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New Stock Coverage: Tesla Motors Inc Is in the Driver's Seat


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

Japan, whose current ocular obsession is awfully odd, continued to give investors everywhere the evil eye. Ongoing concerns about the Nikkei (INDEXNIKKEI:NI225), which dropped another 1.5% and is now down for four straight weeks, are clearly contagious and helped send the Dow (^DJI) down 1.17%.

In a notably sleepy week for economic data, investors didn't dose if they owned either Starbucks (SBUX) - which finished Friday at the highest level in its history - or Green Mountain Coffee (GMCR), which jumped 3.0% even as many other stocks imploded. (How one snoozing German banker could do with a jolt of java.)

Moving from coffee to the "Three Ts," a G-8 summit focusing on "Trade, Tax, & Transparency" begins today in Belfast. Wall Street normally loves the latter quality, but little good it did Lululemon (LULU). Its shares slumped 18.8% on news the CEO was leaving after a barely-there pants problem.

And fresh fruit outfit Dole Foods (DOLE) surged 29.66%. The Fed, whose increasingly muddled taper talk seems straight out of the song "Yes, We Have No Bananas," can take heart.

BIOLASE Inc (BIOL): Shares are begun with a Buy rating and $6.50 price objective with WallachBeth, which says the firm's latest laser systems will continue to gain favor with dental professionals.

Blackstone Mortgage Trust Inc (BXMT): JPMorgan picks up the property management outfit at Overweight.

ChannelAdvisor Corp (ECOM): The stock is a new Buy at Needham, whose target price is $22. Sales capacity has increased three times in recent years, the broker notes approvingly.

Synergy Pharmaceuticals Inc (SGYP): Citigroup starts Buy-rated coverage on SGYP.

Tesla Motors Inc (TSLA): The electric car outfit, up 235.34% in the past year, gets assigned an Overweight at Global Equities.

T MOBILE US INC (TMUS): Shares are begun with a Neutral and $22 price target at Robert W. Baird, which expects ARPU (Average Revenue Per User) to come under pressure.

Texas Roadhouse Inc (TXRH): Bank of America-Merrill Lynch launches coverage at a Buy.

(See also: Stock Upgrades: Find Room in Your Portfolio For Extra Space Storage, Inc. and Stock Downgrades: Red Hat Inc Goes Cap in Hand.)
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