Call it a “Santa Claus rally” if you must, but this Mother of All Bull Markets needs no help from Father Christmas. Not when the “Money Honey
” wins out over “Just the facts, ma’am.” Maria Bartiromo may have left her anchor desk over a month ago, but being erroneously identified as a “CNBC host” in her USA Today article yesterday
did no damage to its owner Gannett
(NYSE:GCI), which jumped 2.88% to hit a half-decade high. “McPaper” was born in 1982, which until now was regarded as the year history’s biggest ever bull market began. 2013 is now giving it a serious run for the money, however with the Dow
(INDEXDJX:.DJI) having set an astonishing 48 records this year. Mind you, some stocks were more Scrooge than Kris Kringle. Showing no Christmas spirit, scuba shop Sport Chalet
(NASDAQ:SPCHA) unceremoniously sent Santa literally underwater
in imploding 8.33%. Sex kitten Ertha Kitt’s exhortation for Santa Baby
to “Come and trim my Christmas tree, With some decorations bought at Tiffany
(NYSE:TIF)” proved awful advice as the bling king ended off an unlucky 0.13% after being hit with a $449 million breach of contract by Swatch
(OTCMKTS:SWGAY). (After that pullback, its stock is surely a steal
.) And Ertha’s admonition for Father Christmas to “hurry down the chimney tonight” with “a ’54 convertible too, light blue” doesn’t make much cents after Ford
(NYSE:F) followed up last week’s 7%-plus slide by losing another 1.75%. At least investors didn’t need mistletoe to tell them “I saw mommy kissing Santa Claus” after XO Group
(NYSE:XOXO) advanced 5.44%.
‘Tis the day before Christmas, when US stock markets close three hours early at 1:00 p.m. Eastern. In terms of economic data due this morning, November new home sales are expected to improve from October’s pace at 10:00 a.m. There will be no trading tomorrow, with investors instead at home awaiting gifts from the man with the white beard. (This one
. Not that one
, for the latter has been quite generous enough this year, and deserves a rare day off.)
(NASDAQ:CAMP): CalAmp stock, imploding 8.74% as I write this article, gets cut to Equal-Weight from Overweight at First Analysis. The rating reduction comes after the company reported third quarter earnings.
(NASDAQ:GLUU): Glu Mobile stock is currently tumbling some 3.79% after being reduced to Neutral from Buy at brokerage boutique B. Riley & Co.
(NASDAQ:HTLD): Heartland Express is a short-to-medium-haul truckload carrier but you may not want to “back up the truck
” in its stock today. This after Stifel slashes it to Hold from Buy. Valuation concerns are cited, with the equity having recently broken past the broker’s $19 fair value projection.
(See also: Stock Upgrades: Santa, Crediting Botox for Never Aging a Day, Backs Up the Sleigh on Allergan
and New Stock Coverage: CliffsNotes Can Help Houghton Mifflin Harcourt Climb Every Mountain
No positions in stocks mentioned.
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