Stocks wrote another exciting new chapter, with US markets
setting fresh records even as the CEO of
), blaming a "hard to read" macroeconomic backdrop, saw his stock
tumble 10.96%. (He should surely have stuck with
Houghton Mifflin Harcourt
), which jumped 32.17% on its first trading day.) Thus did both the
S&P 500 Index
(INDEXSP:.INX) end at historic highs.
(INDEXNASDAQ:.IXIC) had to content itself with reaching levels last
seen in 2000, when Cisco was briefly the world's most valuable
company and SisqÃ³ ruled the radio with his
. Now the networking name is clearly an emperor without clothes,
although Victoria's Secret owner
), up 0.90% to a new peak of its own, has nothing to hide under its
$10 million bras
), maker of fire detectors, jumped 2.37% after it beat Street
estimates. Must be all the business from
), whose cars have been thrice on fire of late and where fire
trucks were just called to investigate a hot metal machinery
malfunction at its Fremont headquarters. It cooled off another
0.79%. No such troubles for
), which gained 4.91% to finish at its highest close since last
week's initial public offering.
Twitter town hall was a predictable fiasco
, must curse the day the micro-blogging service set up shop.
"What's your favorite type of whale?" was one of the tamer
questions asked. Do you Shamu? On a day
(SEAS) slumped 6.52% after announcing earnings, hopefully not.
In terms of economic events that may move US markets this morning,
September wholesale inventories are expected to ease off slightly
from the pace seen in August at 10:00 a.m. Eastern. Regarding
(MMS) beat Street estimates when it reported quarterly results
earlier this morning.
(BBRY): BlackBerry is moved to Underperform from Neutral at
Macquarie. Over the past 12 months, BlackBerry
stock has tumbled 23.73%.
(DISH): Broadcaster DISH Network gets downgraded to Equal Weight
from Overweight by Barclays. Earlier in the week, stock in Dish
Network hit its highest level since May 2000.
(GOGO): Inflight Wi-Fi provider Gogo, which has surged of late, is
today lowered to Underweight from Equal-Weight at Morgan Stanley.
(K): Barclays cuts the cereal company to Underweight from Equal
(KSS): More bad news for Kohl's Corp, the retailer whose stock
imploded 8.08% yesterday even in a record-breaking stock market.
BMO Capital cuts Kohl's Corp, whose third-quarter results were
worse than expected, to Perform from Outperform.
(PRU): Deutsche Bank downgrades the insurance outfit to Hold from
Tile Shop Holdings
(TTS) Fresh from yesterday's 38.96% tumble in the stock amid
allegations of accounting hanky panky, Citigroup takes TTS to
Neutral from Buy.
New Stock Coverage: Ominous Echoes of '87 at
Stock Upgrades: Ball Corporation About to Bounce