Equities dropped, despite the admirable efforts of Don, Dan, and
Doug. Mister Draper inspired a
$35.1 billion advertising industry deal between
), with the newly merged entity to be called Publicis Omnicom.
(Those endlessly imaginative Madison Avenue minds, I tell ya.)
Mister Loeb propelled an
(^GSPC)-best 11.77% advance in
) after taking a stake in the fertilizer firm. And Mister
Oberhelman saw his
) jump 1.17% to top all
(^DJI) issues. Yet Mister Market remained utterly unmoved. Perhaps
yesterday's stumble was merely "
the pause that refreshes,
" to employ
) iconic ad copy, following five straight weeks of increases in
equities. One wonders, though, how Coke - under the umbrella of
Publicis - will hit it off with
(PEP) client Omnicom. Elsewhere
(MSFT) dropped again.
Four years to the day
after its much-ballyhooed search announcement, the company clearly
still hasn't found what it's looking for.
Today in economics, The Conference Board releases its July consumer
confidence index at 10:00 a.m. Eastern. In Washington, DC, the
Federal Open Market Committee starts its two-day policy meeting.
And on the earnings front,
(UBS) are all due to report results.
(CHH): The stock is cut to Underperform from Perform with Wells
(CL): Shares are now Neutral from Buy at Nomura.
Corporate Office Properties
(OFC): The rating is reduced to Neutral from Buy at Robert W.
Baird, which also trims its target price by to $29 from $30 amid
emerging issues regarding its portfolio occupancy.
(DE): DE gets lowered to Neutral from Buy at Longbow.
(DENN): Roth Capital reduces its research rating to Neutral from
(DHI): Raymond James reduces the real estate name to Underperform
from Market Perform.
(ELN): The health care company, no longer trading on fundamentals
following an $8.6 billion buyout by
(PRGO), gets downgraded to Hold from Buy at Jefferies.
(HTS): JMP Securities moves the stock to Market Perform from
(LMNX): LMNX is lowered to Neutral from Buy at UBS.
(MGLN): Citigroup slashes the stock to Sell from Neutral.
NASDAQ OMX Group
(NDAQ): Goldman Sachs gives the exchange operator is a
(OPEN): Shares are taken to Neutral from Outperform at Macquarie
due to valuation among other concerns.
(POT): Cantor Fitzgerald cuts the fertilizer firm to Hold from Buy.
(PHM): The home builder, upgraded elsewhere this morning, is also
downgraded to Market Perform from Outperform at Raymond James.
(SNDK): Shares are now Neutral from Buy at Goldman.
(SOHU): The stock is moved to Equal-Weight from Overweight at
(SAVE): The stock is now Neutral from Buy at Citigroup.
(TEN): TEN is taken to Equal Weight from Overweight by Barclays.
(TEVA): TEVA is taken to Sell from Neutral at Goldman.
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