So much for tidings of comfort and joy this Christmas. Select Comfort
(NASDAQ:SCSS), which crashed 3.98%, and Joy Global
(NYSE:JOY), having fallen 5.49%, are but the latest equities indicative of a Santa Claus rally that remains stubbornly stuck in the chimney in 2013. December, historically a reliable money maker for the Dow
(INDEXDJX:.DJI), is off to a stinker, and the S&P 500 Index
(INDEXSP:.INX) is now down 1.3% this month. Pope Francis was named Time
magazine’s Person of the Year, but US stock markets were scared by the increasingly Scrooge-like specter of 2009 winner Ben Bernanke
. Meg Whitman, who came of age with a newly liberated cohort of American women (1975 winners)
said that the desktop computer (1982 winner
) is not dead yet
. Such a prediction would please Intel
(NASDAQ:INTC) icon Andy Grove, 1997 winner
, whose stock scores an analyst upgrade today. 1990 winner George Bush — the twins
— just joined Twitter
(NYSE:TWTR), whose surging stock added on another 0.67% to a post-IPO peak. And the Winklevii twins continue to curse 2010 winner Mark Zuckerberg
, whose Facebook
(NASDAQ:FB) is surging some 3.77% as we speak after being added to the S&P 500.
In terms of economic events that may move US markets today, October business inventories are seen as slipping from September’s pace at 10:00 a.m. Eastern. Regarding specific stocks, expect earnings announcements out of Adobe Systems
(NASDAQ:CIEN), Hovnanian Enterprises
(NYSE:HOV), Lululemon Athletica
(NYSE:ZQK), and Restoration Hardware
(NYSE:ACN): Stock in consulting company Accenture is resumed with an Outperform recommendation and $88 price objective at RBC Capital, which says it is well placed to benefit from a quartet of technology mega trends.
(NASDAQ:ALTR): JMP Securities starts the stock at Outperform. Its target price is $41.
(NASDAQ:ARMH): ARM Holdings stock is a fresh Outperform ($62 target) at FBR Capital, which cites its attractive recurring royalties and license fees.
(NASDAQ:CEMP): Shares are an Outperform at Robert W. Baird, whose price objective is $21. The Phase 3 antibiotic solithromycin has blockbuster drug potential, the brokerage believes.
(NYSE:CNX): Deutsche Bank covers the coal company at a Buy.
(NYSE:LB): The owner of Victoria’s Secret, which has changed its stock symbol twice in recent months, is a new Buy at Brean Capital. Its target is $70.
: Sanford Bernstein starts ArcelorMittal
(NYSE:MT) at Outperform but is less bullish on Perform-rated U.S. Steel
(NYSE:X). Its respective objectives are $22 and $27.
United Natural Foods
(NASDAQ:UNFI): Jefferies has a Hold and $77 target on UNFI.
(NYSE:WY): The pulp and paper stock is picked up with an Overweight at JP Morgan, whose price objective is $37.
(NASDAQ:XLNX): JMP Securities has an Outperform opinion and $55 target on the tech name.
(NYSE:YELP): Yelp Inc. rates only a new Neutral boutique broker B. Riley. With stock in Yelp Inc. having surged some 226.94% over the past 12 months, concerns related to the company’s stretched valuation. Its price target is $62.
(See also: Stock Upgrades: Can’t Afford Hilton? Check Into iRobot’s Roomba
and Stock Downgrades: Profit Problem Predicted at Oracle
No positions in stocks mentioned.
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