Those venerable sidewalk Santas are finally calling it quits
on Fifth Avenue, and no wonder — how could they compete with Wall Street, where it is now Christmas every day. (Although it may not be a very holly Joly yuletide
for Best Buy
(NYSE:BBY), which nosedived 9.9% even as US stock markets reached fresh peaks.) There seems to be no stopping both the Dow
(INDEXDJX:.DJI), now up for seven straight weeks, and S&P 500 Index
(INDEXSP:.INX). Still, denizens of the financial industry remain under intense stress
, so go easy on them, okay? No comment yet from the fellow who sued Bank of America
(NYSE:BAC) for giving him a heart attack but, if his ticker is healthy enough, he might be surprised to see its stock symbol now showing nothing but green ink. Poultry processor Tyson Foods
(NYSE:TSN) jumped 10.60%; a penny for the thoughts of that poor professional chicken catcher who just got fired for his attitude
. Amid unrestrained ebullience elsewhere Campbell Soup
(NYSE:CPB), maker of V8, slid 7.2% and Tesla Motors
(NASDAQ:TSLA), whose V8 engines are always aflame, tumbled 10%. Cruelly adding to its angst, Catching Fire just blew away all comers at the box office
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:AOL): AOL Inc. is downgraded to Sector Perform from Outperform at RBC Capital. It is primarily due to valuation, with AOL Inc. stock already up about 50% this year.
(NASDAQ:BRCD): Shares are now Neutral from Buy with a $9 price objective at ISI Group, which would wait for a more compelling entry point before purchasing.
(NYSE:CPB): Campbell Soup stock, which slumped 7.2% last week, is now Neutral from Buy at Goldman Sachs. Other brands of Campbell Soup include Pepperidge Farm and V8 juice.
(NYSE:CLX): CLX gets cut to Sell from Neutral at Goldman, which has an issue with the stock’s premium valuation.
(NYSE:DE): BMO Capital markets moves the company to Market Perform from Outperform.
(NASDAQ:JBLU): JetBlue is now Underperform from Perform at Raymond James. As a result, JetBlue stock is trading lower ahead of this morning’s opening bell.
(NASDAQ:SCHN): Shares are slashed to Underperform from Hold at Jefferies.
(NYSE:S): Pacific Crest takes the telecom stock to Sector Perform from Outperform.
Time Warner Cable
(NYSE:TWC): Amid merger concerns, the cable company gets cut to Hold from Buy at Argus.
(See also: New Stock Coverage: Goldman Sachs, Still Doing 'God’s Work,' Sees Church & Dwight Heading Heavenward
and Stock Upgrades: Strong Start To The Week For Finish Line
No positions in stocks mentioned.
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