These broken records are starting to sound like a broken record. The S&P 500
(^GSPC) set its fifth straight historic high, and when the National Bank of Greece
(NBG) jumps 22.77%, you know this rally really has legs. (Either that, or the apocalypse is nigh.) Electronic Arts
(EA) surged 17.11% to a fresh peak, providing further proof video games are actually good for you
Amid the bull run, investors had a serious beef with both Wendy’s
(WEN), which fell 5.56%, and McDonald’s
(MCD), whose 1.31% drop made it the Dow’s
(^DJI) poorest performer. (They obviously never got the memo about May being National Burger Month
.) Twenty-four hours after watchmaker Fossil
(FOSL) surged 9.01%, Manchester United
(MANU) shed 1.76% on news its iconic manager — famous for haranguing referees by incessantly pointing at his wrist
— called time on his club after 27 years.
And New York’s Lincoln Center, historic home to prima donna divas including Maria Callas, appropriately hosted an even more outsized collection of preening egos at the Ira Sohn hedge fund conference. If only the billionaire advice was worth it
Today in economics, analysts expect March wholesale inventories to pick up from February’s pace at 10:00 a.m. Eastern. In earnings action, AES Corporation
(AES), Carlyle Group
(CG), Dean Foods
(DF), Dish Network
(SNE), and Sotheby’s
(BID) are all due to release results.
Engineering & Construction
: Fluor Corporation
(NYSE:FLR) is begun with a bullish Buy at Deutsche Bank. By contrast, the broker has only a Hold on Jacobs Engineering
(NYSE:JEC) after a 31.45% stock price increase over the past 12 months.
(EVR): Shares are initiated with a Positive at Susquehanna.
(INFI): Wells Fargo assigns an Outperform.
(MMSI): The stock is a Hold at The Benchmark Company, whose target is $10 due to limited earnings visibility.
Ocean Power Technologies
(OPTT): The microcap is a Strong Buy at Ascendiant Capital Markets, whose price objective is $5. The broker says OPTT is significantly undervalued.
(PF): The recent Initial Public Offering, whose brands include Birds Eye and Aunt Jemima Vlasic, is begun with a Buy at Janney Capital.
(See also: Stock Upgrades: Green Mountain Scales the Summit
and Stock Downgrades: Tumi Has Too Much Baggage
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.