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New Stock Coverage: Spirit Airlines All Set to Levitate


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

Hollywood finds itself, as ever, a step behind the times and fighting the last war. On Friday, a movie called Assault on Wall Street opens, telling the tale of an irate client who went postal on a big bank during the financial crisis. This as 2008 increasingly seems like ancient history to investors, who yesterday saw the S&P 500 (^GSPC) surge to its fourth straight record close.

The index's single best performer on Tuesday was Fossil (FOSL), with the watchmaker jumping 9.01%. Lehman Brothers does indeed look like a long time ago when it is now all about the Kartsotis Brothers, the siblings who founded the firm. (Who says Greeks can't make money?)

Elsewhere shareholders certainly couldn't "blame Canada," not with Ontario's own Tim Hortons (THI) advancing 1.71% to the highest level in its history. Their delicious donuts are apt to send you to the gym, which may be why Vancouver (Washington's) upgraded fitness firm Nautilus (NLS) plumed up 19.97% as the smart money flocked to its Bowflex brand dumbbells.

And on this, the anniversary of Victory in Europe Day - celebrating the end of a conflict that killed 60 million in intercontinental butchery - scientists showed that all Europeans are, in fact, related. You would never know it, judging by the endless issues over its common currency.

A quiet week for economic releases rolls on, with no top-tier data due. In earnings action, AOL Inc. (AOL), Deutsche Telekom (PINK:DTEGY), Green Mountain Coffee Roasters (GMCR), Groupon (GRPN), News Corporation (NWSA), Sodastream (SODA), Tesla Motors (TSLA), Telefónica (TEF), and Wendy's (WEN) are all expected to report results.

Bonanza Creek Energy (BCEI): Northland Securities starts the stock at Outperform.

Children's Place (PLCE): Shares are a new Neutral at Piper Jaffray.

Eaton (ETN): The electronics outfit is assigned an Outperform by Sanford Bernstein.

Spirit Airlines (NASDAQ:SAVE): The low cost carrier, up 29.91% in the past 12 months having hit an historic high on Tuesday, is initiated with a Buy at Buckingham.

Travelers (TRV): Raymond James resumes the insurance outfit, a key Dow (^DJI) component, at Outperform.

(See also: Stock Upgrades: Time to Stop Blowing Raspberries at Lululemon? and Stock Downgrades: Bed Bath & Beyond Sleeps With the Fishes.)
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