Raging Bull, released 33 years ago, remains the most recent prized possession on Robert De Niro’s mantelpiece thanks to events in Hollywood last night, and Wall Street’s own animal spirits are suddenly starting to look similarly old.
The
S&P 500 Index (^GSPC) snapped a seven-week win streak amid concerns over the looming sequestration. (For some strange reason the public feels that
President Obama, golfing in Florida, and
Congress, off on vacation, could work a bit harder to solve our current crisis.) Our Commander in Chief said avoiding Friday’s coming calamity should be a “
no brainer,” but his attempts to
map the human brain promptly sent navigation giant
Garmin (GRMN) sinking 11%.
Elsewhere a legendary
German business executive in his 90th year took his own life and a hiring freeze from
Foxconn (PINK:FXCNY),
long plagued by suicides, sent
Apple (AAPL) tumbling another 2%.
No top-tier economic data due today, but earnings announcements are expected out of
Autodesk (ADSK),
Caesars Entertainment (CZR),
3D Systems (DDD),
FirstEnergy (FE),
Hertz (HTZ),
Lowe’s (LOW),
Pearson (PSO), and
URS Corporation (URS).
CalAmp Corp. (CAMP): Northland Securities starts the stock at Outperform. Its price objective is $14.25.
Constellation Brands (NYSE:STZ): The world’s largest winemaker, whose shares have surged of late, is up again before the bell after being launched with a Buy at SunTrust. Its target price is $60.
Eaton (ETN): Credit Suisse covers the industrial equipment outfit at Outperform.
NV Energy (NVE): NVE is a new Hold with Wunderlich, whose target is $20. The rising risk of additional regulation, allied to a steep valuation after recent share price strength, keeps the broker from being more constructive.
TRI Pointe Homes (TPH): FBR Capital covers the California-based maker of single-family homes at an Outperform, assigning a price objective of $22. Exposure to an improving macroeconomic environment and improved demographic trends are each seen as catalysts.
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.
