Despite the best efforts of both a financial firm noted for never sleeping
and a biotech famous for its iron-deficiency treatments, stocks endured another somnambulant session amid anemic trading. An utterly unloved Citigroup
(NYSE:C), which fell 5.40%, and an analyst-inspired
1.82% advance in Amgen
(NASDAQ:AMGN) each stood in stark contrast to another dreary day for Dow Industrials
(INDEXDJX:.DJI). Currency markets were more exciting after President Obama, evidently unaware that Italy adopted the euro a dozen years ago, opined at a press conference about the importance of getting the best value "for every dollar or lira that we're spending
." The common currency quickly cratered to three-week lows as a result. On this, the 66th birthday of the incomparable Dianne Wiest, our Commander in Chief would likely reflect that sometimes "don't speak
" is indeed the best advice. Mind you, Charles Schwab
(NYSE:SCHW) must already regret jettisoning that iconic "Talk to Chuck
" ad campaign. Its stock spectacularly failed to make money talk, tumbling some 2.27%.
Today in economics, the University of Michigan's March consumer sentiment survey is expected to tick up slightly from February's pace at 9:55 a.m. Eastern. On the corporate front, BlackBerry
(NASDAQ:BBRY) and Finish Line
(NASDAQ:FINL) each released results earlier this morning.
(NASDAQ:HAWK): Shares are now Neutral from Overweight at Piper Jaffray.
(NYSE:CIEN): Amid iffy earnings, RBC Capital reduces its rating to Perform from Outperform. Its price objective is established at $28.
(NYSE:C): Additional woe for the financial firm, downgraded more than once yesterday. Today it is slashed to Hold from Buy at Societe Generale. The target price, previously $58, is now $52.
(OTCMKTS:DANOY): With ever-more covetous glances being cast in the direction of Chobani Greek yogurt
, competitor Danone gets downgraded to Underweight from Equal Weight by Barclays. Shares are trading lower in Europe today as a result.
(NYSE:GEL): Citi lowers the limited partnership to Neutral from Buy.
(NASDAQ:JDSU): The tech name gets taken to Perform from Outperform with a $15 price objective at RBC Capital, which sees better current value elsewhere in the optical industry.
(OTCMKTS:NSRGY): Credit Suisse cuts the confectionery king to Neutral from Outperform on account of its excessive valuation.
(NYSE:PCG): Citigroup (Neutral from Buy, target trimmed by $6 to $46) and Deutsche Bank (Hold from Buy) each downgrade the electric utility, sending it tumbling 3.41% as we speak.
(NYSE:PNW): Shares are lowered to Neutral from Buy by Bank of America-Merrill Lynch.
(OTCMKTS:REMYF): Goldman Sachs gives the French cognac firm a Neutral-from-Buy downgrade.
Rose Rock Midstream
(NYSE:RRMS): RRMS is reduced to Neutral from Buy at Citigroup.
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