A person born in 1929 pocketed $590 million yesterday
but, for the rest of us, Wall Street is suddenly carrying ominous echoes of that fateful October 84 years ago. The Dow
(^DJI) suffered its worst two-session slide since last autumn amid iffy economic reports. This included a downward revision to first quarter worker productivity, which any net prophet could have predicted
Still, on the morning of 6/6 we should remember just how far the S&P 500
(^GSPC) has come from its low of 666
. Alas for Abe the devil was indeed in the details, or rather absence of them
. A lack of specifics in his speech sent the Nikkei
(INDEXNIKKEI:NI225) nosediving another 3.8% to an eight-week trough.
(AAPL), whose first machines priced at $666.66 will now set you back considerably more
, dropped after enduring a hellish patent ruling.
Today’s quarterly earnings announcements include Ann Inc.
(CIEN), Cooper Companies
(COO), Dominion Diamond
(DDC), Fairway Group
(DATE), J.M. Smucker
(ZQK), and Vail Resorts
(CLVS): Shares are now Overweight from Neutral at Piper Jaffray.
(CNW): Bank of America-Merrill Lynch takes the trucking titan to Buy from Neutral.
(CYBX): Shares, up 5.24% in yesterday’s weak market, are moved to Market Perform from Underperform at Northland Securities, which takes its target price up to $44 from $40. The medical appliance firm is expected to end fiscal 2013 in a strong position.
(OTCMKTS:DANOY) The French food firm, whose other brands include Activia and Evian, gets upgraded to Outperform from Neutral by BNP Paribas.
(OTCMKTS:HENKY): The German giant, a world leader in adhesives, is increased to Neutral from Underperform by BNP Paribas.
(LPNT): LPNT is lifted to Outperform from Neutral by Credit Suisse.
(MNTA): Citing its heightened optimism regarding generic Copaxone approval, UBS increases its investment opinion to Buy from Neutral.
(PHG): Shares in the Dutch electronics giant are currently up almost 3% in today’s European trading on the back of an Overweight-from-Equal Weight boost by Barclays.
(SBGL): Goldman Sachs gives the commodity company a boost to Neutral from Sell.
(THC): Deutsche Bank takes THC to Buy from Hold.
(WRB): The insurance outfit is lifted to Buy from Neutral at Bank of America-Merrill Lynch.
(See also: New Stock Coverage: Whole Foods Looks Tasty
and Stock Downgrades: Throwing the Book at Barnes & Noble
No positions in stocks mentioned.
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