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New Stock Coverage: Black Diamond Looks Like a Gem

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

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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 Stamps.com (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.)
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.

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