Monday, March 8, 2010

Intra-day action (MCD, CSCO, LXRX, ICO, HLX)



US stocks are flattish this morning 2 hours into the day.  The DJIA is off a few points, despite a strong effort from McDonald's (MCD), up 2.2% on strong sales.  Cisco (CSCO) is up 2% also, after JP Morgan switched the analysts responsible for covering the stock.  The stock is now covered by Rod Hall, who put a $28 target on the shares, higher than the previous analyst's estimate.  Hall likes the opportunities in mobile data and server virtualization.


Among gainers today are stocks continuing runs they started last week, with little news today.


Helix Energy Solutions Group (HLX) is up 6.5% on news that it will update its "strategic direction," by shifting focus away from oil and gas.
"The Company is unable to be specific with respect to a timetable for a divestment of its oil and gas business and there are many factors that will affect its ability to execute on a divestment, but it intends to aggressively focus on the monetization of its oil and gas business in order to complete its transformation to becoming a contracting services company focused on its core competencies in deepwater well intervention and subsea construction."


Among losers are Lexicon Pharmaceuticals(LXRX) and International Coal Group (ICO), both down on news of dilutive stock offerings.




Copyright 2010 AlphaNinja

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