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Wall Street shuts down for 2nd day | Wall Street Beat

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MassDevice.com Wall Street Beat

The New York Stock Exchange was closed for a 2nd day today for the 1st time in 124 years, after Hurricane Sandy had its way with lower Manhattan yesterday. The storm also took out the NASDAQ exchange.

The Category I hurricane killed at least 108 people as is raged up the Eastern Seaboard from the Caribbean, 39 of them in the U.S.

The NYSE and NASDAQ said they plan to re-open tomorrow.

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"This was a devastating storm, maybe the worst that we have ever experienced," New York City Mayor Michael Bloomberg said, according to Fox News. Millions of people were still without power as of about 4:30 p.m. today.

President Barack Obama declared a state of emergency for the Empire State, freeing up millions in federal aid to help in the counties of Bronx, Kings, Nassau, New York, Richmond, Suffolk, and Queens.

 Abbott plans $10B bond issue ahead of AbbVie spinout
Abbott (NYSE:ABT) plans to sell more than $10 billion worth of new bonds next week in part to fund the spinout of its branded pharmaceuticals division as AbbVie, according to unnamed sources.
Read more

 QuantiaMD pulls in $12M
QuantiaMD raised $12 million from return backer Fuse Capital for its mobile, online physician community and collaboration platform.
Read more

 Mitralign reels in $2M

Heart valve maker Mitralign raised $2 million in a debt and equity round, according to a regulatory filing.
Read more

 Ariste Medical raises $1M for new drug-eluting graft

Ariste Medical said it raised $1.3 million and landed a new patent to advance the development of a new drug-eluting vascular graft.
Read more

 Analysts’ ups and downs

  • Abbott (NYSE:ABT): Zacks reiterates "neutral" rating, sets $69 price target.
  • C.R. Bard (NYSE:BCR): Zacks reiterates "neutral" rating, sets $102 price target.
  • Intuitive Surgical (NSDQ:ISRG): Bank of America upgrades from "neutral" to "buy" rating, sets $620 price target.
  • Orthofix (NSDQ:OFIX): Sidoti upgrades from "neutral" to "buy" rating,
  • Palomar Medical (NSDQ:PMTI): TheStreet Ratings downgrades from "hold" to "sell" rating.
  • St. Jude Medical (NYSE:STJ): Morgan Stanley lowers from "overweight" to "equal-weight" rating, cuts price target from $52 to $42; Piper Jaffray sets "overweight" rating, $48 price target; Wells Fargo maintains "outperform" rating.
  • Zimmer (NYSE:ZMH): Citigroup raises price target from $55 to $60, maintains “sell” rating.

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