Shares advanced again, with the Nasdaq
(^IXIC) hitting its highest close since October 2000. That month the New York Yankees, led by Most Valuable Player Derek Jeter, defeated the Mets to win the World Series. Mr. Jeter was last seen slugging it out for the lowly Scranton/Wilkes-Barre RailRiders in Triple-A
; it was indeed a long time ago. So long ago in fact that Yahoo Inc.
(YHOO) was a dot-com investor darling. Mind you, the more things change, the more they stay the same. Marissa Mayer’s stock surged 4.51% on a day sisters showed Mister Market how it was done, for Meg Whitman’s Hewlett-Packard
(HPQ) rode a broker boost
to gain 1.19%. (Virginia Rometty’s International Business Machines
(IBM) did drop a Dow
(^DJI)-worst 1.89% on a downgrade
but, as Meat Loaf memorably opined, Two Out of Three Ain’t Bad.) Elsewhere, Andy Murray sponsor and recently-bombing Royal Bank of Scotland
(RBS) took inspiration from the country’s photobombing politicians
to jump 5.70%. And DIRECTV
(DTV) quite literally went to the dogs
, declining 1.65% on an otherwise up day in equities.
This morning in economics, May wholesale inventories are expected to increase from April’s amount at 10:00 a.m. Eastern. In earnings action, Burberry Group
(CVX), Family Dollar Stores
(SVU), and Yum Brands
(YUM) are all due to report results.
: Coach, Inc.
(COH) is an Outperform at BMO Capital Markets, which cites an impressive new executive bench. Meanwhile Michael Kors
(KORS) is covered at Market Perform.
Barnes Group Inc.
(B): The aerospace outfit is initiated with a Buy at Drexel Hamilton.
Baxter International Inc.
(BAX): Credit Suisse covers the medical device maker at Outperform.
Cinemark Holdings Inc.
(CNK): Ascendiant assigns a Buy on the equity.
C.R. Bard, Inc.
(BCR): Shares are set a Neutral at Atlantic Equities.
Freeport-McMoRan Copper & Gold Inc.
(FCX): FCX is a fresh Outperform at Credit Suisse.
: Citigroup begins Buys on Amazon.com, Inc.
(AMZN), AOL, Inc.
(AOL), eBay Inc
(EBAY), Google Inc
(GOOG), and a recently-resurgent Yahoo Inc.
(YHOO). It has fresh Neutrals on Facebook Inc
(FB), LinkedIn Corp
(LNKD), Yelp Inc
(YELP), and Zillow Inc
(Z). OpenTable Inc
(OPEN) is started at a Sell.
Laredo Petroleum Holdings Inc
(LPI): Canaccord Genuity launches Buy-rated research on LPI.
(NFLX): The video-steaming stock, now up 198.09% in the past year following yesterday’s 6.13% surge, is a new Neutral at Citi.
RLJ Entertainment Inc
(RLJE): Roth Capital resumes Buy-rated research on RLJE.
The Gap Inc.
(GPS): Cowen covers the khaki king at Market Perform.
(VPHM): Brean Capital begins Buy-rated coverage on the biotech.
(See also: Stock Upgrades: Bubble Wrap Maker Sealed Air Corp Poised for Nice Pop
and Stock Downgrades: Losing Faith in True Religion Apparel, Inc.
No positions in stocks mentioned.
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