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New Stock Coverage: Ameriprise Turns Tommy Lee Jones Into Fat Cat


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

Yesterday was Poem in Your Pocket Day; pity the stock market chose to honor the occasion by emptying investors wallets. Shares dropped for a second straight day although in another foul session for equities Fairway (FWM) jumped 8.93%.

News reports cited a loyal fan who said of the New York grocer that "he might consider buying shares, 'if they throw in some olives.'" Dude, you sure about that? Moving swiftly along from rats to other rodents, Mouse House and Dow (^DJI) member Walt Disney (DIS) dropped 1.14% after announcing it will release a new Star Wars movie every year. (Trust me, the world doesn't need any more Jar Jar Binks.)

Elsewhere EntreMed (ENMD), which surged in the late '90s amid claims - sadly premature as it turned out - that it had cured cancer in mice, slid 7.58% as the "Emperor of all Maladies" continues to prove devilishly difficult to eliminate in people.

No top-tier economic data due today, but a frenzied first full week of quarterly earnings announcements concludes with Baker Hughes (BHI), General Electric (GE), Honeywell (HON), Kimberly-Clark (KMB), McDonald's (MCD), Schlumberger (SLB), State Street (STT), Under Armour (UA), and Indian outsourcer Wipro (WIT) all expected to release results.

Adobe Systems (ADBE): Shares are initiated with a Buy at B. Riley & Co.

Ameriprise Financial (NYSE:AMP): Turn that frown upside down, Tommy. The company, whose seriously surly spokesman was compared to a grumpy cat at the Golden Globes, is today launched with a bullish Buy at Citigroup. The onetime spin-off from American Express (AXP) has gained 29.95% over the past year, reaching a fresh 52-week peak on April 11.

Apple Inc. (AAPL): The troubled tech titan is begun with a Buy at Standpoint Research, whose price objective is $480.

Cabot Oil & Gas (COG): Shares are initiated with an Outperform at Wells Fargo.

Churchill Downs (CHDN): Wells has a new Outperform on the name.

Cogent Communications (CCOI): Drexel Hamilton has a Hold on the company.

Nielsen (NLSN): NLSN is a new Outperform at BMO Capital.

Six Flags (SIX): Credit Suisse starts the amusement park operator, trading atop historic highs of late, at an Outperform.

Solazyme (SZYM): Shares are resumed with an Overweight at Morgan Stanley.

Stealthgas (GASS) GASS gets assigned a Buy at Jefferies.

SunCoke Energy Partners (SXCP): The stock is a fresh Outperform with Wells.

WellCare Group (WCG): Jefferies has a Hold on the company.

(See also: Stock Upgrades: E*TRADE Babies Set for Mother of All Rallies? and Stock Downgrades: Coach Handbag Contains No Cash.)
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