Downgrades and Initiations: A Look at Wall Street Reactions

Strategic Insights -

SmarTrend's automated pattern recognition system, which analyzes over 5,000 securities simultaneously throughout the trading day, provided its subscribers with trend change alerts in real time. The system indicated an uptrend on September 13, 2010, for BioCryst Pharmaceuticals (BCRX) at $5.55, a downtrend on September 13, 2010, for China Valves Technology (CVVT) at $9.14, and an uptrend on July 9, 2010, for Entergy (ETR) at $75.29. Meanwhile, several analyst firms downgraded various stocks, including China Valves Technology, Mercer, BioCryst Pharmaceuticals, Entergy, Forest Laboratories, Intrepid Potash, optionsXpress, PetroHawk Energy, and Tiffany & Co.

Key Takeaways:

  • BioCryst Pharmaceuticals (BCRX) was downgraded to Underperform from Neutral at BofA/Merrill and indicated an uptrend on September 13, 2010, at $5.55 by SmarTrend's automated pattern recognition system.
  • China Valves Technology (CVVT) was downgraded to Neutral from Overweight at Piper Jaffray and indicated a downtrend on September 13, 2010, at $9.14 by SmarTrend.
  • Entergy (ETR) was downgraded to Neutral from Outperform at Credit Suisse and indicated an uptrend on July 9, 2010, at $75.29 by SmarTrend.
  • Mercer (MERC) was downgraded to Outperform from Strong Buy at Raymond James.
  • optionsXpress (OXPS) was downgraded two notches to Sell from Neutral at Goldman Sachs.
  • Tiffany & Co (TIF) was downgraded two notches to Sell from Neutral at Goldman Sachs.
  • Intrepid Potash (IPI) and PetroHawk Energy (HK) were initiated at Neutral and Hold at Susquehanna and Citigroup, respectively.
  • Forest Laboratories (FRX) was downgraded to Equal Weight from Overweight at Morgan Stanley.

Statistics:

  • On September 13, 2010, BioCryst Pharmaceuticals (BCRX) traded at $5.55.
  • On September 13, 2010, China Valves Technology (CVVT) traded at $9.14.
  • On July 9, 2010, Entergy (ETR) traded at $75.29.
  • SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day.

Sources:

  • SmarTrend News Watch via COMTEX
  • TradeTheTrend.com
  • Comtex News Network, Inc.
  • BofA/Merrill
  • Piper Jaffray
  • Raymond James
  • Goldman Sachs
  • Citigroup
  • Morgan Stanley
  • Susquehanna