If Monday was all about The Sweet Smell of Success
, to quote an memorable mid-century movie featuring public relations flacks, Tuesday brought us only the awful stench of fertilizers. Investors apparently didn’t mind holding their noses, however, for even a 28.55% tumble in Intrepid Potash
(IPI) failed to prevent most stocks from ending up amid late-session strength. President Obama talked economics in Chattanooga, home to the most famous Choo Choo in history. His address didn’t exactly win over the locals
, but training still easily beat Coach
-ing (COH), as the handbag maker slumped some 7.87%. Some serious issues thus confront its CEO Lew Frankfort only 24-hours away from the hot dog days of August. The frankfurter fared almost as poorly, with Nathan’s Famous
(NATH) falling 4.38% to extend its recent nose-dive. And one day after a Bankrate
(RATE) survey showed Americans deserting equities in droves
, its own stock surged 17.17% on a broker boost
Today in economic data, the July Chicago Purchasing Managers Index is expected to improve from the prior month’s pace at 9:45 a.m. Eastern. The Federal Open Market Committee concludes its two-day policy meeting, with an interest rate announcement anticipated at 2:00 p.m. Eastern. On the earnings front, Allstate
(BUD), BNP Paribas
(BNPQY), CBS Corp
(VLKAY), Whole Foods
(SODA), Dreamworks Animation
(DWA), and Yelp Inc.
(YELP) are all due to report results.
: Cablevision Systems Corporation
(CVC) is assigned a pessimistic Underweight by Barclays, which establishes Overweights on Comcast
(CMCSA), DISH Network
(DISH), Sirius XM Radio
(SIRI), and Liberty Media
(LMCA). Equal-Weights are rolled out on Time Warner Cable
(TWC) and DIRECTV
(GDP): GDP gets begun with a Buy at SunTrust.
(INSY): Oppenheimer assigns an Outperform and $23 target price on INSY, for whom an essentially liquid formulation of marijuana offers potential promise. The firm’s Oral Dronabinol can capture a share of the chemotherapy-induced nausea and vomiting market, the bank believes.
Susser Petroleum Partners
(SUSP): Shares are started with a Buy recommendation and $35 price objective by Benchmark Company, which believes opportunities abound as regards growth and operating margins.
(See also: Stock Upgrades: Swim With the Sharks of Discovery Communications Inc.
and Stock Downgrades: Intrepid Potash, Inc. Goes to Pot
No positions in stocks mentioned.
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