Far be it for me to malign the fine folks on the Supreme Court, for that august institution is actually the only branch of government doing any work at the moment, but their recent decision to take on a case of Raging Bull
is a clear sign that the bear is here. Dow Industrials
(INDEXDJX:.DJI) duly dropped again amid signs the shutdown may be more protracted than previously expected. Not a great day to debut your stock, one would think, yet The Empire State
Building (NYSE:ESRT) owner was among a trio of new names to end up. (Any outfit that can survive the seemingly mortal blows of both King Kong
and Anthony Weiner
has unequivocally earned its success.)
Elsewhere, any year the government goes dark is the kiss of death for Hugh Grant. In 1995 he had to endure Jay Leno’s “What the hell were you thinking?
” interrogation after the Divine Brown incident. And yesterday his Monsanto
(NYSE:MON) fell after issuing iffy earnings. Mr. Grant has aged quite noticeably from his from his Four Weddings and a Funeral
heyday, and yesterday one funeral was quite sufficient for Clear Channel Outdoor Holdings
(NYSE:CCO). The advertiser, whose bright idea in Britain was to put a Walking Dead billboard right next to a funeral parlor
, jumped 11.39%.
Today in economics, analysts expect to see a slippage in September’s Institute for Supply Management services index at 10:00 a.m. Eastern. On the corporate earnings front, Comtech Telecommunications
(NASDAQ:CMTL), Constellation Brands
(NYSE:STZ), International Speedway
(NASDAQ:ISCA), and Xyratex
(NASDAQ:XRTX) are all due to release results.
(NYSE:AUQ): Raymond James juices the commodity company to Outperform from Market Perform.
(NASDAQ:BBRY): Shares, downgraded elsewhere today, are now Neutral from Sell at Citigroup.
(NASDAQ:FIVE): Sterne Agee raises the retailer to Buy from Neutral, sending shares up this morning.
(NYSE:HTS): Keefe Bruyette raises the residential Real Estate Investment Trust to Outperform from Market Perform.
(NYSE:NSC): The railroad name is now Outperform from Perform at Avondale.
(NASDAQ:RVBD): RVBD is raised to Sector Perform from Underperform at RBC Capital.
Tate & Lyle
(OTCMKTS:TATYY): Goldman Sachs gives the British maker of sugar and much else a Neutral-from-Sell increase.
(NYSE:TX): Morgan Stanley moves the steel stock to Overweight from Equal-Weight.
(OTCMKTS:TSCDY): The English grocer, now Neutral from Sell, gets an après earnings upgrade at Citigroup.
(NASDAQ:ULTA): Citigroup adds the cosmetics company to its U.S. Focus List of favored equities.
(NASDAQ:VVUS): The maker of diet drug Qsymia is upgraded to Outperform from Market Perform at Cowen. As a result its shares, up 8.64% in yesterday’s down market, are adding to gains ahead of the open.
(NYSE:VMW): FBN Securities takes the tech stock to Outperform from Sector Perform, in the process increasing its price objective by $10 to $100.
(See also: Stock Downgrades: Fair-Weather ‘Friends’ Flee Facebook
and New Stock Coverage: Noodles & Co Looks a Little Limp
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