New Stock Coverage: Deckers Outdoor Up Off the Floor

By Justin Sharon  NOV 02, 2012 12:44 AM

Wall Street ratings agencies set the tone for today's stock market.

 


MINYANVILLE ORIGINAL A day after Halloween, Wall Street’s animal spirits bounced back from the dead. Christmas — if not Challenger, Gray and Christmas, which announced some sobering news on October layoffs — arrived early for financial markets, with the S&P 500 (^GSPC) enjoying its single best session since September 13.
 
ADP’s private payroll report, weekly unemployment claims, the ISM manufacturing index, and consumer confidence all came in above consensus expectations. As for the final item on Thursday’s “Fierce Five” list of economic indicators, third quarter productivity, that did disappoint. For this, McKayla Maroney and her quartet of teammates bear the blame for the country’s collective goofing off during July and August.
 
Bill Clinton once said American productivity would improve enormously if only America followed Stephen Covey’s Seven Habits of Highly Effective People. As such, Bubba surely enjoyed the analyst inspired 5.57% advance in Franklin Covey (FC). (Slick Willie will, however, feel the pain of Pain Therapeutics (PTIE), which tumbled 36.62% to a new low in posting the Nasdaq‘s (^IXIC) poorest performance.)
 
Today in economics, analysts expect an improvement in September factory orders at 10:00 a.m. Eastern. Another peak earnings week comes to a close with Alpha Natural Resources (ANR), Chesapeake Energy (CHK), Chevron Corporation (CVX), Madison Square Garden (MSG), and Royal Bank of Scotland (RBS), and Washington Post (WPO) all due to release results.
 
AFC Enterprises (AFCE): Shares are initiated with an Overweight at Piper Jaffray.
 
Charter Communications (CHTR): Deutsche Bank has a Hold, and $83 price objective, on CHTR.
 
Deckers Outdoor (NASDAQ:DECK): The stock, which has slumped 73.39% over the past 12 months, is resumed with a Buy at Jefferies.
 
Delphi Automotive (DLPH): Shares are reinstated with a Buy at Deutsche Bank, whose target price is $41.
 
Eldorado Gold (EGO): Morgan Stanley starts the stock at Overweight.
 
Summit Midstream Partners (SMLP): SMLP is picked up with a Buy at Janney Montgomery Scott.

(See also: Stock Upgrades: Starbucks Still Making Big Bucks and Stock Downgrades: Lady Luck Leaving Las Vegas Sands.)
No positions in stocks mentioned.

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