And on the eighth day, stocks rested. The S&P 500 Index
(INDEXSP:.INX) slipped for the first time in September, snapping a seven-session winning streak on a day only H.L. Mencken could love. The bard of Baltimore, whose birthday was September 12, was no fan of finance, caustically calling Wall Street "a thoroughfare that begins in a graveyard and ends in a river." The church associated with said graveyard is actually the Street’s most reliable money-making machine, thanks to a $2 billion gift from Queen Anne of England
. It’s the rivers that are currently causing problems. Or, more accurately, other bodies of water. Fresh from Coldwater Creek’s
(NASDAQ:CWTR) 29.93% tumble on Wednesday, streaming issues
(NASDAQ:NFLX) sink 2.24% 24 hours on. At least Disney
(NYSE:DIS) doesn’t need the Caribbean Ocean
, with the company gaining 2.42% to best all blue chips. Moving from Jack Sparrow to Jack Dorsey, Twitter’s bluebird is about to become very rich
. Not to be outdone, Red Robin
(NASDAQ:RRGB) rose 0.87% to an all-time high.
Today in economics, the preliminary Thomson Reuters/University of Michigan September consumer sentiment survey is out at 9:55 a.m. Eastern, and July business inventories follow at 10:00 a.m. On the corporate front, Pier 1 Imports
(NYSE:PIR) is the pick of quarterly earnings announcements.
(NYSE:ALU): The telecom stock is taken to Perform from Outperform by BMO Capital Markets.
(NASDAQ:BRC): Shares are now Neutral from Outperform with a $33 target price at Robert W. Baird, which cites operational challenges.
(NYSE:DSX): The stock gets downgraded to Hold from Buy at Deutsche Bank.
Harmony Gold Mining
(NYSE:HMY): Goldman Sachs cuts the commodity company to Sell from Neutral.
: Sanford Bernstein inflicts Market Perform-from-Outperform ratings reductions on Ensco
(NYSE:ESV), Noble Corp
(NYSE:NE), and Transocean
(NYSE:TEVA): Shares are moved to Neutral from Overweight at JPMorgan, which also trims its price objective by $2 to $43.
(NYSE:UA): The athletic apparel name is now Neutral from Outperform at Credit Suisse.
(NYSE:VSI): Sterne Agee slashes the stock to Neutral from Buy.
(See also: Stock Upgrades: Verizon Is Moving On Uptown
and New Stock Coverage: Urban Outfitters Boosted by Socks and the City
No positions in stocks mentioned.
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