The long and the short of it? US stock markets moved lower as 882 pages proved predictably mightier than 140 characters. Passage of the voluminous Volcker Rule cast a shadow over equities that even a 5.80% surge in Twitter
(NYSE:TWTR) was unable to overcome. Mr. Volcker, as our Central Bank head, had to confront a Fed funds rate of 20% in 1980. That was the year Ronald Reagan providentially arrived in Detroit
to rescue America from its Carter-era “malaise.” It was also the year Motown’s teenage Ms. Barra arrived at General Motors
(NYSE:GM). She started on the factory floor and yesterday smashed the glass ceiling; let us all hail Mary
. On a day the S&P 500 Index
(INDEXSP:.INX) backed away from records, photo pioneer Eastman Kodak
(NYSE:KODK) jumped 4.42% as cameras took center stage. President Reagan’s successor took a “selfie” in South Africa with Denmark’s blonde bombshell Prime Minister
. Not smart; there was Helle to pay with Michelle. The sign language interpreter at Nelson Mandela’s memorial service was decidedly dodgy
(NASDAQ:SBUX) — whose treatment of the deaf is a disgrace
— tumbled 2.95%, enduring its worst day for over a year. There was no foreplay for Auxilium Pharmaceuticals
(NASDAQ:AUXL), which fell an even 4.00%. This despite recently getting approval to treat — no, I’m sorry, it’s far too embarrassing to say
. The news was better for Pfizer
(NYSE:PFE), home of the little blue pill: For the second straight year, it was named America’s happiest company
In terms of economic events that may move US markets today, analysts expect November’s budget deficit to widen at 2:00 p.m. Eastern. Regarding specific stocks, Costco
(MCE:ITX), Joy Global
(NYSE:JOY), Men’s Wearhouse
(NYSE:MW), and Nordson
(NASDAQ:NDSN) are all due to release results. And Hilton Worldwide
(NYSE:HLT) prices its initial public offering.
(NYSE:ALU): Citigroup takes the French telecom firm to Buy from Neutral.
(NASDAQ:AFAM): AFAM gets upgraded to Sector Perform from Underperform at RBC Capital.
(NYSE:BCC): Shares are now Buy from Neutral at Goldman Sachs.
(NYSE:CAH): Leerink lifts the stock to Outperform from Market Perform.
Charles River Labs
(NYSE:CRL): The stock is moved to Market Perform from Underperform at Raymond James.
Children’s Place Retail Stores
(NASDAQ:PLCE): FBR Capital raises its recommendation to Outperform from Market Perform.
(NASDAQ:XRAY): Talk about putting your money where your mouth is. Goldman gives Dentsply stock a Buy-from-Neutral boost. Catalysts include the implant market and an accretive acquisition. Its price objective on Dentsply is $56.
(NYSE:FE): Shares are now Neutral from Sell, also at Goldman.
(NYSE:GD): GD gets upgraded to Fair Value from Sell at CRT Capital.
(NASDAQ:GRPN): Saying Groupon is expanding impressively into the local commerce arena, Wells Fargo lifts its stock to Outperform from Market Perform.
(NASDAQ:QCOM): Shares are upgraded to Buy from Neutral at Citigroup.
(NASDAQ:RDWR): Wells raises RDWR to Outperform from Market Perform.
(NYSE:MMM): The maker of Scotch Tape and Post-it Notes was indeed in a sticky situation only last week after getting downgraded
by Morgan Stanley
(NYSE:MS). Today, however, there is better news for the Dow
(INDEXDJX:.DJI) member, as its stock gets a Buy-from-Neutral boost at Nomura. Organic growth prospects and profit margins each augur well for 3M Company, the broker believes.
(OTCMKTS:VIVHY): Shares are taken to Outperform from Market Perform by Sanford Bernstein.
(See also: New Stock Coverage: Avis Learns the Hard Way That Love Hertz
and Stock Downgrades: W.R. Grace Isn't Amazing
No positions in stocks mentioned.
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