News that Party City is planning an IPO
will likely come to be seen as the moment that the revelry officially ended on Wall Street. Still, with the Fed resolutely refusing to take away the party punch bowl
, for now US stock markets continue to scale fresh peaks. The Dow
(INDEXDJX:.DJI) topped 16,000 for the first time, with anchor chairs empty at CNBC
and Janet Yellen as good as confirmed as Fed chair. (La-Z-Boy
(NYSE:LZB), up 15.35%, was still the best bet for a bull run that remains unwilling to put its feet up.) As we honored the man who was prepared to "pay any price
," investors are clearly willing to pay 17 times S&P 500 Index
(INDEXSP:.INX) earnings. Not one
broker boosts saw Green Mountain Coffee
(NASDAQ:GMCR) gain 9.14% even as Britain’s David Cameron, from the land of tea drinkers, told his ministers to “cut the green c**p!
” Jamie Dimon of JP Morgan
(NYSE:JPM), who knows all about “teapot tempests
” took tea at Buckingham Palace
while his bank bled another $13 billion.
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:BKW): Burger King gets begun with a Buy at Goldman Sachs, which sees per share earnings growth in the region of 19%. As a result, Burger King stock is trading higher today.
Church & Dwight
(NYSE:CHD): Goldman Sachs, the bank that claims to do “God’s work,”
sees a celestial future for Church & Dwight. It starts the stock at a Buy. Church & Dwight’s brands include both Arm & Hammer baking soda and Trojan condoms.
(NASDAQ:CRTO): Shares are initiated with an Overweight at JP Morgan.
(NYSE:ENR): Energizer is a new Neutral at Goldman. Besides its eponymous batteries, Energizer also owns Banana Boat, Hawaiian Tropic, Playtex, and Wet Ones.
(NASDAQ:EGHT): Shares are begun with a Buy at Deutsche Bank and an Overweight at Barclays.
Plains All American
(NYSE:PAA): The limited partnership gets picked up with a Buy at Goldman Sachs.
(NYSE:LEAF): Keefe Bruyette covers the company at Outperform.
Surgical Care Affiliates
(NASDAQ:SCAI): Shares are assigned an Overweight at JP Morgan.
(NYSE:TWTR): Twitter is a new Market Perform at Wells Fargo. The analyst community is currently quite divided on Twitter, the micro-blogging service that recently went public.
(NYSE:ZTS): The animal health outfit, a spin off from Pfizer
(NYSE:PFE), is a new Market Perform with William Blair.
(See also: Stock Upgrades: Strong Start to the Week for Finish Line
and Stock Downgrades: Campbell Soup Stock Is All Out of Liquid Assets
No positions in stocks mentioned.
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