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New Stock Coverage: Ugg Owner Deckers Outdoor Looking 'Bootiful'


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

MINYANVILLE ORIGINAL Wall Street indeed enjoyed a Ruby Tuesday, with Dow Industrials (^DJI) rising for a fifth straight session by the time the "fifth member" of the The Rolling Stones brought proceedings to a close. Online travel outfit TripAdvisor (TRIP) surged 6.56% to top the entire S&P 500 Index (^GSPC) and American International Group's (AIG) vacation-loving CEO saw his stock surge 5.70% on a day that making money was apparently so effortless even Uncle Sam was able to do it.

Today at 12:30 p.m. Eastern the Federal Open Market Committee announces its decision on interest rates, and Fed head Ben Bernanke holds a press conference at 2:00 p.m. In corporate earnings action, Costco (COST), Joy Global (JOY), and Restoration Hardware (RH) are all due to report results.

Akamai Technologies (AKAM): Shares are a new Neutral at Goldman Sachs, whose target is $44.

Athletic Apparel: Nike (NKE) is a new Neutral at JPMorgan, which has an Underweight on Under Armour (UA).

Carlyle (CG): Bank of America-Merrill Lynch launches Neutral rated coverage on CG.

Deckers Outdoor (NASDAQ:DECK) The maker of Ugg boots is assigned a Buy at Janney Montgomery Scott, whose target is $50. The broker believes recent challenges are transitory.

Fertilizer Stocks: Agrium (AGU) and Intrepid Potash (IPI) are new Neutrals at Goldman Sachs, which starts CF Industries (CF) at a Sell and picks up Mosaic (MOS) and Potash (POT) with Buys.

Mattress Firm Holding (MFRM): Shares are initiated with a Buy at Citigroup.

Online Travel: Expedia (EXPE) is a new Neutral at Janney, along with MakeMyTrip (MMYT) and (PCLN). Orbitz (OWW) is initiated with a Buy.

OpenTable (OPEN): Shares are an Overweight at JPMorgan.

Yelp Inc. (YELP): The name is an Outperform at Credit Suisse.

(See also: Stock Downgrades: FedEx Check Goes Missing In Mail and Stock Upgrades: Coinstar Set to Go Ka-Ching?)
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No positions in stocks mentioned.
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