On Ascension Day, stocks fell for the first time in six sessions. An unloved Monster Beverage
(MNST) plunged 5.20% for the S&P 500′s
(^GSPC) poorest performance. It makes Peace Tea
but the trigger-happy fared even worse, with World of Warcraft
propelling a 5.70% implosion in Activision
Baseball card behemoth Collectors Universe
(CLCT) surged 9.36%, this as the world was again reminded that O.J. Simpson literally got away with murder but was sent to the slammer for stealing sports memorabilia
A quiet week in economic data concludes with no top-tier data due on today’s docket. In earnings action, ArcelorMittal
(MT), BT Group
(GFI), Nissan Motor
(OTCMKTS:PCRFY), Student Transportation
(STB), and UniCredit
(OTCMKTS:UNCFF) are all expected to announce results.
American Water Works
(NYSE:AWK): A second upgrade in 24-hours
for the firm, which finished at a fresh peak on yesterday’s broker boost. This morning Citigroup moves the stock to Buy from Neutral.
(ABFS): Shares are now Buy from Neutral at Citigroup.
(BDX): The stock gets moved to Outperform from Neutral at Macquarie.
(BSX): A robust product pipeline prompts Wells Fargo to move the medical device maker to Outperform from Market Perform.
(BT): Shares of the British telecom titan are surging 12.04% to a half decade high in London as we speak, with impressive earnings and a dividend increase occurring in tandem with a Buy-from-Neutral boost at Bank of America-Merrill Lynch. Its analysts wrote in a note that “BT now looks to be within striking distance of its ambition to return to top line growth.”
(EIX): The electric utility is now Buy from Neutral at Citigroup, which sees a more compelling valuation following yesterday’s 2.66% tumble.
(FST): Stifel hoists the stock to Buy from Hold.
(GVA): GVA gets upgraded to Neutral from Sell at Goldman Sachs.
(PKE): Shares are upgraded to Buy from Hold at Needham, whose target is $27. Solid earnings and an improved cost structure are each cited as catalysts.
Red Robin Gourmet Burgers
(RRGB): The stock is raised to Buy from Neutral at Northcoast.
(SRI): Shares are upgraded to Buy from Hold at BB&T Capital Markets.
(TE): TE is taken to Buy from Hold with Williams Capital Group.
(See also: New Stock Coverage: Frozen Smiles All Around at Allergan
and Stock Downgrades: Dean Foods Cries Over Spilled Milk
No positions in stocks mentioned.
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