With September, statistically the market's single worst month of
the year, now behind us, we enter October, which begins with a
government shutdown and ends on Halloween. So nothing to worry
about, then. As it is,
(INDEXSP:.INX) shares sank for a seventh session in eight as
Congressional gridlock turned even Wall Street's money men into the
99%. (Although, in a nice touch,
Brookfield Office Properties
) - whose
One Liberty Plaza literally looks down on Zuccotti
- surged 13.71% amid the remorseless tide of red ink.)
It's a little known fact that Prince actually penned his iconic
ditty "Party Like It's 1999" in 1982 and
) paid appropriate homage, its shares certainly now going for a
song after a 2.71% tumble took the retailer to a new 31-year low.
And call it the curse of Britney. First the singer who
gave her husband the boot by
) message saw that
implode another 1.06%. And no sooner does the
) endorser put her money in
) then the pride of Atlanta from
loses its long-running most valuable brand
Today in economics, a slippage is seen in both September's
Institute for Supply Management's manufacturing index and August
construction spending, each out at 10:00 a.m. Eastern. In earnings
(WAG) are all due to report results.
(ACTV): Shares, no longer trading on fundamentals following
yesterday's buyout bid, are downgraded to Hold from Buy at
Jefferies. Its amended price target is $14.50.
(ALKS): Morgan Stanley moves the stock to Equal-Weight from
Beacon Roofing Supply, Inc.
(BECN): Robert W. Baird reduces its recommendation to Neutral from
Black Hills Corp
(BKH): The electric utility gets moved to Neutral from Overweight
: Raymond James reduces ratings on
Buffalo Wild Wings
(BWLD), which yesterday hit the highest level in its history,
Carrol's Restaurant Group
Fiesta Restaurant Group
Red Robin Gourmet Burgers
(RRGB). All are now Outperform from Strong Buy.
(NASDAQ:CEPH): Bank of America-Merrill Lynch lowers the equity to
Neutral from Buy.
Del Frisco's Restaurant Group
(DFRG): The owner of upscale steakhouses is slashed to Outperform
from Strong Buy at Raymond James.
Finish Line Inc
(FINL): Shares are falling before the bell after being downgraded
to Sell from Neutral at Goldman Sachs.
First Cash Financial
(FCFS): FBR Capital cuts the credit services company to Market
Perform from Outperform mainly due to valuation concerns.
JC Penney Company, Inc.
): The plunging retailer, which
yesterday touched lows not seen since 1982
, is moved to Hold from Buy at Argus this morning. In recent store
visits, it worryingly noted that JCP Everyday merchandise was
discounted by some 40%-50%.
(PKE): Shares are now Hold from Buy at Needham.
(TMK): The life insurance outfit gets lowered to Market Perform
from Outperform with a $69 price objective at FBR Capital, which
cites the sustained sales challenges it faces.
(OLED): Canaccord Genuity slashes the stock to Sell from Hold. Its
price objective, previously $30, is now $19.
Stock Upgrades: On Jimmy's Birthday, Buy
New Stock Coverage: E.T. Phone Home? No -- T.I. Call
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