Irish Banks Down on Credit Rating Cut

By Jon "DRJ" Najarian

Rescue Costs Top Estimates

Allied Irish Banks (AIB) and the Bank of Ireland (IRE) are down hard after Standard & Poor's cuts the country's sovereign credit rating, citing a higher-than-expected cost of rescuing the banks. Our Depth Charge program shows AIB down 16 percent and IRE falling by 10 percent in the pre-market.

ReneSola (SOL) Up but Cooling Off?

The manufacturer of solar wafers has had quite the run since warning and lowering guidance May 21. Shares have nearly doubled, and SOL was up 16 percent Friday. The stock is another 5 percent higher today and, I must say, as much as I like solar and wind, I think SOL is overdone.

Williams-Sonoma (WSM) Gets Upgraded

Piper Jaffray just upgraded shares of Williams-Sonoma from "neutral" to "buy." The pullback in WSM shares over the last few days has given Piper reason to look for an attractive valuation. The company is scheduled to present at two industry conferences this week, including one held by Piper Jaffray Tuesday morning.

(Chart courtesy of tradeMONSTER)

Comments

[Jasper M:]

You Have to love a trading program called "Depth Charge".

Jun 09 02:22 AM

[maxbid:]

Watch SOL go up another 5% today (Tuesday) and then another 5% Wednesday to top $8.00

Jun 09 08:41 AM

[maxbid:]

Watch SOL go up another 5% today (Tuesday) and then another 5% Wednesday to top $8.00

Jun 09 08:42 AM