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: The Gap Inc. Is Dressed for Success

By

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

PrintPRINT
Both Ben Bernanke and the Fed he heads have had better weeks. Confirming that bad news does indeed arrive in triplicate, Dow Industrials (^DJI) - up over 114 points to an historic intra-day high of 15,634.32 in the morning - ended in the red after the latest musings from our central bank. Still, in The Wall Street Journal's words, the FOMC's "latest policy statement failed to make waves." An odd thing to say about the good ship QE, perhaps, but nautical themes did dominate the day. "London Whale" JPMorgan (JPM) posted an especially impressive performance, while Shark Week broadcaster Discovery Communications (DISCA) scored an analyst upgrade. (Alas, investors still lost their Sharknado shirts in the stock, which sunk 1.58%. No, if it was Jaws you were after, Mako Surgical (MAKO) was the one making money talk, jumping 12.95%.) A reviled Riverbed (RVBD), meanwhile, slept with the fishes in tumbling 10.81%. This as Dell Inc.'s (DELL) Silver Lake ran dry, with the stock dropping 1.56%. They could surely use a fresh application of FactSet's (FDS) SharkRepellent.

Today in economic data, consensus calls for an uptick in July's Institute for Supply Management manufacturing index at 10:00 a.m. Eastern. On the earnings front, results are released out of American International Group (AIG), BMW Group (BAMXF), ConocoPhillips (COP), Exxon Mobil (XOM), Kellogg (K), Kraft Foods (KRFT), LinkedIn (LNKD), Lloyds Banking Group (LYG), New York Times (NYT), Procter & Gamble (PG), and Société Générale (SCGLY).

Apparel/Accessories: FBR Capital establishes fresh Market Performs on Ann Inc. (ANN) - formerly known as AnnTaylor - Chico's FAS (CHS), Francesca's (FRAN), and Victoria's Secret owner L Brands (LTD), formerly known as Limited Brands. It has an Underperform on the former Dress Barn, now known as Ascena Retail (ASNA). More upbeat Outperforms are ascribed to Express Inc. (EXPR) and underwear outfit Hanesbrands (HBI).

Entravision Communications (EVC): Evercore resumes an Overweight on EVC.

Guess Inc. (GES): Susquehanna starts the stock at a Neutral.

Meritor (MTOR): The auto parts firm is assigned a Neutral at JPMorgan.

Micron Technology (MU): Goldman Sachs has a new Neutral on the tech name amid a lack of compelling catalysts.

The Gap Inc. (GPS): The resurgent clothing retailer is covered with an Outperform at FBR Capital.

(See also: Stock Upgrades: It's Still Not Too Latte to Invest in Starbucks Corporation and Stock Downgrades: Bayer AG Has a Massive Headache.)
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