When Mila Kunis recently got into stocks, it set off an inevitable flock of market-top jokes
, but who’d have thunk that the next Black Swan would come from Cyprus? (Actually, given the island’s proclivity for butchering our feathered friends
, maybe it shouldn’t be so surprising.)
Somerset Maugham’s incomparable description of the French Riviera – “a sunny place for shady people” — applies in similar spades to Cyprus, so beloved of money laundering Muscovite oligarchs. Jitters over its proposed bank tax promptly sent the Dow
(^DJI) down for a second straight day, although it was far from impossible to make money on Monday.
Indeed unusually, even Apple
(AAPL) — up 2.72% in its strongest showing for weeks — and Ackman — whose pet project JC Penney
(JCP) surged 6.20% to top the entire S&P 500
(^GSPC) — managed it. Ethanol may be yesterday’s news
, but Methanex
(MEOH) is doing just fine, riding bullish research
to rise 4.60% and finish at a fresh 52-week peak.
An equally upbeat analyst assessment sent Da Vinci robot maker Intuitive Surgical
(ISRG) 5.68% higher. Its expensive shares, which will now set you back some $485.52 after gaining 4,887% in a decade, aren’t exactly free but at least The Da Vinci Code is
The Federal Open Market Committee starts its two-day policy meeting this morning in Washington, DC. In earnings action, AAR Corp.
(AIR), Adobe Systems
(CTAS), DSW Inc.
(DSW), Francesca Holdings
(FRAN), and William-Sonoma
(WSM) are all due to report results.
(ACAD): Shares are initiated with a Buy at Jefferies.
(CAR): Morgan Stanley picks the stock up at Underweight.
(ING) The Dutch financial services giant, famous for sponsoring the New York City marathon, is assigned an Overweight at JPMorgan.
: JMP Securities assigns Market Performs on Amazon.com
(NASDAQ:FB), and Expedia
(NASDAQ:EXPE). It is more bullish on AOL Inc.
(NYSE:AOL), eBay Inc.
(NASDAQ:EBAY) — upgraded elsewhere this morning — Web search giant Google
(NASDAQ:PCLN), and Zillow
(NASDAQ:Z), assigning fresh Outperforms on all five.
Paper & Packaging
: KeyBanc Capital has Holds on Boise
(BZ), International Paper
(IP), and Rock-Tenn
(RKT), which it regards as already appropriately valued at current levels. KapStone Paper and Packaging
(KS), begun with a Buy and assigned a price objective of $33, is more highly regarded, in part due to a solid balance sheet and relatively low debt.
(PCYC): Shares are set an Equal-Weight at Morgan Stanley.
(PRA): Janney has a new Neutral on PRA.
(RLGY): William Blair establishes an Outperform on RLGY.
(SPRT): Deutsche Bank begins Buy rated research on the biotech.
(SCMP): Shares, up 3.26% on Monday, are begun with a Buy recommendation and $10 target price at Maxim Group, which points to potential promise with its dual drugs AMITIZA (to treat constipation) and Rescula (ophthalmology).
(YHOO): Raymond James resumes the Internet outfit at Outperform.
(See also: Stock Upgrades: Don Draper Makes for Some Very Glad Men at AMC Networks
and Stock Downgrades: Looks Like Investors Are Finally Starting to See Through Lululemon
No positions in stocks mentioned.
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