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New Stock Coverage: Much Like Marissa Mayer, Bed Bath & Beyond Needs a Nap


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

Yesterday it emerged that Marissa Mayer fell asleep at a most inopportune time, but Bed Bath & Beyond (NASDAQ:BBBY) apparently isn't seeing much money stuffed in its mattresses as a result. Shares of the specialty retailer, having tumbled 12.87% even in the past year's stellar market, are again moving lower this morning after being slapped with an unusual "Sell" rating. Bed Bath & Beyond is due to release first-quarter earnings after tomorrow's closing bell.
Regarding yesterday's equity action, the yawns of Yahoo's (NASDAQ:YHOO) CEO were clearly contagious as on the seventh day, stocks rested. The Dow (INDEXDJX:.DJI) and S&P 500 (INDEXSP:.INX) each snapped six-session winning streaks amid more anemic trading activity. This despite June's Markit flash index fittingly revealing that US manufacturing activity hit its highest since May 2010, the flash-crash monthGoogle's (NASDAQ:GOOGdoodle mocked lost work productivity during the World Cup, but its stock was a highlight of an otherwise somnambulant day. Shares gained 1.54% on high hopes for a $555 million acquisition by its Nest Labs. Buffalo Wild Wings (NASDAQ:BWLD), another big World Cup beneficiary, wasn't about to fly the coop with a 5.95% advance to fresh bests. Elsewhere, American Apparel (NYSEMKT:APPcontinued to be carried out on the wings of a Dov and tumbled 2.47%. President Obama, who never did give up his beloved BlackBerry (NASDAQ:BBRY), saw that suddenly-surging tech titan jump another 3.16% on a broker boost. (For good measure, his trip to the burrito bowl sent Chipotle Mexican Grill (NYSE:CMG) up 1.21%.) And Lands' End (NASDAQ:LE) lost 3.78%. Wait, is it Lands' End or Land's End? Getting grammar right can be tough, as a journalism school can freshly attest.
Today in economics analysts expect increases in May new-home sales and June consumer confidence, each released at 10:00 a.m. EDT. On the earnings front, Apogee Enterprises (NASDAQ:APOG), Carnival (NYSE:CCL), and Walgreen (NYSE:WAG) all report results.
Now let's turn to this morning's new stock coverage, a list that includes several other specialty retailers besides Bed Bath & Beyond.
AerCap (NYSE:AER): AER is assigned a Buy at UBS.
Bed Bath & Beyond: Morgan Stanley starts the stock at Underweight.
Charles River Labs (NYSE:CRL): Shares are a new Neutral with SunTrust.
Chimerix (NASDAQ:CMRX): Brean Capital covers the company with a Buy recommendation and $33 target price amid high hopes for its phase 3 trial to treat cytomegalovirus (CMV) prophylaxis in stem-cell transplant patients.
LeMaitre Vascular (NASDAQ:LMAT): LMAT gets launched with a Buy and $11 price objective at Stifel, which cites its deep management bench and solid top-line growth.
Retail Stocks: Morgan Stanley's new coverage includes Best Buy (NYSE:BBY) (Overweight), Costco (NASDAQ:COST) (Overweight), PetSmart (NASDAQ:PETM) (Underweight), Target (NYSE:TGT) (Underweight), Wal-Mart (NYSE: WMT) (Overweight), and Pottery Barn owner Williams-Sonoma (NYSE:WSM) (Overweight).
Ruckus Wireless (NYSE:RKUS): The stock is picked up at Market Perform with Wells Fargo.
Tower Semiconductor (NASDAQ:TSEM): Imperial Capital covers the company at Outperform ($12 target) on account of its ever increasing annual revenue.
Also see:

Stock Downgrades: Dr Pepper Snapple Not Worth Its Salt

Stock Upgrades: Wisconsin Energy Brings in Milwaukee Bucks
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No positions in stocks mentioned.
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