They say never wear white after Labor Day, but yesterday a benign beige book
was just fine for equities. Dow Industrials
(INDEXDJX:.DJI) enjoyed their single best session in five weeks as Ford
(NYSE:F) and General Motors
(NYSE:GM) — up a respective 3.49% and 5.01% — each breathed new life into moribund Motown. This as home state hero the University of Michigan gleefully pocketed $200 million
even while simultaneously saying that being a cheapskate is the only ticket to true love
. They know a thing or two about thrift in Scotland, where a couple just tied the knot for $1.56
. Still, on the birthday of Beyoncé
, someone was splashing cash to “put a ring on it.” Diamond retailer Zale Corp
(NYSE:ZLC), up more than 30% last week, rose another 6.25%. Penney
(NYSE:JCP) pinchers fear not, however, for that stock survived an iffy analyst initiation
to jump 6.13%.
Today in economics, consensus calls for a falloff in factory orders for July and August’s Institute for Supply Management non-manufacturing index, each out at 10:00 a.m. Eastern. On the quarterly earnings front, Conn’s
(NYSE:ZQK), Smith & Wesson
(NASDAQ:SWHC), and VeriFone
(NYSE:PAY) are all expected to release results.
Advanced Energy Industries
(NASDAQ:AEIS): Raymond James resumes the diversified electronics outfit at an Outperform.
(NYSE:AGCO): Morgan Stanley starts the stock at Overweight.
(NASDAQ:MDRX): The medical appliance firm is a fresh Hold at KeyBanc Capital Markets.
(NYSE:CAT): The company, a key Dow
(INDEXDJX:.DJI) component, is covered at Equal-Weight by Morgan Stanley.
(NYSE:DE): The tractor titan gets assigned an Underweight at Morgan Stanley.
(NYSE:GWAY): KeyBanc Capital starts the stock at a Buy.
(NYSE:JONE): The independent oil and gas outfit gets begun with Buys at both Jefferies and Stifel ($20 target price.)
(NYSE:JOY): Morgan Stanley starts the maker of mining equipment at Equal-Weight.
(NYSE:NOK): There’s no keeping the Finnish telecom firm out of the news this week. Today it is set a fresh Equal-Weight at Morgan Stanley.
Spectrum Brands Holdings
(NYSE:SPB): Credit Suisse has a new Neutral on the consumer goods name, whose offerings include George Foreman and Remington.
(NASDAQ:SBUX): The coffee king, whose shares closed at $72.14 on Wednesday, is established at Outperform with Wedbush. Its price objective is $80.
(NASDAQ:TRMB): Robert W. Baird resumes Outperform-rated research and assigns a price objective of $36. The stock stands to benefit from burgeoning worldwide demand for mobile automation, in the broker’s estimation.
(NYSE:URI): Shares are picked up at Equal-Weight by Morgan Stanley.
(See also: Stock Upgrades: Groupon Is Your Deal of the Day
and Stock Downgrades: Tears at Comedy Central Owner Viacom
No positions in stocks mentioned.
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