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New Stock Coverage: Whole Foods Looks Tasty

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

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The Dow (^DJI) fell below 15,000, dropping by triple digits in its worst day in six weeks, which was no way to honor the Father of Economics on his birthday. (Oddly, on the English side of Hadrian's Wall, John Maynard Keynes also entered the world on June 5.) Adding insult to injury for Adam Smith, who like any thrifty Scot absolutely abhorred losing money, the game his ancestors invented suffered a grievous blow as Callaway Golf (ELY) tumbled 2.54% on an analyst downgrade.

Elsewhere Latvia got the green light to enter the eurozone, though one wonders why on Earth it would want to. Continental integration has thus far brought nothing but an influx of boozy Brit bachelor parties to its capital, where drunken tourists relieve themselves on Riga's Freedom Monument. Adding insult to injury for the Baltic country, Ryanair (OTCMKTS:RYAAY) hit the highest level in its history yesterday. The budget carrier has encouraged cross-border travel even as its fee to pee proposals resulted in hordes of inebriated Englishmen waiting until arrival to evacuate their bladders.

Today's quarterly earnings announcements include Ann Inc. (ANN), Ciena (CIEN), Cooper Companies (COO), Dominion Diamond (DDC), Fairway Group (FWM), Jiayuan.com (DATE), J.M. Smucker (SJM), Quiksilver (ZQK), and Vail Resorts (MTN).

Costco (COST): COST is covered with a Buy at Sterne Agee. Shares in the warehouse-club chain, which reported its May same-store-sales this morning, are currently trading higher.

Emeritus Corp. (ESC): Goldman Sachs has a new Neutral on the operator of long-term care facilities.

Enbridge Inc. (ENB): The energy outfit is assigned an Outperform at Macquarie.

ExOne (XONE): XONE gets picked up with a Buy recommendation, and $55 price objective, at Canaccord Genuity.

Freeport-McMoRan Copper & Gold (FCX): The commodity company is a fresh Buy at Jefferies

Green Mountain Coffee Roasters (GMCR): Shares are set an Outperform and $95 price objective at Imperial Capital, which expresses optimism over its industry-leading key Keurig product.

Haemonetics (HAE): JMP Securities has an Outperform on HAE.

Medicines Co (MDCO): Shares are established with an Overweight at Piper Jaffray.

Mohawk (MHK): Barclays begins coverage at Overweight.

Retailers: Sterne Agee begins Buys on Dollar Tree (DLTR), JC Penney (JCP), Macy's (M), and Nordstrom (JWN). It has new Neutrals on Dollar General (DG), Family Dollar (FDO), Kohl's Corp. (KSS), and Saks Inc. (SKS).

Signature Bank (SBNY): Morgan Stanley starts the stock at Overweight.

Vitamin Shoppe (VSI): Sterne starts the stock at a Buy.

Whole Foods Market (NASDAQ:WFM): The gourmet grocer is presently trading higher after getting assigned a bullish Buy rating at Sterne Agee.

(See also: Stock Upgrades: Stick to Henkel Like Glue and Stock Downgrades: Throwing the Book at Barnes & Noble.)
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No positions in stocks mentioned.
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