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

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

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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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No positions in stocks mentioned.
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