Stocks slipped, with the Nasdaq
(^IXIC) falling for the first time in seven sessions, after Senator Harry Reid cautioned against “happy talk” on the fiscal cliff. This contrasts sharply with the situation in Greece, which has now been the subject of no fewer than four debt discussions in two weeks. (With so much hot air expended over Athens, no wonder a kid’s helium balloon recently knocked out the country’s entire radar system
Moving from the spoken to written word, newspaper powerhouse McClatchy
(MNI) continued its stellar start to the week, advancing 4.00% to a fresh peak. Capitalists clearly haven’t entirely abandoned its industry then, although communists in China were reduced to tears by an Onion
. Beijing “fell for a satirical story
,“ in the words of Chicago’s Tribune
, which itself has some experience in that matter
(HPQ), the king of flip-flops
, dropped 2.98% to lead Dow
(^DJI) decliners even as plastic clogs
(CROX) stocks surging 9.23%.
Today in economics, analysts expect October new home sales to tick up at 10:00 a.m. Eastern, and the Fed releases its Beige Book outlining regional financial conditions at 2:00 p.m. On the earnings front, Aéropostale
(ARO), American Eagle
(AEO), Express Inc.
(EXPR), Fresh Market
(GES), Movado Group
(MOV), Pall Corp.
(RUE), TiVo Inc.
(TIV), and Workday
(WDAY) are all due to reveal results.
(FRED): Citing a challenging general-merchandise backdrop among other concerns, SunTrust takes the stock to Neutral from Buy.
(VIVO): The diagnostic firm gets downgraded to Underperform from Perform with Wedbush.
(ESV) and Rowan
(RDC) are each reduced to Hold from Buy at Deutsche Bank.
(RAH): The equity, no longer trading on fundamentals following yesterday’s $5 billion buyout bid by ConAgra
(CAG), is today taken to Neutral from Buy at UBS.
(SDRL): Shares get downgraded to Hold from Buy at Deutsche Bank.
(NYSE:SHW): The painting and coating powerhouse, whose stock has recently traded at historic highs, is now Neutral from Buy at Nomura.
The Fresh Market
(TFM): Shares, tumbling 15% in pre-market activity, are taken to Hold from Buy at Deutsche Bank, which cites the surprise resignation of CFO Lisa Klinger. Its new objective is $54, down from $64.
Universal Technical Institute
(UTI): UTI is moved Underperform from Market Perform by BMO Capital.
(WIN): The telecom name gets cut to Underweight from Neutral at Piper Jaffray, which worries about dividend sustainability. Its price objective is also reduced, to $6.50 from $8.00.
(See also: Stock Upgrades: Louis Vuitton Living Large in Luxury's Lap
and New Stock Coverage: Amazon Is a Money Tree
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.