Twenty-four hours after the
(^DJI) rose for the 20th straight Tuesday, a run bettered only by
its streak of 24 winning Wednesdays from 1968, a song from that
year proved eerily prophetic. As Blood, Sweat & Tears warbled
that October, "
What goes up, must come down
." And so it was that blue chips, up 106 points on May 28, dropped
106 points on May 29.
front page headline
from a publication derided as "McPaper" since its founding in 1982
- the year history's biggest ever bull market began - was seen as
ominous by contrarians. It was certainly the kiss of death for
), as the fast food firm not known for benevolence toward bulls
promptly tumbled 2.16%.
Turning to other animals on Old MacDonald's farm, pork producer
) jumped a NYSE-best 28.42% after being bought by China, whose
rivers recently flowed with 16,000 pig
country kindly lent its executed political
prisoners to the
put on by
), but it just nose-dived 9.48% to a new low. No, far better to
stick with cemetery stock
), which put the
fun in funeral
by surging 33.16% to top the
(^IXIC) after being bought for $1.1 billion. With
(BWS) simultaneously gaining 11.76% to a fresh best, it wasn't a
bad day to be carried out feet first.
Today in economics, April pending home sales are out at 10:00 a.m.
Eastern. In corporate earnings action,
China Ming Yang Wind Power
Lions Gate Entertainment
Royal Bank of Canada
(SAFM) are all due to report results.
Apollo Global Management
(APO): BMO Capital boosts the company to Outperform from Market
(CP): The railroad is raised to Hold from Sell at Canaccord.
(CHL): Shares are moved to Outperform from Neutral at Macquarie.
(CLWR): Raymond James juices CLWR to Market Perform from
Cracker Barrel Old Country Store
(CBRL): Bank of America-Merrill Lynch lifts the stock to Neutral
(DO): The equity is increased to Overweight from Neutral at
): BMO Capital (Outperform from Market Perform) and Jefferies (Buy
from Hold) both boost the social networking name, whose value is
seen as increasingly compelling after a recent share price sell
off. The stock is currently 3.09% as a result in today's pre-market
(FIO): The maker of data storage devices is now Outperform from
Neutral at Credit Suisse.
(LMT): Goldman Sachs adds the defense and aerospace firm to its
Conviction Buy List, saying that industry fundamentals are poised
to improve after a slew of difficult years.
(WFR): The tech name is also placed on Goldman's list of Conviction
(RSG): Wedbush takes the equity to Outperform from Neutral.
(RKUS): Shares are now Buy from Hold with a $16 price objective at
Needham, which notes its potential rewards in the Wi-Fi market.
: Goldman is more bullish on both
(FSLR) (Buy from Neutral) and
(SPWR) (Neutral from Sell.)
(VOLC): Shares are moved to Outperform from Perform at JMP
New Stock Coverage: Check Out Marriott's Five-Star
Stock Downgrades: AutoNation Hits a Speed Bump