One day, the music will finally stop on Wall Street, but it was
never going to happen in a week when
Gordon Gekko officially turned into Liberace
. The pianist, famous for saying "Too much of a good thing is
wonderful," would certainly relate to the current over-the-top
ebullience in equities.
(^DJI), now up four straight weeks, rose a further 1.56% to finish
at fresh peaks. When
Omaha's Oracle is downgraded
Athens, of all places, is upgraded
, that may eventually come to be seen as the moment Mr. Market lost
his mind. For now, however, let's just sit back and marvel at an
83% five-session surge in
National Bank of Greece
) and a concurrent 13% jump in France's
Compagnie FinanciÃ¨re Richemont
(OTCMKTS: CFRUY), which makes pricey Cartier watches it's a wonder
any of the country's citizens can afford. With Europe now in its
deepest economic debacle since the Second World
, the continent sensibly
voted a song called
as its top of the pops
on Saturday. That would surely be a more appropriate anthem than
current official ditty, Beethoven's
Ode to Joy
No top-tier economic data due today, but earnings announcements are
expected out of
Qihoo 360 Technology
Franklin Street Properties
(FSP): FSP is a new Neutral at Bank of America-Merrill Lynch.
Taylor Morrison Home
(TMHC) are each picked up with an Overweight at JPMorgan.
(JOEZ): The stock is a new Neutral at B. Riley & Co., whose
target price is $2.15.
(KORS): Canaccord Genuity covers the fashion firm at a Buy.
(OTCMKTS:MSLP): The maker of Amino 1, a hydration sports recovery
drink, is begun with a Strong Buy and $16 price objective at
Ascendiant Capital Markets. Product sales are approaching $100
million annually, and operating margins are poised to improve.
(STM): The semiconductor stock is trading 2.43% higher in London
this morning after being assigned an Overweight at JPMorgan.
(STB): BMO Capital begins Market Perform-rated research on STB.
Stock Upgrades: Priceline Is Going Places
Stock Downgrades: Dunkin' Bull Run Done?