Silence is certainly not golden, not with unloved bullion miner Barrick
(ABX) imploding another 8.26% to a ten-year low, but money continued to scream from the rafters elsewhere on Wall Street. The Dow
(^DJI) jumped by triple-digits on bad-news-is-good-news economic data.
A much-praised Pandora
(P) did indeed find Paradise by the Dashboard Light
, advancing 8.04% after announcing its online radio service has been integrated into the dashboard of over 100 new autos. Barnes & Noble
(BKS), bouncing back from Tuesday’s tumble, jumped 5.45% after abandoning its aging Nooks and grannies in favor of a young demographic shown to be surprisingly prone to old school page-turning
Elsewhere, pawnbroker First Cash Financial Services
(FCFS) nosedived 10.51% in posting the Nasdaq’s
(^IXIC) poorest performance. Which was no way to welcome a pawnshop to the stars on the day it opened in New York’s diamond district
Today in economics, May pending home sales are out at 10:00 a.m. Eastern. In earnings action,Accenture
(ACN), Commercial Metals
(CAG), KB Home
(NKE), Winnebago Industries
(WGO), Worthington Industries
(WOR), Shaw Communications
(SJR), and Schnitzer Steel
(SCHN) are all due to release results.
Air Products & Chemicals, Inc.
(APD): Bank of America-Merrill Lynch lowers its rating to Underperform from Neutral.
(BASFY): The giant German chemical company gets cut to Underweight from Neutral at JPMorgan.
Diana Containerships Inc
(DCIX): Wells Fargo downgrades the shipping stock to Market Perform from Outperform.
Rogers Communications Inc. (USA)
(RCI): BMO Capital Markets moves RCI to Market Perform from Outperform.
(SSW): The company is cut to Underperform from Market Perform with Wells.
(SVYZY): JPMorgan moves the shares to Underweight from Neutral.
Subsea 7 SA
(SUBCY): BNP Paribas slashes the stock to Neutral from Outperform.
TELUS Corporation (USA)
(TU): The wireless communications company is taken to Market Perform from Outperform by BMO Capital.
(See also: New Stock Coverage: Regal Entertainment Group Fit for a King
and Stock Upgrades: Trimble Navigation Limited Finds a Friend
No positions in stocks mentioned.
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