October 24 does not have a happy history on Wall Street — 1929 and all that
— but, helped by a car company whose founder famously said “history is bunk,” stocks bounced back from Wednesday’s wobble to end up. Ford’s
(NYSE:F) 1.37% post-earnings increase to a multi-year peak set the tone for several upbeat quarterly reports. The S&P 500 Index
(INDEXSP:.INX) is thus up in six of its past seven sessions, even as nine lives expired elsewhere. Fat cats were thin on the ground as Arctic Cat
(NASDAQ:ACAT) tumbled 12.81% and strong Caterpillar
(NYSE:CAT) followed Wednesday’s 6.07% slide by incurring a rating reduction
. Adding to the angst for our feline friends, Goldman Sachs
(NYSE:GS) — no fan of cute cuddly kittens
— gained 1.41% on a broker boost
. Elsewhere, Ma Bell met her match in an irate Angela Merkel
, with AT&T Inc.
(NYSE:T) imploding 1.84% as telecoms were the sole sector to end in the red. And, if Fenway will forgive the phrase, Boston Scientific
(NYSE:BSX) dropped the ball
, sliding 6.10% after issuing iffy earnings guidance. Fear not, Beantown, for pairing Ugg boots with Red Sox should still keep you in the green; Tom Brady’s Deckers Outdoor
(NASDAQ:DECK) is surging some 13.77% this morning.
Today in economics, at 9:55 a.m. Eastern the University of Michigan’s final figure for October consumer confidence is forecast to slip ever so slightly from its preliminary reading earlier in the month. On the corporate front, a frenetic first full week for quarterly earnings announcements finishes with Moody’s
(NYSE:MCO), National-Oilwell Varco
(NYSE:NOV), Procter & Gamble
(NYSE:PG), Samsung Electronics
(NYSE:SHW), and United Parcel Service
(NYSE:UPS) all due to release results.
Advance Auto Parts
(NYSE:AAP): Shares get upgraded to Outperform at RBC Capital.
(NASDAQ:AMZN): Shares, surging before the bell, are upgraded to Strong Buy from Perform at Raymond James.
(NYSE:EAT): The fast food firm is hoisted to Buy from Hold with Wunderlich.
(NYSE:ELY): ELY is now Buy from Neutral at DA Davidson
(NASDAQ:CECO): Shares are moved to Outperform from Market Perform with Wells Fargo.
(NYSE:CL): Canaccord Genuity gives the consumer products powerhouse a Hold-from-Sell boost.
(NASDAQ:COLM): The stock is now Neutral from Sell at Citigroup.
(NASDAQ:CTCT): Shares are now Buy from Hold at Needham.
(NYSE:DD): Citigroup gives the chemical company, a key Dow
(INDEXDJX:.DJI) component, a Buy-from-Neutral boost, sending shares up ahead of the open.
(NYSE:F): Shares, which hit a multi-year higher yesterday, are upgraded to Outperform from Underperform at Crédit Agricole.
(NASDAQ:HAS): The toy maker is taken to Perform from Underperform by BMO Capital.
(NYSE:ESI): ESI is now Neutral from Sell with an increased price objective at Compass Point, which cites two successive quarters of improved expense control.
(NASDAQ:MPWR): Oppenheimer moves MPWR to Outperform from Perform.
(NYSE:SNE): Credit Suisse juices the Japanese consumer electronics giant to Outperform from Neutral.
(See also: New Stock Coverage: Disney Is the Mouse That Roared
and Stock Downgrades: Cash Registers Stop Ringing at NCR Corp
No positions in stocks mentioned.
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