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New Stock Coverage: LinkedIn Will Have a Hard Job Maintaining Gains

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

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Tuesday, you did us terribly wrong in 1929, but boy, talk about a turnaround. From Tuesday Morning (TUES) - which jumped 6.86% - to Tuesday afternoon, when blue chips closed at yet another record high, the week's second day was once again a money making machine.

Dow Industrials (^DJI) rose for an unprecedented 18th straight Tuesday as markets eagerly moved from taper (Monday's fears the Fed will gradually ease off its bond buying binge) to Tepper (Appaloosa's main man unreservedly recommending equities on CNBC.)

Long-shunned Citigroup (C), which knows better than most that success is cyclical, is back in favor after bouncing 2.39% to a fresh peak. This as a bicycle-riding hedge fund heavy for once opted to Walk, man and sent Sony (SNE) surging 9.90%.

On the earnings front, Arctic Cat (ACAT), Cisco Systems (CSCO), Computer Sciences (CSC), Deere (DE), easyJet (OTCMKTS:ESYJY), Jack in the Box (JACK), Macy's (M), and Skechers USA (SKX) are all due to report results today.

Biotechnology: Piper Jaffray has an Overweight on Halozyme Therapeutics (HALO) and rates PDL BioPharma (PDLI) a new Neutral.

Ciena (CIEN): CIEN is covered with an Overweight at Evercore.

FXCM Inc. (FXCM): Barclays has a fresh Overweight on the foreign currency firm.

Insmed (INSM): Lazard launches Buy rated research on the biotech, sending it surging 9.4% before the bell.

LinkedIn (NYSE:LNKD): The professional networking name is resumed with a Neutral at Robert W. Baird, whose price objective is $190. Catalysts, including high incremental margins and strong free cash flow generation, are balanced out by a rich valuation that has seen shares surge 66.88% in the past 12 months.

McGraw-Hill Financial (MHFI): Evercore establishes the equity at Equal Weight.

Safeway (SWY): Goldman Sachs starts the supermarket giant at a Sell, citing secular and cyclical issues surrounding the stock.

UIL Holdings (UIL): The electric utility is assigned an Outperform with Wells Fargo.

Universal Truckload Services (UACL): KeyBanc Capital covers the company at a Buy.

Wi-LAN (WILN): Stifel starts the stock at a Buy, assigning a $6 target price, amid optimism over its high-margin licensing revenue growth potential.

(See also: Stock Upgrades: Rising Tide at Old Navy Lifts Gap and Stock Downgrades: Domino's Pizza Is Overdue for a Drop.)
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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