Professional Documents
Culture Documents
Market Review: Europe & Us
Market Review: Europe & Us
E-mail: market.techspeak@gmail.com
7 September 2010 Page 1
Market Gazer Hong Kong - Japan - Germany - UK - North America
market digested the news on the At the end of the European trading day,
appointment of Mark Hurd as the GlaxoSmithKline (+0.88%), Daimler
company’s president, reporting to Larry (+0.25%), and Prudential (+0.09%)
Ellis, the current CEO. Hurd also added to managed to stay out of the red zone,
the Oracle’s board of directors. Hurd’s while Barclays languished at the bottom
appointment was seen as positive with 2.74% losses, joined by
considering what Hurd had done for his Commerzbank (-2.12%) and Deutsche
former company, Hewlett-Packard. Hurd Boerse (-2.05).
was later sued by HP for violation of the
company’s trade secrets by joining Oracle. Oracle stayed on top with 5.87% gains as
Oracle and HP compete in the market for Mark Hurd joined the company,
data-center technology and other areas. McDonald’s advanced 0.95% to $75.80,
and General Electric edged up as well to
Upgrades and Downgrades $15.44 or up 0.31%. American Express
tumbled 4.09% to $40.09, Texas
Siemens AG was upgraded to BUY Instruments fell 2.92% to $23.62, and
from NEUTRAL by UBS. eBay finished at $23.53 or down 2.49%.
Volkswagen was downgraded to HOLD
from BUY at Citigroup. Disclaimer: This report is provided for information purposes
Barclays was downgraded to MARKET only. It is not an offer to sell or to buy any securities. This
report has been prepared based on sources believed to be
PERFORM from OUTPERFORM by reliable, but there is no assurance or guarantee regarding its
completeness & and accuracy. The author accepts no
Bernstein. responsibility or liability arising from any use of the report.
GlaxoSmithKline was upgraded to BUY
from NEUTRAL by Bank of
America/Merrill Lynch.
Texas Instruments was downgraded to
BELOW AVERAGE from AVERAGE at
Caris. Moderation in orders and
negative earnings revision cycle were
cited behind the downgrade.
Oracle was put to CONVICTION BUY at
Goldman as the coming of Mark Hurd
as president, replacing Charles Phillips
was considered as a near-term
positive catalyst in addition to
improving macro environment. Target
price was set at $27.
Halliburton was maintained at
OUTPERFORM by Wells Fargo with the
valuation range of $35-$37.
E-mail: market.techspeak@gmail.com
7 September 2010 Page 2