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New Stock Coverage: Tumi Is Going Places

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

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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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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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