On October 24, 2005, Ben Bernanke was nominated for a big promotion
. Seventh anniversaries are traditionally celebrated with gifts of wool, but the Fed head failed to pull any over investors’ eyes yesterday, with a policy meeting powerless to prevent markets moving lower again.
AT&T (T) Park was unusually home run friendly
in the first game of the World Series although alas its corporate owner simultaneously struck out, the telecom titan giving up another 0.83% to continue its October implosion. And a blockbuster song catalog from the ’80s is about to bring in big money
. Bank of America
(BAC) should surely have stuck to the soundtrack of that era, rather than a number from the disco heyday of 1975
, after being sued for a billion bucks for doing the hustle
Today in economics, September pending home sales are out at 10:00 a.m. Eastern. It’s another frenetic session for earnings announcements, with Amazon
(AZN), Banco Santander
(NVS), Procter & Gamble
(S), and Unilever
(UN) all expected to report results.
(ATI): Longbow lowers ATI to Neutral from Buy.
(ACOM): Shares get downgraded to Neutral from Buy at Goldman Sachs.
Canadian National Railway
(CNI): CNI is cut to Sector Perform from Outperform at RBC Capital due to valuation concerns. Its price objective is $91.
(NASDAQ:CROX): The maker of colorful plastic clogs, off 11% ahead of the start of today’s trading, is taken to Neutral from Buy at Sterne Agee.
(FFIV): Shares, slumping before the bell, is now Hold from Buy with Wunderlich.
(ISIL): The small cap is slashed to Sell from Neutral at Citigroup.
(LSI): LSI is lowered to Neutral from Outperform with Wedbush.
(MAN): Macquarie moves MAN to Neutral from Outperform.
(MSI): The stock is downgraded to Outperform from Strong Buy at Raymond James after mixed Q3 results. Its price objective is $60.
New York Community Bancorp
(NYB): NYB is now Market Perform from Outperform at Keefe Bruyette.
(NSC): Bank of America-Merrill Lynch reduces its recommendation on the railroad to Neutral from Buy.
(SFG): McAdams Wright Ragen moves the stock to Hold from Buy.
(TQNT): Lazard Capital takes the tech name to Neutral from Buy.
(TBI): Shares are downgraded to Market Perform from Outperform by BMO Capital.
(WPPGY): The British ad giant gets downgraded to Neutral from Buy at Citi.
(WYN): The equity is downgraded to Hold from Buy at Deutsche Bank.
(See also: New Stock Coverage: Time Warner Cable Gets Great Reception
and Stock Upgrades: Zynga Out of the Doghouse?
No positions in stocks mentioned.
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