When even the land of the matador waves the white flag
in its attempts to stop the bull, it is obvious that Wall Street’s animal spirits will not be stopped. The Dow’s
(^DJI) 0.97% increase, good enough for a new record, was left in the shade by Athens, whose market rose by the most in all of Europe. (National Bank of Greece
(NBG) alone surged some 48% — not bad considering the country only worked for three days last week.)
The Great Gatsby reintroduced the phase “old sport”
into the lexicon, and Manchester United
(MANU) lost ground as its septuagenarian soccer coach said he would finally step down
. Elsewhere, utilities tumbled 2.7% amid all the ebullience, posting the poorest performance of all industry groups. This as the sector suffered an uncomfortable reminder of its darkest days
Today in economics, analysts expect March business inventories to tick up from February’s pace at 10:00 a.m. Eastern. On the earnings front, AngloGold Ashanti
(AU), Cellcom Israel
(CEL), China Yuchai International
(CYD), Post Holdings
(POST), Supernus Pharmaceutical
(SSYS), and Take Two Interactive
(TTWO) are all due to release results.
EPL Oil & Gas
(EPL): Shares are begun with a Buy at KeyBanc Capital.
(NASDAQ:FWM): Bank of America-Merrill Lynch launches Neutral rated research on the recent grocery initial public offering, but BB&T Capital (Buy), Credit Suisse (Outperform), and Guggenheim (Buy) are more upbeat.
Hannon Armstrong Sustainable Infrastructure
(HASI): The clean energy REIT (Real Estate Investment Trust) is assigned an Outperform at Robert W. Baird.
(PH): The industrial equipment firm is a fresh Buy at Bank of America-Merrill Lynch.
(LOV): William Blair starts the owner of JDate and ChristianMingle.com at an Outperform.
T. Rowe Price
(TROW): UBS has a new Neutral on the financial firm, assigning it a price objective of $77.
(See also: Stock Upgrades: Corning Shatters Glass Ceiling
and Stock Downgrades: Ctrip Told to Take a Hike
No positions in stocks mentioned.
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