Shares surged yet again in the sort of session only Occupy Wall Street, celebrating their second anniversary
, could complain about. (Then again, for the organization to protest making money really would be a bit rich
.) The Nasdaq
(INDEXNASDAQ:.IXIC) hit a new 13-year high, paced by a 25.11% gain in double-chin
drug maker Kythera Biopharmaceuticals
(NASDAQ:KYTH) because, well, Anjelica Huston, we have a problem
With all eyes on the imminent end of the good ship QE, Royal Caribbean Cruises
(NYSE:RCL) rose for a remarkable — and record-breaking — 13th successive session. This as Carnival Corporation’s
(NYSE:CCL) Costa Concordia emerged at last from its watery depths
. In analyst action, Franklin Covey
(NYSE:FC), of Seven Habits
fame, jumped 6.32% on a broker boost
, and Fifth Third
(NASDAQ:FITB) was at sixes and sevens after a rating reduction
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:AYI): UBS lowers the lighting name to Neutral from Buy.
(NYSE:CAT): The company, a key Dow
(INDEXDJX:.DJI) component, is reduced to Neutral from Buy at Robert W. Baird. Issues in both mining and earth moving equipment are likely to be an overhang, the bank believes.
: Barclays cuts Clorox
(NYSE:CLX) to Underweight from Equal Weight and inflicts an Equal Weight-from-Overweight rating reduction on Procter & Gamble
(NYSE:PG), the Dow member whose ubiquitous brands include Charmin, Gillette, and Luvs. P&G’s shares are treading water until the company produces a quicker growth rate.
(NASDAQ:RDEN): B. Riley & Co cuts the cosmetics company to Neutral from Buy.
(NYSE:EXC): RBC Capital Markets moves the nuclear power play to Sector Perform from Outperform.
(NASDAQ:INTU): The TurboTax owner is taken to Underweight from Equal-Weight at Morgan Stanley.
James River Coal
(NASDAQ:JRCC): The commodity company gets moved to Underweight from Hold by BB&T Capital Markets.
(NYSE:JOY): Robert W. Baird gives JOY a Neutral-from-Buy downgrade, trimming its target price by $2 to $55 amid ongoing uncertainty in Latin America.
(See also: New Stock Coverage: Sprint Stuck in the Starting Blocks
and Stock Upgrades: Tilly’s Is a Teenage Dream
No positions in stocks mentioned.
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