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.

Stock Upgrades: E TRADE Babies Are Set for Life

By

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

PrintPRINT
It's a funny old world when the home address of capitalism takes its orders from 1.3 billion communists who are even cheaper than IKEA, but dodgy manufacturing data in China did indeed set the tone for a terrible session on Wall Street. US stock markets thus continued their difficult start to 2014, with a triple-digit drop in the Dow (INDEXDJX:.DJI) taking it to a one-month low. A few equities did buck Thursday's remorseless tide of red ink, with Apple (NASDAQ:AAPL) ending up 0.85% after Carl Icahn took to Twitter (NYSE:TWTR) to announce an investment worth several hundred million dollars. If you think you've seen this movie before - the activist did the exact same thing only twenty-four hours earlier - it was obviously on Netflix (NASDAQ:NFLX), which rode both a broker boost and boffo earnings to surge an S&P 500 Index (INDEXSP:.INX)-best 16.48%. Mr. Ichan is of course is famous for saying, "If you want a friend, get a dog," but it seems even he needs a PayPal. Its owner eBay Inc. (NASDAQ:EBAY) shrugged off a rating reduction to rise 0.97%. Other asset classes predictably benefited from the malaise in equities, not least a suddenly resurgent bond market. Mohamed El-Erian may want to reconsider calling it quits at Pimco, for now it appears even the Biebs is a fan of fixed income. Bullion, likewise left for dead not long ago, enjoyed its best session in three months and has now surged some 5.05% in January alone. A nice anniversary present, that, as 166 years ago today a glint of gold rewrote world history.

There aren't any economic events that may move US stock markets today, but we get another battery of earnings announcements. Bristol-Myers Squibb (NYSE:BMY), Covidien (NYSE:COV), Honeywell (NYSE:HON), Kansas City Southern (NYSE:KSU), Kimberly-Clark (NYSE:KMB), Procter & Gamble (NYSE:PG), Stanley Black & Decker (NYSE:SWK), State Street (NYSE:STT), WW Grainger (NYSE:GWW), and Xerox (NYSE:XRX) are all expected to release results.

Angie's List (NASDAQ:ANGI): Angie's List stock gets a Buy-from-Neutral boost at brokerage boutique B. Riley & Co, sending it up on what otherwise looks like another difficult start for equity markets this morning.

BancorpSouth (NYSE:BXS): Shares are now Buy from Hold with Wunderlich, which cites a couple of recent accretive acquisitions. Its price objective, previously $26, increases to $30.

Electronic Arts (NASDAQ:EA): Hudson Square Research raises Electronic Arts stock to Hold from Sell.

E TRADE Financial (NASDAQ:ETFC): Those cute kids at E TRADE Financial clearly have it made, and may already be able to retire. The stock, which has surged some 104.87% in the past year alone, is today taken to Buy from Neutral at Compass Point. The company is an attractive takeover candidate, in the analyst's opinion. The target price also increases, by $9 to $25.

Harman International (NYSE:HAR): Harman International is hoisted to Overweight from Equal Weight by Barclays.

Jacobs Engineering (NYSE:JEC): Jefferies juices JEC to Buy from Hold.

Juniper Networks (NYSE:JNPR): Shares, already up sharply this morning, get moved to Outperform from Market Perform with William Blair.

Nokia (NYSE:NOK): Société Générale raises Nokia stock, which yesterday endured its single worst session in 16 months, to Buy from Hold.

Disclosure: Minyanville Media has a business relationship with E*Trade.

See also:

Stock Downgrades: You're Not Safe With Citigroup

New Stock Coverage: You Too Can Be Slim With Chipotle Mexican Grill
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
 
Featured Videos

WHAT'S POPULAR IN THE VILLE