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: Guess Goes Back to the Future


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

Guess Inc. (NYSE:GES) may be about to go Back to the Future, revisiting its two-tone jean jacket glory days of 1985 when it outfitted Marty McFly's denim dreams. Today a broker says we may soon be romancing the stone-washed Marciano decade again, as it hails signs of stabilization in the clothing company's southern European segment.
Even as the bull run began in Spain, Wall Street's was rudely stopped in its tracks. The Sun Also Rises, to quote Papa Hemingway in Pamplona? Not so much, what with Canadian Solar (NASDAQ:CSIQ) cratering 3.19% even after an analyst upgrade. Thus did the Dow (INDEXDJX:.DJI) and S&P 500 (INDEXSP:.INX) each retreat from records. For this the Teutons must take full responsibility, as the downbeat tone was set early with an unexpected 1.8% plunge in German industrial production. Adding to the angst, Goldman Sachs's (NYSE:GS) Heidelberg-born head economist Jan Hatzius brought forward his Fed rate hike forecast. (An inflation-adjusted Pfennig for Mr. Hatzius' thoughts on his own employer predicting a Brazil-Argentina fútbol final this weekend, which would entail his Fatherland losing to the former today.) Truth be told, trading was dreary. Indeed, you know it's a dull day when we are indebted to sleepy Switzerland to spice things up. Apple Inc. (NASDAQ:AAPL) advanced 2.06% to levels last seen in October 2012 after snagging key Tag Heuer executive Patrick Pruniaux for its smartwatch. And Archer Daniels Midland (NYSE:ADM) gained 1.59% to a six-year best after buying Swiss firm Wild Flavors. Tesla Motors (NASDAQ:TSLA) tumbled 2.87% after it took July 4 pyrotechnics a little too literally. "You can't start a fire without a spark," Bruce Springsteen assured us in Dancing in the Dark, but Spark Networks (NYSEMKT:LOV) nosedived 5.46%. Crumbs Bake Shop (OTCMKTS:CRMB) imploded 11.76% to $0.15 after shuttering its stores, as the 15 minutes of fame for the cupcake craze officially ended with the unveiling of an ATM. Might the same be about to happen to bullion? It's a question that must bug the bulls, but it bears asking after gold gapped down for a second straight session.
Today in economics, May consumer credit is expected to contract from April's pace at 3:00 p.m. EDT. On the earnings front, Alcoa (NYSE:AA) unofficially ushers in second-quarter reporting season when it releases results after the close.
Now let's analyze this morning's research recommendations, a group encompassing commodity and medical device companies as well as our aforementioned Guess Inc.

Airbus (OTCMKTS:EADSY): UBS increases its investment assessment to Buy from Neutral.
Edison International (NYSE:EIX): Bank of America Merrill Lynch adds the electric utility to its US 1 List of favored equities.
Groupon (NASDAQ:GRPN): B. Riley & Co. gives GRPN a Buy-from-Neutral boost, sending the hitherto-slumping stock up 4.96% this morning. Its price objective, previously $6, is now $9.50.
Guess Inc.: Today's headline stock is now Overweight from Neutral at Piper Jaffray, whose target price is $32.
Medtronic (NYSE:MDT): Deutsche Bank adds the medical device maker to its list of Short-Term Buys.
Rio Tinto (NYSE:RIO): RIO gets raised to Overweight from Equal Weight by Barclays.
3M Company (NYSE:MMM): Argus hoists the Dow (INDEXDJX:.DJI) member to Buy from Hold, citing both its earnings and an improving economy.
Vale S.A. (NYSE:VALE): Barclays also boosts this Brazilian commodity company to Equal Weight from Underweight.
Williams Companies (NYSE:WMB): Credit Suisse adds the energy outfit to its US Focus List, sending it up sharply ahead of this morning's opening bell.
Also see:
New Stock Coverage: T-Mobile Is Pretty in Pink

Stock Downgrades: Horsehead Holding Needs a Sugar Daddy, Not the Godfather
< 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