Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

New Stock Coverage: Garmin Finds Its Way


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

MINYANVILLE ORIGINAL A day after the tossing of 132 tons of ripe tomatoes turned a Spanish city into a sea of red, Madrid did much the same to markets worldwide when it announced the postponement key request for economic aid. The Dow (^DJI) dropped for a seventh session in nine and all major averages are now on course for their worst week of the month. Equities were also unnerved by a sense that whatever Ben Bernanke says at the mountain resort of Jackson Hole, he is powerless to prevent the country plunging off a fiscal cliff. (Cliffs Natural Resources (CLF) clearly feels the pain, tumbling 2.96% to continue a swoon that has taken it down over 20% this summer.) At least the Fed head could console himself with his favorite newspaper gaining 1.43% on an otherwise down day. Birthday boy Warren Buffett has also long invested in the Washington Post (WPO), of course, but another 82-year old had a night to forget. Radio was big when both Buffett and Eastwood were boys and it evidently still is, with Pandora (P) riding an analyst upgrade to advance 14.29%. It's a busy morning in economics ahead of the three-day holiday weekend. The University of Michigan's final figure for consumer confidence in August is out at 9:55 a.m. Eastern, and July factory orders follow at 10:00 a.m.

Fresenius Medical (FMS): Société Générale starts the stock at a Buy and HSBC Securities assigns an Overweight. The company is seen as a defensive quality play paired with good growth characteristics.

Merrimack Pharmaceuticals (MACK): Bank of America-Merrill Lynch launches Buy rated research on MACK.

Medical/Scientific Stocks: BG Medicine (BGMD) and Fluidigm (FLDM) are each begun with Buys at Mizuho, whose respective price objectives are $6 and $17.

Satellite Navigation Stocks: Garmin (GRMN) is initiated with a Outperform at Wells Fargo, which has a Market Perform on rival Trimble Navigation (TRMB).

(See also: Stock Downgrades: Air France Losing Altitude and Stock Upgrades: Credit Suisse Owes Rival Debt of Gratitude.)
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos