Stocks took Sandra Boynton’s iconic advice
to heart, with the Dow Average
(^DJI) ending up 3.35% in truncated Turkey Week trading. Nokia
(NOK) jumped 31% for its best five-day showing since 1992. Surely even its infamously dour co-founder
could crack a celestial smile over such a showing, but sadly misnamed Best Buy
(BBY) CEO Hubert Joly was all frowns as his stock slumped 15% in posting the S&P 500's
(^GSPC) poorest performance.
Firearms firm Sturm, Ruger & Co.
(RGR) surged 13.5% to hit a half-year high and we sadly said goodbye to the man who knew from firsthand experience exactly “Who shot J.R.?
” And Ben Bernanke went before the Economic Club of New York to lament he no longer “has the tools to offset” our fiscal cliff. If only the Fed head went shopping at Lowe’s Cos.
(LOW), with the home improvement retailer rising 9.9% on the week.
No top-tier economic data due today, but Berry Plastics
(BERY), Big Lots
(BIG), Jos. A. Bank Clothiers
(JOSB), and Seadrill
(SDRL) are all expected to post quarterly earnings.
Abercrombie & Fitch
(ANF): Janney Capital Markets adds the recently surging clothing company to its Best Ideas list. Channel checks indicate that the company is on the brink of a material turnaround.
(AKS): Shares are upgraded to Neutral from Sell at UBS.
(ANAD): The microcap gets moved to Buy from Hold at Needham, whose price target is $2.50.
(BCS): JPMorgan moves the British bank to Overweight from Neutral on expectations its balance sheet restructuring can unlock shareholder value.
(BRCM): Shares get a Buy-from-Hold hoist at Benchmark, which says it should deliver 3% organic revenue growth.
(DSW): Keybanc takes the shoe stock to Buy from Hold amid improving margin prospects. Its price objective is $81.
(ETN): ETN is now Neutral from Underweight at Atlantic Equities, based on the pending Cooper Industries
(EXC): Encouraged by a recent strengthening of gas prices, Deutsche Bank boosts the nuclear power play to Buy from Hold and also takes its target up by $1 to $34.
(FB): Sanford Bernstein boosts the stock to Outperform from Perform on its belief consensus revenue growth estimates underestimate upcoming growth potential. The target is taken up by $10, to $33.
(IMO): Shares are upgraded to Perform from Underperform at CIBC World Markets.
James River Coal
(JRCC): The stock is up before the bell on a lift to Outperform from Perform at Raymond James.
Knight Capital Group
(KCG): Shares are upgraded to Market Perform from Underperform at Keefe Bruyette, which has a $2.60 price target.
(LMT): The defense stock is lifted to Outperform from Perform by Bernstein.
Research In Motion
(NASDAQ:RIMM): The recently surging stock, left for dead not long ago, is today taken to Outperform from Perform at CIBC World Markets, which has high hopes for the upcoming BlackBerry 10 launch. Its target is taken to $17 from $8.
(YHOO): Shares, recently trading at fresh 52-week peaks, get upgraded to Conviction Buy from Buy at Goldman Sachs, which notes “less pessimistic expectations” for the company’s core search business. The stock is up ahead of the open as a result.
(See also: New Stock Coverage: Apple Stops the Rot
and Stock Downgrades: McDonald's Stock Set to Slim Down
No positions in stocks mentioned.
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