"Buy when it snows, sell when it goes," says the old Wall Street
saw. Since we are
still getting sleet in the second half of April
, maybe yesterday's decline will ultimately be seen as an ideal
opportunity to purchase equities at a discount. Indeed futures are
currently up as I write, but the market's immediate past appears
At least Wednesday's woe was an equal opportunity offender. Diehard
Met fan David Einhorn lost $30 million in
) alone as that troubled tech stock fell a further 5.50% to levels
last seen in 2011. And
Bank of America
), whose logo is emblazoned all over Yankee Stadium, was met with
Bronx cheers after it bombed 4.72% to lead
Across the Atlantic, Britain's finance minister
attended Margaret Thatcher's funeral with a tear in
, either out of grief at her passing or having just learned that
UK's unemployment rate hit its highest in 17 months. In a cratering
commodity complex silver slumped to a more than two-year low,
) slid 5.05%,
(NOR) nosedived 5.71% to an historic trough,
Freeport-McMoRan Copper & Gold
(FCX) fell 4.27%, and miner
(BHP) moved 3.77% lower after announcing iron-ore production
imploded 5%. This as
the London premiere of
Iron Man 3
was postponed for the funeral of the Iron Lady
. And the English say us Americans don't get iron-y.
Today in economics, April's Philadelphia Fed Index and March
consumer confidence are each out at 10:00 a.m. Eastern. On the
African Barrick Gold
Chipotle Mexican Grill
International Business Machines
(VZ) are all due to release results.
American International Group
(AIG): BMO Capital begins Outperform rated research on AIG.
(AON): The insurance outfit is assigned an Underperform by BMO.
: HSBC Securities initiates Overweights on
(POT). It has a new Neutral, and $66 target price, on
(GOOG): The Internet search giant gets assigned an Overweight at
(P): Lazard launches the Internet radio outfit at a Neutral.
Madison Square Garden
(MSG): Davenport begins Buy rated research.
Marsh & McLennan
(MMC): BMO Capital covers the company at Market Perform.
(MM): Shares are set an Outperform at Northland Capital, whose
target is $12.
(PKI): Citigroup picks up PKI at a Neutral.
(QLYS): Saying that the company's robust pipeline of new cloud
services can propel growth, Imperial Capital covers it at
Outperform with a $15.10 objective.
(SCSS): Raymond James resumes the mattress maker at Outperform,
although shares are sleeping with the fishes as we speak
unfortunately, off about 4% after announcing earnings.
): The key
(^DJI) component, up 41.81% in the past year having hit an historic
high on Monday, is resumed with an Outperform at BMO Capital.
Stock Upgrades: UPS Can Deliver for Investors
Stock Downgrades: Krispy Kreme Disappears Down Doughnut