Stocks posted an
Mr. Tourre will forgive me
for quoting the name of a 1990s TV show to describe the action in
equities. Indeed that irrationally exuberant era made a comeback
yesterday, with the
(^DJI) ending at another record.
The Gap Inc.
), whose khakis clad the decade, surged on a
. Back then anything with a "dot-com" or "Web" in its name was a
license to make money, and judging by the 9.46% and 5.50% surges in
), not much has changed. Elsewhere, a resurgent
) found a "friend" with its 1.87% advance and the BUD's of
) were even more pleased to make the market's acquaintance, taking
its two-day advance to 9%. Clearly, even in a week that Brussels'
continue to be beloved worldwide and
shunned in the States
, the two countries can continue to cooperate on some things.
Today's economic data includes factory orders for June, which are
expected to tick up at 10:00 a.m. Eastern. The final full week of
Q2 earnings releases ends with
Royal Bank of Scotland
(VIAB) all slated to report results.
(AFLYY): The aviation name gets a Buy-from-Neutral boost at
(AZN): Swedbank raises the pharmaceutical firm to Reduce from Sell.
Automatic Data Processing
(ADP): Shares are now Neutral from Positive at Susquehanna.
(ABX): BMO Capital gives the commodity company an upgrade to Market
Perform from Underperform.
(CUB): Benchmark boosts the company to Buy from Hold, in the
process taking its price target up by $14 to $60. An improvement in
its backlog with the Department of Defense is among the catalysts.
(FOE): Deutsche Bank hoists the equity to Buy from Hold.
(FLT): The stock is upgraded to Overweight from Equal Weight by
(GLNCY): Shares get upgraded to Neutral from Reduce at Nomura.
(GRPN): Evercore upgrades the daily deals website to Equal Weight
(HMC): The Japanese auto giant gets upgraded to Outperform from
Neutral at Credit Suisse.
(ITT): Citing improving investor sentiment for industrials overall,
allied to a better backdrop in Europe, FBR Capital increases its
investment opinion to Perform from Underperform. Its price
objective is $32.
(LNKD): Echoes of the 1999 Internet bubble? Shares, already up
122.71% in the past year, are surging further into record territory
this morning. The stock gets upgraded to Buy from Hold at Cantor
Fitzgerald, which also takes its target up to $250 from $170. Its
analyst wrote in a note that LNKD's "long-term outlook keeps
getting better with every passing quarter."
(LYG): Barclays boosts its fellow British bank to Overweight from
Equal Weight. Share have been surging of late amid an earnings
improvement and hope that the company may soon reinstate dividends
for the first time since the 2008 financial crisis.
(MHK): MHK is moved to Outperform from Market Perform at Raymond
(MYL): Morgan Stanley increases the equity to Overweight from
(JACB): Piper Jaffray juices the stock to Overweight from Neutral.
(SCGLY): Deutsche Bank hoists its fellow financial firm to Buy from
Time Warner Cable
(TWC): TWC gets taken to Outperform from Market Perform at Raymond
Stock Downgrades: United Stationers Inc. Not Worth the
Paper It's Written On?
New Stock Coverage: Electronic Arts Inc. Is Pretty as a