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New Stock Coverage: Jacobs Engineering Can't Keep Climbing Ladder to Stars

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

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These broken records are starting to sound like a broken record. The S&P 500 (^GSPC) set its fifth straight historic high, and when the National Bank of Greece (NBG) jumps 22.77%, you know this rally really has legs. (Either that, or the apocalypse is nigh.) Electronic Arts (EA) surged 17.11% to a fresh peak, providing further proof video games are actually good for you.

Amid the bull run, investors had a serious beef with both Wendy's (WEN), which fell 5.56%, and McDonald's (MCD), whose 1.31% drop made it the Dow's (^DJI) poorest performer. (They obviously never got the memo about May being National Burger Month.) Twenty-four hours after watchmaker Fossil (FOSL) surged 9.01%, Manchester United (MANU) shed 1.76% on news its iconic manager - famous for haranguing referees by incessantly pointing at his wrist - called time on his club after 27 years.

And New York's Lincoln Center, historic home to prima donna divas including Maria Callas, appropriately hosted an even more outsized collection of preening egos at the Ira Sohn hedge fund conference. If only the billionaire advice was worth it.

Today in economics, analysts expect March wholesale inventories to pick up from February's pace at 10:00 a.m. Eastern. In earnings action, AES Corporation (AES), Carlyle Group (CG), Dean Foods (DF), Dish Network (DISH), Nvidia (NVDA), Priceline (PCLN), Repsol (PINK:REPYY), Skechers (SKX), Sony (SNE), and Sotheby's (BID) are all due to release results.

Engineering & Construction: Fluor Corporation (NYSE:FLR) is begun with a bullish Buy at Deutsche Bank. By contrast, the broker has only a Hold on Jacobs Engineering (NYSE:JEC) after a 31.45% stock price increase over the past 12 months.

Evercore (EVR): Shares are initiated with a Positive at Susquehanna.

Infinity Pharmaceuticals (INFI): Wells Fargo assigns an Outperform.

Merit Medical (MMSI): The stock is a Hold at The Benchmark Company, whose target is $10 due to limited earnings visibility.

Ocean Power Technologies (OPTT): The microcap is a Strong Buy at Ascendiant Capital Markets, whose price objective is $5. The broker says OPTT is significantly undervalued.

Pinnacle Foods (PF): The recent Initial Public Offering, whose brands include Birds Eye and Aunt Jemima Vlasic, is begun with a Buy at Janney Capital.

(See also: Stock Upgrades: Green Mountain Scales the Summit and Stock Downgrades: Tumi Has Too Much Baggage.)
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No positions in stocks mentioned.
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