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New Stock Coverage: Nasdaq Tries to Turn Over a New Leaf

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

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Capitalism did admittedly endure an awful month, with Dow Industrials (INDEXDJX:.DJI) dropping 4.4% in August, but for all the flaws of the free enterprise system, 64-year-old swimmers still journey through shark-infested waters from Cuba to Florida, and not the other way around. While Diana Nyad mercifully avoided sleeping with the fishes, mattress maker Select Comfort (NASDAQ:SCSS) jumped 6.74% last week even as JPMorgan (NYSE:JPM) slumped 3.4% as it endured more torment under the spreadsheets. (What was under the pillow proved far more lucrative, with the Tooth Fairy proving impressively immune to current deflationary pressures.)

With skeleton crews staffing Wall Street ahead of the holiday weekend, Walking Dead owner AMC Networks (NASDAQ:AMCX) rode a broker boost to take its 12-month advance to 58.64%. This as a Motown man, in an apt commentary on the current dire state of Detroit, stole his father's corpse in an attempt to resurrect the 93-year-old man. The culprit's last name was Bright, but a simultaneous new study proved penury adversely affects intelligence.

Today in economics, analysts expect August's Institute for Supply Management manufacturing index to soften from the prior month's pace at 10:00 a.m. Eastern. On the corporate front, H&R Block (NYSE:HRB) is due to report quarterly results.

Altisource Residential (NYSE:RESI): JMP Securities starts the stock at Outperform.

Drug Stocks: Novo Nordisk (NYSE:NVO) is a new Market Perform at Sanford Bernstein, which starts Shire PLC (NASDAQ:SHPG) at Outperform.

Fox Factory Holding (NASDAQ:FOXF): Shares are a new Outperform at Robert W. Baird, whose target price is $23. Expansion into new markets offers promise, the broker believes.

French Banks: Jefferies has holds on both BNP Paribas (OTCMKTS:BNPQY) and Société Générale (OTCMKTS:SCGLY) and begins Buy-rated coverage on Crédit Agricole (OTCMKTS:CRARY).

ING Group (NYSE:ING): The European financial firm, a longtime sponsor of the New York marathon, is a fresh Buy at UBS.

Intrexon Corp (NYSE:XON): Mizuho begins the biotech with a Buy rating and $30 price objective. Catalysts include an impressive management team and opportunities in the genomic and cellular engineering arenas.

Mead Johnson Nutrition (NYSE:MJN): The infant formula maker is picked up with a Market Perform at First Global.

NASDAQ OMX Group, Inc. (NASDAQ:NDAQ): The exchange operator, which endured an awful August, is today started with an upbeat Outperform at BMO Capital.

QEP Midstream Partners (NYSE:QEPM): Deutsche Bank launches the limited partnership at a Buy.

Stock Building Supply Holdings (NASDAQ:STCK): Robert W. Baird has a new Neutral on the building materials name.

World Point Terminals (NYSE:WPT): The company is covered with an Outperform at Credit Suisse.

YuMe, Inc. (NYSE:YUME): The advertising agency is assigned a Buy at Deutsche Bank.

(See also: Stock Upgrades: Say Yes to Nokia and Stock Downgrades: Coca-Cola Carries the Can.)
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No positions in stocks mentioned.
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