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New Stock Coverage: Ruby Tuesday Neither Day Late Nor Dollar Short


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

You've got to feel for Greece. As soon as Athens improbably gets its act together, America implodes. Thus did the Dow (INDEXDJX:.DJI), now down in 11 of its past 13 sessions, drop by triple digits once more. It was the rare stock that made money talk, but Eli Lilly(NYSE:LLY) edged up 0.84% as the drug-maker proved Listening to Prozac can sometimes be more profitable. (Though the company will be seriously depressed to see it assigned only a lukewarm 'Neutral' analyst initiation this morning.) Lilly has long been known for its industry-leading diabetes franchise, so was presumably pleased to see Krispy Kreme (NYSE:KKD) similarly buck a bad day by gaining 1.84%. (Something to do with Obamacare closing the doughnut hole, apparently.)

Elsewhere an unloved Jamba (NASDAQ:JMBA) Juice imploded 18.78%. They say never confuse a company with its stock but, as my local branch of the smoothie store was cited for 55 health violations in May, I avoid both equally. Such restaurant ratings are a legacy of Michael Bloomberg's nanny state, but New York's billionaire mayor is having less success in banning horrifically calorific sugary sodas and their ilk. At least if yesterday's S&P 500 Index(INDEXSP:.INX)-best 3.76% surge in Monster Beverage (NASDAQ:MNST) is any indication.

This afternoon at 2:00 p.m. Eastern, we will get meeting minutes to the Fed's much-debated September 17-18 policy confab, at which it unexpectedly opted to keep the monetary spigot intact. In corporate earnings action, Costco (NASDAQ:COST), Del Frisco's Restaurant Group (NASDAQ:DFRG), Family Dollar (NYSE:FDO), and Fastenal (NASDAQ:FAST) are all due to release results.

Allergan (NYSE:AGN): The Botox maker is begun with an upbeat Outperform at Credit Suisse.

Arrow Electronics (NYSE:ARW): SunTrust Robinson Humphrey has a Buy on ARW.

Brunswick (NYSE:BC): Citigroup picks up the bowling and boating behemoth at a Buy.

Car Rental Companies: Avis Budget (NASDAQ:CAR) and Hertz (NYSE:HTZ) are each assigned an Overweight at JPMorgan.

Chicago Bridge & Iron (NYSE:CBI): Jefferies covers CBI at a Buy.

Coach, Inc. (NYSE:COH): The luxury outfit is picked up with a Neutral at Piper Jaffray.

Drug Stocks: Credit Suisse has new Neutrals on Eli Lilly (NYSE:LLY), Forest Labs (NYSE:FRX), and Dow member Merck (NYSE:MRK). It begins Outperforms on both Bristol-Myers (NYSE:BMY) and Dow component Pfizer (NYSE:PFE).

ExOne (NASDAQ:XONE): Shares are trading higher this morning after being initiated with a Buy at Janney, whose price objective is $70.

Goodrich Petroleum (NYSE:GDP): GDP gets an In-line and $27 target price at Imperial Capital, which would wait for a more compelling entry point before buying.

Hancock Holding (NASDAQ:HBHC): Bank of America-Merrill Lynch launches the stock at Underperform.

Ruby Tuesday (NYSE:RT): The company is assigned a Buy recommendation and $10 target at B. Riley & Co., which has high hopes for the company's comparatively fresh management team.

Tidewater (NYSE:TDW): Shares are resumed with a Outperform at Cowen amid increasing offshore oil and gas production. Its price objective, previously $63, increases to $70.

(See also: Stock Upgrades: Michael Kors Makes a Killing and Stock Downgrades: K12 Inc. Goes Dunce Cap in Hand.)
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