Energy will continue to be a focus. WTI is down a tad this morning at just under $66 a barrel. If articles like this have a modicum of likelihood: Guardian: Iran's secret plan for summer offensive to force US out of Iraq - then the respite from the recent surge in gasoline that many are predicting after Memorial Day is likely not to happen. Oh, and don't forget: At 11 this morning, NOAA will be releasing its summertime hurricane forecast. Private forecasters including AccuWeather are already predicting an active season. Key in today's forecast is whether a bias is mentioned toward it being an East Coast season, or a Gulf season.
Notable analyst calls...
- The negative New England Journal of Medicine report on Glaxo's (GSK) Avandia drug has prompted ABN and Deutsche Bank to downgrade GSK to hold.
- Goldman downgraded the Steel sector Neutral from Attractive
- Merrill downgraded a variety of mem chip makers to Neutral. including Sandisk, Samsung, Hynix, and ProMos.
- Goldman notes the former CEO and founder of Monster (MNST) sold a million shares last week. While this former officer is no longer employed and not privvy to inside information, the firm thinks the sale inidcates a sale of MNTR is not imminent.
"Robert Kyosaki - What a Joke" is the title of a thoughtful piece on the guywho was one of the chief advocates of house flipping. Worth the read.
On the Bloomberg for President watch - interesting that Google ads for Mikebloomberg.com are starting to pop up: