Stocks surged once more, with the
(INDEXNASDAQ:.IXIC) hitting its highest level since September 28,
2000. (For some perspective, on that distant day Reuters began a
futuristic feature article thus: "
Imagine a world in which wristwatches also function
as telephones and mobile phones have built-in cameras."
) Industrials posted the best performance, paced by a 2.05% jump in
), whose CEO Jeffrey Immelt took over from Jack Welch four days
before the terrorist attacks of September 11, 2001.
), maker of colorful clogs, tumbled 2.02%. Flip-flops fared far
better, however, with Sandy Weill
changing his mind
about his earlier
change of heart
. And there was no stopping those
), which advanced another 3.58% to a price not seen since February
2011. Let's hope those Manhattan mommies, desperate to be seen
shuffling their offspring around in a $1,129 Buffalo
, are long the stock.
Today in economics, analysts expect July wholesale inventories to
post an improvement from the prior month's pace at 10:00 a.m.
Eastern. On the earnings front,
) are each expected to release results.
(AAPL): Shares get downgraded to Neutral from Buy at Bank of
America-Merrill Lynch, to Neutral from Outperform at Credit Suisse,
and to Neutral from Buy at UBS.
(BLK): UBS cuts the company to Neutral from Buy. Its price
objective is $280.
British Sky Broadcasting
(OTCMKTS:BSYBY): Shares are now Neutral from Overweight at
(CWTR): The stock, imploding 18% this morning, is taken to Neutral
from Overweight at Piper Jaffray.
(ED): Shares are downgraded to Hold from Buy at Jefferies, which
takes its target to $58 from $67.
(HBC): The stock is lower in London this morning after being moved
by JPMorgan to Neutral from Overweight amid concerns over its
emerging markets exposure.
Lions Gate Entertainment
(LGF): LGF gets lowered to Market Perform from Outperform at Cowen.
(PVH): The clothing company formerly known as Phillips Van Heusen
is removed from the Focus List at Citigroup.
Procter & Gamble
(PG): The consumer goods company, a key
(INDEXDJX:.DJI) member, gets downgraded to Neutral from Buy at
SunTrust. Issues include inconsistent top line growth.
(TTWO): TTWO is slashed to Sector Perform from Outperform at
Pacific Crest primarily due to concerns regarding its comparatively
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Disclosure: Minyanville has a business relationship with