They say history doesn’t repeat but, thanks to bunk, junk Splunk
(NASDAQ:SPLK) and punk, last week it did definitely rhyme. Stocks snapped a four-week losing streak as the aforementioned poetic quartet enlivened holiday-shorted activity in equities. Ford
(NYSE:F), whose founder famously said “history is bunk,” jumped 5% after emerging from junk
. As for the beloved
application software stock, it rose 15.17% to finish Friday at a fresh 52-week peak. And Yahoo’s
(NASDAQ:YHOO) Marissa Mayer, of punk hairdo fame
, unveiled the company’s first new logo redesign in 18 years. Ms. Mayer, being of Finnish heritage
, will have enjoyed seeing pride of Helsinki Nokia
(NYSE:NOK) gain 40.6%. This, the year of the snake, has literally been good
to the erstwhile tech titan. Alas Microsoft
(NASDAQ:MSFT), its merger partner, slid 6.7% as investors recoiled from the unimaginative idea of replacing a middle aged CEO named Steve with one called Stephen.
Today in economics, analysts call for a contraction in July consumer credit at 3:00 p.m. Eastern. In earnings action, Hovnanian Enterprises
(NYSE:HOV), Palo Alto Networks
(NASDAQ:PANW), Pep Boys-Manny, Moe & Jack
(NYSE:PBY), and PVH Corp
(NYSE:PVH) are all due to report results.
Apparel & Accessories
: Nomura has new Neutrals on Aéropostale
(NYSE:ARO),American Eagle Outfitters
(NYSE:AEO), Ann Inc
(NYSE:ANN), Buckle, Inc.
(NASDAQ:FOSL), Gap Inc.
(GPS), L Brands
(NYSE:LTD), and Urban Outfitters
(NASDAQ:URBN). It begins Buys on Abercrombie & Fitch
(NYSE:ANF), Chico’s FAS
(NYSE:CHS), Express, Inc.
(NYSE:EXPR), and Francesca’s
(NYSE:DPZ): KeyBanc has a Buy on the fast food firm.
Lululemon Athletica inc.
(NASDAQ:LULU): The yoga apparel company, which has endured a difficult year amid an executive departure and sheer pants problem, is begun with an upbeat Buy at Citigroup. The bank cites potentially better profit margins and sales going forward.
(NYSE:OSK): The trucking name is resumed at a Sector Perform by RBC Capital Markets.
(NYSE:PDS): Barclays picks up PDS at an Equal-Weight.
: William Blair assigns Outperforms on both Standard & Poor’s owner McGraw-Hill Financial
(NYSE:MHFI) and Moody’s
(NYSE:SIG) Shares are started with a Buy at Nomura.
(NYSE:S): Evercore establishes the telecom stock at Equal-Weight.
Third Point Reinsurance
(NYSE:TPRE): The property and casualty name is a new Neutral at JPMorgan but Bank of America-Merrill Lynch, with a Buy, is more bullish.
Ulta Salon, Cosmetics & Fragrance, Inc.
(NASDAQ:ULTA): Citigroup starts the stock with a Buy and establishes a price objective of $125.
Wal-Mart Stores, Inc.
(NYSE:WMT): The key Dow
(INDEXDJX:.DJI) component is covered with a Buy at Goldman Sachs, which highlights its “modest but durable growth profile.”
(See also: Stock Upgrades: Pucker up to Estee Lauder
and Stock Downgrades: Not Even John Stamos Can Save Danone
No positions in stocks mentioned.
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