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New Stock Coverage: T-Mobile Is Pretty in Pink


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

Pink-skirted Canadian Carly Foulkes, the onetime mouthpiece for T-Mobile US (NYSE:TMUS), was sadly given the pink slip, but her remaining stock options could be in the pink today. This as the wireless outfit is begun with a bullish buy rating. The wireless firm was recently sued by the Federal Trade Commission over unauthorized charges, an accusation that the company disputes.
While Wall Street was vacationing on Friday, our hardworking European cousins showed that the stock market's extended holiday from history will one day say it's "goodnight Vienna." Austria owned Erste Group Bank (OTCMKTS:EBKDY), twice downgraded this morning, fell 15.83% on July 4 after issuing an annual profit warning. In 1931, the collapse of the country's Creditanstalt consolidated the Great Depression's grip and helped sweep a pathetically poor Austrian painter to power in Germany. And 100 years ago this very month, the assassination of Austria's Archduke Franz Ferdinand set off World War One. All are reminders from far foreign lands that the Dow (INDEXDJX:.DJI) cannot keep on rising inexorably, and bull markets often end amid initially ignored events that unfold oceans away. Among equities on the move yesterday, Facebook (NASDAQ:FB) fell 1.51% after being blamed for divorce even as JDate and ChristianMingle owner Spark Networks (NYSEMKT:LOV) nosedived 5.46% after a recent board reshuffle changed the company's relationship status to "it's complicated." The small-cap Russell 2000 (INDEXRUSSELL:RUT) imploded 1.8% in its single worst showing since April, while Walmart (NYSE:WMT) -- on the day it was voted the planet Earth's biggest corporation -- advanced 0.42% after incongruously claiming good things come in small packages. Also bucking a bad tape in this, our summer of the shark, was Shamu's SeaWorld (NYSE:SEAS). It gained 1.54% on a broker boost. Meanwhile, over at JPMorgan (NYSE:JPM), a mighty whale is ominously starting to stir again.
Today in economics, May consumer credit is expected to contract from April's pace at 3:00 p.m. EDT. On the earnings front, Alcoa (NYSE:AA) unofficially ushers in second-quarter reporting season when it releases results after the close.
Now let's turn to this morning's new stock coverage, a list that includes both beverage and insurance equities in addition to T-Mobile US.

Applied Materials (NASDAQ:AMAT): Piper Jaffray picks up the stock with an upbeat Overweight.
Aspen Aerogels (NYSE:ASPN): Shares are a new Neutral at Robert W. Baird, whose price objective is $11. Market share gains are somewhat offset by a fair current valuation.
Citigroup (NYSE:C): Keefe Bruyette begins its fellow financial firm at Perform. Its target price is $52.
Heineken (OTCMKTS:HEINY): The Dutch brewing behemoth gets covered with a Buy at Kepler.
Insurance Stocks: Drexel Hamilton has Buys on AFLAC (NYSE:AFL), MetLife (NYSE:MET), and Prudential (NYSE:PRU).
Intuitive Surgical (NASDAQ:ISRG): BTIG Research resumes the stock at a Neutral.
Kite Realty (NYSE:KRG): Shares are assigned a Market Perform with Wells Fargo.
Medical Device MakersBoston Scientific (NYSE:BSX) and St. Jude Medical (NYSE:STJ) are both begun with Buys at CRT Capital.
Memorial Resource Development (NASDAQ:MRD): Bank of America Merrill Lynch launches Buy-rated research.
T-Mobile US: Today's headline analyst initiation is established with an upbeat Outperform by BMO Capital Markets. Its objective is $40.
Waddell & Reed (NYSE:WDR): William Blair has a fresh Outperform on the financial outfit.
Xerox (NYSE:XRX): What a difference one week makes. The photocopy king, cut only seven days ago, is this morning established with an optimistic Overweight at Morgan Stanley.

Also see:
Stock Upgrades: Guess Goes Back to the Future

Stock Downgrades: Horsehead Holding Needs a Sugar Daddy, Not the Godfather
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No positions in stocks mentioned.
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