Stocks started September with gains, although these were pared
as the session wore on as a
looming line in the sand
made for anything but a day at the beach. Still, the
(INDEXDJX:.DJI) did start what has historically been a scary month
in the green, with equities inspired by the
and Elon show. This as a
) jumped 31.28% to top the NYSE and Mr. Musk saw his
) hit an all-time high to take its 12-month increase to 492.36%.
Among standout stocks, Mr. Coffee owner
(JAH) gained 10.43%. The company will forever
be associated with an iconic New York Yankee
. Yet the
caffeinated nectar of the gods was equally good to
, with David Einhorn's long-shorted
Green Mountain Coffee Roasters
) gapping down 1.33% on a
Today in economic data, the Federal Reserve's beige book detailing
regional financial conditions in a dozen districts is released at
2:00 p.m. Eastern. On the quarterly earnings front,
(SAI) are all due to report results.
(OTCMKTS:AKZOY): Macquarie moves the paints and coatings company to
Neutral from Outperform.
(AMP): Barclays cuts the company to Equal-Weight from Overweight.
(BEAM): The spirits maker gets downgraded to Hold from Buy at Argus
amid valuation issues.
(CNQR): The technical software stock is taken to Hold from Buy with
Wunderlich, whose price objective is $96. Consensus earnings
estimates which forecast 40% pro forma EPS (earnings per share)
growth are seen as overly optimistic.
Hospitals/Long-Term Care: Kindred Healthcare
(SEM) are each cut to Underperform from Market Perform with Wells
(MSFT): Morgan Stanley moves the stock, yesterday's poorest
(INDEXDJX:.DJI) performer, to Equal-Weight from Overweight. Its
$7.2 billion deal with
) increases expenditure and execution risks, the analyst wrote in a
note. Shares are trading lower this morning as a result.
): The telecom name is now Hold from Buy at Argus after yesterday's
31.28% jump. (Note that shares separately scored two upgrades
(RYAAY): The budget British airline, tumbling about 12% today after
issuing a full-year profit warning, is now Neutral from Buy at UBS.
(VVUS): Lazard slashes the drug stock to Sell from Neutral.
Stock Upgrades: World Wrestling Entertainment Is Boxing
New Stock Coverage: Bill Still to Come Due for J.C.