As Andy Petite -- who won his first World Series ring the last
(latest?) time that there was a government shutdown in 1996 --
, Mr. Market's problems are suddenly anything but petite. The
S&P 500 Index
(INDEXSP:.INX) has now slumped in six of its past seven sessions, a
streak that looks set to continue this morning. With
the news again on account of Iran
, a quote from Margaret Thatcher on November 12 of that year rang
uncomfortably true for one plunging retailer She sagely said, "
Pennies don't fall from heaven; they have to be
earned here on earth,
" and the grande dame of capitalism clearly hadn't lost her Midas
touch even in
the week her ashes were interred
), which imploded 30.2%, had a week from hell and just incurred
another rating reduction. The
Betty Ford clinic is merging
) car company appears similarly
addicted to the malarkey that Mulally, a man in his
, might be joining strong
). And speaking of '69, the iconic
(OTCMKTS:VLKAY) bus that drove untold thousands of hippies to a
farm in upstate New York in August of that year, finally
reached the end of the line
. This as
) Sheryl Sandberg, who arrived on the scene 10 days after Woodstock
- when some stragglers were still finding their way home like a
rolling stone - surged 7.90%.
Today in economics, analysts expect an uptick in September's
Purchasing Managers' Index at 9:45 a.m Eastern. On the corporate
(PKE) are all due to release quarterly results.
(ACHN): The biotech, falling 54% this morning, is taken to Neutral
from Outperform by Robert W. Baird. The target price also gets
slashed, by $8 to $4.
(ARIA): BMO Capital cuts the company to Market Perform from
Outperform. Its price objective, previously $37, is now $21.
(CHRW): The logistics company is lowered to Underperform from
Sector Perform at RBC Capital.
(IP): Bank of America-Merrill Lynch lowers its rating to Neutral
from Buy, sending shares down this morning.
): No relief for the troubled retailer, now Hold from Buy at Maxim.
(JCI): Morgan Stanley gives the stock an unusual 180 degree
downgrade (Underweight from Overweight), and takes its target to
$40 from $45.
Panera Bread Co
(PNRA): The fast food firm formerly known as Au Bon Pain is taken
to Equal-Weight from Overweight at Morgan Stanley, whose concerns
include slowing same-store sales.
(RP): Credit Suisse cuts the application software company to
Underperform from Neutral.
Royal Bank of Scotland
(RBS): Shares are reduced to Add from Buy at Numis.
(SYT): The agricultural chemicals company is now Neutral from Buy
(WWAV): The firm, whose brands include International Delight and
Land O'Lakes, gets moved to Underperform from Market Perform by BMO
Stock Upgrades: Buy Smucker Ahead of Washington
New Stock Coverage: Go the Extra Miley With