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Stocks recover as banks report, Yellen speaks

Yahoo Finance

After a rough week, stocks are getting a little pop today as the Fed’s Janet Yellen hints low rates may be around for awhile. Catch The Final Round at 4 p.m. ET with Jen Rogers, Andy Serwer, Nicole Sinclair, and Mark Spellman of Alpine Funds.

Winners and losers

Stocks dropping to end the week include HP on a cautious cash flow forecast—The printer maker will, however, hike its dividend and boost its buyback program; Sam Adams brewer Boston Beer slipping on a Berenberg downgrade citing downside risk to earnings; and Twitter, its roller coaster ride continues as Salesforce CEO Marc Benioff tells the FT that Salesforce is ruling out a bid for the company. Is this the bottom for for troubled Twitter?

Stocks finishing the week on a high note include IMAX as all eight Harry Potter films come to IMAX theaters for the next week; teen retailer Zumiez after Piper Jaffray upgraded shares to overweight with a $28 price target; and AMD, with the chipmaker popping after announcing a deal with Alibaba Cloud to provide chipsets for Alibaba Cloud’s data centers. As a disclosure, Yahoo owns a 15% stake in Alibaba.

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Looking ahead

  • On Monday, the Fed releases industrial production figures for September. In August production fell by 0.4%, month over month.

  • On Tuesday we’ll get a read on inflation with CPI data for September. Last month we saw core CPI—which backs out food & energy costs—rise 2.3% year over year.

  • On Wednesday, the Census Bureau will release housing starts data for September. In the prior month, starts hit a seasonally adjusted 1.14 million.