A week that started with Summers
, ended in fall
, and witnessed the return of Winters
will ultimately be best known for the surprise Ben Bernanke opted to spring on the stock market. S&P 500
(INDEXSP:.INX) shares hit a historic high after the Federal Reserve unexpectedly opted to continue its policy of quantitative easing. As Nasdaq
(INDEXNASDAQ:.IXIC) reached a fresh 13-year peak, constituent component Priceline
(NASDAQ:PCLN) boldly went where no such stock had gone before
. With shares approaching Pluto, pity its Captain Kirk is scared of flying
. Investors jumped off Pier 1
(NYSE:PIR), which nosedived 9.16%, and sent BlackBerry
(NASDAQ:BBRY), whose latest launch took place on Pier 36
, under water to the tune of 15%.
There isn’t any top-tier economic data due today, but Red Hat
(NYSE:RHT) is expected to announce its quarterly earnings.
(NASDAQ:BBRY): The firm from Waterloo, Ontario, is lowered to Hold from Buy at Jefferies and to Underperform from Sector Perform at RBC Capital, whose target is taken to $5 from $15. The stock also scored an analyst upgrade today but these downgrades currently appear to be carrying more weight since shares, which fell 17.06% on Friday, are showing further weakness this morning.
(NASDAQ:CTRX): Morgan Stanley moves the stock to Equal-Weight from Overweight.
(NYSE:DRI): The Olive Garden owner gets slashed to Equal Weight from Overweight at Stephens.
(NASDAQ:DWA): B. Riley & Co. reduces its rating to Neutral from Buy due to valuation concerns.
(NYSE:FDX): Stifel Nicolaus slashes the stock to Hold from Buy.
(NYSE:KORS): Shares are cut to Hold from Buy at Jefferies. The price objective, previously $85, is now $80.
(NYSE:OIS): Global Hunter Securities gives the energy outfit a Neutral-from-Buy downgrade. Its target price goes to $81 from $92.
(NYSE:COL): Credit Suisse cuts the aerospace name to Neutral from Outperform.
(NYSE:SEE): The Bubble Wrap maker, fresh from Friday’s 4.26% fall, gets slashed to Equal Weight from Overweight by Barclays.
(NYSE:LUV): Bank of America-Merrill Lynch lowers its investment opinion to Neutral from Underperform.
(NASDAQ:ULTA): Jefferies cuts the cosmetics company to Hold from Buy.
(See also: New Stock Coverage: Stratasys Stock Going Through the Stratosphere
and Stock Upgrades: Sherwin-Williams Paints Town Red, Tape Green
Disclosure: Minyanville Studios, a division of Minyanville Media, has a business relationship with BlackBerry.
No positions in stocks mentioned.
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