New Stock Coverage: Who Needs an Oscar Statue When There's Kinross Gold?

By Justin Sharon  MAR 03, 2014 9:29 AM

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

 


This moneymaking lark is getting awfully easy; pretty soon even Warren will get the hang of it. (That's Warren Buffett. Warren Resources (NASDAQ:WRES), which surged some 17.51% last week, already appears to have it all down pat.) Still, even as the S&P 500 Index (INDEXSP:.INX) hit a historic high, some shares suffered inexplicable pain. Downgraded Ugg sheepskin boots owner Deckers Outdoor (NASDAQ:DECK) tumbled 12.19% on Friday alone, but an even lonelier fate would await Wall Street's Wolf 48 hours on. Sothebys (NYSE:BID) slid 6.67% after cursing an $83 million diamond deadbeat Wolf of its own. The she-wolf who fed Rome's twin founders Romulus and Remus must have wondered "why bother?" after the Eternal City came thisclose to bankruptcy. Facebook (NASDAQ:FB) fell for several successive sessions after Mark Zuckerberg fruitlessly defended his $19 billion deal in Barcelona, a city that knows real value for money after getting history's most priceless soccer star for free. And Ellen DeGeneres brought down Twitter (NYSE:TWTR) at the Oscars on Sunday evening. A few hours too late, alas, for beleaguered Bill Gross.

Today in economics, January construction spending and the Institute for Supply Management's manufacturing index for February are each out at 10:00 a.m. Eastern. On the earnings front, McDermott International (NYSE:MDR), Nu Skin Enterprises (NYSE:NUS), and URS Corp (NYSE:URS) all release results.

Auspex Pharmaceuticals (NASDAQ:ASPX): BMO Capital covers the company at Outperform, sending its stock surging some 6.88% before what looks like will be an otherwise brutal opening bell this morning.

CA Technologies (NASDAQ:CA): Shares are initiated with an Equal Weight by Barclays.

CM Finance (NASDAQ:CMFN): Oppenheimer assigns an Outperform investment assessment along with a $16 price objective. An expected 9.25% dividend yield in 2015 is cited as a potential share-price catalyst.

Continental Building Products (NYSE:CBPX): The stock is a new Neutral at Citigroup, but Credit Suisse, at Outperform, is more bullish.

Egalet (NASDAQ:EGLT): JMP Securities starts the equity at Outperform. Its target price is $19.

Eleven Biotherapeutics (NASDAQ:EBIO): The biotech firm is a fresh Buy at Citigroup. Cowen (Outperform and $35 price objective) is equally upbeat.

Kinross Gold (NYSE:KGC): Shares, up 2.49% even in this morning's terrible tape, are resumed at Outperform by Raymond James.

Ladder Capital (NYSE:LADR): JP Morgan launches Overweight-rated research on LADR.

New York Mortgage Trust (NASDAQ:NYMT): Shares are a new Neutral at Credit Suisse, whose objective is $7.50.

Sequential Brands (NASDAQ:SQBG): Canaccord Genuity gives the stock a Buy rating and $9 price target.

UniQure (NASDAQ:QURE): The stock is established at Outperform ($25 price objective) by Leerink Swann.

Also see:

Stock Upgrades: Kate Spade an Even Better Bet Than Cate Blanchett (MVPRO article)

Stock Downgrades: Scarlett Johansson, Snubbed at Oscars, Sees SodaStream Sink (MVPRO article)
No positions in stocks mentioned.

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