On February 27, 1964, the Italian government leaned on the outside world for help
. On February 27, 2013, investors concluded the mother country doesn’t need any assistance, even as Papa John’s
(PZZA), purveyor of its national dish, nosedived 9.14%. Shares subsequently surged, with Dollar Tree
(DLTR) jumping 10.49% to top the S&P 500
(^GSPC), even as infamous tree poisoner Lamar Advertising
(LAMR) added on 4.22% to finish at a fresh 52-week peak.
Elsewhere Bill Ackman really needs to get an Herbalife
(HLF). While his favorite short gained 3.63%, JC Penney
(JCP), which the hedge fund manager continues to defend to the death, is some sliding 16.78% before the opening bell.
Today in economics, analysts expect a slight slippage in the Chicago Purchasing Managers Index for February at 9:45 a.m. Eastern. In earnings action, Ahold
(PINK:AHONY), Barnes & Noble
(GPS), Iron Mountain
(MCP), Palo Alto Networks
(PANW), Royal Bank of Scotland
(RBS), and Sears Holdings
(SHLD) are all due to report results.
(ADTN): Shares are taken to Equal Weight from Overweight with an intact price target of $25 at Stephens.
(SAM): A steep share price valuation sees the brewing outfit downgraded to Hold from Buy at Williams Capital.
(BSFT): Mizuho moves the equity to Neutral from Buy on account of disappointing guidance, growth, and leverage.
(GSK): The British pharmaceutical firm is slashed to Underweight from Equal-Weight at Morgan Stanley.
(NASDAQ:GRPN): The daily deal web site, whose shares are tumbling 26.45% before the opening bell, gets downgraded to Underperform from Market Perform at Raymond James among a multitude of other ratings reductions this morning. Issues include an altered business model in the wake of its earnings release.
(HEI): Shares are now Neutral from Buy at Bank of America-Merrill Lynch.
(RVBS): Sterne Agee reduces its rating to Neutral from Buy, sending the stock skidding 4.13% in today’s pre-market trading.
(SKS): Morgan Stanley moves the stock to Underweight from Equal Weight with a $10 target on account of increased SG&A (Selling, General and Administrative Expenses), among other concerns.
(STAA): STAA is slashed to Market Perform from Outperform by William Blair, which is troubled with its reduced outlook and excessive valuation following the fourth quarter earnings announcement.
(UBS): Keefe Bruyette cuts the Swiss banking behemoth to Market Perform from Outperform.
(VSI): Shares are lowered to Neutral from Buy at Bank of America-Merrill Lynch.
(See also: New Stock Coverage: Time to PayPal Around With eBay
and Stock Upgrades: The Earth Just Moved for Joy Global
No positions in stocks mentioned.
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