One year to the day after the New York Stock Exchange was barricaded by sandbags
, Apple Inc.
(NASDAQ:AAPL), which knows all about those
, scored a broker boost
. Yet its stock still tumbled 2.49%, providing redundant proof that history never repeats exactly. There was, however, history aplenty in the air yesterday, as the S&P 500 Index
(INDEXSP:.INX) attained another all-time best. Ironically, its single best performer was Xylem
(NYSE:XY), so instrumental to Superstorm Sandy clean-up efforts
. It surged 12.44%, and gets upgraded this morning. Nasdaq
(INDEXNASDAQ:.IXIC), clearly taking its cue from the land of the matador
, opted for a 46-minute midday siesta
. You still can’t kill its bull market though; the tech-heavy bourse rose for a fifth straight session to stand at levels not seen since September 2000. Sweet treat Hershey
(NYSE:HSY) gained 0.76% to hit a historic high ahead of Halloween. This as Pacific Ethanol
(NASDAQ:PEIX) jumped 2.62%. Given that fully 40% of our corn crop goes to make ethanol
, it’s a wonder the confectionery company has any left over to make its Candy Corn Kisses.
This afternoon, the Federal Open Market Committee concludes its two-day policy meeting. Hump Day of another busy quarterly earnings week is here, with Allstate
(NASDAQ:FB), General Motors
(NYSE:GM), Kraft Foods
(NASDAQ:SBUX), and Visa
(NYSE:V) all due to release results.
(NYSE:ADC): The property manager is increased to Outperform from Market Perform at Raymond James.
(NASDAQ:BIDU): Brean Capital and Jefferies both boost the Chinese Internet outfit to Buy from Hold, the latter with a relatively aggressive price objective of $222.
(NYSE:BP): Its 2010 Gulf of Mexico oil spill fiasco an increasingly distant memory, shares rose 4.99% yesterday in their single best session since January 2011. Today the stock is showing further strength in London on an après
-earnings upgrade to Buy from Hold at Société Générale.
(NASDAQ:EA): The video game titan, which just jettisoned Tiger Woods
, is today taken to Strong Buy from Hold at Needham. Its stock, already up 102.60% in the past 12 months, is adding on another 7.75% as we speak.
(NASDAQ:FB): BTIG Research raises its recommendation on the social networking name, which releases its quarterly earnings today, to Buy from Neutral with a $68 price objective. Shares are, accordingly, trading higher this morning.
First Busey Corporation
(NASDAQ:BUSE): BUSE is boosted to Outperform from Market Perform at FBR Capital, whose price objective increases to $6.25 from $5.50 on account of the company’s impressive loan growth.
(NASDAQ:LSI): Shares are moved to Overweight from Equal-Weight at Morgan Stanley.
(NYSE:MAS): More good news for the stock, which jumped 2.63% yesterday. This morning Raymond James juices its rating to Market Perform from Underperform.
(NYSE:MWV): The packaging powerhouse, which plunged 9.39% yesterday, is upgraded to Buy from Outperform at Crédit Agricole.
(NYSE:NKE): NKE is now Overweight from Equal-Weight at Morgan Stanley.
(NYSE:TRI): The financial media giant, fresh from announcing 3,000 layoffs
, is lifted to Outperform from Sector Perform at RBC Capital. Its target price, previously $35, increases to $40 amid better-than-expected operating results.
(NYSE:XY): Shares, trading at post spin-off peaks, are now Neutral from Underperform at DA Davidson.
(See also: Stock Downgrades: US Steel Is No Superman
and New Stock Coverage: Can Dick’s Sporting Goods Score Big?
No positions in stocks mentioned.
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