Kate Upton can't compete with Kate Middleton. The two-time
cover girl has been
awesome for equities
but it was yesterday's royal birth that pushed the
(^GSPC) to its 23rd historic high of 2013. Turning from wee bairns
to old fogies,
graybeards quite literally took center stage
as 77-year-old Carl Icahn,
sporting the latest line in designer stubble
, saw the
) he controls surge some 30.62% in its best showing since October
), which topped the S&P 500 on Wednesday, fell 4.29% on Monday
to post the index's poorest performance, thanks to Dan Loeb - who
knows better than most that
success is cyclical
) jumped 3.22% to a two-year high after settling a $745 million
suit. Funny, one would think that the firm
famous for its 44-page dress codes
wouldn't mind being so outfitted.
A quite quiet week in economics continues, with no top-tier data
due this morning. By contrast, this is the single busiest spell for
Q2 earnings announcements, with
Discover Financial Services
United Parcel Service
(UTX) all among companies reporting results today.
(BNNY): Shares are now Neutral from Overweight at JPMorgan.
(AXS): Shares are lowered to Neutral from Buy at Bank of
Bank of Marin
(BMRC): DA Davidson downgrades the financial firm to Neutral from
(DV): Morgan Stanley moves the stock to Equal-Weight from
(ESYJY): The budget airline is taken to Neutral from Overweight at
Intercontinental Hotels Group
(IHG): The accommodation outfit is now Neutral from Buy at BNP
(ISIS): Piper Jaffray reduces its rating to Underweight from
(NFLX): Shares, off sharply ahead of the opening bell after
announcing earnings, are now Hold from Buy with a $260 price
objective at Cantor Fitzgerald. The stock, trading at 40.3 times
EBITDA (Earnings Before Interest, Taxes, Depreciation, and
Amortization) based on fiscal year 2013 estimates after a record
run, is now viewed as fairly valued.
(PNC): Sterne Agee slashes the stock to Neutral from Buy amid
expectations for moderating earnings growth into 2014 and 2015.
: Keefe Bruyette cuts
(NWBI), both now Perform from Outperform.
(SBH): Sterne Agee slashes the stock to Neutral from Buy.
TravelCenters of America
(TA): TA gets taken to Perform from Outperform at Raymond James.
): Troubled by Dan Loeb's Third Point selling a substantial stake,
Needham cuts the company to Hold from Buy. It sees fair value for
the stock in the $29 per share range.
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