After last week's celebration of the
(^DJI) hitting 15,000, came the hangover. Although - considering
alcoholic mint juleps were the order of the day for Saturday's
Kentucky Derby, and Sunday was a similarly boozy Cinco de Mayo -
yesterday's decline was decidedly minor.
Among blue chips,
) fell, even after scoring an
. (Maybe its legendary former CEO was right to say
Only the Paranoid Survive
, especially as
Sigmund Freud's birthday
fell on a manic Monday this year.)
(BRK.A) rose 1.28% to a fresh peak, as
Warren Buffett said women are the key to
on his own board, apparently
) Marissa Mayer can run rings round the big boys, and yesterday
she showed up at a red carpet function sporting
. A touching tribute to the
dearly departed most famous blue haired broad of
Today in economics, March consumer credit is released at 3:00 p.m.
Eastern. On the earnings front, expect announcements out of
(ARO): The stock is tumbling 2.93% ahead of this morning's opening
bell on a Sell-from-Hold cut by Brean Capital.
American Eagle Outfitters
(AEO): Shares get downgraded to Market Perform from Outperform with
American International Group
(AIG): Citing a steep valuation and limited upside potential,
Goldman Sachs slashes the stock to Neutral from Buy.
(COH): Wells cuts the company to Market Perform from Outperform.
(HOLX): An earnings miss sees shares taken to Buy from Strong Buy
at ISI Group, whose price objective is lowered to $24 from $26.
Iconix Brand Group
(ICON): The owner of labels including Joe Boxer and London Fog is
lowered to Hold from Buy at Brean Capital.
Royal Bank of Scotland
(RBS): JPMorgan moves its fellow financial firm to Neutral from
): RKUS is reduced to Neutral from Buy at Lazard after it missed
first quarter earnings and gave a downbeat outlook for Q2. Shares
are sliding 17.58% this morning.
(STO): The Norwegian energy giant is now Neutral from Outperform at
(TIF): Wells Fargo takes TIF to Market Perform from Outperform.
(TJX): The retailer is reduced to Market Perform from Outperform at
Wells, sending it down more than 1% as I write. Shares, having
enjoyed four straight years of gains in excess of 20%, are now due
a breather, the bank believes.
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