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New Stock Coverage: Can Empire State Realty Trust Be King Kong?


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

US markets reached fresh peaks, even in the week New York voted to replace a billionaire buddy of Wall Street with a left-leaning politician as its mayor. (Truth be told, it was always a stretch to suggest that the 6 foot 5 Bill de Blasio would cause investors to short stocks.) Mr. de Blasio, evidently quite friendly with the Sandinistas, must find it funny that the 204,000 jobs the US added in October was the exact same number of followers that a dead South American socialist dictator had on Twitter (NYSE:TWTR). Ah, Twitter. It surged 60% in two sessions. Even as the S&P 500 Index (INDEXSP:.INX) advanced for a fifth straight week, BlackBerry (NASDAQ:BBRY) slumped 16% after firing its CEO in a move that raised some eyebrows. Johnson & Johnson (NYSEJNJ) said it would pay $2.2 billion to settle probes regarding its drug marketing, and Mrs. Johnson beat Mr. Johnson in a Maine election. And, a little late for Halloween perhaps, but there was indeed a Haunting in Connecticut as Stamford-based hedge fund heavyweight SAC Capital Advisors pleaded guilty to insider trading.

There is no economic data due today that may move US markets, and both banks and the bond markets are closed in observance of Veterans Day. Regarding specific stocks, expect quarterly earnings announcements out of Arkansas Best (NASDAQ:ABFS), Cooper Tire (NYSE:CTB), Hologic (NASDAQ:HOLX), GSV Capital (NASDAQ:GSVC), News Corp (NASDAQ:NWSA), Nordic American Tanker (NYSE:NAT), Rackspace (NYSE:RAX), and Sotheby's (NYSE:BID).

Antero Resources (NYSE:AR): Deutsche Bank has a Hold on the oil and gas outfit.

Burlington Stores (NYSE:BURL): Goldman Sachs starts a new Neutral on the Coat Factory owner although JPMorgan (Overweight) is more upbeat.

Clothing Companies: Something for everyone at Goldman, which has a Sell on Ann Inc. (NYSE:ANN), long known as AnnTaylor, a Neutral on Chico's FAS (NYSE:CHS), and a Buy on Express Inc. (NYSE:EXPR). For Express, Goldman sees "outsized" growth.

Discovery Labs (NASDAQ:DSCO): Piper Jaffray picks up the stock at Overweight.

Empire State Realty Trust (NYSE:ESRT): Empire State Realty Trust, a recent initial public offering, is a new Neutral at Goldman Sachs, but Bank of America-Merrill Lynch (Buy) is more bullish. New York's iconic Empire State Building is among the portfolio of properties owned by Empire State Realty Trust.

Franklin Resources (NYSE:BEN): RBC Capital has a fresh Sector Perform on the stock.

Jarden (NYSE:JAH): The consumer products company, whose brands include Mr. Coffee, is a new Outperform at Credit Suisse.

Mazor Robotics (NASDAQ:MZOR): Israel-based Mazor Robotics is resumed with an Overweight at Barclays. Mazor Robotics is involved in 3D surgery, among other cutting-edge endeavors.

Movado Group (NYSE:MOV): The watchmaker is a new Hold at KeyBanc.

New York Times (NYSE:NYT): Evercore has an Equal Weight on the newspaper name.

Twitter (NYSE:TWTR): Twitter was a licence to make money last week, but the company may be about to suffer a severe case of the Mondays. Sterne Agee starts Twitter with an uninspiring Neutral rating this morning.

Veeva Systems (NYSE:VEEV): Deutsche Bank begins Buy-rated research on the application software outfit.

(See also: Stock Upgrades: BT Group Will Give Your Portfolio a Kick in the Grass and Stock Downgrades: Manic Monday for Prozac Maker Eli Lilly)
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