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New Stock Coverage: Advance Auto Parts Hits a Pothole


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

Reid and Reed each ensured that equities ended up, although investors still shouldn't take anything as read. "Optimistic" comments from the Senate Majority Leader, allied to an S&P 500 Index (INDEXSP:.INX)-best 7.82% surge in Mr. Hastings' Netflix (NASDAQ:NFLX), both boosted bourses, even as much work remains to be done in DC. Amid belated bridge-building in Washington, Chicago Bridge & Iron (NYSE:CBI) jumped 2.04% to an historic high, though the fact that it hails from Holland is an indication our political parties must go Dutch to dig us out of this debt mess.

Sandwich shop Potbelly (NASDAQ:PBPB), which surged 119.79% on its IPO of October 4 -- the same day that erstwhile Chicago pol President Obama went out for a hoagie -- is actually from the Windy City. Alas, yesterday its subs ended substantially underwater, falling 5.75% after a diss by Barron's. And, as a new study showed half of all Americans plan to retire at 66, Robert Shiller, aged 67, joined 67-year-old Janet Yellen in showing that you are never too old to reconsider.

There isn't any top-tier economic data due today, but third-quarter earnings season starts in earnest with Charles Schwab (NYSE:SCHW), Citigroup (NYSE:C), Coca-Cola (NYSE:KO), Intel (NASDAQ:INTC), Johnson & Johnson (NYSE:JNJ), Mosaic (NYSE:MOS), and Yahoo (NASDAQ:YHOO) all due to report results.

Auto Parts: Advance Auto Parts (NYSE:AAP) is initiated at a bearish Underperform with Wedbush, which has a new Neutral on AutoZone (NYSE:AZO) and an upbeat Outperform on O'Reilly Automotive (NASDAQ:ORLY).

CBS Corp (NYSE:CBS): Moffett Nathanson assigns a new Neutral on the broadcaster.

ClubCorp (NYSE:MYCC): The stock gets begun with a Buy at Goldman Sachs.

FireEye (NASDAQ:FEYE): UBS has a new Neutral on the application software name.

Forum Energy Technologies (NYSE:FET): FET is a fresh Outperform at Robert W. Baird, which assigns it a price objective of $35. Good growth prospects in horizontal drilling and hydraulic fracturing bode well for the firm, the broker believes.

Higher One Holdings (NYSE:ONE): Compass Point has a Sell rating, and $6.50 target price, on the stock amid ongoing pressure on fees.

Kosmos Energy (NYSE:KOS): KOS is covered with an Overweight at HSBC Securities. Its objective is $13.40.

L Brands (NYSE:LTD): KeyBanc has a Hold on the owner of Victoria's Secret.

Marvell (NASDAQ:MRVL): The tech stock is an Outperform at Raymond James.

Netflix (NASDAQ:NFLX): NFLX is a new Neutral at Moffett Nathanson.

Qualcomm (NASDAQ:QCOM): Shares are begun with a Buy and $80 objective at Stifel, which cites its impressive market share in the 4G and LTE arena.

Redwood Trust (NYSE:RWT): UBS resumes Buy-rated research on RWT.

Rocket Fuel (NASDAQ:FUEL): The digital advertising outfit is established with a Perform at BMO Capital, whose target price is $65.

Tenet Healthcare (NYSE:THC): Barclays begins the stock at Overweight. Its price target is $55.

(See also: Stock Upgrades: Xbox Marks the Sweet Spot for Microsoft and Stock Downgrades: Default Lies With Dassault.)
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