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New Stock Coverage: Green Is the New Black for Netflix

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

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Shareholders of a certain age, still scarred by taking a shower with Janet Leigh, must have feared they'd take a bath with Janet Yellen, especially as markets have been in free-fall of late. As it turned out, investors needn't have worried, with the feel good factor inspired by the first female to be nominated as Fed head helping keep S&P 500 (INDEXSP:.INX) equities above water for once. Proposing her for a four-year term, President Obama lavished praise and said, "She's tough -- not just because she's from Brooklyn." (It's nice to know pay-for-performance exists in at least one New York borough, because yesterday it certainly didn't over in the Bronx.)

Just in time for John Lennon's birthday, Starbucks (NASDAQ:SBUX) went all touchy-feely on us in urging America to "Come Together," to quote a classic Beatles tune. Strangely, its stock still fell 0.36% even in an up market, perhaps because the country recoiled from receiving morality lectures from a firm freshly accused of theft. Fed meeting minutes revealed its September taper tantrum to be a "close call," which promptly sent AT&T (NYSE:T) up a Dow (INDEXDJX:.DJI)-best 1.93%. Ah, the endlessly innovative telephone industry. In Azerbaijan, there is now even a mobile-phone app that releases election results one day before the vote takes place.

Today's quarterly earnings announcements are due to include Farmer Brothers (NASDAQ:FARM), Lindsay Corporation (NYSE:LNN), Micron Technology(NASDAQ:MU), and Safeway (NYSE:SWY).

Artisan Partners (NYSE:APAM): Jefferies begins the money manager at a Buy and assigns it a target price of $61.

Boeing (NYSE:BA): Citing strong industry fundamentals, Canaccord Genuity covers the Dow (INDEXDJX:.DJI) component at a Buy.

Cubist Pharmaceuticals (NASDAQ:CBST): The stock is initiated with an Outperform and $81 price objective at Oppenheimer, which says that the heightened prevalence of multiple-drug-resistant (MDR) infections can act as a catalyst.

Dresser-Rand (NYSE:DRC): William Blair picks up the stock at Perform.

FireEye (NASDAQ:FEYE): Cowen covers the application software outfit at Outperform. Its objective is $50.

First Niagara (NASDAQ:FNFG): RBC Capital resumes its fellow financial firm at Outperform.

Hecla Mining (NYSE:HL): The commodity company is covered with a Buy rating and $4 target at Roth Capital.

Kirby Corporation (NYSE:KEX): Shares are a fresh Outperform at FBR Capital, whose price objective is $105 amid good gains in US oil and gas production.

LaSalle Hotel (NYSE:LHO): Morgan Stanley launches the accommodation outfit at Underweight.

Netflix (NASDAQ:NFLX): The movie-streaming service may see more green ink today after being begun with a bullish Buy at Needham, which cites global broadband growth. It is already the top S&P 500 (INDEXSP:.INX) stock of 2013, helped by the success of its jailhouse drama Orange Is the New Black. (For related reading, here are other ways to play prison.)

Royal Gold (NASDAQ:RGLD): Barclays begins the commodity company at Overweight.

Spirit Aerosystems (NYSE:SPR): Canaccord Genuity has a Hold on SPR.

WisdomTree (NASDAQ:WETF): The financial firm is initiated with a Buy at Jefferies.

(See also: Stock Upgrades: PC Era Over? Hewlett-Packard Didn't Get the Memo and Stock Downgrades: Nobody Can Console Sony.)
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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