One of the
most iconic photos of JFK
was of him and Jackie at a ticker tape parade in lower Manhattan,
quite literally looking up at Wall Street. Five decades since that
dreadful day in Dallas, from his celestial perch the 35th President
can look down on an address that stands taller than ever. The
(INDEXDJX:.DJI) finished above 16,000 for the first time and
S&P 500 Index
(INDEXSP:.INX) shares snapped a three-session losing streak in
similarly impressive style, as US stock markets continued their
inexorable ascent. (The news wasn't quite so bright across the
ocean, where a new report emphasized the "risk of a return to
recession for France," according to Jack Kennedy.
Jack Kennedy the economist
, not Jack Kennedy the man who memorably told de Gaulle he would
forever be known as "the man who accompanied Jacqueline Kennedy to
Paris.") Among stocks on the move,
), already up 400% in a year, rose another 3.53% on a
. It was
founded in 1962
, the beehive heyday of
, and America's last year of innocence.
), based in the Dallas suburb of Grapevine, slumped 6.94% to post
the S&P 500′s poorest performance. What tragic news came
through the Texas grapevine five decades ago today
on Elm Street
, when JFK passed away and Lyndon Johnson took control. Eerily,
) gained 4.42% yesterday to hit the highest level in its history.
There isn't any top-tier economic data due to move US markets today
but, regarding specific stocks,
Destination XL Group
Sirona Dental Systems
(HIBB) all release quarterly results.
(ARUN): Shares, surging before the bell, are boosted to Buy from
Hold at Needham.
(BONT): The stock, on a stellar recent run, is now Neutral from
Underperform at Credit Suisse.
(DLTR): Dollar Tree stock slumped 4.48% yesterday but there is
better news for the discount retail firm this morning. Barclays
raises Dollar Tree to Overweight from Equal Weight.
(BEN): Shares get upgraded to Overweight from Equal Weight at
Evercore. Its price objective, previously $51, increases to $64.
): GameStop, whose stock tumbled even in yesterday's record-setting
market, is moved to Buy from Hold at Needham. Its fresh price
objective is $60. Needham notes that eagerly-awaited new consoles
have arrived, in the form of both
(SNE) PlayStation 4 and
(MSFT) Xbox One.
(UAL): Citing its expectations for "outsized" upcoming earnings
growth, Goldman Sachs gives the aviation outfit a Buy-from-Neutral
boost, sending its stock up ahead of the open this morning.
Yesterday, noted investor David Tepper called airlines his "big
play in the market."
(UBNK): Shares are now Buy from Neutral at Sterne Agee.
(PAY): Jefferies juices its research recommendation to Buy from
(OTCMKTS:WIMHY): The British bookmaker is up impressively in
today's London trading on the back of an Overweight-from-Equal
Weight boost by Barclays. A share-price pullback of late has
provided would-be investors in the betting behemoth with an
"excellent opportunity," the bank believes.
(YUM): Yum Brands gets hoisted to Buy from Hold at Deutsche Bank,
sending the stock (already at record highs) up again this morning.
The bank notes both impressive earnings gains and ample free cash
flow. Yum Brands owns KFC, Pizza Hut, and Taco Bell.
Stock Downgrades: Unhappy Anniversary for JFK
Adversary US Steel
New Stock Coverage: Kennedy-Era Mad Men Live On at AMC