raises US hardware sector to Attractive from Neutral - Reuters : Reuters also reports Goldman raises Dell (DELL) to Conviction list Buy from Neutral and cuts Western Digital (WDC) to Neutral from Buy. The firm raises Seagate Technology (STX) to Buy and cuts IBM (IBM) to Neutral from Buy, and raises Hewlett Packard Co (HPQ) price target to $47 from $39. Goldman says top pick is Dell due to significant operating leverage, increasing confidence of corporate PC upgrade cycle in 2010. The firm also raises Apple (AAPL) price target to $160 from $145.

Today's winners and losers:

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