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New Stock Coverage: Churchill Downs Would Make Maggie Proud


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

Pennies don't fall from heaven. They have to be earned here on Earth.
– Margaret Thatcher (1979)

On her first full day in that transcendent place, the British Prime minister continues to keep a watchful eye on capitalism, with her words proving uncomfortably prophetic for, natch, JC Penney (JCP). Shares indeed fell 12.22% to a 12-year low in a positively hellish performance. Maggie's celestial aura - combined with First Solar (FSLR), up 45.53% in its best day ever - made the skies above burn brighter as markets again reached records. The alternative energy outfit saw shares surge amid high hopes for its Desert Sunlight, but Ray-Ban sunglasses owner Luxottica Group (LUX) got its just desserts, losing 2.39% on a lukewarm analyst initiation.

Today at 2:00 p.m. Eastern the Federal Open Market Committee releases minutes to its March 19-20 meeting. In earnings activity, Bed Bath & Beyond (BBBY), Carmax (KMX), Constellation Brands (STZ), Family Dollar (FDO), Fastenal (FAST), and Ruby Tuesday (RT) are all due to report results.

Churchill Downs (NASDAQ:CHDN): In the week Mrs. Thatcher passed away, a stock with echoes of another iconic British prime minister is in the news. The thoroughbred horseracing company based in Louisville, Kentucky, is launched with a Buy at Janney.

Gartner (IT): Janney begins Buy rated research on the information technology outfit.

H&R Block (HRB): Shares are initiated with an Outperform at Wedbush.

Heartland Financial (HTLF): D.A. Davidson has a Buy on HTLF.

Icahn Enterprises (IEP): The limited partnership is picked up with a Buy at Jefferies

Japanese Electronics: JPMorgan assigns an Overweight on Panasonic (PC) and has a new Neutral on Sony (SNE).

MarkWest Energy Partners (MWE): Goldman Sachs has a new Neutral on the name.

Navidea Biopharmaceuticals (NAVB): NAVB is a new Buy at Janney.

Netflix (NFLX): Shares are initiated with an Underweight at Evercore.

(See also: Stock Upgrades: American Eagle Can Fly High and Stock Downgrades: Hospital Stocks Back in Emergency Ward.)
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No positions in stocks mentioned.
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