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New Stock Coverage: Ruckus Wireless Inc Gets Ready to Rumble


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

Egypt, whose main market swooned 13% in June, may be in denial, but on Wall Street the almighty dollar continues to give bear markets the evil eye. (King Tut, swaddled in bullion for all time, could at least take some solace from gold jumping 2.6% even as pyramid schemes were collapsing in Cairo.)

An analyst upgrade saw Apple Inc. (AAPL) rated golden delicious once more, rising 3.20% for its best performance since the first week of February. Back then the company was being criticized by David Einhorn for its "Depression-era mentality" but it is now the hedge fund heavy who has a bad case of the blues.

Apple's rival Research In Motion (BBRY) fell further following a quartet of ratings reductions, which would have been a tad more useful had they come before Friday's 27.76% tumble. The pride of Ontario thus met its Waterloo, but a freshly-installed Canuck at the Bank of England enjoyed Canada Day much more. The FTSE 100 Index (INDEXFTSE:UKX) greeted its new guv'nor with an impressive 1.5% gain.

This morning in economics, factory orders for May are out at 10:00 a.m. Eastern. On the earnings front, expect announcements from Acuity Brands (AYI), Constellation Brands (STZ), Greenbrier Companies (GBX), and Zep, Inc. (ZEP).

Align Technology, Inc. (ALGN): Shares of the orthodontic outfit are assigned an Outperform at Robert W. Baird, whose price objective is $45. Its technology is increasingly making its presence felt in dentists' offices, the broker believes.

Blucora Inc (BCOR): The Internet information provider is begun at an Outperform with Wedbush.

Constellium NV (CSTM): Shares are initiated with an Outperform at Credit Suisse.

Dunkin Brands Group Inc (DNKN): Lazard launches Buy-rated research, setting a $51 target price on a stock it says generates good cash flow.

Dynegy Inc. (DYN): The electric utility is started with a Sell at Deutsche Bank.

Global Brass and Copper Holdings Inc (BRSS): Shares, up 4.53% yesterday, are today begun with a Buy at Goldman Sachs.

Groupon Inc (GRPN): The stock is initiated with a Buy and $11 objective with Wunderlich, which notes it is impressively diversifying away from its erstwhile core daily deals franchise.

LightInTheBox Holding Co Ltd-ADR (LITB): Shares are initiated with an Outperform and $17 price objective at Oppenheimer, which cites its significant operating leverage.

Monarch Casino & Resort, Inc. (MCRI): Wells Fargo covers the company at a Market Perform.

News Corporation (NWSA): The media name is a new Buy at Deutsche Bank.

Polaris Industries Inc. (PII): Shares are begun with a Buy at UBS.

Ruckus Wireless Inc (RKUS): Piper Jaffray picks the stock up at Overweight.

Ryder System, Inc. (R): Shares are resumed with a Buy rating and $72 objective with Wunderlich, which sees it as the preeminent way to play the 4.2 million vehicle private fleet conversion space.

Scientific Games Corp (SGMS): Wells starts an Outperform on SGMS.

Textura Corp (TXTR): Saying that the company is about to embark on a big expansion cycle, Oppenheimer assigns an Outperform. Its price target is $35.

Twenty-First Century Fox Inc (FOXA): Morgan Stanley has a fresh Overweight on the recent spin-off.

Yelp Inc (YELP): The stock is a new Outperform at Pacific Crest.

(See also: Stock Upgrades: Las Vegas Sands Corp. Is in Luck and Stock Downgrades: Writing Is on the Wall for A.T. Cross Company.)

Disclosure: Minyanville Studios, a division of Minyanville Media, has a business relationship with BlackBerry.
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