Markets worldwide suffered from a bad case of broken China on
Monday, although equities did end off their worst levels after a "
" comment from a Fed official. (Mr. Fischer clearly confused taper
, but with
) surging 11.25% amid the mayhem, at least said pig will have
adequate lipstick on it.)
As an aging
went up for auction
, the company now officially appears to have a great future behind
it; shares tumbled 2.65% for a fifth straight decline.
Bank of America
) slumped 3.07% to lead the
(^DJI) lower, the stock a dead man walking hours before it
sponsored a viewing of
Invasion of the Body Snatchers
National Bank of Greece
) hit an all-time low to take its 12-month tumble to 76.37%.
The ghost of Jimmy Costas, a 1920s Greek greengrocer who gave us
the immortal phrase "
Yes, We Have No Bananas,
" fared far better, however, as
) rode a
to surge some 6.10%.
Enjoy it while it lasts
Today in economics, May new home sales and June consumer confidence
are each out at 10:00 a.m. Eastern. On the corporate front,
Barnes & Noble
Smith & Wesson
(WAG) are all due to announce earnings.
Agilent Technologies Inc.
(A): Shares get taken to Neutral from Buy at Goldman Sachs.
(AGN): Another downgrade for yesterday's worst performing
(^GSPC) stock, which Wells Fargo moves to Market Perform from
Outperform this morning.
American Vanguard Corp.
(AVD): Piper Jaffray reduces its rating to Neutral from Buy.
Chinese Gaming Stocks
Sands China Ltd.
(WYNMF) are both downgraded to Hold from Buy at Deutsche Bank.
(COH): Lazard lowers the upscale retailer to Neutral from Buy due
to increased competitive pressures.
Demand Media Inc
(DMD): Shares are slashed to Hold from Buy at Stifel, which cites
the loss of high margin advertising dollars.
Melco Crown Entertainment Ltd
(MPEL): Deutsche Bank moves the equity to Hold from Buy.
(NFLX): The video-streaming service, the top S&P 500 stock of
2013, is now Underperform from Market Perform with a $180 price
objective at Sanford Bernstein. Analysts wrote in a note that "Its
current valuation reflects unrealistic expectations across all
major economic levers of the business." Shares are currently down
about 2% as a result.
Pan American Silver Corp. (USA)
(PAAS): Shares are cut to Market Perform from Outperform with an
amended $10.53 price objective at Cowen, which notes lower silver
prices have hampered earnings potential.
(QIWI): The electronic online payment provider is moved to Neutral
from Buy at JPMorgan.
Sunoco Logistics Partners L.P.
(SXL): Bank of America-Merrill Lynch lowers the energy outfit to
Neutral from Buy.
Vanguard Health Systems, Inc.
(VHS): Shares, no longer trading on fundamentals following
yesterday's acquisition offer, get downgraded to Hold from Buy at
Western Gas Partners, LP
(WES): The limited partnership gets moved to Neutral from Buy at
Bank of America-Merrill Lynch.
New Stock Coverage: Nike, Inc. Just Keeps on Doing
Stock Upgrades: Lam Research Corporation Has Bears on the