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New Stock Coverage: Cardiovascular Systems Inc Will Win Your Heart


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

Michael Dell (DELL) plaintively pleaded, "Brother, can you spare a dime?" but, inspired by Jane Austen's example, stocks preferred to lend us a tenner, making abundant cents and sensibility in returning to their winning ways. Mark Zuckerberg did much to redeem the reputation of dorm room dropouts from the aforementioned Mr. Dell. His suddenly befriended Facebook (FB) jumped 29.61% as the smart money flocked to a stock whose principal product continues to encourage incomparable stupidity. While the Willow Road resident weeped tears of joy, the crocodile variety were in evidence at an unloved Crocs (CROX), which cratered 20.20%.

"And this is good old Boston, The home of the bean and the cod, Where the Lowells talk only to Cabots, And the Cabots talk only to God." So goes a witty ditty about Beantown's Brahmins. It's not bad investment advice, either, what with Boston Scientific (BSX) surging some 12.70% and Cabot Oil (COG) advancing 6.76% to an all-time high.

Today in economics, the University of Michigan's final figure for July consumer confidence arrives at 9:55 a.m. Eastern. On the earnings front, peak week of Q2 reporting season concludes with quarterly announcements expected out of Aon plc (AON), British Sky Broadcasting (BSYBY), Kia Motors (KIMTF), Lear Corporation (LEA), LyondellBasell (LYB), Newell Rubbermaid (NWL), Samsung Electronics (SSNLF), Stanley Black & Decker (SWK), Tyco International (TYC), and Wipro (WIT).

Cardiovascular Systems Inc (CSII): Shares are covered with a Buy at Wunderlich, whose target price is $24. The medical company has submitted its peripheral artery disease (PAD) application to the Food and Drug Administration, and regulatory approval accompanied by a domestic product launch is anticipated in the first quarter of 2014.

Delphi Automotive (DLPH): The automotive outfit is assigned an Outperform with Wells Fargo.

Goodrich Petroleum (GDP): GDP gets begun with a Buy at Canaccord Genuity.

(See also: Stock Upgrades: Tesla Motors Inc Hits Top Gear and Stock Downgrades: Bed Bath & Beyond Inc. Needs a Nap.)
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No positions in stocks mentioned.
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