Stocks gave us another standing ovation, as investors bet big
ahead of the Fed Vice Chair's appearance in the hot seat.
(Regardless of what Janet Yellen says today, her furniture will
surely prove far better value for the money than
Francis Bacon's $142,405,000 version
) - up 3.03% on the day - was sheer bliss in
flying by the seat of its yoga pants
.) US markets rose yet again, with the
S&P 500 Index
(INDEXSP:.INX) each reaching fresh records. Who needs
), 111 years young, saw its stock surge 9.39%?
) jumped 3.04% to a fresh 52-week peak as
Marissa Mayer auctioned off domain name
. On a day shares of hoagie hero
) posted an aprÃ¨s-earnings 9.31% increase, her timing was
impeccable. Alas, Mayo didn't pass muster with
Bank of America
), which must regard
his negativity on the name
as a bunch of baloney after its stock advanced 2.32%.
In terms of events that may move US markets this morning, as
mentioned, the confirmation hearing for Janet Yellen to head the
Fed commences at 10:00 a.m. Eastern. Regarding specific stocks,
expect earnings announcements out of
Helmerich & Payne
Affiliated Managers Group
(AMG): Goldman Sachs takes its fellow financial name to Neutral
(CSCO): Cisco Systems, a key Dow component that makes Internet
routers and switches, gets downgraded to Hold from Buy at Deutsche
Bank. Stock in Cisco Systems is currently imploding about 11% after
disappointing quarterly results that revealed concerns regarding
China, among other issues.
(OTCMKTS:EONGY): The German utility outfit is cut to Equal Weight
from Overweight by Barclays.
(OTCMKTS:HENKY): SociÃ©tÃ© GÃ©nÃ©rale slashes the German glue and
adhesives giant, recently trading atop historic highs, to Hold from
(HTGC): Shares are now Hold from Buy at Wunderlich, whose amended
price objective is $18. The brokerage sees constrained potential
upside from current levels.
): Wow, that was quick. Lululemon Athletica stock rose just 3.03%
, but this may be a downward-dog day for the yoga-apparel outfit.
This as Sterne Agee lowers Lululemon Athletica to Underperform from
(NTES): Netease.com is now Hold from Buy at Deutsche Bank,
Yesterday, stock in Chinese Internet outfit Netease.com gained
3.44%, but shares are tumbling some 10% before today's opening
Penn National Gaming
(PENN): JPMorgan moves the casino company to Neutral from
(VIV): The telecom stock gets taken to Neutral from Buy at Goldman
(OTCMKTS:TSCDY): Goldman slashes the British grocer to Sell from
(WHF): Citing a risk/reward ratio that is now roughly in balance,
Robert W. Baird reduces its rating to Neutral from Buy. Its price
target is also trimmed, by $1 to $15.
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