Popular culture is, as ever, a step behind the real world. Why hasn’t anyone gone to jail for the financial crisis
, Frontline asked on Tuesday. Maybe it’s because, with markets now at their highest since 2007, all those awful memories are fading fast. Rip Van Winkle — assuming he avoided sleeping on a Select Comfort
(SCSS), after the mattress maker slumped 16.6% last week — would wake up to find the idyllic equity market of half a decade ago. Contrarians note ominously, however, that two of the three nightly TV newscasts began their broadcasts on Friday with the return of retail investors to the market, a meme which the print media is also now running amok with
Still, when even Greece — up 3.97% to best all European bourses — appears to be on the mend, optimism abounds. Now if only we could do something about Apple
(AAPL), fresh from its 12% tumble. This morning in economics, consensus calls for December pending home sales to tick up at 10:00 a.m. Eastern.
In earnings action, it’s the start of another frenetic week for fourth quarter announcements, with today’s releases due to include Biogen Idec
(BIIB), BMC Software
(PINKY: RYAAY), Seagate Technology
(STX), Steel Dynamics
(YHOO), and Zions Bancorporation
(ACAD): The stock is assigned an Outperform at Cowen.
(AKRX) RBC Capital resumes Sector Perform rated research, and a $14 price objective, on AKRX.
(DVA): Shares are begun with a Market Perform by Sanford Bernstein.
(PINK:HINKY): The Dutch brewing giant gets initiated at an Outperform by Sanford Bernstein.
(LGCY): The limited partnership is launched with a Buy at Ladenburg, whose target price is $30.
(LPDX): The company is covered at Buy with WBB Securities.
(PBF): PBF is picked up with a Buy and $40 objective at Dahlman Rose, which says its Northeast product footprint mitigates an element of oversupply risk.
(See also: Stock Downgrades: Apple's Fallen And It Can't Get Up
and Stock Upgrades: Dust Off Those Walkmans -- Sony's Suddenly Sexy Again
No positions in stocks mentioned.
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