Today will be predictably dominated by Apple
(AAPL), but yesterday was all about pie, as the S&P 500
(^GSPC) snapped a four-session win streak to slip 3.14
points. (And how could we forget Mom? Not when Wendy’s
(WEN), whose advertising subliminally honors all matriarchs
, advanced 8.23%? For good measure, England’s Premier Foods
(LON:PFD) surged 6.2%, as citizens bought its Mother’s Pride bread
en masse to celebrate the royal birth.)
An analyst upgrade
sent Milton Bradley’s Hasbro
(HAS) up 2.05%, and Milton Hershey
(HSY) saw his stock hit the highest level in its history on a similar broker boost. Free market Milton Friedman would surely approve. Alas, Marissa Mayer’s suddenly shunned Yahoo
(YHOO) is unlikely to be singing, “Hey Mickey, you’re so fine
” after her abrupt exit
This morning in economics, analysts expect an increase in June new home sales at 10:00 a.m. Eastern. On the corporate front, the midpoint of the busiest week for quarterly earnings announcements is upon us. Today’s results are due to include Akamai
(DDAIF), Eli Lilly
(QCOM), and Visa
(AAPL): The long-suffering stock is upgraded to Outperform from Market Perform by BMO Capital. Shares are currently up more than 4% after last night’s well-received earnings announcement.
(DHI): Compass Point hoists the homebuilder to Buy from Neutral.
(ERJ): The Brazilian jet maker is moved to Neutral from Underweight at JPMorgan.
(IRWD): Shares are upgraded to Hold from Sell at Cantor Fitzgerald, whose price objective increases to $10 from $7.00 amid a more compelling valuation and greater expense control.
(JNPR): UBS juices the fiber optic firm to Buy from Neutral.
(LMT): Bank of America-Merrill Lynch lifts the resurgent aerospace firm to Neutral from Underperform.
(MTG): MTG is moved to Positive from Neutral at Susquehanna.
(ST): Oppenheimer increases its investment assessment to Outperform from Perform.
(SCBFF): The British financial firm is moved to Equal-Weight from Overweight at Morgan Stanley.
(TCB): FBR Capital takes the stock to Perform from Underperform, in the process increasing its price target by $7.50 to $17. Catalysts include fee income growth and improving credit quality.
(AMTD): The biggest domestic discount brokerage, fresh from reporting 20% increase in Q2 profit, gets upgraded to Neutral from Sell at Goldman Sachs.
(VMW): Raymond James raises the tech name, surging some 13.02% as I write, to Outperform from Perform.
(VOD): The telecom firm is added to UBS’s European key call list.
(WEN): The fast food firm, fresh from yesterday’s 8.23% Q2 earnings-related advance, is today taken to Neutral from Sell at Goldman Sachs.
(See also: Stock Downgrades: Norfolk Southern Corp. Heads South in a Hurry
and New Stock Coverage: Stock Up on Costco Wholesale Corporation
No positions in stocks mentioned.
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