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New Stock Coverage: Bob Evans Farms Inc Brings Home the Bacon


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

Japan's Jiroemon Kimura, history's oldest man who entered the world in the Dow's (^DJI) first full year of 1897, died yesterday, just as his homeland inflicted considerable damage on the blue chip index. Shares slumped after Tokyo's central bankers opted to hurry up and wait, much to the disappointment of world markets.

An unloved Lululemon (LULU) thus picked a bad day to have a bad day, but its 17.54% implosion will cause no tears in Kimura-san's native country. Not after the cult yoga clothing company's founder once admitted to giving his firm its odd name because "It's funny to watch [the Japanese] try and say [the letter 'l']." Lululemon's mauling resulted from the utterly unexpected announcement its CEO is leaving, something an analyst at a French firm certainly didn't see coming a mere four days earlier.

It was surely the height of folly, therefore, for Boeing (BA) to try and predict what will happen 20-years hence, and at an air show in Paris of all places. (Especially after a psychic convention in Scotland was just canceled on account of "unforeseen circumstances.")

Elsewhere coal company Peabody (BTU) fell 4.34% to a fresh 52-week low, and Citigroup (C) likely would love to rake Mr. Peabody over the coals after his scary $7 billion prophet warning caused the bank stock to slide 3.81%.

It's another day without any top-tier economic data, but H&R Block (HRB), Men's Wearhouse (MW), an PVH Corp. (PVH) are all expected to announce earnings.

Albany Molecular Research, Inc. (AMRI): Sterne Agee starts Buy-rated research on the biotech.

Bob Evans Farms Inc (BOBE): The pork sausage producer and restaurant owner is resumed with an Outperform at Oppenheimer, which establishes a price objective of $57. Potential catalysts include accretive acquisitions, dividend growth, and stock repurchases.

Calumet Specialty Products Partners, L.P (CLMT): Credit Suisse covers the company at Outperform.

First Republic Bank (FRC): FRC is a fresh Overweight at Barclays.

Pacific Drilling SA (PACD): Credit Suisse picks up PACD at an Outperform.

Texas Roadhouse Inc (TXRH): Bank of America-Merrill Lynch launches the stock at a Buy.

(See also: Stock Upgrades: Say 'Cheers' to Boston Beer Co Inc and Stock Downgrades: Legg Mason, Inc. Carried Out Feet First.)
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