New York’s weather has lately been more like late March than the first month of the year, but the ebullient "January effect” remains much evidence on the New York Stock Exchange. Stocks scored a second straight day of increases, with Zale Corp.
(ZLC) — which bills itself as “America’s diamond store since 1924″ — surging 11.69%. Alas Ruby Tuesday
(RT) was strictly rhinestone on Thursday after announcing iffy earnings on Wednesday. It fell 5.78%. Taco Bell owner Yum Brands
(YUM) rebounded 2.21%, this as one of its employees was sent to the slammer for handcuffing himself to a female co-worker in the hope she would go out with him
(TIF) could do with more committed customers like that, especially after the wedding ring king posted the S&P 500′s
(^GSPC) poorest performance, plunging 4.52%. The jeweler went public in 1987, an unforgettable annum that Aéropostale
(ARO) celebrates in its shirts
. Not the best idea, given Wall Street’s punk performance that year, and the apparel outfit indeed also ended down on an otherwise up day, and just incurred a ratings reduction to boot. Jack Lew’s illegible scrawl
may soon be seen on our currency after his nomination for Treasury Secretary. The flip side of a dollar bill clearly shows Herbalife
(HLF) giving those who accuse it of operating a pyramid scheme the evil eye
. Unfortunately, it fell 1.78% after an unconvincing attempt to defend itself.
Today’s economic data includes the December federal budget at 2:00 p.m. Eastern. On the corporate front, Infosys
(INFY) and Wells Fargo
(WFC) have each already announced results this morning.
Brookdale Senior Living
(BKD): The long-term care provider gets lifted to Buy from Neutral at Bank of America-Merrill Lynch.
(DNDN): Shares of the small cap are surging 13.7% ahead of the open on an upgrade to Outperform from Perform at Sanford Bernstein, which notes favorable urologist feedback on its Provenge product.
(EIX): The electric utility gets increased to Buy from Neutral at Goldman Sachs, which says it is able to generate above average dividend growth.
: Goldman adds the previously Buy rated Daimler
(PINK:DDAIF) to its Conviction Buy list and gives Volvo
(PINK:VOLVY) a Conviction Buy-from-Neutral boost.
(F): Shares are up sharply in today’s pre-market trading after getting placed on Goldman’s list of Conviction Buys.
(FRX): Goldman lifts FRX to Neutral from Sell.
: Bank of America-Merrill gives Buy-from-Neutral boosts to both Community Health
(CYH) and Tenet Healthcare
(HOV): The home builder, a stellar performer in 2012, gets hoisted to Neutral from Underweight at JPMorgan.
(NYSE:NOK): The telecom stock, up 18.67% yesterday to top the entire NYSE, is this morning upgraded 180 degrees (Buy from Sell) at Société Générale.
Philip Morris International
(PHI): The cigarette stock is added to Goldman’s Conviction Buy list.
(UPIP): UPIP is increased to Outperform from Market Perform at Northland.
(VIAB): Janney Capital juices the media giant to Buy from Neutral with a $65 price target as it expects ongoing ratings improvements from programming investments.
(See also: Stock Downgrades: Raspberries for Research In Motion
and New Stock Coverage: Good Things on Tap at Molson Coors
No positions in stocks mentioned.
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