MARKET PULSE-Cooper Tire, Apple, BlackBerry, GW Pharmaceuticals, Atossa
(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks fell on Monday, extending their two-week decline, as the ongoing U.S. government shutdown kept investors jittery, with no sign politicians were willing to relax positions over the debt ceiling or budget impasse.
The Dow Jones industrial average was down 0.69 percent, the S&P 500 0.60 percent and the Nasdaq Composite 0.75 percent.
** APPLE INC, $491.49, up 1.7 pct (12:40 p.m. ET)
Jefferies & Co upgraded its rating on the company's stock to "buy" from "hold" and raised its price target to $600 from $425, saying it expects the iPhone-maker's gross margins to improve as suppliers have become far more lenient on price.
"In contrast to earlier this year when suppliers boasted that Apple would not be able to push them around anymore, they are now scrambling to be in Apple's supply chain," the analysts wrote in a note.
The Jefferies analysts also anticipate a buildup of demand for the iPhone 6 smartphone, which is expected to have a greater than 4 inch screen-size, similar to competing products such as Samsung's Galaxy S4.
** COOPER TIRE & RUBBER CO, $26.01, down 12 pct (12:40 p.m. ET) Continued...