The late, great Shirley Temple said she stopped believing in Santa at age six, when "Mother took me to see him in a department store and he asked for my autograph." Yesterday Fed head Janet Yellen was similarly besieged by fanboys for her signature
, but investors show no sign of following Shirley's suit in abandoning their magical thinking. Chronic issues in emerging markets, an ominous slowdown in China, and our own fitful economy didn't all just disappear, but Wall Street still willfully suspended its disbelief in again sending the Dow
(INDEXDJX:.DJI) up by triple digits. Clearly, succumbing to the spirit of the season, we are all in love with equities. Alas, romance appears to be dead almost everywhere else. Witness a new study showing Valentine's Day is prime time for divorce
, this as the most powerful man in the planet's most romantic city can't even get a date to a White House dinner
. (Someone should tell him, in the words of the state slogan, "Virginia is for lovers." Oh wait, they just did
.) At least Danish jewelry giant Pandora
(OTCMKTS:PNDZY) set hearts aflutter ahead of Friday, jumping 3.21% to a fresh best on a broker boost
. They say all's fair in love and war and iRobot
(NASDAQ:IRBT), whose wares do heroic bomb disposal work in combat zones, surged 11.38% to a historic high. This as our enemies revealed themselves to be utterly bereft of any intelligence
, battlefield or otherwise.
Today in economics, the Treasury releases its January budget report at 2:00 p.m. Eastern. In earnings action, expect announcements out of Applied Materials
(NASDAQ:AMAT), Cisco Systems
(NYSE:TOT), and Zillow
(NYSE:ECOM): Robert W. Baird resumes Outperform-rated research and assigns a $50 price objective. The broker says ECOM is well placed to benefit from the worldwide growth of e-commerce.
(NASDAQ:LFVN): The microcap is initiated with an In-line at Imperial Capital, whose target price is $2.10.
(NYSE:OAS): Citigroup has a new Neutral, and $46 objective, on the energy name.
: Citi begins Aon Plc
(NYSE:AON) at a Buy, has new Neutrals on Allstate
(NYSE:ALL) and Progressive
(NYSE:PGR), and starts Sells on Chubb
(NYSE:CB) and key Dow component Travelers
(NASDAQ:REGN): The stock, headquartered in Washington Irving's headless horseman hometown of Tarrytown, yesterday surged 7.41% to a historic high. The news is equally upbeat this morning, as shares are launched with a bullish Buy rating and $387 price objective at Bank of America-Merrill Lynch.
Stock Upgrades: TripAdvisor Is Going Places
Stock Downgrades: For Amazon.com, Being Called Amazon.org Is No Joke
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