What’s good for Wall Street may be not be so stellar for Main (or Sesame, for that matter
) but encouraging employment data saw the S&P 500 Index
(^GSPC) score its strongest three-session streak since the start of the year.
Across the Atlantic, European Union officials ended seven hours of emergency talks at about 1:30 a.m., after which they agreed to assist failing banks. This will be news to National Bank of Greece
(NBG), which tumbled 23.04% to a lifetime low in propping up the entire NYSE.
Elsewhere, brick and mortar bookseller Barnes & Noble
(BKS) fell a further 3.77% but English majors everywhere wept even more at developments at its online counterpart Amazon
(AMZN). There is a disgraced celebrity with a shaky grasp on grammar
sits atop its bestseller list
. No wonder a school textbook maker may be about to enter the scariest chapter of all
Today in economics, the Chicago Purchasing Managers Index for May is out at 9:45 a.m. Eastern, followed by June’s final University of Michigan consumer confidence figure at 9:55 a.m. In earnings action, AZZ incorporated
(AZZ), Emmis Communications
(EMMS), Finish Line
(FINL), Research In Motion
(BBRY), and Shaw Communications
(SJR) are all set to release results.
(ACN): Shares, imploding about 8% this morning after a third-quarter revenue miss, are moved to Neutral from Buy at UBS.
Almost Family Inc
(AFAM): The home health care provider is now Underperform from Neutral at Robert W. Baird, which says potential reductions in Medicare reimbursement represents a major negative.
BAE Systems PLC
(BAESY): Deutsche Bank downgrades the stock to Hold from Buy.
(HINKY): The brewing giant based in Holland gets cut to Reduce from Neutral at Nomura, sending it tumbling about 3% in today’s European trading. Issues include increasing emerging market softness and heightened currency concerns.
(OC): Citigroup cuts the bottle maker, up sharply yesterday, to Neutral from Buy.
T. Rowe Price Group, Inc.
(TROW): Shares are taken to Hold from Buy at Sandler O’Neill.
Williams Partners L.P.
(WPZ): Credit Suisse lowers the limited partnership to Neutral from Outperform.
(See also: New Stock Coverage: Answer Is Blowing in the Wind at American Superconductor Corporation
and Stock Upgrades: High Fives for F5 Networks, Inc.
No positions in stocks mentioned.
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