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New Stock Coverage: Nike Inc Jumps to It

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

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Someone got very rich in the Northeast yesterday, but it wasn't anywhere on Wall Street, where stocks slumped for a third straight session on more taper talk. The imminent end of policy "accommodation" from the Fed failed to keep an iconic hotel chain from the free market, nor prove a problem for the legendary hospitality of Air Canada (AIDIF), which surged 22.05% in its best day for more than four years. Most other equities suffered mightily, however.

One was indeed the loneliest number as Kraft Foods (KRFT), which slices up Singles, tumbled 2.65% and Green Mountain Coffee (GMCR), home of the single serve K-cup, gave back 2.53% before falling further after-hours. Elsewhere AOL Inc. (AOL) and Time Warner (TWX), whose millennial march down the aisle was the most catastrophic corporate marriage in history, each reported impressive earnings after going their own way. Meanwhile The Lone Ranger and his trusty sidekick Tonto are surely heading for a Brokeback Mountain divorce after sky-high expenses for the Johnny Depp box office bomb caused Disney (DIS) to drop a Dow (^DJI)-worst 1.70%.

Today's corporate earnings announcements are expected to include Annie's (BNNY), Beam Inc. (BEAM), Commerzbank (CRZBY), Dean Foods (DF), Deutsche Telekom (DTEGY), Lions Gate Entertainment (LGF), Nestlé (NSRGY), Noodles & Co (NDLS), Nvidia (NVDA), Priceline.com (PCLN), Rio Tinto (RIO), and T-Mobile (TMUS).

Athletic Apparel: Nike Inc (NKE), recently trading at historic highs, is a new Outperform with Wells Fargo. Meanwhile Under Armour (UA) gets assigned a Market Perform.

Coty Inc. (COTY): The fragrance firm, a relatively recent initial public offering, is a new Neutral at Citigroup.

Endo Health (ENDP): Citigroup begins Buy-rated research on ENDP.

MAKO Surgical (MAKO): Needham has a Hold on the stock, which it now sees as appropriately valued after last week's stellar showing.

Netflix (NFLX): NFLX is a new Neutral at Robert W. Baird, which establishes a price objective of $263. Although the adoption of Internet streaming TV offers immense long term promise, shares are seen as somewhat rich after surging 330.41% in the past 12 months.

Valeant Pharmaceuticals (VRX): Shares are resumed with an Overweight at JPMorgan.

Wright Medical (WMGI): Lauding the company's plans to become a pure play in the high-growth extremities market, Needham has a new Buy on the name.

Zimmer (ZMH): Needham has a new Buy on the medical device stock, which it says is returning large amounts of cash to shareholders.

(See also: Stock Upgrades: Barbarians Back Off Bill Gates at Microsoft Corporation and Stock Downgrades: Today's Take-Down Of Tesla Motors Inc Looks Like Road Kill.)
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No positions in stocks mentioned.
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