The long and the short of it? On his birthday , left-leaning economist John Kenneth Galbraith - who stood 6 feet, 8 inches - temporarily triumphed over laissez-faire champion Milton Friedman, who topped out at 5'0.″ (Never mind that the latter will always be the true giant to many of us.) On a bad day for capitalism, Dow Industrials (INDEXDJX:.DJI) dropped by triple digits amid more political mayhem. It was an especially tall Sir Lancelot - or long knight - for Burberry (OTCMKTS:BURBY), which imploded 8.39% after Apple ( AAPL ) picked off its top executive.
With nothing else working in our nation's capital, Mr. Smith Goes to Washington did prove profitable, as FedEx's ( FDX ) CEO saw his stock surge 4.08%. Also bucking a bad tape was an upgradedMicrosoft ( MSFT ). Its PowerPoint is suddenly all the rage among Iran's mullahs . But I've bad news for the Barbie-banners ; Mattel ( MAT ) is surging some 5.42% after it beat the Street this morning.
Today in economics, the Fed will release its Beige Book, detailing economic conditions in a dozen districts, at 2:00 p.m. Eastern. Hump Day of the first full week for third quarter earnings announcements is upon us, with American Express ( AXP ), Bank of America (BAC), eBay Inc (EBAY), International Business Machines (IBM), and PepsiCo (PEP) among a multitude of big names due to report results.
Alaska Air (ALK): Shares, soft of late, get upgraded to Outperform from In-line Imperial Capital, which also increases its price objective by $7 to $70 from $63. The broker believes competitive concerns regarding Delta (DAL) may be overstated.
Apple Inc. ( AAPL ): Deutsche Bank adds the stock to its Short Term Buy List.
BT Group (BT): The British telecom titan is bucking a broadly lower London tape today after being added to the Conviction Buy list at Goldman Sachs.
Charles Schwab (SCHW): The stock, up sharply yesterday, is now Neutral from Sell at Compass Point amid an increasingly attractive interest rate environment. Its price objective, previously $17, gets taken to $20.
Deutsche Post (OTCMKTS:DPSGY): HSBC Securities hoists the stock to Neutral from Underweight.
Edwards Lifesciences (EW): EW is increased to Buy from Neutral at Citigroup.
Intel (INTC): The semiconductor stock, a key Dow (INDEXDJX:.DJI) component, gets a Buy-from-Hold aprÃ¨s-earnings upgrade at B. Riley & Co.
Juniper Networks (JNPR): MKM Partners takes the tech stock to Buy from Neutral.
Marsh & McLennan (MMC): Credit Suisse moves its fellow financial firm to Outperform from Neutral.
Melco Crown Entertainment (MPEL): Jefferies juices its investment assessment to Buy from Hold.
Pearson (PSO): The Financial Times publisher is hoisted to Hold from Sell at SociÃ©tÃ© GÃ©nÃ©rale.
Sprint (S): Shares get upgraded to Outperform from Neutral at Macquarie.
Yahoo (YHOO): CrÃ©dit Agricole raises its rating to Outperform from Underperform.