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New Stock Coverage: Lululemon Stock Is Sheer Bliss


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

Shares surged on a day it was effortlessly easy to earn money. (Unless your name is Goldman Sachs (GS), which somehow contrived to slide 1.61% even as stocks enjoyed their single best session in seven weeks. Perhaps the "great vampire squid" of capitalism needs a refresher course in counting cash. If so, those champagne socialists in France will happily provide it.)

Consumer inflation fell in March for the first time in four months and, coincidentally or not, Apple (AAPL) advanced 1.52% to rise for the first time in four days. Perhaps the Fed's let-them-eat-iPads policy is proving correct after all. Such was the ebullience in equities that iron ore producer Chicago Bridge & Iron (CBI) actually ended up, even after incurring a ratings reduction. The Iron Lady would no doubt approve, even if Chicago pol President Obama was correct in telling America "we didn't build that," for the company is actually headquartered in Holland.

Today in economics, the Fed releases its beige book detailing regional economic conditions in a dozen districts at 2:00 p.m. Eastern. On the earnings front, Hump Day of a peak reporting week sees announcements out of Abbott Labs (ABT), American Express (AXP), Bank of America (BAC), eBay Inc. (EBAY), and Mattel (MAT).

Aéropostale (ARO): Maxim has a Hold on the clothing company.

AMC Networks (AMCX): The broadcaster behind such shows as The Killing and Mad Men is begun with an Outperform at Sanford Bernstein. Shares, up 52.02% in the past year, hit an historic high last week.

Ascent Media (PINK:ASCMA): Shares are assigned an Overweight at Piper Jaffray.

Casey's General Stores (CASY): Goldman Sachs starts coverage at a Neutral.

Children's Place (PLCE): The retailer gets resumed with a Buy at Maxim.

DIRECTV (DTV): The equity is begun with a Buy at Stifel, whose price objective is $65.

DISH Network (DISH): Stifel has a Hold on the stock amid issues over the future of the pay television industry in America.

Group 1 Automotive (GPI): GPI is begun with a new Neutral at Credit Suisse.

Lululemon Athletica (NASDAQ:LULU): The yoga-apparel outfit, fresh from its sheer pants problem, is picked up with an Overweight by Barclays. As a result, shares are currently inching up even as stock futures indicate a lower overall open for equities.

Qihoo 360 Technology (QIHU): Shares are picked up with an Overweight at Barclays.

Scripps Networks Interactive (SNI): Bernstein begins SNI at a Market Perform.

SunCoke Energy Partners (SXCP): The company is covered with a Buy at BB&T Capital.

Wesco Aircraft (WAIR): UBS starts a Sell on the stock.

Workday (WDAY): The company is covered at Outperform with Wedbush.

WPP Group plc (PINK:WPPGY): Evercore establishes an Overweight on the British advertising giant.

(See also: Stock Upgrades: Merrill Says Marissa Mayer's Yahoo Honeymoon Isn't Over and Stock Downgrades: Deere Not Making Dough.)
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