Today is finally the end of the road
(OTCMKTS:VLKAY) iconic camper van, a hippie bus indelibly associated with Birkenstock-wearing baby boomers schlepping through the mud at Woodstock. That was then; this is now. Capital gains have long since supplanted crunchy granola with this cohort, for whom surging US stock markets and the Dow’s
(INDEXDJX:.DJI) 46th record high of the year will do just fine. Mind you, 24 hours on the Fed suddenly doesn’t look so smart in citing an improving economy for starting to taper. Existing-home sales? Fell to their lowest level in nearly a year. Initial unemployment claims? Rose to a near nine-month high. The Philadelphia Fed Index? Equally sub-par. Needless to say, Wall Street’s expensively compensated economists badly botched all three in their projections. Yet practitioners of the dismal science can find some solace in achieving a miracle; they finally found out how to get kids to eat their veggies
. Among stocks on the move, investors were only too happy to take a long walk off a short pier to get to Carnival Corporation
(CCL). It rose 2.53% yesterday and is currently adding on another 5.26% after getting an analyst upgrade this morning. Pier 1
(NYSE:PIR) jumped 5.11% but Facebook
(NASDAQ:FB) fell 0.94% ahead of its inclusion into the S&P 500 Index
(INDEXSP:.INX) today. (Armed with a new “sympathize” button, it clearly felt empathy for that tourist whose head was so buried in her Facebook feed that she ended up "down under" water, plunging from a pier in Australia
.) There was no relief for beleaguered bullion, with gold gapping down to an over three-year low, and insult was added to injury after golden scrimp were summarily swiped from the menu at Darden Restaurants
(NYSE:DRI), which dropped 3.59% after reaching rock bottom with Red Lobster
. Thank Heaven for Hershey
(NYSE:HSY), which is buying a Golden Monkey in China
for big bucks.
Last week’s trading action finished on Friday the 13th. This time, what will be the last full week of ’13 for stocks ends with the scary-sounding quadruple witching, so it clearly doesn’t pay to be superstitious on Wall Street. (Or in France, for that matter
.) In terms of events that may move US markets today, BlackBerry
(NYSE:KMX), Finish Line
(NYSE:WAG), and Zuoan Fashion
(NYSE:ZA) all announce earnings.
(NASDAQ:ADVS): Jefferies has a Hold and $38 price objective, on the equity.
(NYSE:BRP): BRP is begun with an Outperform at Credit Suisse, whose target price is $27.
(NASDAQ:CRTO): Société Générale starts the stock at a Buy with a $44 objective.
(NYSE:EXAR): Calling the company unique in the small-cap semiconductor space, Cowen establishes coverage at Outperform. Its target is $14.
(NASDAQ:FEYE): Last Friday, FireEye received analyst hosannas
. This Friday? Not so much. It only rates a new Neutral with Wedbush this morning.
(NASDAQ:INFN): Amid a strong optical industry cycle, FBR Capital has a fresh Outperform ($12.50 price objective) on the firm.
(NYSE:NMBL): Capping off a wealthy week for California’s third-largest city
, this San Jose-based storage equipment vendor, up 2.60% yesterday, is assigned an Outperform at RBC Capital. Its price target on Nimble Storage stock is $40 and catalysts include a quickening pace of return on investment.
(NASDAQ:SALE): RetailMeNot stock is begun at a Buy ($38 target) with Wunderlich, which hails the company’s digital marketing offerings.
(NYSE:RKUS): JMP Securities resumes RKUS at Market Perform.
(NYSE:SSTK): Citing the company’s Facebook
(NASDAQ:FB) alliance among other favorable factors, Wunderlich starts Shutterstock at a Buy. Its price target is $92.
Sprouts Farmers Market
(NASDAQ:SFM): Shares are a new Neutral at SunTrust.
Surgical Care Affiliates
(NASDAQ:SCAI): Morgan Stanley starts SCAI at Equal Weight.
(NYSE:TWTR): Recent social media initial public offering Twitter today rates a Market Perform at BMO Capital.
(NASDAQ:WYNN): Argus assigns a Buy on the casino company.
(See also: Stock Upgrades: Red Hat Caps the Week Off Nicely
and Stock Downgrades: First Niagara Falls Out of Bed
No positions in stocks mentioned.
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