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New Stock Coverage: Black Diamond Looks Like a Gem


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

MINYANVILLE ORIGINAL Lions and tigers and bears, oh my! The New York Times (NYT), purportedly a lion among paper tigers, nosedived 21.97% yesterday while Build-A-Bear Workshop (BBW) tumbled 22.27%. Elsewhere, however, Wall Street's animal spirits were all in hibernation, with the Dow (^DJI) eking out a 0.20% advance as shares barely budged for a second straight day.

Standout issues included Procter & Gamble (PG), whose Charmin toilet paper provides proof that Kim Kardashian keeps plunging to new depths for fresh publicity. It climbed 2.92% to best all blue chips and now stands at a new four year peak. In a week in which United Parcel Service (UPS) reported reduced revenue and Lance Armstrong further disgraced the US Postal Service, there was at least a check in the mail at (STMP). The stock gained 3.86% in regular trading and is surging some 14.68% ahead of this morning's opening bell.

Michael Jackson was bumped from a beyond-the-grave list of money makers by Liz Taylor. But he still fared better than Michael Jackson of AutoNation (AN), whose stock fell 4.75% after it announced earnings. Today in economics, at 9:55 a.m. Eastern we get the University of Michigan's final figure for October consumer confidence.

A frenzied week for quarterly earnings announcements comes to a close with China Life Insurance (LFC), Comcast (CMCSA), Ericsson(ERIC), First Solar (FSLR), Legg Mason (LM), Merck (MRK), Moody's (MCO), NTT Docomo (DCM), Petrobras (PBR), Statoil (STO), and Weyerhaeuser (WY) all due to report results.

Accuray (ARAY): Shares are initiated with a Buy at Brean Capital, whose price target is $10.

Biotechs: Citigroup begins Buys on Alkermes (ALKS), Ariad (ARIA), and ArQule (ARQL).

Black Diamond (NASDAQ:BDE) Roth Capital begins Buy rated research on the skiing and mountaineering outfit, establishing an $11 price objective.

Bonanza Creek Energy (BCEI): The stock is a new Buy at SunTrust.

Cliffs Natural Resources (CLF): Dahlman Rose resumes the commodity company at a Hold after transferring analyst coverage. Low iron ore prices and cash flow concerns will persist, in its view.

Cracker Barrel Old Country Store (CBRL): CL King covers CBRL at a Buy.

Dick's Sporting Goods (DKS): BMO Capital Markets begins Market Perform rated coverage on DKS.

Gulfport Energy (GPOR): Shares are resumed with a Outperform at Credit Suisse.

The Medicines Company (MDCO): The name is a new Neutral at Citigroup.

(See also: Stock Downgrades: Electronic Arts Not a Pretty Picture and Stock Upgrades: Expedia Is Going Places.)
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No positions in stocks mentioned.
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