Citi Boosts Macy's, Carnival Up, Google Dominates

Analyst from Citigroup Inc. (NYSE:C), Deborah Weinswig, gave a boost to Macy's, Inc. (NYSE:M) with a recommendation to Buy.  It seems Macy’s efforts to turnover more authority to regional managers and allow them to “localize” stores is working. Carnival Corporation (NYSE:CCL) and Google (NASDAQ:GOOG) are also big names in the news that are fueling today's equity rally.

Carnival Corporation (NYSE:CCL) surprised and beats by $0.15 as FQ3 EPS came in at $1.33, with revenue of $4.14B (-14%) vs. $4.06B. Projections are that Sees Q4 EPS of $0.16-0.20 vs. $0.22 consensus. Shares of the company were +5.8% premarket and are now +7%. Carnival Corp.'s (CCL) fiscal third-quarter earnings fell 20%, though the results exceeded forecasts on better-than-expected pricing and as yields fell less than feared over the seasonally strong summer months.

The cruise-ship company raised its earnings forecast for the fiscal year to $2.16 to $2.20 a share. Carnival in June projected $2 to $2.10, which reflected higher-than-expected fuel prices. Full Story.

Google Inc. (Public, NASDAQ:GOOG) continues its quest for world domination.   Q3 results are likely to be in line with expectations, Q4 "could have much more upside than the Street is modeling," Canaccord Adams says, implying that investors should consider add to positions ahead of Q4. "Google continues to maintain its dominance in search, but has recently raised its monetization level with YouTube." 

Google shares are now trading above $500 and pushing to a new 52-week high, YTD Google shares are up 62%. Full Story.