Stocks suffered serious misfortune by the end of a week that began with a man named Goodluck ringing the closing bell
. (Or opening bell
, according to Wall Street
‘s erroneous newspaper of record, whose miserable time of it was compounded when its archrival the New York Times
(NYSE:NYT) surged some 7.29%.) With the S&P 500 Index
(INDEXSP:.INX) having now slumped in six of the past seven sessions, financials fared particularly poorly. Goldman Sachs
(NYSE:GS), in its first week as a Dow
(INDEXDJX:.DJI) component, propped up that entire index in falling 5.8%. This as Dominique Strauss-Kahn reduced the reputation of investment bankers even further
in the public’s estimation, assuming that was possible.
Robin Williams returned to our screens as a Madison Avenue executive in The Crazy Ones
, which you’d have to be in order to make the recent performance of hedge funds, now allowed to advertise
, look good. Speaking of hedgies, Bill Ackman
and his new favorite frenemy Dan Loeb
are apparently the only people in America still writing letters, which explains the sorry state of the Post Office
Today in economics, analysts expect an uptick in September’s Purchasing Managers’ Index at 9:45 a.m Eastern. On the corporate front, Cal-Maine Foods
(NASDAQ:CALM), Diamond Foods
(NASDAQ:PAYX), and Park Electrochemical
(NYSE:PKE) are all due to release quarterly results.
(NYSE:CHS): Barclays covers the clothing company with an Equal Weight rating and $19 price objective.
(NASDAQ:CONE): Evercore assigns an Overweight on the Real Estate Investment Trust. Its target price is $24.
EQT Midstream Partners
(NYSE:EQM): The limited partnership gets launched with a Buy at Goldman Sachs.
(NASDAQ:MKTO): The application software outfit is initiated at an Outperform with Wells Fargo.
(NASDAQ:NTES): BNP Paribas begins Buy-rated research on NTES.
(NYSE:NEE): UBS has a new Neutral on the electric utility.
(NYSE:PVR): Shares are picked up with a Buy at Citigroup.
(NYSE:SYN): Maxim Group assigns a Buy rating and $3 target on the micro-cap, citing its principal product Trimesta to treat relapsing-remitting multiple sclerosis (RRMS) in women.
(See also: Stock Upgrades: Buy Smucker Ahead of Washington Logjam
and Stock Downgrades: Panera, Done Breaking Bread, Now Breaking Bad
No positions in stocks mentioned.
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