Stocks surged yet again, with the Dow
(INDEXDJX:.DJI) now up for three straight sessions in the sort of day only Michael Moore could dread. Compounding his misery was news that Midland, Texas — indelibly associated with Dubya — has the highest median household income in America
. Still, the filmmaker should keep his chin up
, so to speak, for Kythera Biopharmaceuticals
(NASDAQ:KYTH) gained 25.11% to top the entire Nasdaq Index
(INDEXNASDAQ:.IXIC) on high hopes for its…well, you know
. Not all shares shared in the overall ebullience. Hooker Furniture
(NASDAQ:HOFT) fell 1.76% and fragrance maker Coty Inc.
(NYSE:COTY) — home to a scent Lady Gaga says “smells like an expensive hooker
” cratered 3.35% to a fresh low. One only hopes all these oldest professionals turned to the portfolio protection
of Trojan condoms maker Church & Dwight
(NYSE:CHD), which jumped 2.20% on a broker boost. Alas, BigChurch.com parent FriendFinder
(OTCMKTS:FFNT), better known as the owner of Penthouse
, fared less well, imploding 83.84% after entering chapter 11
. These days, “friends” are found not in musty magazines but on Facebook
(NASDAQ:FB), which advanced 6.02% to buck a three-session slump in some style.
Today the Federal Open Market Committee concludes its two-day policy setting meeting in Washington, DC, with an interest rate announcement expected at 2:00 p.m. Eastern. Ben Bernanke is due to host a press conference at 2:30 p.m. In corporate earnings action, Cracker Barrel
(NYSE:FDX), General Mills
(NYSE:GIS), Manchester United
(NYSE:MANU), and Oracle
(NYSE:ORCL) are all slated to release results.
(NYSE:ALL): Guggenheim begins the insurance outfit with a Buy rating and $63 price objective.
(NASDAQ:ARUN): Shares are set an Overweight at Piper Jaffray, whose target is $26.
(NYSE:FI): UBS has a fresh Buy on the oil and gas firm and Barclays (Overweight with a $35 price objective) is equally upbeat. Goldman Sachs, with a new Neutral, advises greater caution.
(NYSEMKT:NGD): Barclays begins coverage at Equal Weight. Its price target is $8.
(NYSE:NUE): NUE is a new Outperform at BMO Capital Markets, whose target price target is $54.
Phillips 66 Partners
(NYSE:PSXP): The limited partnership is picked up with a Neutral at Citigroup.
(NYSE:SMG): Shares are a new Neutral at Janney.
(NASDAQ:SCTY): Citing the stock’s steep valuation, even as an investment tax credit ultimately bodes well, Robert W. Baird resumes the alternative energy name at a Neutral. Its target is $37.
: Credit Suisse covers dual Dow
(INDEXDJX:.DJI) components AT&T Inc
(NYSE:T) (Outperform) and Verizon
(NYSE:VZ) (Neutral), has a bearish Underperform on Sprint Corporation
(NYSE:S), and establishes Outperform-rated research on T-Mobile US
(NYSE:TFX): The medical appliance outfit is assigned an Outperform and $94 target at JMP Securities.
(NYSE:X): BMO Capital Markets covers the commodity company at a Market Perform. Its objective is $19.
(See also: Stock Upgrades: Tilly’s Is a Teenage Dream
and Stock Downgrades: Procter & Gamble Is All Out of Luvs
No positions in stocks mentioned.
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