That 1929 chart is currently all the rage
on Wall Street, but it suddenly seems more like 1987, which gave us a one-day drop in the Dow
(INDEXDJX:.DJI) that made the crash 58 years earlier look like a cakewalk. Only twenty-four hours after Janet Yellen, the first Democrat to head the Fed since 1987, testified before Congress, Robocop opened to further relive that awful annum
. As it was, stocks snapped a four-session winning streak amid listless trading activity. Botox owner Allergan
(NYSE:AGN), up 0.41% to a historic high, did buck a bad day; no wonder a perfectly preserved 55-year-old finds herself on the most coveted front cover in "Sports"
(NASDAQ:SPLS) slumped 1.93%, but read its terrible tape fast enough
and you might not notice. DaVita HealthCare
(NYSE:DVA), a leader in treating kidney ailments, jumped 3.14% to a fresh best, and Jeff Bezos, who knows all about those
, watched with horror as his stock slid 3.47% on a rating reduction
(NASDAQ:FB) hit a fresh best, and on the day Yankee legend Derek Jeter took to the medium in announcing his retirement
. His first World Series ring came in 1996, when The Cable Guy
Bronx bombed at the box office. Life imitates art
, and all that.
It's a frenzied day for corporate earnings announcements, with Agnico-Eagle Mines
(NYSE:AEM), Cliffs Natural Resources
(NYSE:CLF), and PepsiCo
(NYSE:PEP) among a plethora of companies releasing results.
: Citigroup begins Buy-rated research on Brown-Forman
(NYSE:BF.B) but has new Neutrals on both Constellation Brands
(NYSE:STZ) and Craft Brew Alliance
(NYSE:IT): IT is assigned an Outperform with Wells Fargo.
(NASDAQ:LULU): LULU gets launched with a Buy at Nomura.
(NYSE:KORS): (Hat tip to the always dressed-to-the-nines duo of Patsy
for today's title.) Michael Kors gets a Gotham Fashion Week
boost from Cantor Fitzgerald, which starts the stock at a bullish Buy. Shares, up 54.85% in the past 12 months, hit the highest level in their history yesterday.
(NYSE:NKE): Nomura has a new Buy on the Dow member.
: McGraw Hill Financial
(NYSE:MHFI) and Moody's
(NYSE:MCO) are each Market Perform with Wells.
(NYSE:SRE): Shares, downgraded elsewhere this morning, are a new Outperform at Wells Fargo.
(NYSE:TIF): Just in time for Valentine's Day, Nomura has a new Buy on the wedding ring king.
(NYSE:WMT): The Dow member is a fresh Buy, also at Nomura.
Stock Upgrades: Flights May Be Grounded but Children's Place Isn't
Stock Downgrades: Lorillard Goes Up in Smoke
No positions in stocks mentioned.
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