Three years to the day after the Dow
(^DJI) rounded off its worst May since 1940
, blue chips jumped by triple digits to hit yet another historic high. (Back then, Korea concerns and European angst dominated discussions, but now thankfully neither the former
nor the latter
is an issue.)
Wedding ring king Tiffany
(TIF) surged 3.95% to a fresh 52-week peak. Indeed romance was everywhere in the air, even if Shakespeare surely didn’t have Larry in mind when he wrote the heartfelt lines: “Shall I compare thee to a Summer’s day
? Thou art more lovely and more temperate: Rough winds do shake the darling buds of May.”
(TRIP) rose 4.23% to top S&P 500
(^GSPC), a day after the travel sector was boosted by Beijing buying Club Méditerranée
(OTCMKTS:CLMDY) for 700 million bucks. (Because the Chinese make such exemplary tourists
.) All the tea in China was powerless to prevent JC Penney
(JCP), whose kettles look like Hitler
, plunging 1.37% despite getting a price objective increase at JPMorgan
(JPM), which knows all about tempests in teapots
No top-tier economic data due today, but Brown Shoe
(BWS), Chico’s FAS
(DAKT), Michael Kors
(KORS), Movado Group
(MOV), Sberbank Russia
(OTCMKTS:AKSJF), Tata Motors
(TTM), The Fresh Market
(TFM), and Tootsie Roll
(TR) are all expected to release results.
(ALKS): Leerink launches the stock at Outperform.
Chicago Bridge & Iron Company
(CBI): The company is covered with a Neutral at Robert W. Baird, whose price objective is $73. Robust energy-related end markets is somewhat mitigated by recent stock strength, the broker believes.
(FMER): FMER is a fresh Overweight at JPMorgan.
(I): RBC Capital sets an Outperform on the satellite stock.
(MNTX): Benchmark begins a Buy rating and $14 target price on an outfit it notes is often strongest in its second and third quarters.
Nuverra Environmental Solutions
(NES): NES is a new Buy at Needham, which assigns a $4.50 price objective on an outfit it says has a nicely leveraged operating model amid real promise in its gas assets.
(NYSE:SEAS): The recent initial public offering is a new Neutral at Citigroup, Goldman Sachs, JPMorgan, Lazard Capital, and Nomura. Bank of America-Merrill Lynch and KeyBanc are both more bullish, beginning Buy-rated research, and Macquarie has an equally upbeat Outperform.
(LNCE): The snack food stock is a new Neutral at Suntrust Robinson Humphrey.
(SPPI): Burrill starts an Outperform recommendation and $12 price target on SPPI, a stock it says can garner future revenue from Folotyn, Fusilev, and Zevalin.
(See also: Stock Upgrades: Athenahealth Is in Fine Fettle
and Stock Downgrades: Javelin Mortgage Is a Falling Knife
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.