Friday, November 6, 2009

Intraday action

Stocks are still slightly positive three hours into trading.

General Electric (GE) is by far the DJIA leader, +7% after two Wall Street firms upgraded the stock.

-->> Oppenheimer ups GE to Outperform, and takes their price target to $18. They see diminished need for new capital raises, and a stabilization in the GECC (GE Capital Corp) portfolio.

-->> Bernstein upped GE to Outperform, with a price target of $19 for many of the same reasons. They see opportunity for earnings upside in multiple GE segments through 2011.

Nice 7% move, too bad GE only accounts for 1.1% of the DJIA, about 1/9th of IBM's weight.

Copywright 2009 AlphaNinja

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