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New Stock Coverage: Look at LeapFrog Jump


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

When not one but two serene white doves popped up on the homepage of CNBC earlier in the week, you just knew a scary black swan would suddenly appear out of nowhere. Sure enough, it came in the shape of a 7.5% swan dive in Japan's main market, which spooked investors worldwide and sent the Dow (^DJI) down for a second straight day. Just as Mr. Market nursed his first serious Hangover in ages, Tylenol maker Johnson & Johnson (JNJ) and Aspirin outfit Bayer (OTCMKTS:BAYRY) each scored analyst initiations. Still, brewing behemoth SABMiller (OTCMKTS:SBMRY) slumped after announcing earnings; clearly, we have now seen this movie way too many times before. Elsewhere, a ratings reduction saw Anglo American (OTCMKTS:AAUKY) tumble 2.94%. It owns 85% of De Beers, famous for "A Diamond is Forever" advertising campaign created, ironically enough, by two never-married spinsters.

Ahead of the long Memorial Day weekend, the bond market is scheduled to close early. On the corporate front, expect quarterly earnings announcements out of Abercrombie & Fitch (ANF), Destination XL Group (DXLG), Foot Locker (FL), Hibbett Sports (HIBB), Tsakos Energy Navigation (TNP), and UT Starcom (UTSI).

Alnylam Pharmaceuticals (ALNY): Deutsche Bank begins Buy rated research on the biotech.

CenterPoint Energy (CNP): The diversified utility is assigned a Hold by Deutsche Bank.

Kodiak Oil & Gas (KOG): Deutsche Bank has a Hold on the energy outfit.

LKQ Corp. (LKQ): The stock is launched with a Buy at Stifel, whose target price is $33. Favorable factors include an overdue consolidation in the automotive aftermarket.

Summer Infant (SUMR): The stock is a new Neutral at Roth Capital.

Teleflex (FTX): William Blair establishes Outperform-rated research on the medical instruments firm.

Toys & Games: Roth resumes Neutral-rated coverage on Kid Brands (NYSE:KID) and launches LeapFrog Enterprises (NYSE:LF) at a Buy.

(See also: Stock Upgrades: Changing Tides Makes Procter & Gamble a Better Bet and Stock Downgrades: Rue21 Exits Easy Street.)
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