The Mother of all Market Rallies resumed just in time for
Father's Day and, with apologies to Papa Hemingway, by the end of
trading no one much cared
For Whom The Bell Tolls
. All that mattered was that the closing gong concluded the second
best day of the year for stocks, as equities snapped out of their
recent slump in some style.
History's oldest man Jiroemon Kimura, who passed away earlier this
week at the age of 116, once told reporters that he spent two hours
per day reading newspapers. What a pity, then, that he didn't live
to see the
New York Times
) surge 6.02% as an ink-stained sector long left for dead surged on
), maker of Singles, jumped 4.75% and a big cheese media mogul,
the 14-year itch
, finds himself suddenly single again.
United States Steel
) rose 5.52% just in time for today's box office opening of
Man of Steel
Superman comic once saved a family from
and, based on a 2% increase in the national foreclosure rate for
May, he may soon be called into action once more.
Today in economics, June's Thomson Reuters/University of Michigan
consumer sentiment index will be released at9:55 a.m. EDT . (Or
9:54:58, if you are among the
few to get it two seconds early
.) On the corporate front,
(SFD) report results.
CME Group Inc.
(CME): Shares get increased to Buy from Neutral at ISI Group.
Computer Sciences Corporation
(CSC): The stock is upgraded to Buy from Hold by BNP Paribas.
Consolidated Edison, Inc.
(ED): Citigroup boosts the Big Apple-based electric utility
substantially, to Buy from Underweight.
(ENOC): Shares are now Overweight from Neutral at JPMorgan.
(GME): Saying that investors are underestimating the company's
earnings and cash flow potential, Oppenheimer increases its
investment opinion to Outperform from Perform. Its price objective,
previously $27, is taken to $50.
(GOOG): The Internet search giant gets added to Evercore's
Conviction Buy list.
(GRPN): The daily deals website is surging approximately 8% as I
write after getting a Buy-from-Hold hoist at Deutsche Bank. The
German bank believes that, in an ideal scenario, the stock can
Hormel Foods Corporation
(HRL): KeyBanc Capital Markets moves the maker of Spam to Buy from
Myriad Genetics, Inc.
(MYGN): The stock is increased to Outperform from Perform at JMP
Renault SA Regie Nat
(RNSDF): Shares in the French car company, which owns CitroÃ«n, are
up more than 2% in today's European trading after being added to
the Focus List at Citigroup.
Royal Dutch Shell plc
(RDS-B): The oil outfit gets upgraded to Outperform from Sector
Perform at RBC Capital.
(SBNY): BMO Capital Markets moves SBNY to Outperform from Market
(SCTY): Credit Suisse raises the alternative energy name to
Outperform from Neutral.
New Stock Coverage: Anheuser-Busch InBev NV Gets the
Stock Downgrades: E I Du Pont De Nemours and Co Loses
That Teflon Touch