Maybe the government should shut down more often. Dow Industrials
(INDEXDJX:.DJI) gained 1.09% amid Washington gridlock to snap a two-week slump. In a coded message to Mr. Boehner
, No More Tears maker Johnson & Johnson
jumped 2.5%, besting the Dow
(INDEXDJX:.DJI) average on Friday following a broker boost
. Janet Yellen was nominated as the first Democrat to head the Fed since 1987; if you don’t want to be reminded of what happened later that year, look away now
. The current cover of Barron’s
("Munis on the Mend"
) is enough to turn Meredith to tears, as her eponymous investment outfit reached its Whit’s end
. (Hopefully she's still long Wipro
(NYSE:WIT), which surged 6.99%.) And as a Pope -- Alexander, actually -- once said, "To err is human; to forgive, divine
." This as the Vatican recalled a Pope Francis medal after misspelling the name "Jesus."
Indeed it was a bad time for reading, writing, and arithmetic all around, what with an unloved K12 Inc.
(NYSE:LRN) cratering 36%.
No economic data due today, and both banks and the bond market are closed for Columbus Day, but the first full week of earnings season begins with Brown & Brown
(NYSE:BRO), Dassault Systems
(OTCMKTS:DASTY), J.B. Hunt Transport
(NASDAQ:JBHT), Packaging Corp. of America
(NYSE:PKG), and Wintrust Financial
(NASDAQ:WTFC) all expected to release results.
(NYSE:AVT): Deutsche Bank downgrades the electronics outfit to Hold from Buy.
(NYSE:COH): COH is cut to Hold from Buy at Canaccord Genuity, which reduces its price objective to $62 from $65. Concerns include soft traffic trends and increased competition from Michael Kors
(NASDAQ:CWCO): Shares are cut to Hold from Buy at Brean Capital due to valuation.
(NYSE:CVA): Raymond James reduces its rating to Outperform from Strong Buy.
(NYSE:DEO): The Guinness owner gets slashed to Sell from Hold at Investec.
(NYSE:DEG): Shares are lowered to Underperform from Hold at Jefferies.
(NASDAQ:ERIC): The stock is lower in today’s European trading after being taken to Underweight from Equal Weight by Barclays.
(NASDAQ:EXPE): Deutsche Bank takes the online travel outfit to Hold from Buy amid execution issues and executive turnover.
(NYSE:HCLP): Shares get downgraded to Sector Perform from Outperform at RBC Capital.
(OTCMKTS:IFNNY): Bank of America-Merrill Lynch moves the stock to Neutral from Buy.
(NYSE:LRN): LRN, down sharply last week, is lowered to Underperform from Neutral at Bank of America-Merrill Lynch.
(NYSE:MRK): The Dow
(INDEXDJX:.DJI) member is downgraded to Perform from Outperform by Sanford Bernstein.
(NASDAQ:MYL): Morgan Stanley moves the stock to Equal-Weight from Overweight.
(NYSE:PVR): Shares are downgraded to Hold from Buy at BB&T Capital.
Royal Bank of Scotland
(NYSE:RBS): The stock is now Underperform from Neutral at Bank of America-Merrill.
(OTCMKTS:SBMRY): Citigroup slashes the brewing behemoth to Neutral from Buy.
Strategic Hotels & Resorts
(NYSE:BEE): Shares get downgraded to Buy from Strong Buy at ISI Group.
(NYSE:WAT): The stock is now Neutral from Buy at Mizuho due to uncertainty surrounding pharmaceutical end markets. Its price objective is $110.
(See also: Stock Upgrades: Liberty Interactive Is Open for Business
and New Stock Coverage: On Columbus Day, It Pays to Discover
No positions in stocks mentioned.
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