Egypt, whose main market swooned 13% in June, may be in denial, but on Wall Street the almighty dollar continues to give bear markets the evil eye
. (King Tut, swaddled in bullion for all time, could at least take some solace from gold jumping 2.6% even as pyramid schemes were collapsing in Cairo.)
An analyst upgrade
saw Apple Inc.
(AAPL) rated golden delicious once more, rising 3.20% for its best performance since the first week of February. Back then the company was being criticized by David Einhorn for its “Depression-era mentality
” but it is now the hedge fund heavy who has a bad case of the blues
Apple’s rival Research In Motion
(BBRY) fell further following a quartet of ratings reductions
, which would have been a tad more useful had they come before
Friday’s 27.76% tumble. The pride of Ontario thus met its Waterloo, but a freshly-installed Canuck at the Bank of England
enjoyed Canada Day much more. The FTSE 100 Index
(INDEXFTSE:UKX) greeted its new guv’nor with an impressive 1.5% gain.
This morning in economics, factory orders for May are out at 10:00 a.m. Eastern. On the earnings front, expect announcements from Acuity Brands
(AYI), Constellation Brands
(STZ), Greenbrier Companies
(GBX), and Zep, Inc.
Align Technology, Inc.
(ALGN): Shares of the orthodontic outfit are assigned an Outperform at Robert W. Baird, whose price objective is $45. Its technology is increasingly making its presence felt in dentists’ offices, the broker believes.
(BCOR): The Internet information provider is begun at an Outperform with Wedbush.
(CSTM): Shares are initiated with an Outperform at Credit Suisse.
Dunkin Brands Group Inc
(DNKN): Lazard launches Buy-rated research, setting a $51 target price on a stock it says generates good cash flow.
(DYN): The electric utility is started with a Sell at Deutsche Bank.
Global Brass and Copper Holdings Inc
(BRSS): Shares, up 4.53% yesterday, are today begun with a Buy at Goldman Sachs.
(GRPN): The stock is initiated with a Buy and $11 objective with Wunderlich, which notes it is impressively diversifying away from its erstwhile core daily deals franchise.
LightInTheBox Holding Co Ltd-ADR
(LITB): Shares are initiated with an Outperform and $17 price objective at Oppenheimer, which cites its significant operating leverage.
Monarch Casino & Resort, Inc.
(MCRI): Wells Fargo covers the company at a Market Perform.
(NWSA): The media name is a new Buy at Deutsche Bank.
Polaris Industries Inc.
(PII): Shares are begun with a Buy at UBS.
Ruckus Wireless Inc
(RKUS): Piper Jaffray picks the stock up at Overweight.
Ryder System, Inc.
(R): Shares are resumed with a Buy rating and $72 objective with Wunderlich, which sees it as the preeminent way to play the 4.2 million vehicle private fleet conversion space.
Scientific Games Corp
(SGMS): Wells starts an Outperform on SGMS.
(TXTR): Saying that the company is about to embark on a big expansion cycle, Oppenheimer assigns an Outperform. Its price target is $35.
Twenty-First Century Fox Inc
(FOXA): Morgan Stanley has a fresh Overweight on the recent spin-off.
(YELP): The stock is a new Outperform at Pacific Crest.
(See also: Stock Upgrades: Las Vegas Sands Corp. Is in Luck
and Stock Downgrades: Writing Is on the Wall for A.T. Cross Company
Disclosure: Minyanville Studios, a division of Minyanville Media, has a business relationship with BlackBerry.
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