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New Stock Coverage: Apollo Global Management LLC Going to Pluto?


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

It was a fine time to be Ben Bernanke's favorite publication, with the Washington Post (WPO) surging 4.87% in extended trading after being bought. For the rest of us, however, there was no check in the mail, as the Dow (^DJI) endured its worst day in more than a month, thanks mainly to ominous comments from a colleague of the Fed head. Jeff Bezos can at least be completely confident that his $250 million media acquisition will prove infinitely better value for money than the $275 million squandered on Alex Rodriguez. The disgraced slugger is attracting Bronx cheers, but a proud son of Queens, who served his penance in prison, is currently enjoying a new lease on life. Steven Madden (SHOO) saw his stock surge 3.68% to an historic high after Goldman Sachs (GS) flip-flopped its assessment of the footwear firm to Buy from Sell in one fell swoop. Being a native of New York's easternmost borough, Mr. Madden is likely a big Mets fan. The team, which evidently emerges from the shadows only under extreme duress, may alas be less than thrilled at an analyst inspired 11.62% surge in Canadian Solar (CSIQ).

Today's earnings announcements are expected to include Archer Daniels Midland (ADM), CVS Caremark (CVS), DISH Network (DISH), First Solar (FSLR), Liberty Media (LMCA), MGM Resorts (MGM), Office Max (OMX), Porsche (POAHY), Standard Chartered (SCBFF), 21st Century Fox (FOX), Walt Disney (DIS), and Zillow (Z).

Acuity Brands (AYI): The lighting name is launched with a Neutral at Goldman Sachs.

Apollo Global Management LLC (APO): Shares are started with a Buy at Sterne Agee.

CDW Corporation (CDW): Deutsche Bank and Needham both begin Buy-rated coverage, the latter with a $27 price target.

Fifth Street Senior Floating Rate (FSFR): FSFR is a fresh Buy at Deutsche Bank.

HD Supply Holdings (HDS): The industrial equipment stock, up impressively ahead of the open, is begun with bullish ratings at both Bank of America-Merrill Lynch (Buy) and JPMorgan (Overweight.) Goldman Sachs, with a new Neutral, advises greater caution.

OncoSec Medical (ONCS): Shares are begun with a Buy at Roth Capital.

TTM Technologies (TTMI): Canaccord Genuity picks up the printed circuit board provider with a Buy.

(See also: Stock Upgrades: InterContinental Hotels Group PLC Gets the Honeymoon Suite and Stock Downgrades: Big Blues for International Business Machines Corp.)
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No positions in stocks mentioned.
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