Stocks held narrowly mixed as bulls waited on the sidelines for reason to move back into the market. A selloff in crude oil prices pulled the energy sector lower to start the week. Jefferies has cut its rating on Nike Inc. (NKE) to HOLD from BUY as competition from Adidas heats up. The firm said growth and margins could be pressured as marketing campaigns become central to holding market share. Herbalife Ltd. (HLF) rallied after conducting a self-tender offer to purchase up to $600 million in shares. The vitamin company also said it had held talks with a potential investor on going private. The Container Store Inc. (TCS) stumbled after amending loan agreement terms and reducing its full-year profit guidance. Adjustments to its loan agreement are expected to rack up around $7 million in incremental interest costs.
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Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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