Marilyn Monroe once warned us that marriages often suffer from The Seven Year Itch,
but stocks just celebrated Valentine’s Day showing no inclination to scratch their own seven week equivalent. Indeed the S&P 500
(^GSPC) has now started a year with seven straight weekly gains for the first time since 1967, when San Francisco was about to celebrate its Summer of Love
. (Hometown hero Trulia
(TRLA) — which knows just where to find romance
— clearly still has what it takes to capture investors hearts and wallets, having just surged 41.9%.)
While engagement ring bling was being exchanged nationwide, General Electric
(GE) jumped 3.5% after selling a 30 Rock of its own and Diamond Foods
(DMND) gained 10% after BlackRock
(BLK) revealed a substantial stake in the snack maker. Jack Lew, our Treasury Secretary designate, told a Senate Finance Committee, “I believe very strongly that people should pay taxes on their income.” If nothing else, that is a welcome improvement on his predecessor
No top-tier economic data due today, but earnings announcements are expected out of Allscripts Healthcare
(MDRX), Analog Devices
(ADI), CF Industries
(CF), Dell Inc.
(DELL), Deutsche Börse
(PINK:DBOEY), Express Scripts
(ESRX), Fidelity National Financial
(HLF), Marriott International
(MDT), Newfield Exploration
(NFX), Northeast Utilities
(NU), Sealed Air
(TEX), and Westlake Chemical
(NASDAQ:CSTR) Shares are cut to Underweight from Neutral with a $51 price objective at JPMorgan, which is troubled by both valuation and risks associated with its Redbox movie rental business.
(CREE): The lighting stock is now Perform from Outperform at Oppenheimer after a strong recent run.
: HSBC Holdings
(HBC) is moved to Equal Weight from Overweight at Morgan Stanley, sending the stock lower in today’s London trading. ING Groep
(ING), meanwhile, gets an identical downgrade.
(GFI): The commodity company is slashed to Sell from Neutral at Citigroup.
(IPI): Concerned about a weaker 2013 potash market outlook, Dahlman Rose downgrades the stock to Sell from Hold with a $16 target price.
(LPNT): LPNT is lowered to Hold from Buy with WallachBeth
(OII): The stock is now Neutral from Buy at Guggenheim.
(PHG): Shares get downgraded to Hold from Buy at Société Générale.
(TRLA): The online real estate outfit, which surged 41.9% last week, is today taken to Hold from Buy at Deutsche Bank.
(UBS): Credit Suisse cuts its fellow Swiss bank to Neutral from Outperform.
(VECO): The tech name is now Neutral from Overweight at JPMorgan.
(VOD): Sanford Bernstein takes the telecom stock to Underperform from Market Perform, sending it lower before the bell.
(See also: New Stock Coverage: Tesco Stock Surprisingly Stable After Horse Meat Scandal
and Stock Upgrades: Best Buy a Screaming Buy?
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.