On the day Pope John Paul II took a
step toward sainthood
, how the market could have used his
Midas touch in equities
. Instead, Satan took center stage as the
(^GSPC) breached its 6/6 low of 1598.23 and the "devil's metal"
silver nosedived 9% as commodities cratered along with stocks.
The National Association of Realtors actually complained that "
home price growth is too fast
," which is a heck of a problem to have. (Homebuilder
) has more serious issues, falling 5.47% as the sector endured a
Elsewhere, the Philadelphia Fed Index hit its highest level since
April of 2011. This as
) - for whom
happiness is a warm gun
, despite also being based in the City of Brotherly Love - lost
1.85% even as it was begun with a
bullish buy rating
No top-tier economic data due today, although quadruple witching
sessions rarely lack drama. In corporate earnings action,
) are all due to release results.
(AGN): The Botox maker gets moved to Neutral from Buy at Goldman
C.H. Robinson Worldwide, Inc.
(CHRW): Shares get slashed to Sell from Neutral at Goldman Sachs.
(DEO): The alcohol giant is downgraded to Hold from Buy at Banco
Fulton Financial Corp
(FULT): Credit Suisse cuts the company to Underperform from
Idenix Pharmaceuticals Inc
(IDIX): The stock is now Underperform from Neutral at Robert W.
Baird, which says that the Food and Drug Administration's decision
to delay one of its offerings is an ominous development. Shares are
slumping 35% at the moment.
ITT Educational Services, Inc.
(ESI): Shares get downgraded to Sell from Hold at Argus.
Newmont Mining Corp
(NEM): UBS reduces the recently-slumping commodity company to
Neutral from Buy.
Questcor Pharmaceuticals Inc
(QCOR): Bank of America-Merrill Lynch lowers its investment opinion
to Neutral from Buy.
(SPW): shares are slashed to Sell from Neutral at Citigroup.
(ZNGA): Morgan Stanley moves the social gaming stock to Underweight
New Stock Coverage: Darling International Inc. Feels the
Stock Upgrades: Facebook Inc Enjoys Its 15 Seconds of