Thanks to a mountain bluebird, US markets scaled new summits,
even as we
mourned the man who coined the term "fiscal
) jumped 60% in two trading sessions as the
(INDEXDJX:.DJI), now up for five straight weeks, reached fresh
) gained 13% on its impressive October same-store sales. Its
Forth And Towne division
- whose F.A.T. acronym was truly unfortunate, especially as its
target market was increasingly plump baby boomers - has long since
been consigned to history.
Abercrombie & Fitch
), however, is
now going after a bigger demographic
; its shares promptly shed 6.9%. Standard & Poor's, which can
never eat enough alphabet soup, cut France's credit rating to AA
from AA+. Moving from French letters to, well, French letters, the
world's largest condom maker went public
. (And if, in the coy formulation of British chemists, you do
indeed require "Something for the weekend sir?" you are in luck,
Postal Service is about to deliver
) packages on Sundays.)
), which fell 15%, is now sensibly opting to
diversify into the tank business
. Speaking of tanks, Italian arms outfit
(OTCMKTS:FINMY) imploded 4.8%. How terribly sad that we still
haven't said a farewell to arms makers,
exactly 95 years to the day
- on the 11th hour of the 11th day of the 11th month - that "the
war to end all wars" came to a close.
There is no economic data due today that may move US markets, and
both banks and the bond markets are closed in observance of
Veterans Day. Regarding specific stocks, expect quarterly earnings
announcements out of
Nordic American Tanker
(AGCO): Goldman Sachs slashes the construction machinery company to
Sell from Neutral.
Associated British Foods
(OTCMKTS:ASBFY): It's enough to make potty-mouthed Scottish chef
Gordon Ramsay turn the air blue, as the English cuisine company
gets downgraded to Equal Weight from Overweight by Barclays.
British Sky Broadcasting
(OTCMKTS:BSYBY): Shares are now Reduce from Buy at Nomura after
(BT) stole away its European soccer rights. (Citigroup, however,
says we "would see significant weakness as an opportunity to buy
(OTCMKTS:DTEGY): The stock is now Sell from Neutral at Goldman.
(DIOD): Raymond James reduces its rating to Outperform from Strong
(LLY): Pharmaceutical firm Eli Lilly gets slashed to Sell from
Neutral at Goldman Sachs. Speak of the devil - over the past year,
Eli Lilly shares have returned investors exactly 6.66%. Goldman's
principal concern relates to the relative thinness of Eli Lilly's
drug pipeline, and the stock is currently falling 1.48% as a result
of the analyst's action.
(OTCMKTS:ITVPY): Amid the
fallout impacting both BT Group and British Sky Broadcasting, this
English television company is cut to Neutral from Buy.
(LRCX): Lam Research is lowered to Neutral from Positive at
Susquehanna. Lam Research is a semiconductor equipment stock.
Penn National Gaming
(PENN): Shares are now Equal Weight from Overweight at Barclays.
(TTM): Tata Motors is taken to Neutral from Buy at Nomura. Luxury
auto giant Jaguar is among the roster of brands owned by Tata
(TOO): Bank of America-Merrill Lynch lowers the limited partnership
to Neutral from Buy.
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