BKD, SRZ, SUN, RUE, MRGE, PETM Popular Stocks
U.S. stocks traded higher Friday as the Dow Jones Industrial Average rose 0.78% to 10277, the S&P 500 jumped 0.56% to 1093 and the Nasdaq Composite climbed 0.76% to 2165.
Sidoti & Co. raised its stock-investment rating on assisted living company Brookdale Senior Living Inc. (NYSE:BKD, $16.40, +$0.57, +3.60%) to buy from neutral, citing improved occupancy and rate growth, among other factors. Other companies in the sector also gained, including Sunrise Senior Living Inc. (NYSE:SRZ, $2.79, +$0.38, 15.77%), which had been on a slump since its third-quarter results were released Monday.
Refiner Sunoco Inc.’s (NYSE:SUN, $26.62, -$0.60, -2.20%) ongoing restructuring isn’t likely on track to yield a materially improved company, Goldman Sachs says in cutting the stock to sell from neutral and adding it to the firm’s conviction list.
Teen-clothing retailer rue21 Inc. (NASDAQ:RUE, $24.30, +$5.30, 27.89%) dazzled investors Friday. Headquartered in Warrendale, Pa., rue21 operates a chain of 500 clothing stores in nearly every state. By the end of this year, rue21 will have opened 88 new stores, including 78 that had been opened by Oct. 3. The company aims to double the number of stores it operates in five years.
Merge Healthcare Inc. (NASDAQ:MRGE, $3.08, -$0.52, -14.44%) announced Friday it plans to sell up to 9 million shares to several institutional investors at a 17% discount to Thursday’s closing price.
Goldman Sachs upgraded shares of PetSmart Inc. (NASDAQ:PETM, $25.65, +$0.95, 3.85%) to buy from neutral. The firm, in a note to clients, said it doesn’t expect any surprises from the company’s third-quarter results, which are expected Wednesday. It also believes PetSmart’s management will hold its fourth-quarter guidance, but estimates the company will ultimately exceed its guidance.
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