Even as the world’s mightiest roller coaster opened
in Los Angeles, our other coast easily has it beat for ups and downs. Twenty-four hours after plunging by triple-digits, the Dow
(^DJI) bounced back by the same amount amid encouraging economic data.
With Google (GOOG) honoring “God’s architect,”
real estate stocks enjoyed an appropriately celestial showing as new-home sales hit their highest level in almost half a decade. Lam Research
(LRCX) made investors rich, rising 3.82% on an analyst upgrade
, but a fugitive from justice
, Rich in every sense of the word, failed to outrun the Grim Reaper.
Elsewhere a financial big shot accused investors of “jumping the gun
” and firearms firm Smith & Wesson
(SWHC) advanced 3.74% ahead of earnings.
Today’s corporate results are expected to include Bed Bath & Beyond
(BBBY), General Mills
(GIS), HB Fuller
(MON), and Paychex
Adobe Systems Incorporated
(ADBE): Jefferies takes the tech stock to Buy from Hold amid optimism over its “Creative Cloud” offerings.
Alliance Data Systems Corporation
(ADS): Shares are now Buy from Neutral at Suntrust Robinson Humphrey.
Allot Communications Ltd
(ALLT): Citing an improvement in orders and execution, Wunderlich increases its rating to Buy from Hold. The price objective, previously $13, is now $16.
ARM Holdings plc (ADR)
(ARMH): The British firm, a key Apple Inc.
(AAPL) supplier, is upgraded to Buy from Hold at The Benchmark Company, whose increased price target is $45. The SAM (Served Available Market) for its chips are expected to grow at a 9% compound annual rate through 2017.
Banco Santander, S.A. (ADR)
(SAN): Shares are up about 2% in today’s European trading after Citigroup boosted the Spanish financial firm to Neutral from Sell.
Buffalo Wild Wings
(BWLD): Morgan Stanley moves the fast food stock to Overweight from Equal-Weight.
Comfort Systems USA, Inc.
(FIX): KeyBanc Capital Markets moves the stock to Buy from Hold.
Health Net, Inc.
(HNT): The stock gets upgraded to Outperform from Neutral at Credit Suisse.
(HOMB): Hailing the company’s “game changing” purchase of acquisition Liberty Bancshares, Wunderlich hoists HOMB to Buy from Hold. The target price also increases, by $8.50 to $29.
(KEY): BMO Capital Markets moves the money center bank to Outperform from Market Perform.
Lam Research Corporation
(LRCX): A second upgrade in 24-hours for the firm, today lifted to Buy from Neutral at Bank of America-Merrill Lynch.
MGM Resorts International
(MGM): Nomura moves the casino company to Buy from Neutral.
Pandora Media Inc
(P): The Internet radio outfit, fresh from yesterday’s 8.46% advance, is moved to Outperform from Neutral at Cowen this morning. Advertising revenue opportunities abound, the broker believes, and a competitive threat from Apple isn’t overly concerning.
Rackspace Hosting, Inc.
(RAX): RAX is raised to Outperform from Market Perform with Wells Fargo.
(See also: New Stock Coverage: Google Inc’s Search Party Just Getting Started
and Stock Downgrades: No Love in the Air for Southwest Airlines Co.
No positions in stocks mentioned.
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