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New Stock Coverage: Happiness Is a Warm Gun at Urban Outfitters


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

Shares were in mourning after once more failing to find love in the afternoon. For an ominous fourth straight session, a strong start from the S&P 500 Index (INDEXSP:.INX) faded as the day progressed, leaving it essentially unchanged at the end. The sluggish slowing came despite an unexpected increase in January new-home sales, which hit their highest level since July 2008. (That month 200,000 breathless Berliners assembled to see candidate Obama by the Brandenburg Gate. My, how have the mighty fallen.) owner IAC/InterActiveCorp (NASDAQ:IACI), up another 1.24%, scored a fresh best. This, as the original Dating Game host sadly passed away. ("I've never been out on a date before. What do two kids like us do on a date?" asked one participant in 1972. Name of Michael Jackson, who never did quite get the hang of it.) Today's Google (NASDAQ:GOOG) doodle honors the 112th birthday of The Grapes of Wrath author, but there was no need for vintage whine over at Robert Mondavi owner Constellation Brands (NYSE:STZ). Its shares, now up 83.14% in the past 12 months alone, reached another record. (Must be all those orders from the Vatican.) Rio's Carnival starts tomorrow, but yesterday Brazil was in no mood to party and promptly sent Adidas (OTCMKTS:ADDYY) stock skidding 1.02%. Every adolescent male in Europe learns to spell the German athletic apparel giant by using the mnemonic "All Day I Dream About" well -- you know. The company just learned to its considerable cost that soccer, not sex, is what sells on the Copacabana. Being too sexy for its shirt is apparently never an issue at Abercrombie (NYSE:ANF), even in this brutally cold winter. Yesterday its scantily-clad stock surged 11.25%.

Today at 10:00 a.m. Eastern Janet Yellen speaks before the Senate Banking Committee, restarting testimony that was snowed off on February 13. The pace of quarterly earnings announcements picks up again, with retailers coming increasingly to the fore. Best Buy (NYSE:BBY), Gap Inc. (NYSE:GPS), Sears Holdings (NASDAQ:SHLD), and Ross Stores (NASDAQ:ROST) all release results.

Allison Transmission (ALSN): Morgan Stanley starts the stock at Equal Weight.

Cara Therapeutics (NASDAQ:CARA): Shares are a new Buy at Needham, whose target price is $27. Catalysts include its advanced IV and oral formulations of CR845, a kappa opioid receptor agonist.

EP Energy (NYSE:EPE): Citigroup has a fresh Buy on the equity, which yesterday fell 5.76%.

KaloBios Pharmaceuticals (NASDAQ:KBIO): KBIO is covered at Outperform at JMP Securities, whose price objective is $8.

Ross Stores (NASDAQ:ROST): Wedbush resumes Outperform-rated research on ROSS.

Tech Stocks: Dow (INDEXDJX:.DJI) member Microsoft (NASDAQ:MSFT) is a new Neutral, which assigns Oracle (NYSE:ORCL) a Buy. Its respective objectives are $39 and $48.

Urban Outfitters (NASDAQ:URBN): The retailer based in the City of Brotherly Love, which once took heat for its firearm-inspired Christmas ornaments, is initiated at an upbeat Outperform with Wedbush.

Veeco Instruments (NASDAQ:VECO): Piper Jaffray picks up the tech name at a Neutral. Its target is $42.

Verizon (NYSE:VZ): The blue chip telecom titan is begun with an Overweight at Morgan Stanley, whose objective is $52.

Zumiez (NASDAQ:ZUMZ): Wedbush has a new Neutral on the equity.

See also:

Stock Upgrades: Sony, Big Back in the '70s, Aims to Reclaim Its American Hustle (MVPRO article)

Stock Downgrades: Slap in the North Face for VF Corp (MVPRO article)
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