Stock Upgrades: Amazon's Jeff Bezos Laughs All the Way to the Bank
President Obama toured Petra's fabled Treasury
at the end of March,
(INDEXSP:.INX) shares went on to finally surpass their pre-Lehman
peak within a week. News that our own Treasury won't now run out of
money sent the index surging to a fresh high yesterday. Blue chips
ominously ended in the red, however, and if
(INDEXDJX:.DJI) needs any reminders that this Year of the Snake may
yet have another unforeseen twist in the tale, he need only ask
Indiana Jones. The
, who sensibly opted to
have Mr. (Treasury) Bond accompany him to the stone
, could happily expound on the ruinous fate that awaits once-great
powers who opt not to confront serious problems. For now, Uncle Sam
choosing to postpone pain until early next year was sufficient to
unleash another round of irrational exuberance on Wall Street. Our
politicians continue to be the kiss of death when they try to help,
mind you. Elected officials "
mending fences over coffee
" promptly sent
Green Mountain Coffee
) slumping 7.13% and their
reopening the National Zoo
sent panda bears running amok in
), a 12.51% tumbler. Elsewhere, as Oliver Hardy immortally opined
of his sidekick Mr. Laurel, "Well, here's
another fine mess
you've gotten me into, Stanley!" This as
Stanley Black & Decker
). The tool titan swiftly followed Wednesday's 14.26% fall by
shedding an additional 3.10%. Ouch. That cuts like a Stanley knife.
Mack the Knife
. As for the white shoe investment bank itself, out with impressive
earnings this morning, it still apparently prefers silver spoons.
A frenetic week for third quarter earnings announcements finishes with General Electric ( GE ), Honeywell (HON), Morgan Stanley ( MS ), and Schlumberger (SLB) all releasing results.
Align Technology (ALGN): Cantor takes the teeth-straightening firm to Buy from Hold.
Amazon.com (AMZN): Jeff Bezos may have a seriously sinister laugh but the Amazon CEO is likely saying 'cry me a river' today. This as his stock is boosted to Buy from Neutral at UBS amid a "bullish secular backdrop" for the online retail giant.
Cypress Semiconductor (CY): Shares are upgraded to Outperform from Sector Perform at Pacific Crest.
Essex Property (ESS): ESS is increased to Buy from Neutral at UBS.
Peabody Energy (BTU): The coal company gets upgraded to Outperform from Perform by BMO Capital.
PrivateBancorp (PVTB): Keefe Bruyette boosts the stock, which surged 8.78% yesterday, to Outperform from Market Perform.
T-Mobile US (TMUS): The telecom stock is added to the Conviction Buy List at Goldman.
Twenty-First Century Fox (FOXA): Shares are now Buy from Neutral at BTIG Research.
Union Pacific (UNP): Goldman Sachs gives the railroad stock a Buy-from-Neutral upgrade.
Verizon (VZ): The key Dow (INDEXDJX:.DJI) component, up 3.49% on Thursday after releasing results, is showing further strength before the bell today on a hoist to Buy from Hold at Deutsche Bank.
VMware (VMW): Shares are moved to Overweight from Neutral at JPMorgan.
(See also: Stock Downgrades: Will Obamacare Put UnitedHealth in Intensive Care? and New Stock Coverage: Iffy End to the Week for Finish Line )