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New Stock Coverage: Ominous Echoes of '87 at Aeropostale?


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

To the myriad other milestones set on Guinness World Records Day, we can add two more, for the Dow Average (INDEXDJX:.DJI) and S&P 500 Index (INDEXSP:.INX) each reached historic peaks. Brooklyn's 67-year-old Janet Yellen, dressed all in black as befits any hipster from her borough, sent US stock markets up again with dovish testimony at her confirmation hearing to head the Fed. Amazon (NASDAQ:AMZN), up another 3.14% to a lifetime best, was a money tree although, alas, the same can't be said for the sadly truncated forest from which it takes its name. Among other equities on the move, the Old Gray Lady Ms. Yellen met her match in a Hollywood graybeard, whose beloved Sony Corporation (NYSE:SNE) surged 3.96% on a broker boost. Fifty Shades of Grey? No thanks, not when handling the book can give you herpes. Far safer to stick with Houghton Mifflin Harcourt (NASDAQ:HMHC), the textbook publisher having advanced 32.17% on its first day of trading. And tumbling Tesla Motors (NASDAQ:TSLA) gave up another 0.79% after a machinery malfunction that resulted in three of its workers being injured by hot metal. Mr Musk's employee approval rating, already less than stellar, may be set to fall further.

In terms of economic events that may move US markets this morning, September wholesale inventories are expected to ease off slightly from the pace seen in August at 10:00 a.m. Eastern. Regarding specific stocks, Maximus, Inc. (NYSE:MMS) beat Street estimates when it reported quarterly results earlier this morning.

Aéropostale (NYSE:ARO): Aeropostale, the adolescent clothing company whose shirts celebrate one of Wall Street's worst-ever years, is assigned an uninspiring Neutral at Mizuho. Investors have indeed lost their shirts in Aeropostale stock over the past 12 months; shares have slumped some 30.79%.

Arena Pharmaceuticals (NASDAQ:ARNA): WallachBeth begins the stock at a Buy, citing its potential in the obesity segment. The price objective is $9.

Kennametal (NYSE:KMT): Goldman Sachs starts Neutral-rated coverage on KMT.

Marlin Midstream Partners (NASDAQ:FISH): FISH is a fresh Buy with Wunderlich, whose target price is $20. Catalysts include the company's recurring fee-based business model.

Specialty Retailers: Mizuho assigns new Neutrals on Abercrombie & Fitch (NYSE:ANF), American Eagle Outfitters (NYSE:AEO), Bebe Stores (NASDAQ:BEBE), Chico's FAS (NYSE:CHS), Francesca's (NASDAQ:FRAN), Guess (NYSE:GES), L Brands (NYSE:LTD), Lululemon Athletica (NASDAQ:LULU), The Men's Wearhouse (NYSE:MW), Tilly's (NYSE:TLYS), and Zumiez (NASDAQ:ZUMZ). It begins Buys on Ann Inc. (NYSE:ANN) - long known as AnnTayor - Express (NYSE:EXPR), Pacific Sunwear (NASDAQ:PSUN), The Children's Place (NASDAQ:PLCE), The Gap (NYSE:GPS), and Urban Outfitters (NASDAQ:URBN).

Synageva Biopharma (NASDAQ:GEVA): Goldman gives the stock a Buy rating. Its objective is $72.

Twitter (NYSE:TWTR): Twitter, which yesterday posted its highest close since last week's IPO, is a new Neutral at UBS. Its price objective on Twitter is $45.

Vivus (NASDAQ:VVUS): WallachBeth has a Hold, and $11 objective, on diet drug stock Vivus. It says Qsymia sales are an ongoing issue.

Yelp Inc. (NYSE:YELP): The Internet stock is a new Neutral at Janney Capital.

(See also: Stock Upgrades: Ball Corporation About to Bounce and Stock Downgrades: Kohl's Takes Its Lumps)
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