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New Stock Coverage: Bluebird Bio Inc Will Fly High


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

The S&P 500 Index (^GSPC) ended in seventh heaven, rising for seven straight sessions to round out its best week in seven months. (An overnight slowdown in China's growth rate from 7.7% may yet portend an upcoming spell in purgatory, however.) As baseball's All Stars arrive in the Big Apple, let's instead stop to praise the utility infielder, with the habitually unheralded utilities sector surging 4.50% to top all ten industry groups.

Gold, which just made one fortunate treasure hunter flush in Florida, gained 5.5% for its best weekly showing since October of 2011. Sirius XM Radio (SIRI) jumped 10% over five sessions and Radio Shack (RSH) advanced an NYSE-best 11.03% on Friday alone. Gray beards like Ben Bernanke, a scholar of the Great Depression, will wince, remembering the speculative role played by Radio Corporation of America in the Crash of 1929. Alas, long memories are an increasingly rare commodity in America, and our collective amnesia may yet ensure all is forgiven for a former Wall Street sheriff.

Today in economics, May business inventories are out at 10:00 a.m. Eastern. On the corporate front, the first full week of the Q2 reporting season starts with Cintas Corporation (CTAS), Citigroup (C), Healthcare Services Group (HCSG), JB Hunt Transport Services (JBHT), MB Financial (MBFI), and Taylor Capital (TAYC) all expected to release results.

bluebird bio Inc (BLUE): BLUE gets begun with Buys at both Canaccord Genuity and Bank of America-Merrill Lynch. Shares are about 2.30% higher before the opening bell as a result.

Duke Realty (DRE): The stock is a new Neutral at SunTrust Robinson Humphrey.

eGain Corp (EGAN): Shares are covered with an Outperform recommendation and $13.50 price objective at Northland Capital, which projects impressive annual growth over upcoming years.

PTC Therapeutics (PTCT): Shares are picked up with an Overweight at JPMorgan.

Sprint (S): The stock is assigned an Underperform at Bank of America-Merrill Lynch.

Yahoo (YHOO): Impressed with the Internet outfit's new management team, MKM Partners begins Buy rated-research.

(See also: Stock Upgrades: Looking for a Free Lunch? Breakfast at Tiffany & Co. Today and Stock Downgrades: United Parcel Service, Inc. Is Returned to Sender.)
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No positions in stocks mentioned.
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