July 8 has historically been unusually memorable in American
finance, for reasons both heartwarming - in 1889, the the
Wall Street Journal
published its inaugural issue
- and horrible - a Depression-era
low of 41.22 in 1932
. Its 2013 iteration will linger less long in the memory, but most
investors would have been happy enough with the modest gains in
thin volume that yesterday provided. Shares posted their third
straight increase as a
disgraced ex Northeastern governor
with a Wall Street past suddenly resurfaced. (Sorry,
. It's just so hard to tell the rotating rogue's gallery apart.)
Mr. Spitzer, who made his name way back when dot-com stocks were
attracting irrationally exuberant "Buy!" ratings and insane
four-figure price targets, will instantly recognize the altered
landscape - especially after
and a $1,010 target price to rise 3.13%, a level it hasn't seen
since the heady days of 2000. Elsewhere, the
Treasury is being sued
for its role in the
) debacle, but our
former Treasury Secretary laughs all the way to the
There are no top-tier economic reports released today. On the
earnings front, expect quarterly announcements out of
Helen of Troy
Wolverine World Wide
(AWC): JPMorgan moves the commodity name to Neutral from
(CVG): Shares are now Neutral from Sell at Goldman Sachs.
Freescale Semiconductor Ltd
(FSL): Piper Jaffray juices its rating to Overweight from Equal
(^DJI) member - the worst performing blue chip last year yet the
best thus far in 2013 - is boosted to Buy from Hold at Brean
Capital. Shares are currently up about 0.9% as a result.
International Rectifier Corporation
(IRF): Raymond James raises its recommendation to Strong Buy from
LVMH Moet Hennessy Louis Vuitton SA
(LVMUY): France's last name in luxury, fresh from buying an Italian
cashmere clothier for $2.6 billion, is lifted to Buy from Hold at
Prosperity Bancshares, Inc.
(PB): Oppenheimer increases its investment opinion to Perform from
Rosetta Resources Inc.
(ROSE): ROSE is raised to Outperform from Neutral at Macquarie.
(SBNY): Saying that the increase in interest rates should be
favorable for the firm's earnings, Oppenheimer raises its rating to
Perform from Underperform.
Sprint Nextel Corporation
(S): Shares are boosted to Outperform from Market Perform at Cowen.
(TCLRY): Goldman takes the stock to Buy from Hold.
Stock Downgrades: Run From the Robots of Intuitive
New Stock Coverage: Denture Maker Prestige Brands
Holdings, Inc. Puts Its Money Where Its Mouth Is