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New Stock Coverage: Time to Wake Up and Smell the Turkish Coffee on DreamWorks Animation?


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

Miracles have occurred before in Istanbul - as a Liverpool fan, I still struggle to believe what I once witnessed in six mad minutes by the banks of the Bosporus - but Turkey's current economic angst may prove immune to even divine intervention. Liverpool is, of course, the birthplace of The Beatles yet even the Fab Four would likely be no match for the Fragile Five. Ongoing turmoil in a quintet of emerging markets sent stocks down for a sixth session in seven on a day Dow Industrials (INDEXDJX:.DJI) again dropped by triple digits. "Devil with a Blue Dress On" was released as a single in 1964, the same year John, Paul, George, and Ringo conquered America, and yesterday that just about summed up the hellish action in equities. Marissa Mayer's chosen hue matched her mood at an unloved Yahoo (NASDAQ:YHOO), whose 8.71% implosion made it the S&P 500?s (INDEXSP:.INX) poorest performer. This as Gap, Inc. (NYSE:GPS), whose blue dress almost brought down a presidency, ended lower even after scoring a broker boost. With stocks suddenly going for a song, Pete Seeger - who railed against the 1% as a lion in winter - extracted revenge on capitalism from beyond the grave. "Goodnight Irene," one of his best-known numbers, proved to be eerily on the money at Mondelez (NASDAQ:MDLZ), which tumbled 2.19%.

Today in economics, December 2013 pending home sales are expected to post a decline at 10:00 a.m. Eastern. On the corporate front, the single busiest session of peak earnings week is upon us. Expect earnings announcements out of Amazon (NASDAQ:AMZN), Blackstone (NYSE:BX), and Chipotle Mexican Grill (NYSE:CMG), among a multitude of others. Now let's turn to today's analyst initiations, a group that includes DreamWorks Animation (NASDAQ:DWA).

AEGON N.V. (NYSE:AEG): Berenberg has a Hold on the European financial stock.

Consumer Products: BTIG Research begins Buys on Anheuser-Busch InBev (NYSE:BUD), Avon Products (NYSE:AVP), Clorox (NYSE:CLX), Colgate-Palmolive (NYSE:CL), Estee Lauder (NYSE:EL), Molson Coors Brewing (NYSE:TAP), and key Dow component Procter & Gamble (NYSE:PG).

DreamWorks Animation: Shares are resumed with a decidedly lukewarm Neutral at B. Riley.

Halliburton (NYSE:HAL): Griffin Securities gives the oil services outfit a Buy rating and $62 price objective.

inContact (NASDAQ:SAAS): The stock is picked up with a Perform at Oppenheimer.

Spansion (NYSE:CODE): Morgan Stanley starts shares at an Overweight. Its target price is $19.

Vonage (NYSE:VG): Citing the company's impressive acquisition of cloud phone system Vocalocity, Northland Capital covers Vonage at Outperform. Its objective is $5.50.

See also:

Stock Upgrades: JetBlue Can Fly High

Stock Downgrades: It's 1997 All Over Again in Equities, but the Spice Girls Can't Save McCormick
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