President Obama immodestly opined in 2008 that his election
would one day be seen as "the moment when the rise of the oceans
began to slow" but he is now benefiting from an inexorably rising
tide on Wall Street lifting all boats. Shares snapped a two-week
losing streak after US employers added 175,000 jobs in May, or the
number that once flocked to see the
when he was out on the campaign hustings.
Next month's jobless rate will be swelled by the
best coach in basketball
and, less surprisingly, a
), which still surged some 8.5%. In the week the Tonys came to
) of 42nd Street fittingly led the
(^DJI) with a 3.8% jump. Elsewhere the
famously frugal billionaire founder of IKEA
finally called it quits. This as
Aberdeen Asset Management
(OTCMKTS:ABDNF) - named after a Scottish city whose citizens are so
cheap they are said to have invented copper wire by fighting over a
penny - imploded 11%.
No top-tier economic data due today, the start of what is quite a
quiet week for such releases. On the earnings front,
Pep Boys - Manny, Moe & Jack
(PBY) are all expected to reveal results.
Real Estate Equities
(ARE): Shares get upgraded to Buy from Neutral at ISI Group.
): More good news for the telecom sector, last week's
top-performer. Today this key
(^DJI) component is boosted to Buy from Hold with a $42 price
objective at Argus, which says the company is starting to close the
(VZ) in building out its 4G LTE network.
: Citigroup raises
(OTCMKTS:POAHY) to Neutral from Sell and lifts its fellow German
(OTCMKTS:VLKAY) to Buy from Neutral.
Bank of the Ozarks
(OZRK): The stock is taken to Outperform from Perform at Raymond
(BBT): Evercore lifts the equity to Overweight from Equal Weight.
(CONE): Raymond James juices its recommendation to Strong Buy from
(EQ): EW is increased to Outperform from Neutral at Credit Suisse.
(ETR): The electric utility gets a Buy-from-Hold hoist at Deutsche
(FB): The social networking name is now Buy from Hold with a $29
target price at Stifel, which highlights both back-to-school
seasonality and Instagram monetization as potential catalysts.
Shares are, accordingly, up before this morning's opening bell.
(FBP): Sterne Agee raises the regional bank to Buy from Neutral.
(FMS): FMS is moved to Overweight from Equal Weight by Barclays.
(IMAX): Shares are showing strength after being raised to Buy from
Neutral at B. Riley & Co, which also increases its price
objective by $13 to $37 amid cost control and a laser projector
(MON): The stock is trading higher this morning on a raise to
Outperform from Neutral at Macquarie. Last week the seed company
announced a $2 billion stock buyback program.
RF Micro Devices
(RFMD): Shares are upgraded to Strong Buy at Charter Equity, which
(AAPL) iPhone 5S will likely improve the company's results in the
second half of 2013.
(SPF): JPMorgan raises the residential construction company to
Neutral from Underweight.
(SSRI): The commodity company gets upgraded to Hold from Sell at
(SRCL): Shares are increased to Buy from Hold with Wunderlich,
which also increases its price objective to $120 from $85.
(WBC): The auto parts outfit gets upgraded to Buy from Neutral at
(WU): Raymond James moves the money transfer titan to Outperform
from Market Perform.
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