A day after Halloween, Wall Street’s animal spirits bounced back from the dead. Christmas — if not Challenger, Gray and Christmas, which announced some sobering news on October layoffs
— arrived early for financial markets, with the S&P 500
(^GSPC) enjoying its single best session since September 13.
ADP’s private payroll report, weekly unemployment claims, the ISM manufacturing index, and consumer confidence all came in above consensus expectations. As for the final item on Thursday’s “Fierce Five” list of economic indicators, third quarter productivity, that did disappoint. For this, McKayla Maroney and her quartet of teammates bear the blame for the country’s collective goofing off
during July and August.
Bill Clinton once said American productivity would improve enormously if only America followed Stephen Covey’s Seven Habits of Highly Effective People
. As such, Bubba surely enjoyed the analyst inspired
5.57% advance in Franklin Covey
(FC). (Slick Willie will, however, feel the pain of Pain Therapeutics
(PTIE), which tumbled 36.62% to a new low in posting the Nasdaq‘s
(^IXIC) poorest performance.)
Today in economics, analysts expect an improvement in September factory orders at 10:00 a.m. Eastern. Another peak earnings week comes to a close with Alpha Natural Resources
(ANR), Chesapeake Energy
(CHK), Chevron Corporation
(CVX), Madison Square Garden
(MSG), and Royal Bank of Scotland
(RBS), and Washington Post
(WPO) all due to release results.
(AFCE): Shares are initiated with an Overweight at Piper Jaffray.
(CHTR): Deutsche Bank has a Hold, and $83 price objective, on CHTR.
(NASDAQ:DECK): The stock, which has slumped 73.39% over the past 12 months, is resumed with a Buy at Jefferies.
(DLPH): Shares are reinstated with a Buy at Deutsche Bank, whose target price is $41.
(EGO): Morgan Stanley starts the stock at Overweight.
Summit Midstream Partners
(SMLP): SMLP is picked up with a Buy at Janney Montgomery Scott.
(See also: Stock Upgrades: Starbucks Still Making Big Bucks
and Stock Downgrades: Lady Luck Leaving Las Vegas Sands
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.