The stock market enjoyed its best two-session rally for four weeks, and optimism is now spreading even to Athens. (Cynics say that an upgrade of Greece’s credit rating
is a sure fire sign of the Apocalypse, and indeed interestingly enough Hormel Foods
, whose Spam is the exactly sort of food designed to survive Friday’s Mayan end-of-days prophecy, hit the highest level in its entire history.)
Charlotte’s own Bank of America
(BAC) jumped 3.27% to top the Dow
(^DJI), and those who view investing in bank stocks as one big casino could take some solace in fellow North Carolina native PokerTek
(PTEK) surging 44.44% to best the Nasdaq
(^IXIC). Hooker Furniture
(HOFT) gained 1.55% to a fresh 52-week peak but Dominique Strauss-Kahn learned it’s still hard out there for a pimp
. Elsewhere FactSet Research Systems
(FDS), provider of earnings estimates, fell 4.36% after its earnings missed estimates.
It’s quite a light day in economic data, but quarterly earnings announcements are expected out of Accenture
(ACN), Bed Bath & Beyond
(FDX), General Mills
(GIS), Jabil Circuit
(NAV), and Paychex
Access Midstream Partners
(ACMP): UBS lifts the limited partnership to Buy from Neutral.
(PINK:AKZOY): Shares are now Neutral from Sell at Citigroup.
(C): Morgan Stanley, which was itself upgraded this morning, moves its fellow financial firm to Overweight from Equal-Weight.
(DNKN): Shares are upgraded to Buy from Hold at Miller Tabak.
First American Financial
(FAF): The stock is upgraded to Overweight from Equal Weight at Barclays.
(MS): MS is moved to Overweight from Equal Weight at Evercore.
(NASDAQ:PNRA) Shares are now Outperform from Neutral with Wedbush, whose channel checks indicate same-store sales are tracking at the high end of guidance. The target price is raised to $190 from $160.
(SYNA): Impressed by both its expanding market share and strong product roster, JPMorgan moves the stock to Overweight from Neutral. The price objective is also increased, by $4.50 to $34.
(STX) and Western Digital
(WDC) both get Buy-from-Hold hoists at boutique brokerage Craig Hallum. Each is up ahead of the open as a result.
(See also: New Stock Coverage: Charles Schwab Making Money Talk
and Stock Downgrades: Plastic Not Fantastic for American Express
No positions in stocks mentioned.
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