(^DJI) hit its 20th record of 2013, and if many now think this
rally is a little long in the tooth, these days it apparently pays
to be Methuselah.
), just described as "
" by the
Wall Street Journal
, is surging 10.80% before the bell, and an
Old Navy-related upgrade
) to levels last seen at the turn of the Millennium. Back then
its blue dress almost impeached a president
but Bill Clinton managed to survive. He was
once asked "boxers or briefs?" in a cringe-worthy
moment on MTV
. To judge from today's downgrade of Joe Boxer owner
), Slick Willie had best stick to the latter.
This morning in economics, analysts forecast an improvement in
May's Philadelphia Fed Index at 10:00 a.m. Eastern. Quarterly
earnings announcements continue to roll in, with retailers coming
increasingly to the fore. Today's results are expected to include
(ABB): Shares are now Neutral from Buy at Citigroup.
Advanced Micro Devices
(AMD): Goldman Sachs slashes the recently-surging semiconductor
stock to Sell from Neutral. It is sharply lower this morning as a
Ares Commercial Real Estate
(ACRE): Keefe Bruyette cuts the company to Market Perform from
(CHK): JPMorgan moves the equity to Neutral from Overweight.
(CCE): CCE is lowered to Hold from Buy at Stifel due to valuation
(CSC): The tech stock, which nosedived 9.66% yesterday, is today
taken to Hold from Buy at Deutsche Bank.
(CRK): Shares are cut to Hold from Buy at KeyBanc.
(CR): Ascendiant Capital Markets moves CR to Hold from Buy. The
stock is now fairly valued, currently trading at more than 14.0
times the broker's 2013 Earnings Per Share estimate of $4.14.
(ERIC): Danske Bank (Sell from Hold) and UBS (pulled from its Most
Preferred List) both downgrade the Scandinavian telecom titan.
(FDO): FDO is downgraded to Neutral from Buy at Buckingham
(GXP): GXP gets downgraded to Neutral from Overweight at JPMorgan.
(HBC): Shares are trading lower in London today on the back of a
Hold-from-Buy cut at Deutsche Bank.
): Benchmark lowers the company, whose brands include London Fog,
to Hold from Buy with a price objective of $30. Issues include
valuation, following a recent break out to new highs, and
discretionary consumer spending concerns impacting it core
(OTCMKTS:IFNNY): UBS removes the tech name from its Most Preferred
List of favored equities.
Jack in the Box
(JACK): RBC Capital cuts the fast food firm to Outperform from Top
(LNC): The life insurance outfit is lowered to Underperform from
Neutral at Credit Suisse.
(MBFI): The firm is reduced to Underperform from Market Perform at
(MDT): Credit Suisse moves the medical device maker to Neutral from
): Shares get downgraded to Hold from Buy at Deutsche Bank.
(SSYS): William Blair reduces its recommendation to Underperform
from Market Perform.
(DDD): The stock is also moved to Underperform from Market Perform
Time Warner Telecom
(TWTC): TWTC gets slashed to Equal-Weight from Overweight with
New Stock Coverage: Stillwater Pockets Run Deep
Stock Upgrades: Bet the Mortgage on Beazer Homes