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New Stock Coverage: Sirona Dental Making Money Talk

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

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MINYANVILLE ORIGINAL Exactly 138 years to the day after the elephant, that creature of remarkable memory, was officially anointed as the symbol of the Republican Party, someone obviously forgot to tell Mr. Market that is has historically fared far better under Democrats.

Just twenty-four hours after President Obama was reelected, the Dow (INDEXDJX:.DJI) suffered its steepest single session slide since November 9, 2011. If we have seen this movie before - the day after he was first given the White House keys in 2008 blue chips similarly skidded - that certainly didn't do any harm to Netflix (NASDAQ:NFLX), up 1.72% in one of the day's rare gainers.

Newspaper empire News Corp (NYSE:NWS) also advanced 1.61%, and on the day fellow media firm Tribune asked for approval for $1.4 billion in bankruptcy-exit financing. Its Chicago flagship famously flubbed the 1948 election, and we just had our own "Dewey Defeats Truman" moment. Proof, if any were needed, that there are no experts.

As banks endured their worst day in a year, investors sprinted away from JPMorgan Chase (NYSE:JPM), which fell 5.60%. ING Groep (ING), much like the New York marathon it sponsors, was also stuck at the starting gate, tumbling 2.48% on a 39% plunge in profit.

This morning in economics, analysts anticipate an increase in the University of Michigan's preliminary November consumer sentiment survey at 9:55 a.m. Eastern, and September wholesale inventories arrive at 10:00 a.m. On the earnings front, results are expected out of Adidas (ADDYY), Commerzbank (CRZBY), Deutsche Telekom (DTEGY), Duke Energy (DUK), FirstEnergy (FE), Kohl's Corp. (KSS), Nordstrom (JWN), Public Storage (PSA), Repsol (REPYY), Siemens (SI), and Walt Disney (DIS).

Align Technology (ALGN): Shares are begun with a Buy at Stifel Nicolaus, which issues a price objective of $32.

Banco Santander Mexico (BSMX): The stock gets picked up with a Buy at Goldman Sachs.

Cree, Inc. (CREE): CREE is covered at Outperform with Wedbush.

Dental Stocks: Sirona Dental (NASDAQ:SIRO) is initiated with a Buy and $68 target price at Stifel Nicolaus, which has a Hold on Dentsply (NASDAQ:XRAY).

Javelin Mortgage (JMI): Oppenheimer assigns an Outperform on JMI.

Penn National Gaming (PENN): PENN is a new Buy at Deutsche Bank.

Woodward (WWD): Jefferies has a Hold on WWD.

Workday (WDAY): The name is a new Outperform at JMP Securities.
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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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