The long and the short of it? On his birthday
, left-leaning economist John Kenneth Galbraith — who stood 6 feet, 8 inches — temporarily triumphed over laissez-faire champion Milton Friedman, who topped out at 5’0.″ (Never mind that the latter will always be the true giant to many of us.) On a bad day for capitalism, Dow Industrials
(INDEXDJX:.DJI) dropped by triple digits amid more political mayhem. It was an especially tall Sir Lancelot — or long knight
— for Burberry
(OTCMKTS:BURBY), which imploded 8.39% after Apple
(NASDAQ:AAPL) picked off its top executive.
With nothing else working in our nation’s capital, Mr. Smith Goes to Washington
did prove profitable, as FedEx’s
(NYSE:FDX) CEO saw his stock surge
4.08%. Also bucking a bad tape was an upgraded Microsoft
(NASDAQ:MSFT). Its PowerPoint is suddenly all the rage among Iran’s mullahs
. But I’ve bad news for the Barbie-banners
(NASDAQ:MAT) is surging some 5.42% after it beat the Street this morning.
Today in economics, the Fed will release its Beige Book, detailing economic conditions in a dozen districts, at 2:00 p.m. Eastern. Hump Day of the first full week for third quarter earnings announcements is upon us, with American Express
(NYSE:AXP), Bank of America
(NYSE:BAC), eBay Inc
(NASDAQ:EBAY), International Business Machines
(NYSE:IBM), and PepsiCo
(NYSE:PEP) among a multitude of big names due to report results.
(NYSE:ALK): Shares, soft of late, get upgraded to Outperform from In-line Imperial Capital, which also increases its price objective by $7 to $70 from $63. The broker believes competitive concerns regarding Delta
(NYSE:DAL) may be overstated.
(NASDAQ:AAPL): Deutsche Bank adds the stock to its Short Term Buy List.
(NYSE:BT): The British telecom titan is bucking a broadly lower London tape today after being added to the Conviction Buy list at Goldman Sachs.
(NYSE:SCHW): The stock, up sharply yesterday, is now Neutral from Sell at Compass Point amid an increasingly attractive interest rate environment. Its price objective, previously $17, gets taken to $20.
(OTCMKTS:DPSGY): HSBC Securities hoists the stock to Neutral from Underweight.
(NYSE:EW): EW is increased to Buy from Neutral at Citigroup.
(NASDAQ:INTC): The semiconductor stock, a key Dow
(INDEXDJX:.DJI) component, gets a Buy-from-Hold après-earnings upgrade at B. Riley & Co.
(NYSE:JNPR): MKM Partners takes the tech stock to Buy from Neutral.
Marsh & McLennan
(NYSE:MMC): Credit Suisse moves its fellow financial firm to Outperform from Neutral.
Melco Crown Entertainment
(NASDAQ:MPEL): Jefferies juices its investment assessment to Buy from Hold.
(NYSE:PSO): The Financial Times
publisher is hoisted to Hold from Sell at Société Générale.
(NYSE:S): Shares get upgraded to Outperform from Neutral at Macquarie.
(NASDAQ:YHOO): Crédit Agricole raises its rating to Outperform from Underperform.
(See also: Stock Downgrades: Now’s Not the Time to Be Overweight Vivus
and New Stock Coverage: Mice at Whole Foods? Fat Cats Don’t Care
No positions in stocks mentioned.
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