Paying appropriate homage to the late, lamented Elmore-Leonard,
the market decided to
, even as
such sellers have recently been battered
(^DJI) ended at a seven-week low, with a late swoon turning it red
for a fifth straight session. Among standout stocks to the upside,
) surged 6.88% to a fresh best although, based on the tragically
large numbers of homeless sleeping by
its bridge location in Manhattan
, the overall economy is still anemic.
For those fortunate enough to slumber on fancy memory foams
) rose 3.60% as increasingly arthritic baby boomers answered the "
Sex or Sleep?
" question by opting firmly for the latter. (Quite where
yesterday's lucrative performance from the mattress maker leaves
is unclear.) A
chronic lack of sleep is being blamed for the
tragic death of an intern
Bank of America
Sheryl Sandberg may soon be able to pay her
to advance another 1.59%.
Today in economics, analysts expect an improvement in July existing
home sales at 10:00 a.m. Eastern. At 2:00 p.m. the Federal Open
Market Committee releases minutes to its July 30-31 policy meeting.
On the earnings front,
American Eagle Outfitters
Madison Square Garden
(TOL) are all due to release results.
(GRMN): Citing the satellite navigation company's roll out of new
action camera products, Goldman Sachs upgrades shares to Neutral
(GSK): Cowen upgrades the English pharmaceutical giant to
Outperform from Market Perform.
(HLF): More good news for the firm,
accused of being a pyramid scheme by Bill
. Who knows, the hedge fund titan might eventually be proved right,
in which case many of us will have to eat copious amounts of humble
pie. Today though the stock, having already almost doubled in 2013,
is increased to Buy from Hold with an $80 price objective at Argus,
which expects an additional buyback later this year. Shares are,
accordingly up another 2%-plus this morning.
(LNEGY): Citigroup gives the German engineering giant a
(NDAQ): The exchange operator is raised to Strong Buy from
Outperform at Raymond James.
National Retail Properties
(NNN): Shares are now Outperform from Market Perform with a $37
price objective at FBR Capital, which calls the company a good way
to play improving credit quality.
(QCOR): Bank of America-Merrill Lynch moves the biotech to Buy from
(RCL): The cruise company is raised to Overweight from Equal-Weight
at Morgan Stanley, which notes both a European rebound and
improving US travel trends.
(SLFPY): The Edinburgh-based investment outfit is bucking a broadly
lower London tape today, up about 2% after being boosted to Neutral
from Underperform at Credit Suisse. "Costs are being well contained
and offer support for net margins," analysts wrote in a note.
(TSL): TSL gets taken to Outperform from Market Perform at Cowen.
(VE): Morgan Stanley moves the waste management stock to Overweight
from Equal-Weight. Shares are, accordingly, surging some 5% this
(XUE): Shares get upgraded to Neutral from Sell at Goldman Sachs.
Zurich Insurance Group
(ZURVY): The stock is now Equal-Weight from Underweight at
Stock Downgrades: Chesapeake Energy Corporation Told to
New Stock Coverage: Trulia Inc Is on Easy Street