As the S&P 500
(INDEXSP:.INX) endured its worst day since June 21, the official start of summer, Apple
(NASDAQ:AAPL) fell a further 3.83% and is now down 20.8% from its all-time peak on September 21, the official start of fall. It is now officially in a bear market and bears evidently have no hesitation gobbling up apples
. After President Obama, the deluge?
Bank of America
(BAC), in whose stadium his convention speech was abruptly cancelled
due to a severe storm, slid 7.14% in the Dow
‘s (^DJI) single worst showing. Less logically, writing instrument outfit A.T. Cross
(ATX) imploded 8.34% even though our Commander in Chief once used 22 pens to sign a single bill
. And an analyst upgrade
sent HCA Holdings
(HCA) up 9.44% on an otherwise dire day. The company is based in Tennessee, where everyone apparently fiddles around with accounting
. Bain Capital owns a 20 percent stake in the hospital operator, which should be some consolation for an otherwise down-in-the-dumps Mitt Romney.
This morning in economics, analysts anticipate an increase in the University of Michigan’s preliminary November consumer sentiment survey at 9:55 a.m. Eastern, and September wholesale inventories arrive at 10:00 a.m. On the earnings front, results are expected out of Adidas
(CRZBY), Deutsche Telekom
(DTEGY), Duke Energy
(FE), Kohl’s Corp.
(JWN), Public Storage
(SI), and Walt Disney
(ABFS): Shares are downgraded to Underperform from Neutral at Sterne Agee.
(NASDAQ:ADSK) The name is now Hold from Buy at Jefferies.
(BWA): Shares are removed from the Best Ideas List at Morgan Stanley.
(CCJ): JP Morgan cuts the company to Neutral from Overweight.
(CLH): The stock is downgraded to Market Perform from Strong Buy at Raymond James.
(CNQR): Piper Jaffray takes the technical software firm to Underweight from Neutral.
(CORT): CORT is cut to Underweight from Neutral at Piper.
(CS): Shares are now Neutral from Overweight at HSBC Securities.
(DVN): DVN gets downgraded to Neutral from Buy at Citigroup.
(LFL): LFL is lowered to Neutral from Buy at Citigroup.
(PEUGY): Shares are downgraded to Sell from Hold at Citi.
(GOLD): GOLD gets downgraded to Neutral from Buy at Bank of America-Merrill Lynch.
(SGEN): Shares are slashed to Sell from Hold at Cantor Fitzgerald, which takes its target to $20 from $30. ADCETRIS to treat Hodgkin’s lymphoma has started to stall.
(TTM): TTM is taken to Add from Buy at Spark Capital.
(PANL): Shares, tumbling 27% before the bell, are now Neutral from Outperform with Wedbush, which cites “major disruptions” in customer demand.
No positions in stocks mentioned.
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