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New Stock Coverage: Tumi Is Going Places


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

MINYANVILLE ORIGINAL The full Monti failed to stop stocks advancing for a fourth straight session, ably assisted by another impressive performance in a clothing company whose scantily clad models often come awfully close to The Full Monty. The sudden resignation of Italian Prime Minister Mario Monti powerless to prevent equities rising for a fourth straight session, with an upgrade-assisted 1.98% increase in recently surging Abercrombie & Fitch (ANF) helping add to the upbeat tone in equities. Trimble Navigation (TRMB) gained 3.18% to hit the highest level in its history, but Apple Inc. (AAPL) ended off another 0.64% as its map apps continue on a road to nowhere.

Payday lender Cash Store Financial Services (CSFS) nosedived 19.91% to a new low on posting the NYSE's poorest performance, and the Pawn Stars dirtied a campsite. Money laundering, meanwhile, has just cost HSBC (HBC) a record $1.9 billion fine. The firm was founded by Sir Thomas Sutherland, who hailed from Scotland's Aberdeen. A city so famously frugal its citizens are said to have invented copper wire by fighting for a penny. Some solace for his heirs can therefore be found in Freeport-McMoRan Copper & Gold (FCX) bucking its recent red ink to rise. 1.07%.

Today in economics, October wholesale inventories are out at 10:00 a.m. Eastern and the Federal Open Market Committee starts its two-day policy meeting in Washington, DC. In earnings action, Casey's General Stores (CASY), Dollar General (DG), Geospace Technologies (GEOS), Magellan Health Services (MGLN), The Pantry (PTRY), and ThyssenKrupp (PINK:TYEKF) are all due to report results.

Align Technology (ALGN): Shares are a new Neutral at Goldman Sachs.

Aruba Networks (ARUN): The stock is initiated with an Outperform at Oppenheimer, whose target is $25.

Atlas Resource Partners (ARP): Bank of America-Merrill Lynch has a new Neutral on the name.

Colgate-Palmolive (CL): The company is covered at an Overweight at HSBC Securities.

Digital Cinema (DCIN): Shares are a fresh Neutral at B. Riley.

Healthways (HWAY): Citigroup starts Sell rated research.

lululemon athletica (LULU): LULU is assigned an Underperform at Crédit Agricole, which feels growth is reflected in the stock price and that the market is becoming increasingly competitive. Its price objective is $79, and the equity is lower ahead of the open.

Maximus (MMS): The business services firm gets begun with a Buy at Citi.

Oil Stocks: Dahlman Rose has a Hold on Hess (HES) and begins Buy rated research on Occidental Petroleum (OXY), whose catalysts include increasing cash distributions.

Ruckus Wireless (RKUS): Shares are an Overweight at Morgan Stanley.

Splunk (SPLK): The stock is a new Neutral at Mizuho.

Specialty Retail: Michael Kors (NYSE:KORS) and upscale luggage maker Tumi Holdings (NYSE:TUMI) each get added to the Conviction Buy List at Goldman. The bank begins buys on both Gap Inc. (NYSE:GPS) and Tilly's (NYSE:TLYS). It has new Neutrals on Abercrombie & Fitch (NYSE:ANF), Aéropostale (NYSE:ARO), American Eagle Outfitters (NYSE:AEO), Francesca's (NASDAQ:FRAN), and Urban Outfitters (NASDAQ:URBN). Coach, Inc. (NYSE:COH) is started at a Sell.

(See also: Stock Downgrades: Wheels Come Off Foster Wheeler and Stock Upgrades: Glass Half Full for Monster Beverage.)
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