J-Lo was apparently happy to be “HOME!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
” last week but the failure of John Boehner’s well, Back Up Plan
, sent stocks slumping and the House home alone for the holidays. Amid the mayhem NYSE Euronext
(NYX) surged 39.13% after being bought IntercontinentalExchange
(NYSE:ICE), a cool cat from Hotlanta that coveted its London International Financial Futures and Options Exchange. (Europe has a future? Who knew?)
Diet drug maker Vivus
(VVUS) jumped 18.61% but Santa will still have issues squeezing down the chimney tonight
. No such problems for financially tortured Spain, whose jackpot known as “El Gordo” (The Fat One) just awarded a first prize of €4.4m
Stock markets can’t wait to split this afternoon, closing early at 1:00 p.m. Eastern, and neither can Nike
(NKE), which splits 2:1 in the form of a 100% stock dividend payable today. There are no quarterly earnings of note.
(NYSE:FLY): The jet aircraft outfit is upgraded to Buy from Neutral at Citigroup, which sees increased opportunity following a recent share price pullback. Its new price objective is $13.20.
(KRC): Shares are boosted to Buy from Hold with a $52 target price at Stifel Nicolaus, which cites the recently announced $600 million build-to-suit development.
(TLP): Stifel Nicolaus lifts the limited partnership to Buy from Hold based on increased visibility into cash flow and potential distributions The target is $41.
Price Objective Increases
: Needham, while keeping their overall ratings unchanged on each, nonetheless boosts price targets for both Facebook
(FB) and Yahoo
(YHOO). The former goes from $33 from $25 as, “In our view, buying it now would enable investors to participate in the potentially significant incremental returns on capital”, analysts wrote in a note. The latter is lifted to $26 from $19 with the risk-reward ratio increasingly “attractive.”
(See also: Stock Downgrades: Pinnacle Entertainment Falls From Summit
and New Stock Coverage: General Motors Enjoys Life in the Fast Lane
No positions in stocks mentioned.
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