Call Buying Activity in Adobe Systems (ADBE) Despite Street Downgrade Ahead of Analyst Meeting -Susquehanna
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Wall St. inches up with financials; earnings in focus
October 16, 2017 7:19 AM EDTBy Caroline Valetkevitch
NEW YORK (Reuters) - All three major U.S. stock index rose to record closing highs on Monday, with the Dow Jones Industrial Average less than 50 points below 23,000, ahead of a long list of earnings this week and as financial shares recovered from last week's losses.
JPMorgan Chase (NYSE: JPM) and Bank of America (NYSE: BAC) led gains in bank stocks, tracking a climb in U.S. Treasury yields, which benefits banks. JPMorgan was up 2.1 percent, while Bank of America was up 1.6 percent.
... MoreUPDATE: Deutsche Bank Downgrades Adobe (ADBE) to Hold
October 16, 2017 4:56 AM EDT(Updated - October 16, 2017 7:44 AM EDT)
(updated to add analyst comment)
Deutsche Bank downgraded Adobe (NASDAQ: ADBE) from Buy to Hold with a price target of $160.00.
Analyst Nandan Amladi expects the stock to trade sideways citing a nearly full valuation in... More
