Making money is now officially as easy as 123. The Dow
(^DJI) set its 19th record of 2013 after advancing 123.27. Big soda-loathing Mayor Bloomberg, whose company has had better weeks
, saw insult added to injury as a beloved Monster Beverage
(MNST) surged 4.81%.
While the Nasdaq
(^IXIC) hit its 12th straight 12.5-year high, constituent component BlackBerry
(BBRY) — downgraded this morning — slumped 3.97% after its CEO told a conference in Orlando that “We are on solid ground.” An odd thing to say at the home of SeaWorld
(SEAS), especially considering the company’s most recent product was launched at New York’s waterfront Pier 36.
And an analyst upgrade
saw Vestas Wind Systems
(OTCMKTS:VWDRY) take its two-day surge to 16.93%. Legendary financial writer Alan Abelson, who wisely eschewed Wall Street’s cheerleading cohort by saying “Basically, our function is to piss in the wind
,” would not be happy at such unrestrained exuberance.
On the earnings front, Arctic Cat
(ACAT), Cisco Systems
(CSCO), Computer Sciences
(OTCMKTS:ESYJY), Jack in the Box
(M), and Skechers USA
(SKX) are all due to report results today.
(PINK:BRGYY): The British gas firm gets downgraded to Hold from Buy at Canaccord Genuity, which would take profits after recent strength in the stock.
(BBRY): Shares, currently tumbling 2.95% in today’s pre-market trading, are moved to Market Perform from Outperform by Sanford Bernstein. The stock is due a breather after its recent run, the broker believes.
(BC): The bowling and boating behemoth is reduced to Market Perform from Strong Buy at Raymond James.
(CLX): Credit Suisse cuts the company to Neutral from Outperform, as further upside from current lofty levels appears unlikely.
: Barclays gives Underweight-from-Equal Weight downgrades to both Charles Schwab
(SCHW) and E*TRADE
(ETFC). It takes TD Ameritrade
(AMTD) to Equal Weight from Overweight.
(NYSE:DPZ): Miller Tabak moves the fast-food firm to Hold from Buy amid valuation issues after an 81.20% share price surge over the past year. Yesterday the stock reached its $59 price target, and the broker believes domestic same store sales comparisons will start to become steadily more challenging.
(GDI): The diversified machinery name gets moved to Underperform from Neutral at Credit Suisse.
(GLNG): Goldman Sachs slashes the liquefied natural gas name to Sell from Neutral.
(ESI): Shares get downgraded to Equal-Weight from Overweight at First Analysis.
(JNS): Shares get downgraded to Underweight from Overweight at Barclays.
(MOLX): Longbow takes the tech name to Neutral from Buy at Longbow.
(NYX): Barclays takes the exchange operator to Equal Weight from Overweight.
(RENN): Oppenheimer reduces the small cap company to Perform from Outperform as rising investments in mobile will adversely impact the stock, in its view.
(SFD): Shares are lowered to Hold from Buy by BB&T Capital.
(WYN): Janney cuts the company to Neutral from Buy.
(See also: New Stock Coverage: LinkedIn Will Have a Hard Job Maintaining Gains
and Stock Upgrades: Rising Tide at Old Navy Lifts Gap
Disclosure: Minyanville Studios, a division of Minyanville Media, has a business relationship with BlackBerry.
No positions in stocks mentioned.
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