Anemic volume 24 hours ahead of the election saw stocks vote with their feet — presumably putting them up on La-Z-Boy
(LZB), whose 3.54% increase made it easily one of the day’s bigger movers. When the listless trading was done, Dow Industrials
(^DJI) edged up 19.28.
An interesting year, 1928. Herbert Hoover cruised to a landslide 444-to-87 Electoral College victory that November on promises of “permanent prosperity” as the Roaring '20s reached its peak. The Crash came under a year later, and by the time voters next went to the polls he was unceremoniously dumped out of office during the depths of the Great Depression.
Four years is indeed an eternity in politics. As for today’s two protagonists, Mitt Romney’s arch nemesis Tesla Motors
(TSLA) advanced 8.93% but the Chipotle Mexican Grill
— whose father was born south of the border — will be happier with that stock, upgraded this morning, climbing 1.10% yesterday. Meanwhile Hawaii native President Obama saw Maui Land & Pineapple
(MLP) jump 10.26% and our links-loving chief executive
enjoyed a 6.47% surge in Callaway Golf
No top-tier economic data due today, but earnings announcements are expected out of AOL Inc.
(AOL), BMW Group
(BAMXY), CVS Caremark
(CVS), InterContinental Hotels
(IHG), News Corp
(NWSA), NYSE Euronext
NYX), and Office Depot
(ADT): ADT is initiated with an Outperform at Oppenheimer, which issues a price objective of $50.
(CZR): Deutsche Bank has a Hold, and $6 target price, on CZR.
(FANG): FANG is a fresh Outperform with Wells Fargo.
(DNKN): Shares are a new Neutral with Wedbush.
(FTNT): FBR Capital has an Outperform on FTNT.
(NYSE:KRG): The small cap is launched with a Buy at Bank of America-Merrill Lynch.
(NASDAQ:KRFT): Shares are initiated with a Buy at Canaccord Genuity.
(LOCK): Bank of America-Merrill Lynch begins Buy rated research on LOCK.
(MDLZ): Canaccord Genuity starts Sell rated coverage on the packaged foods company.
Palo Alto Networks
(PANW): The stock is a Perform at FBR Capital, whose target is $58. The brokerage advises staying on the sidelines until meaningful margin expansion is apparent.
(PSMI): The stock is begun with a Buy at Canaccord, whose target is $23.
: Ross Stores
(ROST) and TJX Cos.
(TJX) are new Neutrals at Credit Suisse, which starts Stein Mart
(SMRT) at Outperform.
(TTS): TTS is picked up with an Overweight at Piper Jaffray.
(WDAY): Shares are an Equal-Weight at Morgan Stanley and an Outperform with Wells Fargo.
(AUY): AUY is an Outperform at RBC Capital, whose target is $25.
(See also: Stock Upgrades: Chipotle Mexican Grill Shares Set to Head North
and Stock Downgrades: Energizer in Need of New Batteries
No positions in stocks mentioned.
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