Stocks for once failed to break records, thanks to a broken
record. John Williams of the San Francisco Fed sent stocks slumping
on April 3
by suggesting quantitative easing will end. That essentially the
same speech could exert an identical impact
on May 16
speaks volumes about an Attention Deficit Syndrome which inflicts
modern equity markets. As
ended its season and
its series, an unexpected increased in idle office workers as
evidenced in weekly unemployment claims spooked investors.
art auction pulled in almost half a billion
and life imitated art in advertising, where
Don Draper's ebullient industry
was mirrored in
) hitting an all-time high and
) scoring a
) jumped 2.57% to a fresh 52-week peak as soccer star blessed with
unbeatable banana kicks
end it like Beckham
Today in economics, the University of Michigan's preliminary May
consumer sentiment survey and April leading indicators are each
expected to improve at 9:55 a.m. Eastern and 10:00 a.m.,
respectively. In earnings action, look for results from
(ADSK): Shares are slashed to Sector Perform from Outperform at
(AMAT): DA Davidson downgrades the stock to Neutral from Buy,
trimming its target price by $2 to $15 from $17 due to a plump
valuation that sees it trade at 15 times the broker's calendar year
2014 Earnings Per Share estimates.
(ARUN): Citing both competition from
(CSCO) and a substantial earnings shortfall, Needham takes the tech
name to Hold from Buy.
(BRCS): Shares are now Underperform from Market Perform at William
British American Tobacco
(BTI): Shares, recently atop historic highs, are lower in today's
London trading after being moved to Underweight at Credit Suisse.
(COSI): The flat-bread sandwich chain is cut to Market Perform from
Outperform at Northland Capital, which notes heightened uncertainty
following its first quarter results.
(DE): Goldman Sachs slashes the troubled tractor titan to Sell from
Neutral due to an expected 15% decline in domestic spending on
(HBC): The banking giant gets downgraded to Neutral from Outperform
by BNP Paribas.
(OTCMKTS:JMPLY): Goldman pulls the British specialty chemicals
company from its list of Conviction Buys.
(LTD): The owner of Victoria's Secret, Bath & Body Works, and
Henri Bendel, which was known until March as Limited Brands, gets
lowered to Underperform from Hold at Jefferies. Issues include
profit margin pressure and stalling growth in sales.
Manning & Napier Advisors
(MN): Bank of America-Merrill Lynch moves the money manager to
Underperform from Neutral.
(MWV): RBC Capital reduces its rating to Underperform from Sector
(SVNT): The stock is slashed to Market Perform from Outperform by
(TRW): Deutsche Bank takes TRW to Hold from Buy.
(UHS): Shares are now Neutral from Positive at Susquehanna.
(DIS): The recently-surging
(^DJI) company is cut to Neutral from Overweight at Atlantic
): Bank of America-Merrill Lynch lowers the owner of Pottery Barn
to Neutral from Buy. A strong recent run in the stock, now up
52.24% in the past year, has left it due a breather.
(ZMH): The medical device maker gets moved to Reduce from Neutral
at Suntrust Robinson Humphrey.
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