Europeans, in the week some of their number marched while wearing Nazi uniforms
in Greece, were awarded the Nobel Prize for peace. Athens’ own Coca-Cola Hellenic Bottling
(CCH) decamped for Switzerland, although with unemployment in its home country reaching a record 25.1%, one fears surging demand for its products being employed as Molotov cocktails in upcoming austerity riots.
A knife on a bottle, Hellenic or otherwise, was declared the world’s nastiest sound
by scientists at the University of Newcastle, while coals-to-Newcastle proved a profitable investment strategy as James River Coal
(JRCC) jumped 30.2%. And True Religion
(TRLG) rose 22.36% even as it was reported that more Americans are losing their religion
This morning in economics, analysts expect August business inventories to slip slightly at 10:00 a.m. Eastern. The first full week of third quarter earnings season is upon us, with today's results expected to include Brown & Brown
(BRO), Charles Schwab
(GCI), Packaging Corp. of America
(PKG), and WD-40 Co.
(ATK): ATK is upgraded to Outperform from Perform with a $65 target price at FBR Capital, which notes defense companies are raising their dividends and buying back a significant amount of stock.
(CLWR): The stock, up 9.9% before the bell, is now Neutral from Underperform at Macquarie.
(COST): COST is moved to Market Perform from Underperform by BMO Capital based on moderating gross margin pressure and favorable expense leverage. The target price is also taken up, to $106 from $75.
Credit Suisse Group
(CS): The bank gets a Neutral-from-Underperform boost by BNP Paribas.
(ICE): ICE is upgraded to Buy from Hold at BGB Securities amid lower regulatory risk.
(ISRG): Shares are upgraded to Overweight from Neutral at JPMorgan based on favorable trends in general surgery.
(NYSE:LOW) Bank of America-Merrill Lynch lifts the home improvement retailer to Buy from Neutral.
New Oriental Education
(EDU): EDU is upgraded to Outperform from Perform at Oppenheimer, which has a $25 price target. Channel checks suggest fundamentals remained intact during the past three months.
Paper & Forest Products
(LPX) and Weyerhaeuser
(WY) are each upgraded to Outperform from Sector Perform at RBC Capital amid increasingly attractive valuations.
(PVA): Shares are upgraded to Buy from Neutral at SunTrust, whose target is $7.50.
(O): The stock is now Neutral from Sell at UBS based on dividend increases.
(SNDK): Shares are increased to Outperform from Neutral with Wedbush.
(S): Shares, surging before the bell, are hoisted to Hold from Underperform at Jefferies, which takes its target up to $7 from $3.
(TWI): TWI gets taken to Buy from Hold at Jefferies.
(RIG): RIG is raised to Outperform from Neutral at Macquarie.
(See also: Stock Downgrades: Hasbro's Toy Story Has Unhappy Ending
and New Stock Coverage: Is Owning ADT a Cause for Alarm?
No positions in stocks mentioned.
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