On a light volume day when Wall Street traders didn’t have much company, one was anything but the loneliest number. The Dow
(^DJI) added on 111 to another new record, while S&P 500
(^GSPC) shares stand a sole point away from an historic summit of their own.
Concerns over Europe, whose official anthem is preposterously “Ode to Joy,” abated for 24-hours, and Ludwig van Beethoven’s Stateside mood music was much more the market’s liking, with Steinway Musical Instruments
(LVB) surging some 3.64%. (Looking at today’s Italian angst, the EU’s song should surely be "Waterloo
," especially with BlackBerry
(BBRY) — based in that Ontario town — lately enduring a tough time of it.)
Language translator Rosetta Stone
(RST) rose 2.82% to finish at a fresh 52-week peak; send some of the product, if not its stock, to the Dutch finance minister currently trapped in a Tower of Babel
. St. Jude Medical
(STJ) fell 1.98%, so "Say a Little Prayer" for it. "Do You Know The Way to San Jose?" One hopes so, with eBay Inc.
(EBAY), based in California’s third-largest city, having just jumped 1.52%. Please deliver some stock options to poor Dionne Warwick
Today in economics, analysts expect a slight slippage in pending home sales for February at 10:00 a.m. Eastern. On the earnings front, expect Allied Irish Banks
(AIB), China Automotive
(CAAS), China Life Insurance
(PAYX), PVH Corp.
(PVH), Red Hat
(RHT), and Texas Industries
(TXI) to release results.
(NASDAQ:CXPO): Canaccord rates the Houston energy firm a Hold, which institutional investors often take as Wall Street research speak for "sell."
Fifth Street Finance
(FSC): JPMorgan has a fresh Overweight on FSC.
(MTZ): The Coral Gables construction company is covered with a Buy at Lazard Capital.
Palo Alto Networks
(PANW): Needham picks up the recent Initial Public Offering at a Buy and sets it a $70 target price. The firm’s ‘next generation firewall’ offerings are seen as particularly promising, in the broker’s opinion.
(CRM): Stephens starts the stock at Overweight.
The Medicines Company
(MDCO): Shares, a strong performer yesterday, get begun with a Buy at Guggenheim.
(VASC): Piper Jaffray assigns an Overweight on the medical instrument outfit.
(WRI): Evercore resumes WRI at Equal Weight.
(See also: Stock Upgrades: AOL, You’ve Got a Check in the Mail
and Stock Downgrades: Hump Day Headache for Cliffs Natural Resources
No positions in stocks mentioned.
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