On March 26, 1957
, a momentous day in the history of European integration, post-war continental kingpins could scarcely have conceived that their heirs would spend March 26, 2013 bailing out an economic basket case. But any soccer fan could have told you the EU was doomed to fail.
Just look at this weekend’s matches. Bosnia-Herzegovina, which hosted genocide as recently as 1995, played Greece, the poster child for financial failure. Croatia took on Serbia amid chants of “Kill, Kill”
, and Ukraine played Poland, two countries who didn’t exactly exude peace and harmony
in a high profile tournament last summer. At least fútbol powerhouse Manchester United
(MANU) bucked a bad tape to gain 1.33%.
After a quiet couple of sessions the pace of economic data picks up with two releases due at 10:00 a.m. Eastern, namely February new home sales and consumer confidence for March. On the corporate front, Bank of China
(PINK:BACHY), Children’s Place
(PLCE), GOL Linhas Aéreas Inteligentes
(GOL), Mattress Firm Holding
(NEOG), and Turquoise Hill
(TRQ) are all due to report results.
(AMX): The Mexican telecom titan controlled by the world’s richest man Carlos Slim is moved to Buy from Neutral at Bank of America-Merrill Lynch.
(BSFT): The tech stock gets a Market Perform from Underperform boost by Raymond James.
(NASDAQ:EA): Piper Jaffray juices the video game giant, whose titles include Madden NFL
and The Sims
, to Overweight from Neutral. The stock, a strong performer so far in 2013, is seen benefiting from the launch of next-generation consoles. Shares are accordingly up about 1.4% in today’s pre-market trading.
(GDOT): GDOT gets upgraded to Outperform from Perform at JMP Securities.
LaSalle Hotel Properties
(LHO): BMO Capital hoists the accommodation outfit to Outperform from Market Perform.
(NOV): NOV is now Buy from Neutral at Guggenheim.
(BTU): The coal company is increased to Outperform from Market Perform at Raymond James.
RF Micro Devices
(RFMD): Oppenheimer raises RFMD to Outperform from Perform, establishing a price objective of $7 on a stock it says stands to benefit both from a more diversified product line and leverage to key clients including Samsung
(PINK:SSNLF) and Apple Inc.
(AAPL). Shares are currently surging some 5% ahead of the open as a result.
William Morrison Supermarkets
(PINK:MRWSY): The British grocer is now Buy from Neutral at Citigroup.
(WOR): Macquarie moves the equity to Outperform from Neutral.
(See also: New Stock Coverage: Sibanye Gold Set to Glitter
and Stock Downgrades: Apollo Investment an Appalling Investment?
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.