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New Stock Coverage: Janitors' Kids Help New Oriental Education Clean Up


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

A startling study recently revealed that the children of Chinese janitors outscore the offspring of American executives. It's this importance on learning that has seen Beijing-based New Oriental Education & Technology (NYSE:EDU) return investors a tidy 23.81% over the past 12 months. The firm, founded in 1993, provides test preparation classes for entrance exams. A key upcoming date for the diary will be May 16, when its annual general meeting occurs.
Yesterday, slow and steady won the Wall Street race, with Electric Avenue being left far behind by the bike lane. Tesla Motors (NASDAQ:TSLA) tumbled 11.30% in its worst day of the year, even as Barclays (NYSE:BCS), the British backer of a transport mode that's now also putting its pedal to the metal in America, showed that success is cyclical by surging 7.39%. Among other equities on the move, Fossil (NASDAQ:FOSL) rode a broker boost to gain 2.13% (give its CEO a pay raise, please). Much as Monica wants to "bury the blue dress" from The Gap (NYSE:GPS), that stock is suddenly back in fashion with an 8.56% after-hours advance. The clothing company is particularly popular with Democrat presidents, but, in the interest of being "fair and balanced," I must also add that Twenty-First Century Fox (NASDAQ:FOXA) jumped 6.54%.
Today's quarterly earning announcements include Alcatel-Lucent (NYSE:ALU), Echostar (NASDAQ:SATS), Ralph Lauren (NYSE:RL), and Telefónica (NYSE:TEF).
Now let's turn to this morning's new stock coverage, a list that includes a footwear firm and European utility in addition to New Oriental Education.

Avago Technologies (NASDAQ:AVGO): Shares are reinstated with an Overweight by Barclays, whose price objective is $85.
Callon Petroleum (NYSE:CPE): Brean Capital begins Buy-rated research with a $12 target price amid increased 2014 production expectations.
Deckers Outdoor (NYSE:DECK): The Ugg boots owner, recently back in favor, is initiated with an Outperform at Macquarie.
E.ON AG (OTCMKTS:EONGY): Sanford Bernstein starts the German energy giant at Outperform.
New Oriental Education & Technology: Our headline stock is assigned an upbeat Overweight at JPMorgan.
New Source Energy (NSLP): NSLP is a new Buy with Wunderlich, whose target is $25. The company's competitive advantage is cited as a stock-price catalyst.
Momenta Pharmaceuticals (NASDAQ:MNTA): Shares are initiated with a Buy and $24 objective, which hails the firm's generic blood-thinner.

Also see:

Stock Upgrades: Barclays Tops the Premier League

Stock Downgrades: Rocket Fuel Suffers Failure to Launch
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No positions in stocks mentioned.
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