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: Time to Go Apple Picking Again?


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

Well, T.S. Eliot did tell us this is "the cruelest month." Stocks, on a record run until Tuesday, endured their single worst session in weeks amid more saber ratting on the Korean peninsula.

Far from being an out-to-lunch artist, Eliot toiled for eight long years at a bank, and so likely saw coming a Dow (^DJI)-worst 2.80% decline in Bank of America (BAC) on a day when investors in the financial sector lost their shirts. (Jos. A. Bank Clothiers (JOSB), up 2.81% in an otherwise brutal tape, is exempt from all criticism.)

With all due respect to National Poetry Month, in recent years on Wall Street, history has not Rhymed, Busta, but repeated with eerily identical precision. We have seen this movie many times before and it is getting awfully tired, hence the 3.93% nosedive in Netflix (NFLX). On the bright side, Six Flags (SIX) rode bullish research to hit the highest level in its history. One flag for each Olympic ring, with South Korea's thrown in for good measure. They will love that in Pyongyang.

It's a relatively quiet day for earnings releases, but International Speedway (ISCA) did report results earlier this morning.

Apple (NASDAQ:AAPL): The tech titan, in a tailspin since September, today gets some welcome good news, with Lazard picking it up at a Buy. Shares are accordingly edging up slightly in today's pre-market trading as I write.

Argonaut Group (AGII): Shares are started with a Neutral at Compass Point, which establishes a price objective of $45. While underwriting results are picking up, the broker does not envisage an immediate upturn in ROAE (Return On Average Equity).

Banco Santander Mexico (BSMX): Nomura has a new Neutral on the name.

Grocery Stores: Casey's General Stores (CASY) is a fresh Market Perform at Wells Fargo, which assigns Outperforms on Pantry (PTRY) and Susser (SUSS).

Iridium Communications (IRDM): Sidoti starts the satellite stock at a Buy.

MEDNAX (MD): The equity gets covered with a Neutral at Goldman Sachs.

Electronics: Amphenol (APH) and Molex (MOLX) are each resumed at Neutral by Goldman.

(See also: Stock Upgrades: Panera Bread Rolling in Dough and Stock Downgrades: Microsoft Shareholders Jumping Out of Windows.)
< Previous
  • 1
Next >
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.
Featured Videos