The planet’s biggest party starts today,
but Wall Street was more like a wake yesterday, with stocks dropping amid iffy economic data and renewed concerns regarding Europe. Ann Inc.
(ANN), which literally forces its models to bid farewell to arms
, slid 7.93% but there were thumbs up for ARM Holdings
(ARMH), which finished at a fresh high and scored another analyst upgrade this morning.
In a week when the BRIC coiner called it quits, the Manchester United (MANU) fanatic
can certainly afford to retire with that stock surging 4.86% to a post-IPO peak. Speaking of soccer, François Hollande and Angela Merkel just attended a “friendly” match between France and Germany. Present in the crowd, and booed mercilessly, was ex-German goalkeeper Harald Schumacher, who in 1982 knocked out two teeth and cracked three ribs of a French opponent
in a brutal assault. With such displays of sporting harmony, it’s no wonder that the European Union is in such trouble. Today in Belgium — where American flags are the one growth industry, apparently
— a two-day summit concludes, for any Brussels bureaucrats unfortunate enough to be there rather than in Rio.
A relatively light week on the economic calendar comes to a close with December wholesale inventories due to tick up at 10:00 a.m. Eastern. By contrast, it’s been another frenzied five days for corporate earnings announcements, with some 17% of the S&P 500
(^GSPC) releasing results. Today’s important announcements include AOL Inc.
(AOL), Beacon Roofing Supply
(BECN), Buckeye Partners
(BPL), CBOE Holdings
(MCO), and Nissan Motor
(CELG): JMP Securities starts the stock at Outperform.
Central Garden & Pet
(NASDAQ:CENT): Shares are assigned a lukewarm Neutral at SunTrust, whose price target is $10.
(DSW): The designer shoe seller is a started with a Buy at Sterne Agee. Its price objective is $75.
(MSI): Wells Fargo establishes Outperform rated research, with a price objective in the range of $68 to $70.
(PAY): The stock is picked up with a Hold at Jefferies.
(ZBRA): Wells has a fresh Market Perform on ZBRA.
(See also: Stock Upgrades: Stock up on Activision Blizzard Ahead of Winter Storm
and Stock Downgrades: Headaches Keep Coming for Skullcandy
No positions in stocks mentioned.
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