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New Stock Coverage: Will Yahoo Pass Today's Bar Exam?


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

Yahoo (NASDAQ:YHOO) CEO Marissa Mayer, who sensibly makes do with water during the day, recently bellied up to the bar after-hours accompanied by AOL Inc's (NSYE:AOL) Tim Armstrong. Will she be breaking open the champagne when the tech titan announces its earnings after today's closing bell? An analyst who this morning assigns the stock a lukewarm rating appears to think not. Many market sages say Yahoo will be punch drunk as it increasingly cuts ties with cash cow Alibaba, this as the Chinese Internet outfit prepares to go public. Indeed shares have fallen about 15% from 52-week peaks amid just such concerns.
One is the loneliest number? Not so much, even as a dating site pays big bucks to woo romantic couples. One week after a one-person outfit was the talk of the investment world, Dow Industrials (INDEXDJX:.DJI) increased 111 points to end back above 17,000. With both the present Pontiff and his predecessor more focused on the fútbol field, it was left to Goldman Sachs (NYSE:GS) to do "God's work," an infamous phrase that Lloyd Blankfein will never live down. The bank, which so spooked stock markets recently after its chief economist Jan Hatzius brought forward his Fed rate hike date, showed it is indeed a many-tentacled "great vampire squid" as the firm's chief strategist David Kostin boosted his S&P 500 (INDEXSP:.INX) target to send equities skyward. As a BRIC conference began in Brasilia, Goldman graduate Jim O'Neill -- "BRIC" coiner and mad Manchester United (NYSE:MANU) fan -- enjoyed a great day as the soccer side known as the "Red Devils" surged 4.84% after agreeing to a $1.3 billion kit deal With German giant Adidas (OTCMKTS:ADDYY), itself up 3.13%. Elsewhere eBay Inc. (NASDAQ:EBAY) dropped a devilish 0.66% on a downgrade. On the online auctioneer, you can currently buy an autographed photo of Diego Maradona taking on six opponents at the 1982 World Cup, a move eerily recreated -- alas, in vain -- by his countryman Mr. Messi at this year's just-concluded tournament. Mercadolibre (NASDAQ:MELI) is often called "the eBay of Latin America," but yesterday the Buenos Aires-based stock -- our Argentine World Cup portfolio pick -- easily outdid the original in advancing 1.02%.
Today in economics, May business inventories are out at 10:00 a.m. EDT. On the quarterly earnings front, blue-chip corporate quartet Goldman Sachs, Johnson and Johnson (NYSE:JNJ), JPMorgan (NYSE:JPM), and Intel (NASDAQ:INTC) all release results.

Now let's turn to this morning's new stock coverage, a list that includes a recent red-hot photo IPO in addition to Yahoo.

Ardelyx (NASDAQ:ARDX): Shares, which slumped 6.99% on Monday, are this morning initiated at an Outperform with Wedbush.
Eclipse Resources (NYSE:ECR): Goldman Sachs starts Buy-rated research. Its price objective is $31.
Epizyme (NASDAQ:EPZM): H.C. Wainwright has a Buy and $40 target price on a stock it says enjoys a preeminent position in the histone methyltransferase (HMT) arena.
GoPro (NASDAQ:GPRO): The action photography firm, which fell 5.15% yesterday, is currently rebounding 4.83%. This, after being assigned an upbeat Outperform and $60 objective at JMP Securities.
Kite Pharma (NASDAQ:KITE): KITS gets covered with a Buy and $31 price target at Stifel, which says it is the only American pure play on CAR-T technology.
Performance Sports Group (NYSE:PSG): Bank of America Merrill Lynch has a new Neutral on the equity.
Pinnacle Foods (NYSE:PF): PF is picked up with a Neutral at Goldman Sachs.
Plug Power (NASDAQ:PLUG): Shares are surging 15.07% as we speak after being assigned an Outperform and $8 objective at FBR Capital, which cites recent contract wins among other favorable factors.
Stratasys (NASDAQ:SSYS): The 3D printing powerhouse is covered at Outperform by Cowen, whose target is $150.
Western Digital (NASDAQ:WDC): Susquehanna starts the tech stock at a Positive.
Yahoo: Today's headline analyst initiation gets established at a "meh" Market Perform by FBR Capital, whose price objective is $37.
Also see:
Stock Upgrades: Twitter Still Scores Even After World Cup

Stock Downgrades: No Broth Stock for You -- Campbell Soup Shares a Tough Sell in Summer
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No positions in stocks mentioned.
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