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New Stock Coverage: Yelp Now a Four-Letter Word?

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

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So much for tidings of comfort and joy this Christmas. Select Comfort (NASDAQ:SCSS), which crashed 3.98%, and Joy Global (NYSE:JOY), having fallen 5.49%, are but the latest equities indicative of a Santa Claus rally that remains stubbornly stuck in the chimney in 2013. December, historically a reliable money maker for the Dow (INDEXDJX:.DJI), is off to a stinker, and the S&P 500 Index (INDEXSP:.INX) is now down 1.3% this month. Pope Francis was named Time magazine's Person of the Year, but US stock markets were scared by the increasingly Scrooge-like specter of 2009 winner Ben Bernanke. Meg Whitman, who came of age with a newly liberated cohort of American women (1975 winners) said that the desktop computer (1982 winner) is not dead yet. Such a prediction would please Intel (NASDAQ:INTC) icon Andy Grove, 1997 winner, whose stock scores an analyst upgrade today. 1990 winner George Bush - the twins - just joined Twitter (NYSE:TWTR), whose surging stock added on another 0.67% to a post-IPO peak. And the Winklevii twins continue to curse 2010 winner Mark Zuckerberg, whose Facebook (NASDAQ:FB) is surging some 3.77% as we speak after being added to the S&P 500.

In terms of economic events that may move US markets today, October business inventories are seen as slipping from September's pace at 10:00 a.m. Eastern. Regarding specific stocks, expect earnings announcements out of Adobe Systems (NASDAQ:ADBE),Ciena Corporation (NASDAQ:CIEN), Hovnanian Enterprises (NYSE:HOV), Lululemon Athletica (NASDAQ:LULU), Quiksilver (NYSE:ZQK), and Restoration Hardware (NYSE:RH).

Accenture (NYSE:ACN): Stock in consulting company Accenture is resumed with an Outperform recommendation and $88 price objective at RBC Capital, which says it is well placed to benefit from a quartet of technology mega trends.

Altera (NASDAQ:ALTR): JMP Securities starts the stock at Outperform. Its target price is $41.

ARM Holdings (NASDAQ:ARMH): ARM Holdings stock is a fresh Outperform ($62 target) at FBR Capital, which cites its attractive recurring royalties and license fees.

Cempra (NASDAQ:CEMP): Shares are an Outperform at Robert W. Baird, whose price objective is $21. The Phase 3 antibiotic solithromycin has blockbuster drug potential, the brokerage believes.

CONSOL Energy (NYSE:CNX): Deutsche Bank covers the coal company at a Buy.

L Brands (NYSE:LB): The owner of Victoria's Secret, which has changed its stock symbol twice in recent months, is a new Buy at Brean Capital. Its target is $70.

Steel Stocks: Sanford Bernstein starts ArcelorMittal (NYSE:MT) at Outperform but is less bullish on Perform-rated U.S. Steel (NYSE:X). Its respective objectives are $22 and $27.

United Natural Foods (NASDAQ:UNFI): Jefferies has a Hold and $77 target on UNFI.

Weyerhaeuser (NYSE:WY): The pulp and paper stock is picked up with an Overweight at JP Morgan, whose price objective is $37.

Xilinx (NASDAQ:XLNX): JMP Securities has an Outperform opinion and $55 target on the tech name.

Yelp Inc. (NYSE:YELP): Yelp Inc. rates only a new Neutral boutique broker B. Riley. With stock in Yelp Inc. having surged some 226.94% over the past 12 months, concerns related to the company's stretched valuation. Its price target is $62.

(See also: Stock Upgrades: Can't Afford Hilton? Check Into iRobot's Roomba and Stock Downgrades: Profit Problem Predicted at Oracle)
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No positions in stocks mentioned.
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