Mercury and markets both headed inexorably higher in Manhattan,
with triple-digit days in each helping to send red-hot stocks to
new records even as citizens sweltered. The
(^DJI) hit historic peaks after Ben Bernanke offered to be
"accommodative" even as he called the recent rise in interest
"unwelcome." This feel-good factor even extended across the
Royal Bank of Scotland
) rallying an impressive 11%. Native son Andy Murray just taught
the English how it's done by winning Wimbledon, but yesterday it
was the turn of London-based bank
) to return the compliment. It
outfitted the freshly crowned British open
, who claimed golf's oldest prize with a stunning final round near
Edinburgh's fabled Firth of Forth. A bridge over that river, in an
almost-too-apt metaphor for Europe's endless exercise in financial
took 120 years to be painted
), fresh from tumbling 10.13%, clearly failed to win any of that
business. And finance ministers meeting in Moscow pledged to
. They were obviously inspired by Russia's largest company, which
just ordered a
$3.7 million tablet computer for its CEO
. What would comrade Marx say about that?
This morning in economics, June existing home sales are expected to
tick up from the prior month's pace at 10:00 a.m. Eastern. Peak
week for Q2 earnings reports is upon us, with today's quarterly
announcements expected to include
American National Bankshares
(AMNB): The financial firm sees its rating reduced to Perform from
Outperform at Raymond James.
(GIB): Goldman Sachs gives GIB a Neutral-from-Buy downgrade.
(CROX): The maker of colorful plastic clogs is cut to Neutral from
Outperform with Wedbush.
(JNPR): Shares are downgraded to Hold from Buy at Jefferies.
(HRB): The tax name is now Neutral from Buy at BTIG.
(HON): Nomura cuts the industrial conglomerate to Neutral from Buy.
(LNCO): LNCO is lowered to Neutral from Outperform by Robert W.
Baird as recent strength has left shares somewhat stretched, in its
(NOK): Oppenheimer takes the telecom name to Underperform from
Perform. Issues include accelerating smartphone competition and
increased interest expenses.
(ONXX): The company, subject of recent takeover talk, is lowered to
Hold from Buy at Deutsche Bank.
(AMTD): The discount broker gets downgraded to Market Perform from
Outperform by BMO Capital.
(TW): Deutsche Bank downgrades the equity to Hold from Buy.
(VFC): The maker of JanSport backpacks and North Face jackets is
lowered to Neutral from Outperform at Credit Suisse.
New Stock Coverage: Tremor Video Inc All Set to Shake
Stock Upgrades: American Campus Communities, Inc. Is
Kicking It Old School