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New Stock Coverage: Recommending Starwood Hotels Without Reservations

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

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MINYANVILLE ORIGINAL Wall Street suffered another week straight out of Armageddon, and couldn't even console itself with the one comfort food demonstrated to survive an apocalypse, since Hostess filed for bankruptcy on Friday. The Dow (^DJI) dropped 1.77% in slumping for a fourth straight week, its longest slide since August 2011, back when we were "looking at the stars" while contemplating the debt ceiling. To continue the Oscar Wilde quote, we are now "all in the gutter," although even that couldn't stop an American bowling icon from biting the dust along with the Twinkies baker. Blue chips declined in each session except Friday, when the bleeding was stopped after fiscal cliff talks were characterized as "constructive." (The identical description, incidentally, was applied to Iranian nuclear talks in April, and a fat lot of good that did us last week.) President Obama's tea cup remained conspicuously unused during negotiations with John Boehner, thus he presumably missed out in a 49.13% surge in Teavana Holdings (TEA). Still, better Three Cups of Tea, to quote the title of a disgraced book, than 3D Systems (DDD), which cratered 17.3%. Its stock, much like a cartoon in today's issue of the New Yorker, was a total turkey.

Today in economics, October existing home sales are expected to come in essentially unchanged at 10:00 a.m. Eastern. In earnings action, Agilent (A), Bob Evans Farms (BOBE), Brocade (BRCD), Cracker Barrel Old Country Store (CBRL), Dycom Industries (DY), Jack in the Box (JACK), Lowe's (LOW), New Jersey Resources (NJR), Qihoo 360 Technology (QIHU), Tyson Foods (TSN), and Urban Outfitters (URBN) are all due to report results.

D.R. Horton (DHI): The home builder, which took a big hit last week, is initiated with a Fair Value at CRT Capital.

Hotel Stocks: Marriott (NYSE:MAR) is a Hold at Jefferies, which starts Starwood Hotels (NYSE:HOT) at a Buy. Its respective price objectives are $34 and $59.

IPC The Hospitalist Company (IPCM): WallachBeth begins Buy rated research, and assigns a $42 target price, on a company it says is poised to benefit from an ongoing pay-per-performance shift in the healthcare industry.

Monroe Capital (MRCC): Impressed by its 8.9% dividend yield, Robert W. Baird begins Outperform rated research on the stock, whose price objective is $16.

Nextwave Wireless (WAVE): Shares are a new Neutral at Goldman Sachs, which issues a $17.50 target price.

Software AG (STWRY) The stock is covered at Neutral by Credit Suisse.

(See also: Stock Upgrades: Baker Flowers Foods Rolling in Dough and Stock Downgrades: K12 Still Has Lots to Learn.)
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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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