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New Stock Coverage: Record Cold Got You Down? Botox Owner Allergan Turns Frowns Into Frozen Smiles

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

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The 12 Days of Christmas officially ended yesterday but, on Wall Street, Santa Claus left the building long ago. (And incidentally, newly confirmed Janet Yellen, not noted for being overly concerned about inflation, need only look at the skyrocketing price of seven swans-a-swimming to realize that economic black swans tend to arrive where you least expect them.) The Dow (INDEXDJX:.DJI) and S&P 500 Index (INDEXSP:.INX) each continued their iffy start to 2014, with the latter opening a year with three straight losses for the first time since 2005. Thus the champagne - or should that be Champaign? - remains stubbornly on ice as America shivers in a "Polar Vortex." Ironically, amid such bone-chilling temperatures, a heralded SolarCity (NASDAQ:SCTY) surged some 7.32% to finish at a fresh 52-week peak. It thus became an immediate beneficiary of the "Old Gray Lady". (That being the New York Times (NYSE:NYT), not Ms. Yellen.) Whatever the weather, Amazon.com's (NASDAQ:AMZN) Jeff Bezos is a man for all seasons. 60 Minutes, 24-hour delivery, 10,000-year clocks - it is all in a day's work for Time magazine's man of the millennium. Yesterday, however, it emerged that the Galapagos Islands - where Darwin took us back to the dawn of time - proved a bridge too far for the tech titan. After his escapade in Ecuador, he needed a "Sell" rating like a kidney stone. In other health news, and even as it is too cold to ski in much of America at the moment, we got news that Angela Merkel fractured her pelvis on the snowy slopes. After Janet's ascent yesterday, Ms. Merkel is now merely the world's second most powerful woman, but she does have the distinction of being the first German Chancellor born after World War Two. A conflict that concluded 69 years ago but claimed its latest victim only last Friday.

Regarding specific stocks that may move US markets today, Apollo Education Group (NASDAQ:APOL), Commercial Metals Company (NYSE:CMC), Micron Technology (NASDAQ:MU), and The Container Store (NYSE:TCS) are all due to release results.

Allergan (NYSE:AGN): Has this arctic tundra left you with a bad case of the winter blues? Assuming you can, turn that frozen frown upside down buy buying Botox maker Allergan. Its stock is initiated with an upbeat Outperform at RBC Capital Markets, whose price objective is $131. Capital allocation can act as a catalyst, the brokerage believes.

Carmike Cinemas (NASDAQ:CKEC): Carmike Cinemas stock is begun with a Buy at The Benchmark Company. Its target price is an unusually precise $33.01.

Coty Inc. (NYSE:COTY): The cosmetics company is covered with a Sector Perform at RBC Capital, whose objective is $16.

Impax Labs (NASDAQ:IPXL): Shares are launched at Sector Perform ($25 target), also at RBC Capital.

Jarden Corp. (NYSE:JAH): RBC Capital covers the company, whose brands include Crock-Pot and Mr. Coffee, at an Outperform.

Mylan Labs (NASDAQ:MYL): Citing the potential for 2015 EPIPEN upside, RBC resumes the stock at Outperform. Its price objective is $50.

Nimble Storage (NYSE:NMBL): Stifel starts the stock with a Buy and $50 target.

WD-40 Company (NASDAQ:WDFC): Shares are resumed with a Buy rating and $91 objective at boutique brokerage B. Riley & Co., which says double-digit EPS (Earnings Per Share) gains are a possibility.

WhiteWave Foods (NYSE:WWAV): Hold the skim milk - WhiteWave Foods, a dairy purveyor, is picked up with an "Overweight" at JP Morgan.

(See also: Stock Upgrades: Lululemon Athletica Is Out of the Downward Doghouse at Last and Stock Downgrades: Analyst Inflicts Assault and Battery on Energizer)
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No positions in stocks mentioned.
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