The Fed had the best of intentions when it recently
pumped up its interest rate announcements to 2:00
. After all, the middle of Hump Day is when energy starts to sag,
and who better than Ben Bernanke & Co to provide a sugar rush
from which the economy appears utterly incapable of weaning itself
Unfortunately, it did not have the desired effect yesterday, with
(^DJI) enduring their single worst FOMC session-swoon since
September 21, 2011. Good thing that other Ben, ice cream purveyor
Mr. Cohen, provided an antidote hypoglycemia when he
sold his company to corporate giant
) for a cool $325 million cash
. Yesterday that stock hit the highest level in its history,
inspiring all hippies who care not a jot about making money, and on
May Day of all days.
For those who prefer this weekend's "Woodstock for Capitalists" to
the Birkenstock-wearing real deal,
(NYSE:BRK.A) scored an exceedingly rare analyst
. In 1969, not everyone was traipsing through the mud in upstate
New York, of course, though it may have seemed that way at the
time. On the other coast a bunch of geeks in Silicon Valley started
Advanced Micro Devices
) that same year. And based on yesterday's 14.18%
-best (^GSPC) jump in its shares, the nerds ultimately inherit the
We're now more than two-thirds of way through earnings season, but
key results continue to roll in. Among today's standouts are
American International Group
British Sky Broadcasting
Royal Dutch Shell
(ACTV): Troubled by an exodus of upper management, RBC Capital cuts
the application software company to Sector Perform from Outperform.
Advanced Micro Devices
): Shares, after a great run yesterday, are now Neutral from
Outperform at Macquarie.
(SAM): CrÃ©dit Agricole cuts the recently surging stock to
Underperform from Outperform amid valuation issues.
(CWT): Shares are downgraded to Hold from Buy at Brean Capital.
(COLM): COLM is cut to Hold at McAdams Wright Ragen.
(CRK): Shares are downgraded to Hold from Buy at Stifel due to
issues including limited oil drilling inventory.
(CNX): Morgan Stanley cuts the coal company to Overweight from
(DXPE): BB&T Capital Markets moves the industrial equipment
outfit to Hold from Buy.
(EXC): The nuclear power play is now Hold from Buy with Wunderlich.
(BEN): BEN is now Neutral from Buy at Sterne Agee.
(H): The stock is downgraded to Neutral from Outperform at Credit
Jack Henry & Associates
(JKHY): The business software stock downgraded to Market Perform
from Outperform at Wells Fargo.
): Raymond James reduces its recommendation on the credit card
company, famous for its
"Priceless" advertising campaign
, to Market Perform from Outperform. The US economy in the first
quarter "was definitely very choppy," its Chief Financial Officer
(NEWP): Shares are downgraded to Hold from Buy at Needham.
(MU): CrÃ©dit Agricole cuts the semiconductor stock to Underperform
(SCTY): Shares are now Neutral from Buy at Goldman Sachs.
): The giant French media firm gets downgraded to Equal Weight from
Overweight by Barclays.
(WPZ): Bank of America-Merrill Lynch lowers the limited partnership
to Neutral from Buy.
New Stock Coverage: T-Mobile Gets Lukewarm
Stock Upgrades: Comedy Central Owner Viacom Laughing All
the Way to the Bank