If you were Cuban — as opposed to Cuban
— you likely had a terrific Tuesday, as the ghost of communist icon Che Guevara took posthumous revenge on capitalism ahead of this, the 46th anniversary of his assassination
. The Marxist revolutionary famously adorns dorm rooms across the country, so a penny for his thoughts as Facebook
(NASDAQ:FB), founded in a dorm at Harvard, slid 6.68% as the Nasdaq
(INDEXNASDAQ:.IXIC) endured an especially tough time of it. The proximate cause for the angst in equities was, of course, our continued governmental gridlock. This as debt-ridden Japan joined
the International Monetary Fund — mostly funded by our tax dollars — and China, which just fired a Communist Party official for spending $260,000 on a wedding
, in lecturing us on the importance of living within our means. Which, coming from that unholy trinity, really is a bit rich. (For what it was worth — not much actually — Beijing matchmaking behemoth Jiayuan.com
(NASDAQ:DATE) responded to the matrimonial mayhem by tumbling 10.77%.) All this and hipsters, too? Brooklyn, already the trendiest place in America, today gets yet more good news. Admittedly, the demographics of their Girls
, aged by the recent addition of Albania’s Blerta
, are not what they were, but as its Old Gray Lady becomes Fed head
, New York’s most populous borough is laughing all the way to the bank.
Today at 2:00 p.m. Eastern, we will get meeting minutes to the Fed’s much-debated September 17-18 policy confab, at which it unexpectedly opted to keep the monetary spigot intact. In corporate earnings action, Costco
(NASDAQ:COST), Del Frisco’s Restaurant Group
(NASDAQ:DFRG), Family Dollar
(NYSE:FDO), and Fastenal
(NASDAQ:FAST) are all due to release results.
(NASDAQ:BIDU): Maxim moves the Chinese Internet outfit to Hold from Sell.
Calamos Asset Management
(NASDAQ:CLMS): Shares get upgraded to Perform from Underperform at Keefe Bruyette.
(NASDAQ:CBST): Mizuho moves the stock to Buy from Neutral with a new target price of $77 as it expects Food and Drug Administration approval of tedizolid toward mid-2014.
(NYSE:EOG): The independent oil and gas outfit is now Outperform from Neutral at Credit Suisse. Its price objective, previously $175, increases to $210.
(NYSE:HAL): Raymond James raises the oil services firm to Outperform from Market Perform.
(NYSE:MAS): MAS is moved to Neutral from Underweight at JPMorgan.
(NYSE:MCK): Raymond James raises its recommendation to Outperform from Market Perform.
Michael Kors Holdings Ltd
(NYSE:KORS): Citing a “staggering increase in mindshare” at the fashion firm, Piper Jaffray juices its rating to Overweight from Neutral. The stock, already up an impressive 32.98% over the past year, is gaining again ahead of the open as a result of the analyst’s upbeat action.
(NYSE:OC): JPMorgan increases OC to Overweight from Neutral.
(NYSE:AMTD): AMTD is taken to Perform from Underperform at Keefe Bruyette, which also boosts its target price by $3 to $27.
(NYSE:TK): The tanker stock is hoisted to Overweight from Equal Weight by Barclays. Its price objective, previously $35, is now $56.
(See also: Stock Downgrades: K12 Inc. Goes Dunce Cap in Hand
and New Stock Coverage: Ruby Tuesday Neither Day Late Nor Dollar Short
No positions in stocks mentioned.
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