They say history doesn't repeat but, thanks to bunk, junk
) and punk, last week it did definitely rhyme. Stocks snapped a
four-week losing streak as the aforementioned poetic quartet
enlivened holiday-shorted activity in equities.
), whose founder famously said "history is bunk," jumped 5% after
emerging from junk
. As for the
application software stock, it rose 15.17% to finish Friday at a
fresh 52-week peak. And
) Marissa Mayer,
of punk hairdo fame
, unveiled the company's first new logo redesign in 18 years. Ms.
of Finnish heritage
, will have enjoyed seeing pride of Helsinki
) gain 40.6%. This,
the year of the snake, has literally been
to the erstwhile tech titan. Alas
), its merger partner, slid 6.7% as investors recoiled from the
unimaginative idea of replacing a middle aged CEO named Steve with
one called Stephen.
Today in economics, analysts call for a contraction in July
consumer credit at 3:00 p.m. Eastern. In earnings action,
Palo Alto Networks
Pep Boys-Manny, Moe & Jack
(PVH) are all due to report results.
Apparel & Accessories
: Nomura has new Neutrals on
American Eagle Outfitters
(URBN). It begins Buys on
Abercrombie & Fitch
(DPZ): KeyBanc has a Buy on the fast food firm.
Lululemon Athletica inc.
(LULU): The yoga apparel company, which has endured a difficult
year amid an executive departure and sheer pants problem, is begun
with an upbeat Buy at Citigroup. The bank cites potentially better
profit margins and sales going forward.
(OSK): The trucking name is resumed at a Sector Perform by RBC
(PDS): Barclays picks up PDS at an Equal-Weight.
: William Blair assigns Outperforms on both Standard & Poor's
(SIG) Shares are started with a Buy at Nomura.
(S): Evercore establishes the telecom stock at Equal-Weight.
Third Point Reinsurance
(TPRE): The property and casualty name is a new Neutral at JPMorgan
but Bank of America-Merrill Lynch, with a Buy, is more bullish.
Ulta Salon, Cosmetics & Fragrance, Inc.
(ULTA): Citigroup starts the stock with a Buy and establishes a
price objective of $125.
Wal-Mart Stores, Inc.
(WMT): The key
(INDEXDJX:.DJI) component is covered with a Buy at Goldman Sachs,
which highlights its "modest but durable growth profile."
Stock Upgrades: Pucker up to Estee Lauder
Stock Downgrades: Not Even John Stamos Can Save