Capping a fine 48 hours
for bearded dudes called Ben
, Wall Street — where it is always all about the Benjamins — enjoyed a genuine turnaround Tuesday. Stocks recovered most of Monday’s mauling after market-friendly comments from Fed head Mr. Bernanke.
(AAPL) rose 1.39% on speculation it should split
but Jamie Dimon’s stubborn refusal to do the same
to his currently combined Chairman and CEO roles saw that stock end lower. FarmVille
owner Zynga Inc.
(ZNGA) tumbled 2.04% and Variety
magazine, owner of the most iconic farming headline in history
, said it would cease daily print publication after 108 years. This as Chicago’s Tribune Company
(PINK:TRBAA), whose infamous election front page in 1948
will never be banished to the back burner, announced it is shopping around
This morning in economics, analysts expect an increase in January pending home sales at 10:00 a.m. Eastern, and Ben Bernanke concludes two days of monetary testimony on Capitol Hill. In earnings activity, Anheuser-Busch
(BUD), Cincinnati Bell
(CBB), Dollar Tree
(DLTR), European Aeronautic Defence and Space Company
(PINK:EADSY), Fortress Investment
(GRPN), JC Penney
(JCP), Limited Brands
(TGT), and TJX Companies
(TJX) are all due to report results.
: Citigroup starts Bank of Montreal
(BMO) with a Buy and covers Canadian Imperial Bank of Commerce
(CM) at Neutral. Its respective price objectives, denominated in Canadian dollars, are $71 and $89.
(FRAN): The company is covered with an Outperform at Cowen.
Healthcare Trust of America
(HTA): Raymond James has a Market Perform on HTA.
: Wunderlich has a Hold and $22 price target on Yelp, Inc.
(NYSE:YELP), which must find ways to better monetize the mobile experience. LinkedIn
(NYSE:LNKD) is launched with a Buy and $195 price objective, as its Recruiter product and broader Talent Solutions platforms have become extremely valuable for headhunters. OpenTable
(NASDAQ:OPEN), with a $68 objective, is also begun with a Buy amid ample opportunities for international expansion.
(KALU): KALU is covered with a Neutral at Sterne Agee.
Norwegian Cruise Line
(NCLH): The recent initial public offering is assigned new Neutrals by both Goldman Sachs and UBS ($31 price objective.) JPMorgan, at Overweight, and Wells Fargo, with an Outperform, are more upbeat and the latter sees fair value for the stock in the range of $35 to $37.
Rentech Nitrogen Partners
(RNF): RBC Capital launches Sector Perform rated research on the limited partnership. Its target price is $38.
(See also: Stock Downgrades: Storm Clouds Gather Over First Solar
and Stock Upgrades: Google Is Going Places
No positions in stocks mentioned.
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