An uptick in merger activity saw stocks snap a three day skid to post their biggest gains since the end of August, albeit on anemic volume. Investors enjoyed the view atop both Gander Mountain Company
(GMTN) (+33.51%) and Green Mountain Coffee
(GMCR) (+6.34) as Obama announced a trip to move Mount Olympus
closer to Chicago. Holders of Cal-Maine Foods
(CALM) successfully appealed for calm after an 8% pre-market plunge on earnings. Shares in the supplier of eggs recovered sharply though still ended in the red -- a cautionary reminder never to put them all in one basket, even if they’re chocolate.
The singer who implored Americans to “Get a Job
” passed away within hours of The Conference Board announcing online employment openings slipped again in September. The same organization is out with monthly consumer confidence this morning at 10:00 AM Eastern on a hectic day which also includes Case-Shiller housing data and quarterly results from Nike
(WAG), Darden Restaurants
(DRE) and Micron Technology
: Citigroup assumes coverage of Coca-Cola
(KO) and Dr Pepper Snapple
(DPS) with Buys on both. We recently covered Coca-Cola in The World's Best Brands
(DDRX): This stock could also perk up after being initiated at Buy ($35 price target) by Roth, as the broker believes single-cup brewers have clear appeal.MasterCard
(MA): MasterCard is picked up with a Positive at Susquehanna Financial.UpgradesConocoPhillips
(COP): The oil giant is upgraded to Buy from Hold at Collins Stewart, the broker establishing an objective of $60.Broadcom
(BRCM): Broad smiles at Broadcom after an Overweight from Equal-weight upgrade by Barclays, which takes its target to $35 from $30.Polo Ralph Lauren
(RL): Goldman Sachs dresses up Polo Ralph Lauren in a Buy (from Neutral).Phillips-Van Heusen
(PVH): The apparel company gets a snappy new look too, boosted by Bank of America/Merrill Lynch to Buy from Neutral.Athenahealth
(ATHN): The stock is increased to Outperform from Neutral by Robert Baird, which raises the price objective to $46 from $37 on its increased conviction in the company’s long-term growth prospects.Lamar Advertising
(LAMR): Barclays Capital boosts both rating (Overweight from Equal-Weight) and target price ($35 from $22) on Lamar Advertising, citing cost containment and undervaluation.Financials
: A fun day for financials, with several upgrades including Astoria Financial
(AF) (Overweight from Equal-Weight at Barclays), Jefferies Group
(JEF) (Market Perform from Underperform at JMP Securities) and Huntington Bancshares
(HBAN) (Outperform from Market Perform) by FBR Capital
(AZN): The pharmaceutical company is cut to Sell from Hold at Collins Stewart.Western Refining
(WNR): Soleil Securities lowers Western Refining to Hold from Buy with an objective of $8.Portland General Electric
(POR): Goldman’s downgrade of regulated utilities sees Portland General Electric taken to Neutral from Buy.
No positions in stocks mentioned.
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