Spooked by the Fed's fast-approaching
tapir - best known for its prodigious schnozzle
- US stock markets once again failed to pass the smell test.
Although, as fertilizer firm
) topped the entire
S&P 500 Index
(INDEXSP:.INX) with its 10.68% surge, that may be just as well. "
" was riding high in the charts in May 1980, and yesterday new-home
sales saw their steepest increase since that distant month. This,
along with robust private-sector job growth announced by
Automatic Data Processing
), is what had good-news-is-bad-news Wall Street so concerned.
ADP's passwords were just brutally compromised
. These permutations really are far too easy for a hack to crack,
invariably being an easily-guessable variation on the name of your
significant other or sports team. (Although, admittedly, for the
really life-or-death stuff like
the Nuclear Launch Code, they tend to be utterly
impenetrable, like "00000000"
). Among stocks in the news, an iconic tech firm from Ontario,
lately having fallen on hard times, tumbled another 2.54%. This
after Reuters ran a headline informing us "
) is 'here to stay', interim CEO tells customers." Surely the
immediate proximity of words five and six in that sentence are a
little ironic, no? Even Ottawa's own Alanis Morissette - whose
"Ironic" was notably irony-free
- can see that.
In terms of economic events that may move US markets today, at
10:00 a.m. Eastern consensus calls for a fall in October factory
orders. Regarding specific stocks,
Jos A Bank
Pacific Sunwear of California
Royal Bank of Canada
(ZUMZ) are all due to release quarterly results.
(NASDAQ:): Shares are now Neutral from Buy at UBS.
in as many days for the firm, today taken to Hold from Buy at
Clear Channel Outdoor Holdings
(CCO): B. Riley reduces its rating to Sell from Neutral.
(XOM): Exxon Mobil stock gets taken to Outperform from Strong Buy
at Raymond James. Exxon Mobil is a member of the Dow.
(SJM): Peanut-butter powerhouse J.M. Smucker stock is moved to
Underperform from Market Perform with Wells Fargo.
(MS): Deutsche slashes the stock of its fellow financial firm
Morgan Stanley to Hold from Buy.
(OTCMKTS:TSCDY): The British grocer gets downgraded to Hold from
Buy at Panmure.
(TUMI): Goldman Sachs takes the luxury luggage stock off of its
Conviction Buy list.
New Stock Coverage: Oracle Is as Happy as Larry
Stock Upgrades: Tiffany Running Rings Around the