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New Stock Coverage: Raise a Toast to Heineken

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

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Popular culture is, as ever, a step behind the real world. Why hasn't anyone gone to jail for the financial crisis, Frontline asked on Tuesday. Maybe it's because, with markets now at their highest since 2007, all those awful memories are fading fast. Rip Van Winkle - assuming he avoided sleeping on a Select Comfort (SCSS), after the mattress maker slumped 16.6% last week - would wake up to find the idyllic equity market of half a decade ago. Contrarians note ominously, however, that two of the three nightly TV newscasts began their broadcasts on Friday with the return of retail investors to the market, a meme which the print media is also now running amok with.

Still, when even Greece - up 3.97% to best all European bourses - appears to be on the mend, optimism abounds. Now if only we could do something about Apple (AAPL), fresh from its 12% tumble. This morning in economics, consensus calls for December pending home sales to tick up at 10:00 a.m. Eastern.

In earnings action, it's the start of another frenetic week for fourth quarter announcements, with today's releases due to include Biogen Idec (BIIB), BMC Software (BMC), Caterpillar (CAT), MicroStrategy (MSTR), Ryanair (PINKY: RYAAY), Seagate Technology (STX), Steel Dynamics (STLD), VMware (VMW), Yahoo (YHOO), and Zions Bancorporation (ZION).

ACADIA Pharmaceuticals (ACAD): The stock is assigned an Outperform at Cowen.

Akorn, Inc. (AKRX) RBC Capital resumes Sector Perform rated research, and a $14 price objective, on AKRX.

DaVita (DVA): Shares are begun with a Market Perform by Sanford Bernstein.

Heineken (PINK:HINKY): The Dutch brewing giant gets initiated at an Outperform by Sanford Bernstein.

Legacy Reserves (LGCY): The limited partnership is launched with a Buy at Ladenburg, whose target price is $30.

LipoScience (LPDX): The company is covered at Buy with WBB Securities.

PBF Energy (PBF): PBF is picked up with a Buy and $40 objective at Dahlman Rose, which says its Northeast product footprint mitigates an element of oversupply risk.

(See also: Stock Downgrades: Apple's Fallen And It Can't Get Up and Stock Upgrades: Dust Off Those Walkmans -- Sony's Suddenly Sexy Again.)
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No positions in stocks mentioned.
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