Bill Gates of Microsoft
(NASDAQ:MSFT) choked up
. The “Money Honey” sobbed
as she said goodbye. And a Congressman wept
after he was caught using cocaine (causing one wit to take to Twitter
(NYSE:TWTR) and declare, "Drug user tearfully admits to being a member of Congress”). They must all be crying all way to the bank, even JP Morgan “Chastened”
(NYSE:JPM), which jumped 4.7% even as it handed over another $13 billion. The Dow
(INDEXDJX:.DJI), now above 16,000, and S&P 500 Index
(INDEXSP:.INX) each rose to records as US stock markets continued their inexorable ascent. It seems nothing can stop equities at the moment. A dangerous ice problem
? No worries. Landing at the wrong airport
? All in a day’s work. Being inadvertently embarrassed in an advertising campaign
? Oh please, small potatoes. Amid all this, Boeing
(NYSE:BA) still hit the highest level in its history last week, having now advanced 85.88% in a year. Bookstores are making a comeback
but there was no such luck for Facebook
(NASDAQ:FB), which fell 5.7% on the week, nor for Ireland’s biggest bookmaker Paddy Power
(OTCMKTS:PDYPF), which tumbled 12%. As late as August, it still had Larry Summers as odds-on favorite to become Fed head
In terms of economic events that may move US markets this morning, at 10:00 a.m. Eastern, October pending home sales are expected to post an improvement from September’s pace. Regarding specific stocks, Nuance Communications
(NASDAQ:NUAN), Palo Alto Networks
(NYSE:PANW), Qihoo 360 Technology
(NYSE:SDRL), and Workday
(NYSE:WDAY) are all due to release quarterly results.
(NYSE:AA): Alcoa gets a Buy-from-Neutral boost at Goldman Sachs, which cites the commodity company’s “solid position in growing value-added and high-margin aluminum products for the aerospace and automotive industries.” Alcoa stock is up impressively this morning as a result.
(NASDAQ:BLMN): Raymond James raises the owner of Outback Steakhouse to Outperform from Perform.
(NYSE:CAT): Bank of America-Merrill Lynch lifts Dow component Caterpillar to Buy from Neutral. Its price objective on Caterpillar, previously $87, increases to an even $100.
(OTCMKTS:ESYJY): The budget European air carrier is increased to Buy from Hold at Jefferies.
(NASDAQ:FINL): Finish Line is upgraded to Neutral from Underperform at Sterne Agee and to Positive from Neutral at Susquehanna. Finish Line stock, up 24.41% in a year, hit a fresh 52-week peak earlier in November.
(NYSE:GFI): GFI gets upgraded to Neutral from Underperform by Bank of America-Merrill.
(NYSE:GDOT): Jefferies juices GDOT to Buy from Hold.
(NASDAQ:HTLD): HTLD is hoisted to Outperform from Perform at RBC Capital, which also takes its target price up by $5 to $21 amid an impressive recent acquisition.
(NASDAQ:RRD): Benchmark Company boosts the stock to Buy from Hold with an increased objective of $21 on account of potential merger synergies.
Smith & Nephew
(NYSE:SNN): Shares are now Outperform from Market Perform at Sanford Bernstein.
(NYSE:SYK): Bernstein moves the medical device maker to Outperform from Market Perform.
(See also: Stock Downgrades: Campbell Soup Stock Is All Out of Liquid Assets
and New Stock Coverage: Goldman Sachs, Still Doing 'God's Work,' Sees Church & Dwight Heading Heavenward
No positions in stocks mentioned.
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