Call it the John Irving correction. Shares slid again on Monday as investors searched in vain for GARP
. The World According to Garp
is currently available
(NASDAQ:AMZN) for a scant $7.19, but the retail behemoth, whose shares sell at an insane 567 times earnings, is actually a big part of the problem. Growth at a Reasonable Price can't currently be found anywhere on Nasdaq
(INDEXNASDAQ:.IXIC) and is the reason why that tech-heavy index has just endured its worst three-session streak since 2011. Not to pick on the iconic author, but when he graced the cover of Time
magazine in August 1981, it came with the caption "Wrestling Life Into Fable
." Not a good idea, either, what with World Wrestling Entertainment
(NYSE:WWE) having opened the week with a 14.70% fall. That dog-eared front page also announced a score of "US 2, Libya 0″ for the "Shootout Over the Mediterranean." On Monday, however, Colonel Gaddafi's heirs actually did their best to help the global economy by bringing down the price of petroleum
. In addition to Amazon.com, other Internet names to suffer included Priceline
(NASDAQ:GRPN), and, uh -- sorry, I'm getting very distracted and can no longer concentrate
, so let's just end it, OK?
There aren't any top-tier economic reports released today, but Alcoa
(NYSE:AA) unofficially ushers in first-quarter reporting season when it releases results after the close. Others announcing earnings include International Speedway
(NASDAQ:ISCA) and WD-40 Company
(NASDAQ:AKAO): Cowen covers the company at Outperform and assigns it a $22 target price.
(NYSE:CSLT): Shares, which nose-dived 9.64% on Monday, are a new Neutral at Goldman Sachs. The price objective is $22.
(NYSE:KO): The soft drink stock, a key Dow
(INDEXDJX:.DJI) component, gets started with a Buy rating and $48 target at BTIG Research.
(NYSE:JKS): Barclays assigns an Overweight on the alternative energy outfit.
National Retail Properties
(NYSE:NNN): NNN is a new Overweight ($38.50 price objective) at Morgan Stanley.
(NYSE:PEP): BTIG Research resumes Buy-rated research. Its price objective is $108.
(NYSE:RLGY): Shares are an Outperform ($54 objective) at RBC Capital, which says the company can ride the ongoing recovery in US real estate.
(NYSE:O): Morgan Stanley starts shares at Underweight with a price target of $38.
(NYSE:TK): The shipping stock is initiated with an Outperform at Raymond James, whose price objective is $61.
(NYSE:TWTR): Citing the company's mobile advertising prospects, Janney picks up the stock at a Buy. Shares, having slid with many momentum names of late, are currently trading up 1.44% as a result.
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