Someone in America may be about to get mighty rich today, but
if a week from hell that appropriately ends on Friday the 13th is any indication, it won’t be on Wall Street. US stock markets slumped again, with the S&P 500 Index
(INDEXSP:.INX) now down 1.5% in December, a historically stellar month. As for the bearded Three Wise Men – and who says that whiskers are almost entirely absent from finance
? -- well, the traditional “Santa Claus rally” remains stubbornly stuck in hibernation this year. Uncle Carl’s Icahn Enterprises
(NASDAQ:IEP), hitherto high-flying, has predictably endured its worst week in living memory since being put on the front page — the cover curse works every Time
, and equally hirsute Ben Bernanke has become a Grinch. At least there was room — if not room service
— at the inn as Hilton
(NYSE:HLT) surged 7.50% on its trading debut. Gold? Its steepest tumble in 10 weeks left investors, to be frank, incensed. Mirth was apparent for TearLab
(NASDAQ:TEAR) shareholders, as it gained 3.95% amid the red ink elsewhere. The famously lachrymose John Boehner said “The ayes (or is that eyes?) are 332, the nos are 94″ after a key budget vote. If there wasn’t a dry eye in his House, you can blame the elegiac last print issue of The Onion
. All well and good, but, as we shall soon see, investing in FireEye
(NASDAQ:FEYE) will ensure that there are no more tears.
There are no quarterly earnings announcements of note, but the Fed head inauspiciously turns 60 on this Friday the 13th
. Ahead of next week’s critical FOMC policy meeting, the market desperately needs his birthday party punch bowl
to remain overflowing for a wee while yet.
(NYSE:BRX): Deutsche Bank begins Buy-rated research with a $23 target price.
China Mobile Games
(NASDAQ:CMGE): Shares are covered with a Buy at Brean Capital.
(NYSE:XEC): The stock is assigned a Buy with Wunderlich, whose price objective is $135.
(NYSE:KO): Better news this morning for Coca-Cola, which was yesterday’s worst Dow
(INDEXDJX:.DJI) performer. Today Coca-Cola stock is begun with a Buy at Janney Capital.
Dr Pepper Snapple
(NYSE:DPS): Janney starts the stock at a Buy. Its objective is $55.
(NASDAQ:FEYE): Application software outfit FireEye is a fresh Outperform at FBR Capital, whose price target is $48. FireEye stock price catalysts, in the broker’s opinion, include opportunities in the signature-based security market.
(NYSE:HLT): Yesterday’s headline equity only rates a Neutral at SunTrust today.
(NASDAQ:KALU): Goldman Sachs has a new Neutral on the commodity company.
: RBC Capital resumes coverage on dual Dow components Chevron
(NYSE:CVX) (Perform) and Exxon Mobil
Pier 1 Imports
(NYSE:PIR): Retail stock Pier 1 Imports is a new Neutral at SunTrust. Shares of Pier 1 Imports, currently trading at $20.74, touched a trough of $0.10 during the depths of the financial crisis.
(NYSE:POST): The cereal stock is begun with a Buy at Citigroup. In addition to its eponymous Raisin Bran, Post’s other offerings include Grape-Nuts, Honey Bunches of Oats, Pebbles, and Shredded Wheat.
(NASDAQ:PFPT): Shares are set an Outperform ($37 objective) at FBR Capital, which hails its pure play on-demand security software status.
(NYSE:DATA): FBR Capital covers the stock at Outperform.
(See also: Stock Upgrades: Amazon Isn’t Falling From the Sky Any Time Soon
and Stock Downgrades: There Will Be Blood at Anadarko Petroleum
No positions in stocks mentioned.
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