On the day Apple’s (NASDAQ:AAPL) spaceship
finally got the green light
, shares hit an air pocket on their recent journey to Pluto. Closer to home, the meek may well inherit the Earth, as it says in the Bible, but yesterday there was no such luck for the Geek (Squad)
, with Best Buy
(NYSE:BBY) tumbling an S&P 500 Index
(INDEXSP:.INX)-worst 10.97% as US stock markets eased off recent records. (It remains the top S&P 500 stock of 2013 so, to quote the good book again, "The last shall be first.") The “House of Morgan
, whose Park Avenue abode is a little less opulent than Apple’s spaceship, agreed to help build Mudd huts
by sending billions the way of innocent, aggrieved Fannie Mae
(OTCBB:FNMA). Apple actually ended up 0.18% after Uncle Carl said it “isn’t a bank and should not be run like a bank because investors did not invest in a bank.” Given Jamie Dimon’s woes — and on the anniversary of Bonnie & Clyde
— amen to that. “Do you know the way to San Jose?
” sang '70s chanteuse Dionne Warwick. If you use Apple’s map apps, or rely on the singer for investment advice
, likely not. But, at long last, at least the Patent Office is no longer asking of America’s most productive patent location, “are we there yet
In terms of economic events that may move US markets today, at 10:00 a.m. Eastern, we get both September business inventories and October existing home sales. At 2:00 p.m., minutes from the Federal Open Market Committee’s October 30 meeting are released. Regarding specific stocks, ADT Corporation
(NYSE:DE), JC Penney
(NYSE:JCP), JM Smucker
(NYSE:SJM), L Brands
(NYSE:LTD), Lowe’s Companies
(NYSE:LOW), and Staples
(NASDAQ:SPLS) are all due to release quarterly results.
(NASDAQ:DNKN): Shares are a new Neutral at Buckingham Research.
Green Mountain Coffee Roasters
(NASDAQ:GMCR): Tea at Buckingham Palace, Alice? Green Mountain Coffee Roasters is begun with a Buy, also at Buckingham. Green Mountain Coffee Roasters, weak of late, lost another 3.12% yesterday, but the broker believes the recent sell-off has created a compelling buying opportunity. Over the past year Green Mountain Coffee Roasters, which reports results today, has seen its stock rise 124.77%.
(NYSE:LPI): LPI is launched with an In-line at Imperial Capital, whose price objective is $31.
(NYSE:PLL): Goldman Sachs picks PLL up at a Neutral.
(OTCMKTS:ROYMF): Stock in Royal Mail, Britain’s biggest state-owned stock to debut since the heyday of Margaret Thatcher, is lower in today’s London trading after UBS started Sell-rated research. The bank believes Royal Mail stock is “priced to perfection” at current lofty levels.
(NYSE:SMA): Shares are begun with a Buy rating and $10 target price with Wunderlich, which calls the company a turnaround story.
Sirius XM Radio
(NASDAQ:SIRI): Pacific Crest covers the company at Sector Perform.
(NASDAQ:SBUX): The coffee king is assumed with a Buy at Buckingham Research, whose objective is $95.
(NYSE:TWTR): Never a dull day for Twitter, today rated a new Neutral at BTIG Research. Twitter stock is currently trading lower as I pen this piece.
(NASDAQ:VITC): Shares are an Outperform at Imperial Capital, whose target is $8.
(NYSE:FLS) is a fresh Outperform at Cowen ($83 objective), which rates Watts Water
(NYSE:WTS) a Market Perform.
(See also: Stock Upgrades: Best Buy a Better Buy After Yesterday's Mauling?
and Stock Downgrades: Bidding Boeing Adieu, Farewell, Dubai
No positions in stocks mentioned.
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