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

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

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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 priceline.com (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?)
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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