Shiller won an economics Nobel while getting out of the shower
, but investors mercifully managed to recover from their early (bubble
) bath. Assisted, it must be added, by a 2.10% Columbus Day jump in Columbus-based Bath & Body Works owner L Brands
(NYSE:LTD). The Dow
(INDEXDJX:.DJI), down an Econ 101 during the morning’s depths, ended up 64 by the afternoon amid signs of progress on Capitol Hill. Equities have thus advanced for four straight sessions although, compared with Wall Street’s showing 17 years ago to the day
during irrationally exuberant 1996, the gains were small potatoes.
As Stockholm honored a man who presciently warned of a housing house of cards in 2004
(NASDAQ:NFLX) surged 7.82% to top the S&P 500 Index
(INDEXSP:.INX) due to the success of its House of Cards
. (This on a day D.R. Horton
(NYSE:DHI) tumbled 2.14% in a terrible tape for homebuilders.) Speculation raged that Microsoft
(NASDAQ:MSFT) may choose Mark Hurd, a man hounded out of Hewlett-Packard
(NYSE:HPQ) for alleged sexual harassment
, as its next CEO. On this, the 22nd anniversary of Clarence Thomas’ confirmation
to the Supreme Court, even one of Warren’s protégés
finds himself ensnared in a similar scandal.
There isn’t any top-tier economic data due today but third quarter earnings season starts in earnest with Charles Schwab
(NASDAQ:INTC), Johnson & Johnson
(NYSE:MOS), and Yahoo
(NASDAQ:YHOO) all due to report results.
(NASDAQ:CCOI): Citigroup boosts the stock to Buy from Neutral.
(NYSE:ESI): ESI is increased to Outperform from Market Perform with Wells Fargo.
(NASDAQ:MSFT): The maker of Xbox and Windows is showing strength this morning after being moved to Buy from Hold at Jefferies. Its price objective, previously $33, increases to $42. In the bank’s opinion, Office 365 cloud strategies offer promise.
(OTCMKTS:SHCAY): Jefferies juices the Japanese electronics giant to Hold from Underperform.
(NASDAQ:TSLA): The cult car company is taken to Outperform from Neutral with Wedbush, which says a hitherto-skeptical public is gradually coming around to the idea of electric vehicles.
(NASDAQ:TXN): Susquehanna boosts the semiconductor stock to Neutral from Negative.
Zurich Insurance Group
(OTCMKTS:ZURVY): Shares are showing strength in today’s European trading after getting taken to Neutral from Underweight at JPMorgan.
(See also: New Stock Coverage: Advance Auto Parts Hits a Pothole
and Stock Downgrades: Default Lies With Dassault
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.