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New Stock Coverage: Buy Workday on Jobs Friday?

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

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Eight decades to the day after Prohibition's repeal, the hangover in US stock markets extended into a fifth straight session. The Dow's (INDEXDJX:.DJI) steady drop from recent records is enough to turn even the most abstemious sort to drink. Perhaps a vintage Burgundy from Costco, although I couldn't swear on the Bible that they have it in stock. Its stock slumped 1.64% in a terrible tape for retailers. Some equities did buck the red ink. There was love in the air for Southwest Airlines (NYSE:LUV), up 0.56% after buying takeoff slots at La Guardia Airport. That firm was famously founded on a cocktail napkin by Wild Turkey bourbon-drinking Herb Kelleher, who won't care that the market has ended down in every single session since Thanksgiving. Netflix (NASDAQ:NFLX), already the top S&P 500 (INDEXSP:.INX) stock in 2013, advanced another 0.50% after announcing its House of Cards will come back on February 14. Matrimonial titan Tiffany (NYSE:TIF), where every day is Valentine's Day, gained 1.26% to an all-time high on a broker boost. Firearms firm Smith & Wesson (NASDAQ:SWHC), another fan of shotgun weddings, rode similarly upbeat analyst action to surge some 3.28%. And Nelson Mandela, who was born 1918 - four months before "the guns of August" finally fell silent - bid us goodbye.

In terms of economic events that may move US markets today, analysts expect an increase in the preliminary Reuters/University of Michigan consumer confidence figure for December at 9:55 a.m. Eastern. Regarding specific stocks, American Eagle Outfitters (NYSE:AEO), Bank of Nova Scotia (NYSE:BNS), Big Lots (NYSE:BIG), Ferrellgas Partners (NYSE:FGP), and Sears Hometown and Outlet Stores (NASDAQ:SHOS) are all due to release results.

Allergan (NYSE:AGN): BTIG Research resumes Buy-rated research on the maker of Botox.

Broadsoft (NASDAQ:BSFT): Shares are a new Market Perform at Northland Capital, whose price objective is $32.

Diamondback Energy (NASDAQ:FANG): Brean Capital covers the company at a Buy.

Diamond Offshore (NYSE:DO): The stock is assigned an Underperform at FBR Capital.

Dril-Quip (NYSE:DRQ): Calling it a top pick, FBR Capital establishes an Outperform on the oilfield services outfit.

Home Depot (NYSE:HD): Home Depot stock is a new Neutral with Wedbush. Home Depot is a key member of the Dow.

Intuitive Surgical (NASDAQ:ISRG): The maker of da Vinci surgical robots gets resumed with a Buy at Jefferies. (Please see here for more on robots and drones.)

Lowe's (NYSE:LOW): Wedbush launches an Outperform on LOW.

Nokia (NYSE:NOK): The telecom stock is a fresh Overweight at JP Morgan, whose target price is $10.80.

Progressive Waste (NYSE:BIN): Progressive Waste stock is initiated with an Outperform at Imperial Capital. Its objective on Progressive Waste is $31.

Oil Stocks - Europe: Shares of oil majors BP Plc (NYSE:BP), Royal Dutch Shell (NYSE:RDS.A) and Total (NYSE:TOT) are all showing strength overseas today after being assigned an Overweight at HSBC Securities. Strong inherent industry cash flow is cited.

Oil Stocks - US: HSBC Securities starts coverage on dual Dow components Chevron (NYSE:CVX) (Overweight) and Exxon Mobil (NYSE:XOM) (Underweight). Yesterday, Exxon Mobil incurred a rare rating reduction.

Salesforce.com (NYSE:CRM): Pivotal Research picks the stock up at a Buy. Its target is $66.

Sonus Networks (NASDAQ:SONS): The small cap is resumed with a Outperform at Northland Capital, whose price objective is $4.40.

Twitter (NYSE:TWTR): Twitter stock, which went public last month, is begun with a Market Perform by Sanford Bernstein. Its price target on Twitter is $40.

Workday Inc (NYSE:WDAY): With the November employment report released only an hour ago, Workday - which provides human resource management software - is assigned a new Neutral at Macquarie. While the broker hails Workday's innovation and 'disruptive' capabilities, it also sees the stock as fairly valued. Indeed, yesterday shares in Workday rose another 3.20%.

(See also: Stock Upgrades: Bang for Your Buck? Dollar General Blows Bitcoin to Bits and Stock Downgrades: Casual Friday Doesn't Suit the Gap)
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No positions in stocks mentioned.
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