New Stock Coverage: Trulia Inc Is on Easy Street

By Justin Sharon  AUG 21, 2013 9:25 AM

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

 


The Dow’s (^DJI) case of the Mondays now even extends to Tuesday, until recently its most reliable money maker. Blue chips fell for a fifth straight session, their longest losing streak of 2013, and briefly broke below 15,000. Some stocks did buck a bad tape. A broker boost sent Facebook (FB) up 1.59% as its sad sack 1.1 billion users provided redundant proof that misery loves company. Not that there’s anything wrong with that but, judging by the bulging bank balance of Jerry Seinfeld, surely it’s far better to be happy. Or at least Joly, the CEO who saw his Best Buy (BBY) surge 13.24% on an otherwise desultory day.

Hubert’s fellow Euro Schäuble proved to be a sheep in Wolfgang’s clothing apropos of Athens. As for sheepskin clothes, Ugg-endorsing quarterback and all American boy Tom Brady enjoyed a 1.84% jump in Deckers Outdoor (DECK) 1.84%. (Although the girly man is still out-earned by his wife, one Brazilian apparently unaffected by recent action in submerging markets.) An appropriate broker boost on National Radio Day sent Pandora Media (P) to the highest level in his history, and Nikola Tesla (TSLA), who knew a thing or two about Mr. Marconi’s wireless, inspired a 3.23% increase in that unstoppable stock.

Today in economics, analysts expect an improvement in July existing home sales at 10:00 a.m. Eastern. At 2:00 p.m. the Federal Open Market Committee releases minutes to its July 30-31 policy meeting. On the earnings front, American Eagle Outfitters (AEO), China Telecom (CHA), Heineken (HKHHY), Hewlett-Packard (HPQ), J.M. Smucker (SJM), L Brands (LTD), Lowe’s (LOW), Madison Square Garden (MSG), PetSmart (PETM), Staples (SPLS), Target (TGT), and Toll Brothers (TOL) are all due to release results.
 
Investors Bancorp (ISBC): Deutsche Bank has a Hold on ISBC.
 
Navistar (NAV): Susquehanna starts the stock at a Neutral.
 
PACCAR (PCAR): The truck firm is a new Neutral at Susquehanna.
 
Sanchez Energy (SN): Canccord Genuity starts Buy-rated coverage on the oil and gas company.
 
Trulia Inc (TRLA): JPMorgan assigns an Overweight on the online residential real estate site.
 
WCI Communities (WCIC): Shares are a fresh Outperform at FBR Capital, whose price target is $21 amid its attractive Florida exposure and relatively low-cost land portfolio.
 
(See also: Stock Upgrades: Herbalife Ltd. Still Turning Bill Ackman’s Hair 50 Shades of Gray and Stock Downgrades: Chesapeake Energy Corporation Told to Frack Off.)
No positions in stocks mentioned.

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