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New Stock Coverage: Stock Up on Costco Wholesale Corporation

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

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When the papa of Buckingham Palace's latest addition arrived on the scene himself back in 1982, his birth begat the mother of all bull markets. Like father, like son, since the Dow (^DJI) yesterday hit its 28th record high of 2013 to welcome the royal baby into the world. Let us only hope that the future king does not share his ancestor's enchantment with the wireless, for RadioShack (RSH) just fell 5.12%. Great Britons, a famously green-thumbed bunch, sent plenty such gifts to the future monarch, yet that didn't seem to help 1-800-Flowers (FLWS), which slumped 5.02%. Holding your nose is clearly the best current policy in all matters horticultural. And while the situation in Detroit truly stinks, an inebriated Canadian was still willing to brave shark-infested waters to swim there in the wee hours.

This morning in economics, analysts expect an increase in June new home sales at 10:00 a.m. Eastern. On the corporate front, the midpoint of the busiest week for quarterly earnings announcements is upon us. Today's results are due to include Akamai (AKAM), Baidu (BIDU), Boeing (BA), Canon (CAJ), Caterpillar (CAT), Daimler (DDAIF), Eli Lilly (LLY), Facebook (FB), Ford (F), GlaxoSmithKline (GSK), PepsiCo (PEP), Qualcomm (QCOM), and Visa (V).

Costco Wholesale Corporation (COST): The giant warehouse chain is covered with a Buy at Williams Capital Group, whose price objective is $132. Catalysts include solid same-store sales growth and a loyal cardholder clientele. Shares hit the highest level in their history yesterday.

EPL Oil & Gas (EPL): Canaccord Genuity has a Hold on the energy outfit.

Pitney Bowes (PBI): PBI is picked up at a Neutral by Piper Jaffray.

Rosetta Resources (ROSE): Shares are resumed with a Buy recommendation at Canaccord Genuity.

United Parcel Service (UPS): UPS is assigned an Outperform at Credit Suisse.

(See also: Stock Upgrades: Apple Inc. Bites Back and Stock Downgrades: Norfolk Southern Corp. Heads South in a Hurry.)
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No positions in stocks mentioned.
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