(^DJI) continued its stellar start to the year, with bonds again enduring serious serious weakness. With both developments, we now have uneasy echoes of signs 1994
, as pointed out in a new report from Bank of America‘s
(BAC) Merrill Lynch unit. January 1994 was, of course, when Internet inventor Al Gore
delivered a famous speech on the “Information Superhighway
.” (Hey, mock him at your peril — at least someone’s still making money in Apple
(BT), whose claims of inventing the hyperlink
are about as believable as our former vice president’s regarding the Web, tumbled 2.19%, suffering its worst day in two months after a ratings reduction
(YHOO) oscillated wildly, ending down 3.00% despite being up approximately 2% before the bell. Can we now say Marisa Mayer’s honeymoon is officially over? One thing’s for sure — she should surely have replaced the company’s “garbage” hold music
with a little number called Love Rollercoaster
, especially after its lead singer sadly passed away hours earlier
Today the Federal Open Market Committee concludes its two-day policy meeting, and an interest rate announcement is expected at 2:15 p.m. Eastern. It’s Hump Day of peak week for earnings reports, with Boeing
(COP), Electronic Arts
(PINK:FIATY), Hennes & Mauritz
(PINK:NTDOY), Northrop Grumman
(NOC), Phillips 66
(QCOM), and Roche Holding
(PINK:RHHBY) all due to release results.
(ADSK): ADSK is now Outperform from Neutral with Wedbush, which notes ongoing improvement in US architectural activity.
Bob Evans Farms
(BOBE): Highlighting both its improving margins and real estate value, Stephens boosts BOBE to Overweight from Equal Weight with a $53 price objective.
(CHK): Shares, surging before the bell after the resignation of controversial CEO Aubrey McClendon, are boosted to Buy from Hold at Stifel Nicolaus.
(NASDAQ:CSCO): The key Dow
(^DJI) component is raised to Outperform from Perform by Baird Equity Research, whose price objective increases to $25 from $21. The tech stock has “emerged as a more effective integrated-solutions vendor,” analysts wrote in a note.
(ICE): ICE is upgraded to Buy from Neutral at ISI Group.
(KBH): The homebuilder is now Outperform from Neutral on account of its accelerating order growth and margin expansion.
(NSC): Atlantic Equities increases its rating to Overweight from Neutral based on a belief coal demand will bottom out in the first quarter. The target is also taken up by $10, to $86.
(TPX): The mattress maker is moved to Buy from Hold at KeyBanc.
Vanguard Health Systems
(VHS): Shares are upgraded to Buy from Hold at Deutsche Bank, which expects the company’s cash flow outlook to improve.
(VIAB): The media outfit gets moved Outperform from Neutral at Cowen, which says an increased share of advertising collars could be coming its way.
WPP Group plc
(WPPGY): Jefferies gives a Buy-from-Hold hoist to the British advertising giant, whose units include Ogilvy & Mather and Young & Rubicam.
(See also: New Stock Coverage: Buffalo Wild Wings Earthbound Ahead of Super Bowl? and Stock Downgrades: Analyst Has Reservations About OpenTable.)
No positions in stocks mentioned.
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