(NYSE:M) inflatable objects might not get off the ground this Thanksgiving
, but why bother with balloons tomorrow when we’re in a bubble today? With assistance from another Miracle on 34th Street — the retailer rose 1.26% to hit its highest level ever — there is indeed much to be thankful for on Wall Street. US stock markets rose to records, with the Dow
(INDEXDJX:.DJI) now up for four straight sessions. As for Nasdaq
(INDEXNASDAQ:.IXIC), it hit 4000 for the first time since September 2000, even as its grassy Noll stepped off the greasy poll
. Tiffany & Co.
(NYSE:TIF) topped the S&P 500 Index
(INDEXSP:.INX) after touching an all-time best of $88.88 after announcing blingy sales to Beijing. (No wonder eight is a lucky number in China.) In the words of what Advertising Age
called the “slogan of the century,” a diamond is indeed forever. That matrimonial jingle was, ironically, the work of two lifelong spinsters
. As for the Mad Men
they loved and lost, Omnicom Group
(NYSE:OMC), home to real-life Don Drapers, gained 1.20% to a historic best.
Other than Frontline
(NYSE:FRO), which reported results three hours ago, it is slim pickings for earnings announcements today. In terms of economic events that may move US stock markets this morning, at 9:55 a.m. Eastern the University of Michigan’s final figure for November consumer confidence is expected to post an improvement from the preliminary pace announced earlier in the month. At 10:00 a.m., analysts expect October leading indicators to slip from September’s rate. US markets will be closed tomorrow in observance of Thanksgiving.
(NASDAQ:ADI): Following fourth-quarter earnings that revealed weaker than expected revenue, Drexel Hamilton downgrades the tech stock to Hold from Buy.
(NYSE:CPA): Shares are slashed to Sell from Neutral at UBS.
(NASDAQ:DENN): The restaurant stock gets reduced to Neutral from Buy at Janney Montgomery Scott. Yesterday’s 2.74% jump has left the stock with limited upside, in the broker’s estimation.
(NYSE:GPS): Argus cuts the clothing company to Hold from Buy.
(NASDAQ:INTC): Intel, a key Dow member, is trading lower today after being moved to Sector Perform from Outperform at RBC Capital. Its price objective on Intel, previously $27, is trimmed by $1. There are issues in both the mobile arena and Intel’s return on investment, according to the investment house.
(NASDAQ:SBNY): Shares are now Neutral from Buy at Sterne Agee.
(NYSE:TLYS): There is triple pre-Turkey Day trouble for Tilly’s this morning. The adolescent apparel outfit gets cut by Goldman Sachs (Neutral from Buy), SunTrust (also Neutral from Buy, with its target price taken to $13 from $20), and William Blair (Market Perform from Outperform). Shares in Tilly’s are currently tumbling 26.01% ahead of the open.
(NASDAQ:TIVO): TiVo is taken to Equal Weight from Overweight at Evercore. Its concerns over TiVo include cautious fiscal fourth-quarter 2014 earnings guidance.
(See also: New Stock Coverage: Buy Cedar Fair Before Eating Fowl
and Stock Upgrades: Hewlett-Packard Parties Like It’s 1939
No positions in stocks mentioned.
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