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New Stock Coverage: Put Fresh Money to Work in Fossil


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

"Sell in May and go away" doesn't work so well when it's Christmas in April. Positive employment data from Challenger, Gray & Christmas, allied with a slew of solid earnings announcements, saw shares rise for an eighth session in ten, with Nasdaq (^IXIC) now at levels last seen in November 2000.

Animal spirits were once again everywhere, with a bull run sending Build-A-Bear (BBW) up an astonishing 33.27%. Previously shunned stocks also regained favor. Botox maker Allergan (AGN), which imploded 13.10% on Wednesday for its steepest slide in 14 years, rebounded 2.68% after an analyst opted to turn the other cheek, so to speak. (If Joan Rivers will forgive the phrase.)

And an iconic investor took to Twitter to announce he is "in the house." Which one wasn't specified but knowing his Midas touch in equities, it was likely Beazer Homes (BZH) - up 10.30% yesterday and thrice upgraded this morning. Or Maxwell House, whose owner Kraft Foods (KRFT) is presently enjoying an impressive 2.00% pre-market bounce.

Today in economics, analysts expect April's Institute for Supply Management non-manufacturing report to fall from the prior month's pace at 10:00 a.m. Eastern.

On the corporate front, the final full week of reporting season finishes with Air France-KLM (PINK: AFLYY), Berkshire Hathaway (BRK.A), CBOE Holdings (CBOE), Duke Energy (DUK), Host Hotels (HST), Leucadia National (LUK), Madison Square Garden (MSG), Moody's (MCO), Newell Rubbermaid (NWL), Orbitz (OWW), Regeneron (REGN), Royal Bank of Scotland (RBS), and YRC Worldwide (YRCW) all due to release results.

Cubist Pharmaceuticals (CBST): The stock, a 3.34% gainer yesterday, is this morning initiated with a Buy at UBS.

Fossil, Inc. (NASDAQ:FOSL): The maker of watches and other accessories is begun with a bullish Buy at Topeka.

Glencore International (PINK:GLCNF): Credit Suisse covers the commodity company at Outperform.

Osage Exploration & Development (OEDV): The small cap oil and gas outfit gets assigned a Buy at Brean Capital.

(See also: Stock Upgrades: Make a Mint (Julep) in Jim Beam Ahead of Kentucky Derby and Stock Downgrades: PetSmart Is in the Doghouse.)
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