Stocks reached new records as the market once again partied like it was ’99. (That would be 1899, it being free market economist Friedrich Hayek’s birthday
and all.) A research recommendation
sent Spirit Airlines
(SAVE) surging 1.86% to the highest level in its history. Its shares now no longer go for a song, despite the words of a chart-topping ditty from 1986
Ah, 1986 — the year Alex Ferguson took over at storied soccer team Manchester United
(MANU). News of his departure sent its shares sliding 1.76%. Los Angeles, to the surprise of no one, was named America’s worst city for traffic congestion
. Still, that is no excuse for letting an Enron felon walk
, especially in a session prison stock Geo Group
(GEO) gained 0.42% to an all-time best.
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.
American Water Works
(AWK): Shares get upgraded to Outperform from Market Perform at Wells Fargo following its first-quarter earnings announcement. Customers are being added and the divided increased.
(BBVA): The Spanish financial firm gets a Buy-from-Hold boost at Société Générale.
(PINK:BRGYY): Deutsche Bank hoists the British gas outfit to Buy from Hold.
(CTRP): Shares are upgraded to Buy from Neutral at Bank of America-Merrill Lynch.
Green Mountain Coffee Roasters
(NASDAQ:GMCR): Shares, surging 15.33% before the bell, are now Buy from Neutral at Dougherty.
(IAG): IAG gets increased to Buy from Hold at Mackie Research.
(MFB): Bream Capital moves MFB to Buy from Hold.
(PINK:MDIUY): Morgan Stanley moves the media empire controlled by Italy’s Silvio Berlusconi to Equal Weight from Underweight.
(MGM): The casino company is trading higher ahead of the open on an upgrade to Buy from Neutral at Sterne Agee.
(XOMA): The biotech, up 18.21% ahead of the open, gets upgraded to Buy from Hold at Canaccord Genuity.
(See also: New Stock Coverage: Jacobs Engineering Can’t Keep Climbing Ladder to Stars
and Stock Downgrades: Tumi Has Too Much Baggage
No positions in stocks mentioned.
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