The music industry partied like it was 1999
all over again and if markets couldn’t quite recapture all of their own Millennial madness, stocks still scored good gains. With all eyes on election shenanigans in Italy, investors were only too happy to wake up with a Horsehead
(ZINC) in their bed, that stock riding bullish research comments
to advance 1.69%.
(YHOO) ballet-loving Marissa Mayer
really ought to know all about Swan Lake, so it was surprising she was blindsided by a black swan
. Her mood likely won’t be improved by this morning’s upgrade-related advance in ex-employer Google
Elsewhere investors told HSBC Holdings
(HBC) CEO Stuart Gulliver — with a last name like that, he surely enjoys his Travels — where to go after Europe’s largest bank suffered its steepest slide since the summer. And cemetery stock Carriage Services
(CSV) put the fun in funeral, advancing 3.28% to a fresh 52-week peak. But that isn’t the end of the matter
This morning in economics, analysts expect an increase in January pending home sales at 10:00 a.m. Eastern, and Fed head 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.
(AZ): Shares are moved to Market Perform from Underperform at Keefe Bruyette.
(MDRX): Credit Suisse moves the shares to Outperform from Neutral.
(BIIB): The biotech is increased to Buy from Hold at Canaccord.
(DRI): The owner of Olive Garden and Red Lobster gets lifted to Neutral from Underperform at Bank of America-Merrill Lynch.
(EIX): Stock in the electric utility is up ahead of the open after a Buy-from-Neutral boost at SunTrust, which approvingly notes its lower costs and favorable tax rate trends. Its price objective is $51.
(NASDAQ:GOOG): The Internet search giant is now Buy from Neutral at Bank of America-Merrill Lynch, which also takes its target price up to $920 from $790. Multiple expansion and increased revenue opportunities abound, the broker believes, including Product Listing Ads and potential Motorola product launches. Shares are up ahead of the open as a result.
J.B. Hunt Transport Services
(JBHT): Avondale increases its investment opinion to Outperform from Market Perform, taking its target up by $20 to $80 in the process amid improving intermodal volumes and pricing.
(LNC): Bank of America-Merrill Lynch moves the insurance outfit to Buy from Neutral.
(NOK): The Finish telecom titan is taken to Buy from Hold with a $6 objective at Argus, which highlights improved growth prospects in mid-tier and low-end phones.
(OAS): Shares get raised to Outperform from Market Perform at Raymond James.
Paper & Packaging
: Longbow gives Buy-from-Neutral lofts to both International Paper
(IP) and Rock-Tenn
(RSH) Raymond James raises its recommendation to Market Perform from Underperform.
(See also: New Stock Coverage: These Days, You're Either LinkedIn or You're Left Out
and Stock Downgrades: Storm Clouds Gather Over First Solar
Editor's Note: Today at 4:30 p.m. ET, Minyanville is hosting a free webinar with Buzz & Banter contributor Peter Prudden, who will give attendees an in-depth look at his macroeconomic outlook and trading style. To sign up for this free event, click here and hit the register button on the upper-left side of the screen.
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