) made for some mighty impressive
on Friday. Shares surged 4.75% to end at an historic high -
no mean feat in a week when its arch-rival
) imploded. The firm, whose myriad other brands include Aramis,
Aveda, Bobbi Brown, Bumble and bumble, Clinique, Flirt!, Origins,
and Smashbox, boosted its profit outlook. Today, however, its
excessive subsequent valuation sees an equity analyst advise that
investors temporarily step to the sidelines.
Clearly, what we have here is a Hamlet market. The
(INDEXSP:.INX), showing the decisiveness of Scandinavia's
star-crossed prince, has now zig-zagged for nine straight weeks.
Bull markets often end in such a burst of bipolarity and, to
slightly misquote act 1, scene 4 of Shakespeare's tragic play, it
does now seem that "
Something is rotten in the state of DeMark
." Stocks enjoyed a strong week despite the labor force
participation rate falling to 62.8%, which was where it was way
back in 1978. That was an antediluvian age when a
was being blamed for an anemic economy presided over by a
Democrat president. This, as the country found itself at daggers
drawn with the Russians in Eastern Europe, and
was all anyone could talk about
in outer space.
There's a song in there somewhere
. The year 1978 was also notable for a
Cold Warrior being killed off with a
in England's capital (
old school; these days
the Russians have moved on to serving their enemies
in the city's restaurants.) Should you still wish to go out
in the rain there, London Fog owner
) advanced 8.28% on the week. But don't expect protection from
(OTCMKTS:BURBY) iconic trench coats after
the company's head poncho just left to join
Today in economics, April's Institute for Supply Management
services index is expected to inch up at 10:00 a.m. E.D.T. On the
American International Group
(TSN) are all due to release results.
Now let's look at this morning's rating reductions, an eclectic
bunch that features a Chinese Internet firm plus headline stock
(AZN): Shares in the English pharmaceutical firm, which
surged 18% last week on talk of a possible buyout by
(PFE), are today taken all the way to Sell from Buy at Danske
: BMO Capital cuts the cosmetics company to Perform from
Extra Space Storage
(EXR): Shares get downgraded to Hold from Buy at KeyBanc
Helmerich & Payne
(HP): Guggenheim slashes the stock to Sell from Neutral.
Kodiak Oil & Gas
(KOG): The stock is now Neutral from Buy at SunTrust, which
also trims its target price by $2 to $13.
(NBR): NBR is now Sell from Neutral at Guggenheim.
(OAK): Keefe Bruyette moves the equity to Market Perform from
Outperform. Its price objective, previously $64, is now $60.
(RWT): RWT gets reduced to Perform from Outperform at JMP
(OTCMKTS:RYAAY): Raymond James reduces the recently
high-flying budget British carrier quite considerably, to Perform
from Strong Buy.
(SINA): Shares in the China firm, falling 3.90% before the
bell, are cut to Perform from Outperform at Oppenheimer.
(SFY): Canaccord Genuity gives the stock a Hold-from-Buy
(WCC): The industrial equipment name is now Neutral from
Overweight at JP Morgan.
New Stock Coverage:
Analysts Have Huge Candy Crush on King Digital
Chipotle Mexican Grill Flavor of the Month for
Cinco de Mayo