From the NiÃ±a, Pinta, and Santa MarÃa to
the three stooges
in half a millennium is a funny sort of progress, but equities did
end up on Columbus Day after the unholy trinity of McConnell, Reid,
and Boehner all expressed optimism that our debt ceiling debacle
will soon be resolved. Incidentally, us owing money is absolutely
nothing new. After all, the man who discovered the New World was
America's first pawn star
, his journey famously financed by Queen Isabella's decision to
loan out her crown jewels. Elizabeth Taylor, owner of eight wedding
rings, was likewise legendary for her love of jewels, and a hedge
fund heavyweight now finds himself reduced to
selling off Andy Warhol's rendering of the
to stay afloat.
As Detroit-born Robert Shiller won a Nobel Prize in economics worth
$1.2 million, his hometown -
back in bankruptcy court
- sure could use the money. Elsewhere an
), founded in 1941, fell 0.86%, as the man who invented the phrase
"axis of evil"
reminded us on Twitter
that our politicians were an even greater disgrace in that fateful
year than they are now.
There isn't any top-tier economic data due today, but third-quarter
earnings season starts in earnest with
Johnson & Johnson
(YHOO) all due to report results.
Atlas Pipeline Partners
(APL): Robert W. Baird lowers the limited partnership to Neutral
from Outperform due to an increasingly uncertain earnings outlook.
Its price objective, previously $43, is now $38.
(OTCMKTS:DASTY): The French design software firm, which tumbled
10.53% yesterday on an earnings miss, is today taken to to
Underweight from Neutral at HSBC Securities.
(DBD): Compass Point slashes the maker of Automatic Teller Machines
to Sell from Neutral.
(NSM): Wells Fargo moves the stock to Market Perform from
(SPN): The stock gets reduced to Sector Perform from Outperform at
(TDC): Shares, slumping some 16% before the bell, are now Neutral
from Buy at Sterne Agee.
(RIG): Argus lowers the oil services stock to Hold from Buy.
(TMS): TMS is taken to Perform from Strong Buy at Raymond James.
(VECO): Oppenheimer cuts the equity to Perform from Outperform.
New Stock Coverage:
Advance Auto Parts Hits a Pothole
Stock Upgrades: Xbox Marks the Sweet Spot for