In Australia, money now literally grows on trees
. Alas, here in America, equities went Down Under and not because the dingo ate my baby
, but due to the Caterpillar
(NYSE:CAT) that swallowed the canary. The pride of Peoria slumped 6.07% and took Dow Industrials
(INDEXDJX:.DJI) down with it. Beleaguered JC Penney
(NYSE:JCP) actually surged 7.48% but too late, alas, for billionaire Bill Ackman who lost so much money in the stock he must now travel by bike
. (Rather contradicting the results of a recent survey
.) Elsewhere, it was a good day for “big and tall guys,” with Destination XL Group
(NASDAQ:DXLG) gaining 2.76% to a fresh best, and an upgraded Apollo Group
(NASDAQ:APOL), which graduated Shaquille O’Neal
, advancing 27.98% in its best day ever.
The single busiest session for third quarter earnings is upon us, with Amazon.com
(NASDAQ:AMZN), Credit Suisse
(NYSE:CS) Dow Chemical
(NASDAQ:MSFT), 3M Co
(NYSE:MMM) Under Armour
(NYSE:UA), Western Digital
(NASDAQ:WDC), and Zynga
(NASDAQ:ZNGA) all due to announce results.
(NYSE:AEM): AEM is upgraded to Outperform from Perform at BMO Capital Markets.
(NYSE:CP): Calling current targets conservative, RBC Capital raises the railroad to Sector Perform from Underperform. Its price objective is increased to $133.
(NYSE:GLW): After yesterday’s surge, shares are upgraded to Buy from Hold at Cross Research.
(NYSE:CHK): The energy name is now Buy from Neutral at Citigroup.
(NYSE:LLY): LLY is lifted to Buy from Neutral at MKM Partners.
: Bank of America-Merrill Lynch lifts BNP Paribas
(OTCMKTS:BNPQY) and Société Générale
(OTCMKTS:SCGLY), both now Buy from Neutral.
(NYSE:GS): The financial giant and Dow
(INDEXDJX:.DJI) member, whose Lloyd Blankfein has just consolidated his grip on power
, gets upgraded to Buy from Hold at Deutsche Bank. Shares, snapping a recent slide, are accordingly up as I write.
(NASDAQ:IRWD): Shares are increased to Outperform from Perform at Cowen.
(NASDAQ:JAKK): The toymaker is taken to Buy from Neutral at B. Riley & Co., whose target increases to $8.50 from $4.50.
(NASDAQ:LRCX): LRCX gets lifted to Buy from Neutral at Goldman.
(NASDAQ:URBN): Shares are upgraded to Overweight from Neutral at Atlantic Equities.
(NYSE:LCC) Shares are upgraded to Buy from Hold at Deutsche Bank.
(See also: Stock Downgrades: Caterpillar Still in the Doghouse
and New Stock Coverage: This Is Time Warner’s Moment in the Sun
No positions in stocks mentioned.
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