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New Stock Coverage: Yelp's Recent Gains Aren't for Real


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

Gordon Gekko famously dismissed love as "Fiction created by people to keep them from jumping out of windows," but a trading week that concluded with Cupid's arrow saw investors renew their infatuation with equities. Hallmark first celebrated Valentine's Day in 1913, a year before the world was consumed with hate, yet it was another 101-year-old institution that set the tone for stocks' best week of 2014. This as market-friendly comments from Fed head Janet Yellen sent Dow Industrials (INDEXDJX:.DJI) up 2.28%. Nasdaq (INDEXNASDAQ:.IXIC) went one better, finally finding a cure for its tech wreck of 2000 by emphatically declaring "Friday, I'm Love" as it ended at levels not seen since July 17, 2000. (That distant day's business headlines involved detested dial-up dinosaur AOL Inc. (NYSE:AOL), and Time Warner (NYSE:TWX) being berated for its terrible cable service.) "Plus ca change, plus c'est la meme chose," as they say in Paris, which offered up fresh evidence it remains the land of love even as its President sat solo in a heated tent on the White House lawn. It was actually Carl Icahn -- not, as many mistakenly believe, Mr. Gekko -- who was the first to memorably declare, "On Wall Street, if you want a friend, get a dog." Last week Apple (NASDAQ:AAPL) advanced 4.7% after the activist investor, who Bill Ackman regards as a tenacious little Shih Tzu, dropped his buyback proposal within hours of a Fox Terrier winning best in show at Westminster. And America lost the incomparable Shirley Temple, who made more than $29 million in inflation-adjusted dollars, before her tenth birthday and during the depths of the Depression. When her banker dad was done investing it, there were but 44,000 bucks left. Poor man. Maybe we can excuse him on account of stress.

Today's quarterly earnings announcements include Coca-Cola (NYSE:KO), Herbalife (NYSE:HLF), and Waste Management (NYSE:WM).

AmerisourceBergen (NYSE:ABC): Shares are begun with a Buy at Citigroup.

Catamaran Corporation (NASDAQ:CTRX): Citi has a new Neutral on this application software outfit.

Deutsche Bank (NYSE:DB): The financial firm is a fresh Buy at Jefferies.

Hi-Crush Partners (NYSE:HCLP): Wunderlich has a Hold, and $42 target price, on a stock it says will reward investors who instead wait for a more attractive entry point before buying.

Rice Energy (NYSE:RICE): RICE is resumed with an Overweight and $28 price objective by Barclays but Goldman Sachs (Neutral with a $27 target) is less bullish.

Roundy's (NYSE:RNDY): The grocery store gets begun at Market Perform by BMO Capital.

Yelp, Inc. (NYSE:YELP): This firm may be famous for its fake reviews but, truth be told, its stock has skyrocketed some 308.83% in the past year. Resultant valuation issues cause SunTrust to rate it no better than a Neutral. Its price objective is an even $100.

See also:

Stock Upgrades: Yogi Says Bear Market Finally Over at LuluLemon
(MV Pro)

Stock Downgrades: Weight Watchers Loses the Love Handles After Its Valentine's Day Massacre (MV Pro)
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No positions in stocks mentioned.
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