Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

New Stock Coverage: Movado Group, Inc Has Time on Its Side


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

Thursday was an apocalyptic session for stocks, as trifecta of trouble from one of the Internet's fabled "Four Horsemen" made for an awful day at the races. A 7.17% slump in Cisco Systems (CSCO) saw Dow Industrials (^DJI) endure their second straight triple-digit dive. With Wall Street laying a Cadbury Creme Egg, the sweet treat's corporate owner endured more misery in ending down 1.36%. Recently an activist investor, sounding suspiciously like the diminutive Jedi Master from Star Wars, declared, "The name Mondelez (MDLZ) I hate." But we all know that Buffett is the real Yoda, and his Berkshire Hathaway (BRK.B) slashing its stake in the food company was behind its funk yesterday. Omaha's oracle is, of course, a big believer in newspapers yet the ink-stained wretches at the New York Times (NYT) had a wretched time of it, nose-diving 3.91%. This after the nation's newspaper of record was forced to turn to Facebook (FB) for its stories, a fact that Rupert Murdoch's New York Post wasted no time informing us about.

Today in economics, analysts expect an improvement in the University of Michigan's preliminary August consumer sentiment survey at 9:55 a.m. Eastern. On the earnings front, Ann Inc. (ANN), A.P. Møller–Mærsk (AMKBY), Buckle (BKE), Enstar Group (ESGR), Foot Locker (FL), and Main Street Capital (MAIN) are all due to report results.

Aircastle (AYR): RBC Capital Markets establishes a Sector Perform on AYR.

FLY Leasing (FLY): FLY is a fresh Outperform at RBC Capital Markets.

Glu Mobile (GLUU): Citing mobile competition concerns, Benchmark Company has a lukewarm Hold on the stock.

Mazor Robotics (MZOR): JMP Securities rolls out coverage at Outperform.

Movado Group, Inc (MOV): The timepiece titan, maker of the legendary Museum Watch, is begun with a Buy at Brean Capital. The brokerage describes MOV as an "undiscovered growth story."

Semiconductors: Morgan Stanley starts covering Freescale Semiconductor (FSL) and ON Semiconductor (ONNN) at Underweight but is more upbeat on Overweight-rated Atmel (ATML) and Fairchild Semiconductor (FCS). Splitting the difference, it assigns an Equal-Weight on Microchip (MCHP).

Semtech (SMTC): The stock is assigned an Outperform at RBC Capital.

Xcel Energy (XEL): UBS establishes a Neutral on XEL.

(See also: Stock Upgrades: Pandora Media Inc Is Music to Investors' Ears and Stock Downgrades: General Mills, Inc. Didn't Eat Its Wheaties.)
< Previous
  • 1
Next >
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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos