(^DJI) surged by triple-digits as the Fed began meeting behind
closed doors. Oh, to be a fly on the wall at that confab. (Then
again, given how President Obama treats
, perhaps not.) Elsewhere in Washington, our
Treasury Secretary tidied up his indecipherable
and - suitably inspired -
) hit the highest level in its history. The sword was still
mightier than the pen, however, as an index of defense stocks
) reached a fresh peak, on news it is
increasing its forays into food
. Similarly rising to a new best was
), on news it is
turning ever more attention to caffeinated
. And for those java-loving insomniacs who are up all hours,
night-vision camera maker
) rode a
to advance an
This afternoon the Federal Open Market Committee concludes its
two-day monetary policy meeting, to be followed by Ben Bernanke's
press conference. In earnings action, expect announcements from
Hennes & Mauritz
(ARGKF): Shares in the power generator provider are slumping 3.40%
in today's European trading after getting downgraded to Neutral
from Buy at UBS. Concerns include foreign currency issues and power
American Eagle Outfitters
(AEO): Citigroup cuts the clothing company to Neutral from Buy.
Brown & Brown, Inc.
(BRO): The insurance outfit gets reduced to Market Perform from
Outperform by William Blair.
Century Aluminum Co
(CENX): The commodity company is lowered to Underperform from
Neutral by Bank of America-Merrill Lynch.
Cliffs Natural Resources Inc
(CLF): Bank of America-Merrill moves the stock, a strong performer
yesterday after an extended period of underperformance, to
Underperform from Neutral. The bank's price objective, previously
$24, is taken to $16. Accordingly, shares are slumping 1.6% as I
(KLAC): Stifel cuts the stock to Hold from Buy mainly due to
Lincoln National Corporation
(LNC): Shares are cut to Market Perform from Outperform by Keefe
(NWSA): With the company spin-off having been approved, the media
name is now Neutral at BTIG Research.
Novo Nordisk A/S
(NVO): The Danish drugmaker best known for its diabetes franchise
is now Underperform from Neutral at BNP Paribas.
Research In Motion Ltd
(RIMM): The tech stock is currently off about 3% after getting
moved to Underperform from Perform by Sanford Bernstein, which
feels that projections for the BlackBerry 10 could be overly
Sonoco Products Company
(SON): Shares are reduced to Neutral from Buy with an amended price
objective of $37 by Robert W. Baird, which says recent
outperformance has left the risk:reward ratio less compelling.
Sprint Nextel Corporation
(S): Macquarie takes the telecom stock to Neutral from Outperform.
Tetra Tech, Inc.
(TTEK): Brean Capital takes TTEK to Hold from Buy after an earnings
pre-announcement that suggests operational improvement is still
several quarters away.
New Stock Coverage: The Coca-Cola Company Poised for Nice
Stock Upgrades: Adobe Systems Incorporated Is No 'Flash'
in the Pan
Disclosure: Minyanville Studios, a division of Minyanville
Media, has a business relationship with BlackBerry.