Shares endured their single worst session of the year as a Patriots’ Day tragedy in Massachusetts made everything else irrelevant.
Investigators are now focusing their attention on the suburb of Revere
, named for an icon of Boston. Paul did not, as is popularly assumed, actually say “The British are coming,” but the words of a recently departed British Prime Minister do carry special resonance this morning. In 1984, hours after surviving an assassin’s bomb in Brighton, Margaret Thatcher took to the stage to say that “This attack has failed.” And indeed “All attempts to destroy democracy by terrorism will fail
Elsewhere gold endured its steepest slide since January 1980, the month that Jimmy Carter announced an American boycott of the Moscow Olympics as Miracles on Ice and Cold Wars raged. (Good thing there’s no danger of history repeating, eh?
(SALM) nosedived 9.47% after a failed attempt to send The Witch Is Dead made its backers, and not the Iron Lady, look faintly ridiculous
. Toto, it’s actually terrific we’re not in Kansas City Southern
(KSU) any more, after a ratings reduction
saw it fall 5.48%.
Today sees quarterly earnings season start in earnest, with BlackRock
(KO), Goldman Sachs
(INTC), Johnson & Johnson
(JNJ), TD Ameritrade
(AMTD), and Yahoo
(YHOO) among a multitude of companies releasing results.
(PINK: AKZOY): ING Group gives the stock a Buy-from-Hold boost.
(ALK): ALK is lifted to Buy from Hold at Deutsche Bank.
DCT Industrial Trust
(DCT): The industrial Real Estate Investment Trust is raised to Buy from Neutral at Bank of America-Merrill Lynch.
(NASDAQ:DWA): The film studio, whose past offerings have included Shrek
and Kung Fu Panda
, is increased an unusual 180 degrees (Buy from Sell) at B. Riley Caris. The broker, which also takes its target price up to $23.00 from $14.50, would advise purchase ahead of How to Train Your Dragon 2
(GBX): Sterne Agee gives GBX a Buy-from-Neutral upgrade.
(ODFL): JPMorgan takes the truck stock to Overweight from Neutral.
(OC): OC is now Buy from Neutral at Citigroup.
Pioneer Natural Resources
(PXD): The stock is hoisted to Hold from Sell at Canaccord Genuity, which highlights production growth expectations in its Spraberry field among other areas.
(PNFP): Shares get a Buy-from-Hold boost with Wunderlich, which highlights solid loan growth and an attractive relative valuation. The price objective, previously $23, increases to $26.
(S): The stock, yesterday’s top S&P 500
(^GSPC) performer with a 13.50% increase, is now Overweight from Neutral at JPMorgan.
(TMO): Mizuho moves TMO to Buy from Neutral, taking its target price up by $10 to $90 on a name it says should benefit from its acquisition of high-margin Life Technologies
(VMC): Shares get upgraded to Buy from Neutral at Sterne Agee.
(See also: New Stock Coverage: Time to Shop at Wal-Mart
and Stock Downgrades: Strayer Education Sent to Back of Class
No positions in stocks mentioned.
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