Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

New Stock Coverage: Colgate Is All Smiles but Kimberly-Clark Cries Into Its Kleenex

By

Wall Street ratings agencies set the tone for today's stock market.

PrintPRINT
The S&P 500 Index (^GSPC), trading in a tight six point range yesterday, has now risen for six straight sessions. This as International Business Machines (IBM) added about 66 points to the Dow (^DJI) all by itself. Some may espy signs of the devil in the numerology, but for now let's all bask in stocks' best start to a year since 1997. Ah, 1997. The year when Apple Inc. (AAPL) was in real trouble, its stock price trading at about four bucks and dependent on a $150 million lifeline from arch rival Microsoft (MSFT) to avoid bankruptcy.

Blue chips have gained for nine out of ten sessions, which should be good enough for the one remaining skeptical dentist to recommend going long the market, especially as Colgate (CL) was just begun with a bullish buy. "Some tortures are physical, And some are mental, But the one that is both…Is dental." So said Ogden Nash, and, if you were the victim of that drunk driller, ain't that the truth. Send all his poor patients stock options in industry leader Henry Schein (HSIC), which hit an all time peak in taking its 12 month gains to 23.95%.

Also at an historic high is Spam maker Hormel (HRL), even as spam fell to a five year low. LED stock Cree Inc. (CREE) lit it up, surging 22.05% amid a broker boost. Only the government could call $50 light bulbs cheap but the stock now stands only $9.15 away from that level.

And upbeat analyst comments sent Novartis (NVS) 3.38% higher, investors heartened that Chairman Daniel Vasella will step down. His home was lit up some time ago of course. Today in economics, December leading indicators are expected to tick up at 10:00 a.m. Eastern.

In corporate action the quarterly earnings express rolls on, with AT&T Inc. (T), Bristol-Myers Squibb (BMY),E*Trade Financial (ETFC), Lockheed Martin (LMT), Microsoft (MSFT), Nokia (NOK), Raytheon (RTN), Southwest Airlines (LUV), Starbucks (SBUX), 3M Company (MMM), United Continental (UAL), and Xerox (XRX) all due to release results.

Atwood Oceanics (ATW): Barclays begins an Overweight on ATW.

Consumer Products: Kleenex maker Kimberly-Clark (NYSE:KMB) is rated Underperform with an $82 price objective at Credit Suisse, which has a new Neutral on Dow (^DJI) component Procter & Gamble (NYSE:PG) ($74), and Outperforms on Church & Dwight (NYSE:CHD) ($64), Clorox (NYSE:CLX) ($87), and Colgate-Palmolive (NYSE:CL) ($126.)

Equity One (EQY): Evercore establishes Equal Weight research on EQY.

Expedia (EXPE) The online travel outfit is assigned a Buy at Ascendiant Capital, whose objective is $77. Catalysts include a market-leading position in an industry poised for further global growth.

Splunk (SPLK): BMO Capital starts Outperform rated coverage, and a $39 target price, on SPLK. Channel checks are sufficiently strong to justify the company's current revenue multiple.

(See also: Stock Downgrades: Apple Looks Like a Lemon and Stock Upgrades: Blockbuster Day for Netflix.)
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
PrintPRINT

Busy? Subscribe to our free newsletter!

Submit
 

WHAT'S POPULAR IN THE VILLE