On National Underwear Day,
Mister Market was an emperor without clothes, with the Dow
(^DJI) dropping amid the most anemic volume of 2013. (Although Warren Buffett — who once opined, "Only when the tide goes out do you discover who’s been swimming naked” — was once again exempt from the malaise of us mere mortals. His Berkshire Hathaway
(BRK.B) bucked a lower overall tape after a derivatives-related earnings surge
, which really is an odd way to run a railroad, considering those dastardly financial instruments were loudly dissed by Omaha’s oracle a decade ago
.) Mr. Buffett is, of course, a big believer in newspapers, and thoroughly modern Facebook
(FB) may have been on to something in recently going gaga for such an old school medium
. While ink-stained wretches are suddenly the hottest commodity on Wall Street
, the social networking name itself jumped another 2.99%. Not that such publications are infallible, however -- far from it, to judge from Netflix
(NFLX) rising 3.11% even in the face of a prominent front page pan
. Elsewhere, pride of Ontario Canadian Solar
(CSIQ) surged 11.62% on a broker boost
. The company encouraged JA Solar
(JASO), up 4.17%, and SolarCity
(SCTY), an 8.25% gainer, to follow it in lemming like fashion. Although, being Canucks, they were exceptionally polite about it
Today’s earnings announcements are expected to include Archer Daniels Midland
(ADM), CVS Caremark
(CVS), DISH Network
(DISH), First Solar
(FSLR), Liberty Media
(LMCA), MGM Resorts
(MGM), Office Max
(POAHY), Standard Chartered
(SCBFF), 21st Century Fox
(FOX), Walt Disney
(DIS), and Zillow
(ADNC): The company is taken to Buy from Hold with a $14 price objective at Benchmark Company, which notes that the launch of its es515 earSmart processor should drive revenue growth.
(FISV): The stock is increased to Overweight from Equal Weight at First Analysis.
(RAIL): RAIL is raised to Neutral from Sell at Longbow.
InterContinental Hotels Group PLC
(IHG): IHG gets an Add-from-Hold hoist at Numis.
(MIG): Shares, fresh from Monday’s 10.61% tumble, are today upgraded to Sector Perform from Underperform at RBC Capital.
(ODFL): RBC Capital increases its investment opinion to Outperform from Perform.
Sirona Dental Systems
(SIRO): The stock is upgraded to Outperform from Market Perform by Barrington.
(VOLC): Canaccord Genuity gives the medical appliance outfit a boost to Buy from Hold.
(See also: Stock Downgrades: Big Blues for International Business Machines Corp.
and New Stock Coverage: Apollo Global Management LLC Going to Pluto?
No positions in stocks mentioned.
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