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New Stock Coverage: Analyst Picks Up Apple


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

MINYANVILLE ORIGINAL Over in Siberia, a cow climbed five floors to escape the attention of an amorous bull, but Wall Street's burgeoning bull market owed everything to its embrace of a cash cow. Dean Foods (DF), America's largest milk producer, surged 40.58% to easily top the S&P 500 Index (^GSPC) and enable it, if barely, to continue a recent upward run. Stocks earlier traded down after suggestions that no more economic stimulus would be forthcoming came from Richard Fisher, president of the Federal Reserve Bank of Dallas. This as Dallas the soap opera finished its comeback season, its oilmen overjoyed with a 20%-plus increase in the price of crude since the series' June debut. The show perfected the art of the Cliff (Barnes) hanger, and how Priceline (PCLN) must now regret sending its own star off a cliff earlier this year. Shares slumped some $117.48, or 17.28%, after iffy earnings. Today in economics, June wholesale inventories are out at 10:00 a.m. Eastern. In earnings action, Aviva (AV), Brinker International (EAT), Commerzbank (CRZBY), Randgold Resources (GOLD), Kohl's Corp. (KSS), and Wendy's (WEN) are all due to report results.

Anglo American Platinum (AGPPY): Shares are resumed with a Reduce at Nomura.

Apple Inc (AAPL): The stock is initiated with a Buy at Stifel Nicolaus, which cites as an upcoming catalyst the company's widely-anticipated iPhone 5 launch in September or October.

Curtiss-Wright (CW): Shares are initiated with an In-line at Imperial Capital, whose price objective is $35.

Northstar Realty (NRF): NFR is a new Outperform at JMP Securities.

Rexnord (RXN): Bank of America-Merrill Lynch resumes Neutral rated research on RXN.

Tech Stocks: Lazard launches Buys on both Seagate (STX) and Western Digital (WDC).

Thermo Fisher (TMO): TMO is initiated with a Buy at Wallach Beth, whose target price is $68.

Transportation: C.H. Robinson Worldwide (CHRW) is a new Neutral at Longbow, which begins Ryder System (R) at a Buy.

Ulta Salon Cosmetics & Fragrance (ULTA): Shares get initiated with a Buy at Goldman Sachs.

(See also: Stock Upgrades: American Electric Power Set to Surge? and Stock Downgrades: Priceline Flatlines After Falling Off Cliff.)
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