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New Stock Coverage: Downward Dog Days Are Over at Lululemon

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

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They say history doesn't repeat but, thanks to bunk, junk Splunk (NASDAQ:SPLK) and punk, last week it did definitely rhyme. Stocks snapped a four-week losing streak as the aforementioned poetic quartet enlivened holiday-shorted activity in equities. Ford (NYSE:F), whose founder famously said "history is bunk," jumped 5% after emerging from junk. As for the beloved application software stock, it rose 15.17% to finish Friday at a fresh 52-week peak. And Yahoo's (NASDAQ:YHOO) Marissa Mayer, of punk hairdo fame, unveiled the company's first new logo redesign in 18 years. Ms. Mayer, being of Finnish heritage, will have enjoyed seeing pride of Helsinki Nokia (NYSE:NOK) gain 40.6%. This, the year of the snake, has literally been good to the erstwhile tech titan. Alas Microsoft (NASDAQ:MSFT), its merger partner, slid 6.7% as investors recoiled from the unimaginative idea of replacing a middle aged CEO named Steve with one called Stephen.

Today in economics, analysts call for a contraction in July consumer credit at 3:00 p.m. Eastern. In earnings action, Hovnanian Enterprises (NYSE:HOV), Palo Alto Networks (NASDAQ:PANW), Pep Boys-Manny, Moe & Jack (NYSE:PBY), and PVH Corp (NYSE:PVH) are all due to report results.

Apparel & Accessories: Nomura has new Neutrals on Aéropostale (NYSE:ARO),American Eagle Outfitters (NYSE:AEO), Ann Inc (NYSE:ANN), Buckle, Inc. (NYSE:BKE), Fossil (NASDAQ:FOSL), Gap Inc. (GPS), L Brands (NYSE:LTD), and Urban Outfitters (NASDAQ:URBN). It begins Buys on Abercrombie & Fitch (NYSE:ANF), Chico's FAS (NYSE:CHS), Express, Inc. (NYSE:EXPR), and Francesca's (NASDAQ:FRAN).

Domino's Pizza (NYSE:DPZ): KeyBanc has a Buy on the fast food firm.

Lululemon Athletica inc. (NASDAQ:LULU): The yoga apparel company, which has endured a difficult year amid an executive departure and sheer pants problem, is begun with an upbeat Buy at Citigroup. The bank cites potentially better profit margins and sales going forward.

Oshkosh Corporation (NYSE:OSK): The trucking name is resumed at a Sector Perform by RBC Capital Markets.

Precision Drilling (NYSE:PDS): Barclays picks up PDS at an Equal-Weight.

Ratings Agencies: William Blair assigns Outperforms on both Standard & Poor's owner McGraw-Hill Financial (NYSE:MHFI) and Moody's (NYSE:MCO).

Signet Jewelers (NYSE:SIG) Shares are started with a Buy at Nomura.

Sprint Corporation (NYSE:S): Evercore establishes the telecom stock at Equal-Weight.

Third Point Reinsurance (NYSE:TPRE): The property and casualty name is a new Neutral at JPMorgan but Bank of America-Merrill Lynch, with a Buy, is more bullish.

Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA): Citigroup starts the stock with a Buy and establishes a price objective of $125.

Wal-Mart Stores, Inc. (NYSE:WMT): The key Dow (INDEXDJX:.DJI) component is covered with a Buy at Goldman Sachs, which highlights its "modest but durable growth profile."

(See also: Stock Upgrades: Pucker up to Estee Lauder and Stock Downgrades: Not Even John Stamos Can Save Danone.)
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No positions in stocks mentioned.
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