Stocks, now down for three straight sessions, endured another hard landing. Led, appropriately enough, by Boeing
(NYSE:BA), which dived a Dow
(INDEXDJX:.DJI)-worst 3.31% after a rating reduction
. (And this on the day its 747 Dreamlifter airplane ended up at the wrong airport in Wichita
. Truly, Toto, we ain’t in Kansas any more.) Despite the best efforts of the omnipresent Boeing — $1.12 million in precious metal bars were recently found stashed in a 737's toilet
— bullion fell to a fresh four-month low. Rather than venture into its on-board restrooms, you would be better advised to simply buckle up and stay put if you can. Especially on a day Zodiac Aerospace
(EPA:ZC), the world’s largest maker of airline seats, gained 3.1% to a two-decade high. Cigarette stock Philip Morris
(NYSE:PM), just downgraded, lost 2.37% on a difficult day for US markets. This after it emerged that there are health benefits to stopping smoking even in your sixties
. Bill Clinton, who famously did not inhale in the '60s, could not be reached for comment, but the Bills came due all over Wall Street. Microsoft’s
(NASDAQ:MSFT) Mr. Gates saw his stock gain 0.39% to best all blue chips. And, much to the ire of Ackman, Herbalife
(NYSE:HLF) surged 6.47% after Bill Stiritz boosted his holding in the nutritional supplements name.
In terms of economic events that may move US markets this morning, analysts expect a fall in November’s Philadelphia Fed Index at 10:00 a.m. Eastern. Regarding specific stocks, Abercrombie & Fitch
(NYSE:ANF), Dollar Tree
(NASDAQ:DLTR) Gap Inc
(NASDAQ:P), Ross Stores
(NASDAQ:ROST), Sears Holdings
(NYSE:TGT), and The Fresh Market
(NASDAQ:TFM) are all due to report quarterly results.
American Railcar Industries
(NASDAQ:ARII): Raymond James reduces its rating to Underperform from Outperform.
(NYSE:ED): The Big Apple-based electric utility outfit may run out of juice after getting downgraded to Underperform from Hold at Jefferies.
(NYSE:SJM): The problems for peanut butter powerhouse J.M. Smucker, which slumped an S&P 500
(INDEXSP:.INX)-worst 6.54% on Wednesday, may not be over in a Jif. J.M. Smucker remains in a real jam after getting moved to Neutral from Overweight at JPMorgan this morning.
(OTCMKTS:MGDDY): HSBC Securities takes the French tire titan to Neutral from Overweight.
National Fuel Gas
(NYSE:NFG): Shares are now Perform from Outperform at Raymond James.
Philip Morris International
(NYSE:PM): More bad news for the Marlboro Man. Philip Morris International, which tumbled 2.37% yesterday, gets slashed to Neutral from Buy at Goldman Sachs. Philip Morris International is also pulled from the financial firm’s Conviction Buy list. The bank’s concerns include recently-lowered earnings guidance from the tobacco titan.
(NASDAQ:QCOM): Qualcomm is cut to Outperform from Strong Buy at Raymond James. Chipmaker Qualcomm just held its annual analyst day.
(See also: New Stock Coverage: Facebook Looks Mighty Handsome
and Stock Upgrades: Green Mountain Far From Over the Hill
No positions in stocks mentioned.
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