Jobless claims come in lower than expected, a good number that should add to the pre-market rally. It was a good number, the best report since April. 391k vs. 420 expected.
(AMD) Advanced Micro Devices, Inc. 5 downgrades on AMD overnight. It’s now trading below last nights lows to $5.35, shares Down 10% in Pre-Market.
Downgrade – JAGNote by Bank of America/Merrill
Downgraded to Underperform from Neutral at Macquarie.
Downgraded to Hold from Buy at ThinkEquity
Downgraded to Neutral from Buy at Longbow
Downgraded to Underperform from Neutral at BofA/Merrill Lynch
(C) Citgroup (JPM) JP Morgan Chase & Co.
Bernanke’s Operation Twist to Spur Loan Growth at Citigroup and JPMorgan
Insituform Technologies (INSU)
Got halted after it warned. Currently down 15% from yesterday’s close.
By Tim Kelleher
*Disclosure: Tim Kelleher is short BAC, AMD, MS, C, WFC, DB, UBS