New Stock Coverage: Save the Last Dance for SFX Entertainment
Double, Double, Toil and Trouble? Not so much. US stocks rose
on Halloween week, even as
a man named Delwiche warned of a weak economy
waxed lyrical on
). Thus, markets advanced for the fourth straight week, with US
stocks hitting fresh historic peaks. (Not all stocks share in the
ebullience - financials fell to lead industry laggards, with
) unfortunately unable to use a witch's broom to
sweep its ever-increasing skeletons under the
.) With the
S&P 500 Index
(INDEXSP:.INX) up where the air is clear,
) surged 2.3% and
) levitated 8.23%; "I ain't afraid of no ghost", to quote an
famous poltergeist film from 1984
. That was the year an iconic computer company arrived on the
scene, but Dell didn't need Adele to tell it the fat lady finally
sang. It is indeed over for the Texas tech titan, at least
as a tradable entity
In terms of events that may move markets today, at 10:00 a.m. Eastern August and September factory orders are each released. On the earnings front, several specific stocks could be impacted by quarterly earnings announcements. These include Anadarko Petroleum ( APC ), CF Industries (CF), Goodrich Petroleum (GDP), Hertz (HTZ), HSBC Holdings (HBC), Kellogg (K), Marathon Oil (MRO), Office Depot (ODP), OfficeMax (OMX), Pioneer Natural Resources (PXD), Plains All American Pipeline (PAA), and Tenet Healthcare (THC).
Antero Resources (AR): Shares are begun with an Overweight at Barclays, whose target price is $63.
Cell Therapeutics (CTIC): Cell Therapeutics shares slumped 7.39% on Friday but there is better news for the microcap biotech this morning. It is begun with a bullish Buy at boutique broker H.C. Wainwright. Stock in Cell Therapeutics is still in the green to the tune of 7.95% over the past year, however.
Gigamon (GIMO): Pacific Crest picks the networking name up at Outperform.
LDR Holding (NASDAQ:LDHR): Shares get assigned an Overweight with Piper Jaffray.
MacroGenics (MGNX): Bank of America-Merrill Lynch launches Neutral-rated research.
QTS Realty Trust (QTS): The stock is begun with a Buy at Jefferies.
SFX Entertainment (SFXE): Shares are begun with bullish Buys at both Jefferies and UBS, whose respective price objectives are $16 and $15. SFX Entertainment, a recent initial public offering, produces dance music events worldwide. SFX Entertainment's exclusive offerings include Tomorrowland and Life in Color. (It is a manic Monday for the firm, for minutes ago, SFX Entertainment acquired Made Event, which created the Electric Zoo festival.)
Twitter (NYSE: TWTR ): Twitter hasn't even gone public yet, but on Wall Street, it is never too early to be bullish. Today Twitter is established with an upbeat Overweight at Atlantic Equities.
Western Refining Logistics (WNRL): The limited partnership is launched with an Outperform recommendation and $28 target at Credit Suisse.
(See also: Stock Upgrades: Party On, Red Sox Nation. Boston Beer Gets a Boost and Stock Downgrades: Aflac's Duck Dynasty Is Over )