It's just as well Philadelphia Fed President Charles Plosser
cancelled his scheduled speech yesterday, for the pronouncements of
his fellow members have sent the market scurrying for cover this
week. Shares slumped for a third straight day; much more of this
and investors will have to reassess the Obama bounce in equities
since 2009. Indeed it was a day to forget for the president. A
, he saw
that troubled stock
slump a further 3.76%.
), fresh from being
criticized by our Commander in Chief
, gained 1.43% after announcing it made
$5 million for 12 weeks of government work
) slid 7.69% on the
very day it rolled out the red carpet for
. (In the interests of being "fair and balanced," so to speak, it
would be remiss of me not to point out that
Mitt's diss of
) looks more ill-advised than ever this morning.)
Today's corporate earnings announcements are expected to include
Lions Gate Entertainment
Noodles & Co
(ALR): Boutique brokerage Craig Hallum slashes the medical outfit,
which fell 4.32% yesterday, to Sell from Hold.
(CVC): Shares are moved to Neutral from Buy at Macquarie.
(CG): The limited partnership is lowered to Neutral from Buy at
(CROX): Sterne Agee cuts the maker of colorful plastic clogs to
Underperform from Neutral.
(FIO): Mizuho moves the stock to Neutral from Buy, simultaneously
slashing its price objective by $9 to $13. Increased competition
and margin deterioration are dual concerns. Shares are in free-fall
Gold Stocks: AngloGold
(SBGL) are all downgraded to Underweight from Neutral at HSBC
(IRM): The stock is cut to Equal Weight from Overweight at
(LWN): Raymond James lowers LWN to Underperform from Market
(MMYT): The travel stock is taken to Sector Perform from Outperform
at Pacific Crest.
(NSPH): Roth Capital reduces the stock, which slid a
(^IXIC)-worst 29.11% yesterday, to Neutral from Buy.
(OAS): Shares are lowered to Hold from Buy at Canaccord Genuity.
Polo Ralph Lauren
(RL): The clothing company, which endured an earnings-related 8.64%
implosion on Wednesday, gets moved to Buy from Strong Buy at ISI
Group this morning.
Royal Dutch Shell
(RDS.A): Morgan Stanley reduces moves the oil stock to Equal-Weight
Stanley Black & Decker
(SWK): Shares get cut to Hold from Buy at KeyBanc Capital.
(TGT): The retailer is now rated Neutral from Overweight with a $74
price objective at JPMorgan, whose concerns include reduced
Tesla Motors Inc
): The cult electric car company, already up 343.74% in the past
year and surging a further 16.89% before the bell, nonetheless gets
downgraded to Equal Weight from Overweight by Barclays.
Stock Upgrades: Barbarians Back Off Bill Gates at
New Stock Coverage: Nike Inc Jumps to It
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Media, has a business relationship with BlackBerry.