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New Stock Coverage: Forget Google Glass -- Is FireEye Worth Another Look?


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

Don't get me wrong, I am absolutely delighted that the insanely ubiquitous Lena Dunham is finally out of my face. (If only for a few months -- the 27-year-old will soon release a book of "life lessons," for which she was paid a preposterous $3.7 million. Not that journalists ever get jealous or anything.) I do worry, however, about what it means for the market that her HBO spot at 10:00 p.m. on Sundays will be handed over to a show called Silicon Valley next week. Pop culture is an infallible contrary indicator -- witness the crashes that occurred concurrent with everything from Wall Street (1987) to Boiler Room (2000). Right on cue, yesterday many of the Valley's most famous denizens endured a torrid time of it. The trail of tears included Twitter (NYSE:TWTR), which tumbled 4.22%; LinkedIn (NYSE:LNKD), a 4.36% loser; and Facebook's (NASDAQ:FB) 4.67% fall. Dow Industrials (INDEXDJX:.DJI), although it didn't endure as dire a day as did the tech-heavy Nasdaq (INDEXNASDAQ:.IXIC), still slipped for a second straight session. This amid geopolitical concerns after the G8 became the G7. Seven? You sure? Having the soul -- if President Putin will forgive the phrase -- of a poet, math was never my strong suit. However, even Angela Merkel would agree with me that the top table now contains nine, nein? The Wolf of Wall Street is cursing a sheep shortage in Ireland, but Lions Gate (NYSE:LGF), exiting March unlike any lamb I've ever known, advanced 3.84% after its weekend box-office business diverged dramatically from more pessimistic projections. An unloved Bank of America (NYSE:BAC) lost as it emerged that ever fewer of us are visiting our local branch. Clothing companies Christopher & Banks (NYSE:CBK), up 5.19% even amid Monday's red ink, and Jos. A Bank (NASDAQ:JOSB), having jumped 58.72% in a year, may be a better bet.
Today in economics, new home sales for February and March consumer confidence are each out at 10:00 a.m. Eastern. In earnings action, Carnival Corp (NYSE:CCL), Steelcase (NYSE:SCS), and Walgreen (NYSE:WAG) all release results.
Ariad Pharmaceuticals (NASDAQ:ARIA): Shares, which slid 3.06% in Monday's terrible health-care tape, are rebounding 1.97% as I write, this on the back of a bullish Buy initiation at HC Wainwright. Upcoming approvals and reimbursement in Europe and Japan augur well in the broker's estimation, and the price objective is $14.
Computer Sciences (NYSE:CSC): SunTrust has a new Neutral on the tech name. Its target price is $68.
Convergys (NYSE:CVG): CVG is covered with a Buy at SunTrust, whose objective is $26.
Dyax Corp. (NASDAQ:DYAX): The stock is an Outperform ($15 target) at RBC Capital, which cites its recurring royalties and antibody expertise.
FireEye (NASDAQ:FEYE): Google (NASDAQ:GOOGGlassholes are in the news again, but was yesterday's 8.84% fall in FireEye a blink-and-you-missed-it event? The application software outfit is trading up 1.97% this morning, despite being established with an iffy In-Line at Imperial Capital. Its price objective is $68.
NPS Pharmaceuticals (NASDAQ:NPSP): Goldman Sachs starts the stock at a Buy.
Office REITs: MLV & Co resumes research on Real Estate Investment Trusts. It has a Hold on Highwoods Properties (NYSE:HIW) but begins Buys on Brandywine Realty (NYSE:BDN) and Washington REIT (NYSE:WRE), among others.
Sapient (NASDAQ:SAPE): Shares are a Buy at SunTrust, whose target is $22.
Spirit Airlines (NASDAQ:SAVE): CRT Capital covers the company at a Buy.
Varonis Systems (NASDAQ:VRNS): The stock is an Outperform at RBC Capital, which cites prospects for market share gains.

Also see:

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Stock Downgrades: JPMorgan Drives the Corner Store Round the Bend
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