In the wake of the Fed’s good ship QE sailing off into infinity, equities ended mostly underwater in a remarkably becalmed session, although Pier 1
(NYSE:ORCL) yacht-owing Larry Ellison
, and the $920 million London Whale
(NYSE:JPM) all kept the life aquatic interesting for investors. (Wait, what’s that you say? QE is not a ship that today celebrates an important anniversary
? Huh, who knew
?) Despite a 13.86% plunge in Pier, and Oracle offering up a decidedly iffy earnings outlook, there were still some notable winners. Among them Destination XL
(NASDAQ:DXLG), with the outfitter of “big and tall guys” advancing 2.76% after a broker boost
. Alas, the market decided to simultaneously short Dr Pepper Snapple
(NYSE:DPS), home of 5’2″ spokeswoman Wendy Kaufman
. It ended off 0.65% on a ratings reduction
No top-tier economic data due today — a singularly awful one in stock market history
— but Olive Garden owner Darden Restaurants
(NYSE:DRI) releases results. It’s also a “quadruple witching
” Friday, and they rarely lack action. (This phenomenon is not to be mistaken for the quartet of Fed officials addressing audiences this afternoon, in the form of Esther George (12:30 p.m. Eastern), Daniel Tarullo (12:40 p.m.), James Bullard (12:55 p.m.), and Narayana Kocherlakota (1:45 p.m.)
Allied World Assurance
(NYSE:AWH): Shares are initiated with a Perform at Keefe Bruyette, whose price objective is $103.
(NYSE:BXS): Shares are a new Hold at MLV & Co.
(NASDAQ:XONE): The stock is an Outperform at FBR Capital, whose target price is $75 as it says the sand and metal market could provide a boost to the company.
Financial Information Providers:
Goldman Sachs starts Sells on Dun & Bradstreet
(NYSE:DNB) and FactSet
(NYSE:FDS). McGraw-Hill Financial
(NYSE:MCO), and Thomson Reuters
(NYSE:TRI) are all new Neutrals.
International Business Machines
(NYSE:IBM): Cantor covers the key Dow
(INDEXDJX:.DJI) component at a Buy.
Large Cap Banks:
Société Générale has lukewarm Holds on Dow member JPMorgan Chase
(NYSE:JPM), bedeviled by the “London Whale,” and Wells Fargo
(NASDAQ:MGI): The stock is initiated with an Equal Weight at Evercore.
(NASDAQ:NPSP): JPMorgan has a new Overweight and $40 price objective.
(See also: Stock Upgrades: Ryanair Starts the Party Way Before Arriving in Ibiza
and Stock Downgrades: Clorox Taken to the Cleaners
No positions in stocks mentioned.
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