Beige Books and gray suits
helped to keep stocks in the pink. Shares rose for a ninth session in 10 after the Fed’s regional economic survey and Ben Bernanke’s cautious Capitol Hill testimony were each well received by investors. Yahoo
(YHOO), home to Flickr and Tumblr, can now afford to buy a vowel after surging 10.34% to top the S&P 500
(^GSPC). Auto firms Ford
(F) and Tesla
(TSLA) U-turned impressively from Tuesday’s downgrade-related
tumbles. Clearly, news that a 14-month-old just bought a car on eBay Inc.
(EBAY) helped to boost the sector. (Although not, alas, eBay itself, which is slumping some 6% as we speak.) Elsewhere, Adobe
(ADBE) was sitting pretty, advancing 1.17% on a broker boost
. Unfortunately, a Hollywood actress doesn’t have a leg to stand on after an epic Photoshop fail
Today in economics, July’s Philadelphia Fed Index and June leading indicators are each released at 10:00 a.m. Eastern. Fed head Ben Bernanke concludes his two-day testimony on Capitol Hill. And earnings announcements are expected out of Advanced Micro Devices
(BLK), Capital One Financial
(COF), Chipotle Mexican Grill
(MSFT), Morgan Stanley
(NOK), United Health
(UNH), and Verizon
Aegean Marine Petroleum Network
(ANW): Stifel starts the tanker stock at a Buy with a $14 price objective amid its ongoing expansion of land-based fuel storage facilities.
(CME): The exchange operator is covered with a Hold at Argus. A strong underlying story is balanced out by year-to-date outperformance that has left valuation stretched.
Fiesta Restaurant Group Inc
(FRGI): Wells Fargo has a fresh Outperform on FRGI.
(GUID): GUID gets assigned a Buy at B. Riley.
(PCYC): Shares are picked up at Outperform by Robert W Baird.
(SGI): Citing the impressive turnaround efforts of newly-installed management, Needham begins Buy-rated research. Its price target is $22.
Southern First Bancshares
(SFST): Keefe Bruyette covers the company at Outperform.
: Macquarie launches Landstar System
(LSTR) at Outperform and has new Neutrals on JB Hunt
(JBHT) and Universal Truckload Services
21st Century Fox
(FOXA): The recent spin-off is begun with an Outperform by Sanford Bernstein.
(UA): The maker of athletic apparel is a new Outperform with Wedbush.
(See also: Stock Upgrades: PetSmart, Inc. in the Catbird Seat
and Stock Downgrades: eBay Inc’s Attic Is Empty
No positions in stocks mentioned.
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