Ominous omens abound: September has historically been the single
worst month in the market, we just marked five years since the fall
of Lehman Brothers, and last week's trading concluded on Friday the
13th. Yet equities still climb inexorably upward.
(INDEXNASDAQ:.IXIC) was the poorest performing major index, yet it
still advanced 1.70% to its highest level since the autumn of 2000.
(In that antediluvian era, paper chads decided elections, but
technology has thankfully taken us to a new age at
the ballot box
.) Back then, Eliot Spitzer, whose comeback attempt ended last
week, took an analyst to task for calling Internet Capital Group "
" in private even while urging the public to purchase. The company,
which now answers to the name of
), just jumped 12.99% so William Faulkner's line - "The past is
never dead. It's not even past" - rings truer than ever. Especially
), which isn't averse to
exhuming its deceased founder in advertising
and surged some 9.44%.
): Deutsche Bank downgrades the company to Hold from Buy.
: ISI Group gives Neutral-from-Buy downgrades to
Las Vegas Sands
(CEDU): Piper Jaffray reduces its investment assessment to Neutral
EZchip Semiconductor Ltd.
(EZCH): Shares, which slumped late last week, are today taken to
Perform from Outperform at Oppenheimer, which regards consensus
earnings estimates as overly optimistic.
(GSK) gets downgraded to Equal Weight from Overweight by Barclays,
(NVS) to Underweight from Equal Weight.
(GIMO): Raymond James reduces the networking name to Market Perform
(HOV): The homebuilder is cut to Underperform from Sector Perform
(MDAS): MDAS gets moved to Neutral from Buy at Lazard.
(PLD): The industrial real estate investment trust is taken to Hold
from Buy at Stifel.
(TI): Citigroup slashes the stock to Sell from Neutral.
Under Armour Inc
(UA): Shares are now Neutral from Positive at Susquehanna.
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