Equity Moves on Sell-Side Sentiment for July 12, 2012
Benzinga tracks new bullish and bearish ratings and the effect they have on underlying equities' price action once trading opens. If a stock that is newly rated bearishly - Sell, Underweight or Underperform - drops in relation to its opening price, it is said to move in-line with its new rating. Likewise, a stock is said to move in-line with a new bullish rating - Buy, Overweight or Outperform - if it goes up from its opening price.
For the second day this week - the other being Tuesday - stocks have had a tough time moving in-line with new ratings. 27 such stocks this morning have a collective positive move of 0.2 percent, all equally-weighed.
The highest return on a ratings trade would have been from The Greenbrier Companies (NYSE: GBX). At 7:48 AM, Benzinga Professional reported that the company's shares were upgraded to Buy at Stifel Nicolaus this morning. GBX opened at $14.66 and reached an intraday $15.30 by 1:25 PM, for 4.37 percent.
Trinity Industries (NYSE: TRN) is also approaching 4% in its in-line move towards its new Buy rating, also from Stifel Nicolaus. Shares opened at $21.87 and is working on toppling an intraday high of 22.74 as we speak. Benzinga Professional reported this rating at 7:48 AM.
Taken individually, all but one of the equities were in-line with their rating for at least a while, averaging a positive 1.4 percent from their respective opening prices at their intraday highs (for new bullish ratings) or lows (for bearish ratings).
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Tags: Stifel Nicolaus