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New Stock Coverage: Don't Be Those '2 Broke Girls' - Buy CBS


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

CBS Corp (NYSE:CBS), home of 2 Broke Girls, yesterday made Mr. Market mighty rich. Shares surged 6.19% after the US Supreme Court ruled against Aereo's television streaming rights in a key copyright case. The "Tiffany Network" enjoys boffo ratings for The Big Bang Theory, even as its How I Met Your Mother recently ended its nine-year run.
Apologies to Prince for taking liberties with his lyrics, especially on the anniversary of Purple Rain, but stocks partied like it was 1959. That was where the S&P 500 (INDEXSP:.INX) ended after both it and Dow Industrials (INDEXDJX:.DJI) snapped a two-session slump. Marissa Mayer, her purple reign possibly under threat after another difficult week, saw Yahoo (NASDAQ:YHOO) slip 0.68% after hosting its annual shareholder meeting in the City by the Bay. A San Francisco summer was allegedly where Mark Twain endured his "coldest winter," and a polar vortex was predictably blamed for a punk GDP revision. Whatever, economists. As Bob Dylan -- whose money-making ability shames the Street -- once said, "You don't need a weatherman to know which way the wind blows." Among standout equities Apollo Education Group (NASDAQ:APOL) gained 6.15% and fared far better than did the poor Education Department, which became entity number 11,672,274 to wish it had never heard the word "Twitter" (NYSE:TWTR). And as referenced earlier, today's couch-potato headline analyst initiation enjoyed a fine time of it, quite literally making a killing at your expense.
Today's economic calendar is quite quiet, but expect earnings announcements out of Accenture (NYSE:ACN), ConAgra (NYSE:CAG), Lennar (NYSE:LEN), and Nike (NYSE:NKE).
Now let's turn to this morning's new stock coverage, a list that includes several Internet stocks as well as CBS Corp.

CBS Corp: Today's headline analyst initiation is begun with a bullish Buy at Jefferies.
CarMax (NYSE:KMX): KeyBanc Capital covers the company at a Buy. Its price objective is $62.
Harvard Bioscience (NASDAQ:HBIO): Janney has a Buy and $9 target price on the equity.
Internet Stocks: Barclays assigns Overweights on Facebook (NASDAQ:FB), Google (NASDAQ:GOOG), and Twitter, the last with a $46 objective on account of its advertising sales strength.
Media & Entertainment: Jefferies begins Buys on News Corp (NASDAQ:NWSA) ($22 target), Time Warner (NYSE:TWX) ($80), 21st Century Fox (NASDAQ:FOXA) ($43), Viacom (VIAB), and Walt Disney (NYSE:DIS) ($100).
Netflix (NASDAQ:NFLX): NFLX is a new Underweight at Barclays, whose target price is $420.
New York Times (NYSE:NYT): Jefferies has a Hold on the newspaper stock.
Turtle Beach (NASDAQ:HEAR): Shares are established at Outperform ($15 price objective) at Northland Capital, which says it is well-positioned to benefit from both the PlayStation 4 and Xbox One gaming consoles.

Also see:

Stock Upgrades: Zulily's Gains Won't Be Gone in a Flash
Stock Downgrades: Turbulence Ahead at United Continental
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