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New Stock Coverage: Oracle Is as Happy as Larry


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

Hanukkah, characterized by Adam Sandler as Eight Crazy Nights, ends this evening. Tomorrow, baring a miracle, eight mad weeks of US stock market gains will similarly come to a close. It was lights-out in equities for a fourth straight session as indices endured their first four-session losing slump since late September. Fed taper fears emerged again amid strong economic data, not least the fastest monthly increase in new-home sales since 1980. That truly was an unfathomably distant era, when dinosaurs like Newsweek still rolled off the printing presses, while Paul Volcker vied for headlines with Farrah Fawcett. We really have come a long way since the early '80s, when Scarface was a box-office sensation. Indeed yesterday's top Nasdaq (INDEXNASDAQ:.IXIC) stock was Oculus Innovative Sciences (NASDAQ:OCLS), which surged 103.43% on approval for its anti-scar gel. Thoroughly modern Facebook (NYSE:FB), whose founder was born in 1984 - and (Big) Brother, is he ever a big believer in 1984 - gained 4.04% on speculation it is shortly to be added to the S&P 500 Index (INDEXSP:.INX). Although, really, why would it want to be included in such a club? JC Penney (NYSE:JCP) was that benchmark's top stock in November before being unceremoniously booted. And Hewlett-Packard (NYSE:HPQ), up another 2.29% yesterday, has been on a tear since getting ditched from Dow (INDEXDJX:.DJI).

In terms of economic events that may move US markets today, at 10:00 a.m. Eastern consensus calls for a fall in October factory orders. Regarding specific stocks, Conn's (NASDAQ:CONN), Dollar General (NYSE:DG), Finisar (NASDAQ:FNSR), Jos A Bank (NASDAQ:JOSB), Kroger (NYSE:KR), Pacific Sunwear of California (NASDAQ:PSUN), Royal Bank of Canada (NYSE:RY), Smithfield Foods (NYSE:SFD), Toronto-Dominion Bank (NYSE:TD), Ulta Salon (NASDAQ:ULTA), and Zumiez (NASDAQ:ZUMZ) are all due to release quarterly results.

Analog Devices (ADI): Shares are assigned an Outperform at Oppenheimer, whose target price is $58.

Arris Group (NASDAQ:ARRS): Brean Capital covers the company at a Buy.

Boston Scientific (NYSE:BSX): The Benchmark Company has a Hold on Boston Scientific. Its target is $12 on the stock.

Covidien (NYSE:COV): Shares are initiated with a Buy opinion and $82 price objective at Benchmark Company, which cites its impressive efforts at diversification among other favorable factors.

eBay Inc. (NASDAQ:EBAY): If it's Thursday, it must be an eBay initiation. After an upgrade on Monday and a downgrade on Wednesday, the online auctioneer is today assigned a fresh Fair Value at CRT Capital.

MGIC Investment (NYSE:MTG): Goldman Sachs starts the stock at a Conviction Buy with a target of $10.

Oracle (NYSE:ORCL): (Today's title has Oracle's billionaire CEO Larry Ellison in mind, although for all I know Larry Summers is also long the stock.) The tech name is a new Outperform at BMO Capital. Its price objective on Oracle is $42.

Prospect Capital (NASDAQ:PSEC): Shares are a Hold with Wunderlich.

Radian Group (NYSE:RDN): Goldman resumes Buy-rated research, and a $17 target price, on Radian.

Raymond James Financial (NYSE:RJF): Buckingham Research starts the stock at a Buy.

Spirit Aerosystems (NYSE:SPR): Shares are showing strength ahead of the open after being begun with a Buy at Citigroup.

Superior Energy (NYSE:SPN): JPMorgan starts the stock at Overweight.

Technology Stocks: BMO establishes Outperforms on Citrix Systems (NASDAQ:CTXS), Commvault Systems (NASDAQ:CVLT), and Red Hat (NYSE:RHT). Its respective price objectives are $65, $105, and $55.

(See also: Stock Upgrades: Tiffany Running Rings Around the Competition and Stock Downgrades: Oil's Not Well at Exxon)
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