US stock markets were becalmed despite the best efforts of the
Windy City. Market-friendly comments from its Fed head Charles
Evans (no Jack, he is not one of those "
") failed to stop the
S&P 500 Index
(INDEXSP:.INX) from snapping its recent winning run. Indeed even
Mr. Welch couldn't blame President Obama for yesterday's sluggish
showing in equities, as he opted to spend the day
schmoozing with Wall Street CEOs
as opposed to
journeying to Gettysburg
. The notorious events on the
17th floor of New York's Lipstick Building
were again in the news. An
analyst puckered up
), which can afford the accent on its 'e' after recently trading to
historic highs. And investors smooched with
), which hit a fresh peak in taking its 12-month increase to
Clearly, a great kiss can pay dividends. Even after
. Alas, looking for love in all the wrong places was a fellow from
who proposed at
). It tumbled 10.97% to lead all S&P 500 laggards.
In terms of economic events that may move US markets today, at
10:00 a.m. Eastern, we get both September business inventories and
October existing home sales. At 2:00 p.m., minutes from the Federal
Open Market Committee's October 30 meeting are released. Regarding
(SPLS) are all due to release quarterly results.
Bank of America
(BAC): Amid increasingly limited upside, Evercore pulls the stock
from its Conviction Buy list, while still rating it Overweight
(INDEXDJX:.DJI) member, fresh from scoring $100 billion worth of
orders at the Dubai Air Show, gets cut to Perform from Outperform
at Oppenheimer. Valuation issues loom increasingly large, the bank
(CHRW): Deutsche Bank downgrades the stock to Hold from Buy.
(ED): The electric utility is now Hold from Buy at Argus.
(OTCMKTS:DNSKY): SociÃ©tÃ© GÃ©nÃ©rale slashes its fellow European
financial firm to Sell from Hold.
Dick's Sporting Goods
(DKS): Amid "mediocre" same-store-sales growth, BMO Capital moves
the stock to Underperform from Market Perform.
(GOOG): Evercore removes Google stock from its Conviction Buy list.
This is essentially a valuation call, with Google now basically at
the broker's $1,100 price objective.
(MDT): The medical device maker is moved to Hold from Buy at Argus
due to market share erosion.
): Stock in Twitter is currently trading lower after getting taken
to Hold from Buy at Cantor Fitzgerald. The broker says Twitter's
valuation is expensive relative to
(WHF): Shares, slumping of late, are lowered to Hold from Buy with
Wunderlich, whose target price is $15.50.
(WDAY): Cowen cuts the company to Market Perform from Outperform.
Stock Upgrades: Best Buy a Better Buy After Yesterday's
New Stock Coverage: Green Mountain Coffee Fits to a