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New Stock Coverage: American Airlines Flies High


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

In a week when Pharrell took his "Happy" talk to Saturday Night Live, investors ended up feeling sad and anxious. Not least the shareholders in Yahoo (NASDAQ:YHOO), which paid big bucks for the show and was dead money by Friday afternoon, falling 4.19% to a five-month trough. Even as Nasdaq (INDEXNASDAQ:.IXIC) ended at an eight-week low, the Dow (INDEXDJX:.DJI) fared far better. It was helped by a 3% increase in Caterpillar (NYSE:CAT), which rose despite being raked over the coals in CongressGeneral Motors (NYSE:GM), which also endured a tough time on Capitol Hill, saw its stock prove similarly resilient. Tesla Motors (NASDAQ:TSLA) was less fortunate, tumbling 5.85% on Friday to officially enter bear market territory. Its CEO, who has already spent an inordinate amount of time putting out fires, unwisely opted to opine about Burning Man and subsequently saw his stock cool off considerably. And Facebook (NASDAQ:FB), which looks literally like a dinosaur in the eyes of the young demographic it covets, lost ground for a fourth straight week.
This afternoon in economic data, consumer credit for February is expected to expand from the prior month's pace at 3:00 p.m. EDT. It's quite a quiet session for quarterly earnings announcements, but Alcoa (NYSE:AA) unofficially ushers in first-quarter reporting season when it releases results after the close of trading tomorrow.
Achaogen (NASDAQ:AKAO): Credit Suisse covers the company at Outperform, assigning it a target price of $22. Needham (Buy and $21 target) is equally upbeat amid high hopes for the company's principal pipeline product plazomicin to treat carbapenem-resistant enterobacteriaceae- (CRE)-related infections.
American Airlines (NASDAQ:AAL): Shares get begun with a Buy at Goldman Sachs, whose price objective is $46.
FireEye (NASDAQ:FEYE): FEYE is a fresh Outperform at FBN Securities. The price target is $65.
IRSA Investments (NYSE:IRS): Morgan Stanley starts with stock with an Overweight rating and $16 target.
Oshkosh Corp. (NYSE:OSK): OSK is a new Neutral ($65 objective) at Citigroup.
Trulia (NYSE:TRLA): Barclays begins research at Equal Weight with a $38 price target.

Also see:

Stock Upgrades: Rocket Fuel Set to Soar

Stock Downgrades:
American Eagle Laid Low
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No positions in stocks mentioned.
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