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Crude-oil futures on Monday closed at their best level in about 14 months, supported by bullish comments from Russian President Vladimir Putin and Saudi Arabia’s energy minister. West Texas Intermediate crude oil trading on the New York Mercantile Exchange for November delivery gained $1.54, or 3.1%, to settle at $51.35–the highest finish for oil since July 15, 2015, according to FactSet data. The rise came as Putin on Monday said Russia would support a freeze, or even a cut, to crude-oil production, and Saudi Arabia’s energy minister Khalid al-Falih, at an energy meeting in Istanbul, said a rise in crude prices to $60 a barrel wasn’t “unthinkable.” Skeptics remain because the talks in Istanbul won’t necessarily mean a firm agreement will be reached, while other market participants question how effective a production cut by members of the Organization of Petroleum Exporting Countries and non-OPEC members will be in tamping down oil production from countries eager to retain and extend their market share. OPEC’s official meeting is scheduled for Nov. 30, when oil officials have said details of a freeze may be solidified.

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Panera Bread Co. was upgraded to buy from neutral on Monday at Longbow Research on improved results from the restaurant chain’s tech and service upgrade program, which the company calls Panera 2.0. The program, which launched in 2014, includes digital ordering and delivery. Longbow believes the program got off to a slow start, but began to pick up in mid-2015 and could drive “meaningful upside” to same-store sales growth for the next 18 months or more. “The transaction lift from the 2.0 conversion is clearly evident in Panera’s reported same-store transactions on a two-year stacked basis,” Longbow’s note said. Now that stock prices have dropped (shares are down 8% over the past three months), analysts say the valuation is “compelling.” Shares of Panera Bread are up 2.2% in Monday trading, but down 0.7% for 2016 so far. The S&P 500 Index is up 5.9% for the year to date.

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Gold futures rebounded on Monday to reclaim a key level after finishing at a four-month low in the previous session. December gold rose $8.50, or 0.7%, to settle at $1,260.40 an ounce for the session. Gold’s move above its 200-day moving average of $1,260 is supportive from a technical perspective, said Peter Hug, global trading director at Kitco Metals Inc. Still, it is too early to determine whether the precious metal’s recent weak trend has reversed, he added.

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Under Armour Inc. was upgraded to outperform from market perform at Wells Fargo on Monday as concerns about the impact of The Sports Authority bankruptcy fades. The athletic apparel and accessories company’s valuation range was increased to $44-$46 from $38-$42. The Sports Authority’s share of Under Armour sales had fallen to between 3% and 4% more recently from 15%, analysts wrote. This revenue loss will have an impact until things turn favorable in early 2017 after the “Sports Authority drag rolls off,” supply chain is sold in the off-price channel, and the Kohl’s Corp. roll out begins. Wells Fargo also believes there’s much room for growth versus the competition (like Nike Inc. ), in footwear and internationally. Under Armour shares are up 1.5% in Monday trading, but down 27.5% over the past year. The S&P 500 Index is up 7.6% for the last 12 months.

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Netflix Inc. shares fell 1% in early trade, after Deutsche Bank initiated coverage of the stock with a sell rating and $90 price target, on concerns that market expectations for the streaming giant are too optimistic. While the company has a good base for growth thanks to its first-mover advantage, its costs are rising and a takeover is unlikely, analysts wrote in a note. “This is a very long duration, high multiple investment with market expectations that appear too high through 2020, when most analysts seem to be looking for valuation support,” said the note. “We are skeptical that Netflix will be acquired.” A deal would be 25% dilutive to Disney’s per-share earnings, they wrote. On a brighter note, Netflix is winning the competitive battle for the streaming video on demand business at home and overseas, although Amazon poses a threat. “We think Amazon is the key competitor to watch,” the analysts wrote. Netflix shares have fallen 9% in the year so far, while the S&P 500 has lost 5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News