The man who accurately predicted the death of equities in 1987 sadly left us last week even as Argo, centered eight years earlier when the demise of equities proved to be extraordinarily premature, won best picture.
The death of personal computers, the subject of a much more recent cover story, is certainly taking its sweet time, to judge by a 14% jump in industry giant Hewlett-Packard (HPQ). Sandstorm Gold (SAND) sank 13% as the precious metal tumbled 2.26% to settle at a seven-month low. There were, however, some Silver Linings to be found for bullion, for it ended the week being fondled by the hottest woman in Hollywood. (In my next life, I'm coming back as a gold plated, 13-and-half-inch, 8.5 pound man named Oscar.)
Eastman Kodak (EKDKQ), now in bankruptcy, is no longer emblazoned on the Academy Awards theater and with digital camera king Shutterstock (SSTK) surging 17.15% on Friday to a fresh-52 week peak, it isn't hard to see why. Diamond thieves split quickly after a heist and Dimon, Jamie was urged to do the same.
No top-tier economic data due today, but earnings announcements are expected out of Autodesk (ADSK), Caesars Entertainment (CZR), 3D Systems (DDD), FirstEnergy (FE), Hertz (HTZ), Lowe's (LOW), Pearson (PSO), and URS Corporation (URS).
Akamai Technologies (AKAM): Macquarie moves the stock to Outperform from Neutral with a $42 price objective. The broker says a recent stock price sell-off represents a good buying opportunity.
Anheuser-Busch InBev (BUD): The brewing behemoth is now Neutral from Reduce at Nomura.
Atlas Energy (ATLS): Robert W. Baird takes ATLS to Outperform from Perform and increases its price objective to $45 from $43. It is encouraged by higher than expected 2013 distribution guidance.
Cummins (CMI): The company gets added to Goldman Sachs' list of Conviction Buys.
FTI Consulting (FCN): Shares are now Outperform from Market Perform at Northland.
Occidental Petroleum (OXY): OXY is upgraded to Outperform from Market Perform at Raymond James.
Pan American Silver (PAAS): The commodity company gets a Buy-from-Hold boost at Canaccord, which also takes its price objective up to $23.50 from $22. A strong balance sheet, financial discipline, and exploration and production opportunities are all viewed as favorable factors for the equity.
Paper & Packaging: International Paper (IP) and Rock-Tenn (RKT) are each moved to Overweight from Neutral at JPMorgan.
Perrigo (PRGO): UBS hoists the healthcare outfit to Buy from Neutral, sending it up sharply ahead of the open.
Safeway (SWY): The supermarket stock, fresh from an earnings-related surge last week, is lifted to Neutral from Underperform at Bank of America-Merrill Lynch.
Sotheby's (BID): Brokerage Craig Hallum increases the auction house to Buy from Hold amid continued strength in the contemporary art market.
Southwestern Energy (GWN): Goldman adds the equity to its Conviction Buy list.
Total System (TSS): TSS is taken to Outperform from Market Perform at Raymond James.
VMware Inc. (VMW): Citing an increasingly compelling valuation, Citigroup takes the tech name to Neutral from Sell with an intact price objective of $75.
WebMD Health (WBMD): The stock, which surged 25.40% on Friday to top the Nasdaq (^IXIC), today gets a substantial Strong Buy-from-Market Perform ratings raise at Raymond James.