With 10 trading days left in 2013, the “Santa Claus rally” officially starts today and, trust me, you don’t wanna mess with him when he’s in this mood
. By the close, not even Greek bells
could derail jingle bells as the Dow
(INDEXDJX:.DJI) ended up in triple digits to lead US stock markets out of their recent slump. Strong economic data inspired equities, not least industrial production returning to its pre-Great Recession peak for the first time. (From Lehman to Loehmann’s
; bankruptcy still blights the land but we’ve made progress of sorts.) Among equities on the move, Herbalife
(NYSE:HLF) surged 9.43% after PriceWaterhouseCoopers — which did not exactly distinguish itself during the Enron debacle
— gave its accountancy the all clear. Twitter
(NYSE:TWTR), brought public by a gridiron guru
, fell 4.05% as analysts played Monday morning quarterback
to start the week, following a five-day surge that had sent it up 31%. The social media service still saw plenty of pithy platitudes about Peter O’Toole, including a rehash (tag)
of one Noël (a Christmas name if ever there was one) Coward’s legendary line that “If you’d been any prettier, it would have been Florence of Arabia.” Maybe the incomparable actor is attempting to talk to us from beyond the grave. Arabian American Development
(NYSE:ARSD), which jumped 6.60% last week, added on another 2.06%, ending at a historic high.
The Federal Open Market Committee starts its final two-day monetary policy meeting of the year this morning. In terms of specific stocks that may move US markets, FactSet Research Systems
(NYSE:FDS), Jabil Circuit
(NYSE:JBL), Sanderson Farms
(NYSE:PAY), and Zoltek
(NASDAQ:ZOLT) are all due to announce earnings.
(NASDAQ:AAL): Barclays begins covering American Airlines at Equal Weight. Last week, American Airlines stock enjoyed a strong trading debut after emerging from a recent reorganization.
Church & Dwight
(NYSE:CHD): The maker of Arm & Hammer baking soda and Trojan condoms is covered with a Hold at KeyBanc Capital Markets.
(NASDSQ:CBST): JMP Securities starts the stock at Outperform. Its price objective is $80.
(NYSE:WBAI): Untold riches await tonight’s winner of the Mega Millions
lottery. To judge by Piper Jaffray’s lukewarm Neutral on online sports lottery operator 500.com Limited, you may not have much luck investing in this stock, however. 500.com Limited is definitely not for the faint of heart; it rose almost 68% on its initial public offering last month, only to implode nearly 12% yesterday.
Gaming and Leisure Properties
(NASDAQ:GLPI): Shares get started with a Sell at ISI Group.
(NYSE:JAH): KeyBanc Capital covers the company, whose brands include Mr. Coffee, with a Buy.
(NYSE:IRM): Jefferies has a Hold, and $27 target price, on IRM.
(NASDAQ:RMTI): Brean Capital resumes Sell-rated research.
(NYSE:SMG): The stock is a Hold at KeyBanc Capital.
(NASDAQ:TRIP): Janney has a Sell, and $63 target, on the stock.
(NYSE:TUP): KeyBanc begins Buy-rated research on the household staple.
(NASDAQ:ULTA): Shares of the cosmetics company, which have slumped of late, are initiated with a Buy at the omnipresent KeyBanc.
(NASDAQ:Z): Zillow is a new Buy at SunTrust. Its objective on Zillow stock is $95.
(See also: Stock Upgrades: Hewlett-Packard Is a Better Bet Than Tottenham Hotspur
and Stock Downgrades: Atlas Shrugs at US Physical Therapy
No positions in stocks mentioned.
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