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New Stock Coverage: Pepsi Poised to Pop

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

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Sachs (GS) and Saks (SKS) helped send stocks higher, with Goldman upgrading its stock index forecast and the bling king surging some 11.32%. With stocks smoking, China's SinoCoking Coal And Coke Chemical Industries (SCOK) - based in a country whose air-breathing is equivalent to a several cigarette pack a day habit - jumped 25.40%. This as Marlboro man Philip Morris (PM) assumed full control of its unit in Mexico. (Where the birds ingeniously build nest eggs out of its butts.)

Elsewhere an unloved Carnival Corp (CCL), the only stock to be dual listed by both Britain's FTSE 100 Index (INDEXFTSE:UKX) and our own S&P 500 (^GSPC), fell 4.28% after its woes in the Gulf of Mexico. (A body of water that almost destroyed the Anglo-American "special relationship" during the BP Plc (BP) debacle.) Dan Loeb recently flew umpteen thousand of miles to Tokyo, where he hand delivered a letter to Sony (SNE). A bit excessive, perhaps, but his check is already in the mail with that lauded stock having just gained 9.25% to a fresh 52-week peak.

This morning in economics, analysts expect an uptick in April existing home sales at 10:00 a.m. Eastern. Fed head Ben Bernanke testifies before Capitol Hill today, and the Federal Open Market Committee releases minutes to its May 1 meeting at 2:00 p.m.

In earnings action, American Eagle Outfitters (AEO), Eaton Vance (EV), Hewlett-Packard (HPQ), L Brands (LTD), Lowe's Companies (LOW), PetSmart (PETM), SeaWorld (SEAS), Staples (SPLS), Synopsys (SNPS), Target (TGT), and Toll Brothers (TOL) are all due to report results.

Chart Industries (GTLS): Raymond James resumes the stock at Outperform.

Galena Biopharma (GALE): GALE gets assigned an Outperform at JMP Securities.

Global Geophysical (GGS): Barrington begins Outperform coverage on GGS.

Monster Beverage (MNST): Shares are begun at Outperform by BMO Capital Markets.

Popular Inc. (BPOP): The Puerto Rican financial firm is picked up at Outperform with Wells Fargo.

Soft Drinks: Dow (^DJI) component Coca-Cola (NYSE:KO) and Dr Pepper Snapple (NYSE:DPS) are each initiated with a Market Perform by BMO Capital. The broker is more upbeat on Outperform-rated PepsiCo (NYSE:PEP).

(See also: Stock Upgrades: Dice Holdings Is on a Roll and Stock Downgrades: Caesars Entertainment Stabbed in the Back.)

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.

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