Beware Greeks bearing gifts? To be fair to Athens' main man, his
White House visit on Thursday
dovetailed with the
(^DJI) only increase all week. (Even as Mr. Samaras made his
"presents" felt with
record unemployment announced hours earlier
.) No, to explain stocks' worst showing since late June, we must
look much closer to home. Specifically the homebuilders, with the
) dropping 7.3% as it became clear
even multimillionaire ex-Presidents can't afford
the security deposit
some are charging in this renewed real estate bubble. Among
equities to buck a bad tape was
), owned by Pretoria's prodigal son Elon Musk. It advanced 11% to a
fresh best. One wonders what these endlessly inventive South
African entrepreneurs will think of next.
? In the thinnest overall
(^GSPC) volume since August 2006,
) tumbled 20.11% and
Bank of America
), wary of that "f
at kid in dodgeball,"
imploded 2.6%. Elsewhere
(YHOO) offered its newly acquired wonder kid $110 million provided
promises to stick around for four years
Today in economics, the Treasury releases its July budget at 2:00
p.m. Eastern. On the quarterly earnings front,
(WX) are all expected to announce results.
(ACGL): Keefe Bruyette cuts the company to Underperform from Market
(ATW): Tudor Pickering takes the energy outfit to Accumulate from
(BRCM): Shares are lower ahead of this morning's opening bell
getting downgraded to Neutral from Buy at Goldman Sachs. Eroding
market share for its chips is a worry.
Helmerich & Payne
(HP): Argus cuts the company to Hold from Buy due to valuation
after a strong recent run.
(VOYA): The relatively recent initial public offering is now
Underweight from Neutral at JPMorgan.
(JNPR): The tech stock is taken to Sector Perform from Outperform
at RBC Capital Markets.
): Not worth a bet? Shares of the British bookmaker are slumping in
today's London trading on an Underweight-from-Neutral downgrade at
JPMorgan. Heightened Internet competition is among the bank's
LAD is lowered to Neutral from Buy at Bank of America-Merrill
(ZEUS): Macquarie moves the commodity company to Neutral from
(ZQK): Brokerage boutique B. Riley & Co. reduces the retailer
to Neutral from Buy.
Royal Dutch Shell plc (ADR)
(RDS.A): The overseas oil giant gets reduced to Perform from
Outperform at Oppenheimer. Issues include ongoing losses in the
Americas, setbacks in Nigeria, and increased spending.
(KKPNY): Shares are now Reduce from Neutral at Natixis
): Lazard lowers the electric car company to Neutral from Buy after
last week's 11% advance. Shares are lower ahead of the open as a
(VSI): Credit Suisse takes the stock to Neutral from Outperform.
New Stock Coverage: Tiffany & Co. Is a Rhinestone
Stock Upgrades: There's Dollars In Krispy Kreme