Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

New Stock Coverage: Don't Stuff All Your Money Under the Select Comfort Mattress

By

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

PrintPRINT
MINYANVILLE ORIGINAL Fifth anniversaries are traditionally celebrated with gifts of wood but, half a decade to the day after stocks hit an all-time high, Wall Street ran out of money trees thanks to an organization founded in Bretton Woods. A global debt warning from the International Monetary Fund - which has ample firsthand knowledge of deficit horror stories - sent shares slumping, with Dow Industrials (^DJI) dropping by triple digits, the S&P 500 (^GSPC) ending off for a third straight day, and Nasdaq (^IXIC) enduring its single worst session since a late-June swoon.

Merck (MRK) hit its highest level since 2008, the year President Obama won the White House, after announcing it is moving from the Whitehouse. A new study showed one of five Americans have no religious affiliation, but True Religion (TRLG) is surging 27.80% before the bell, Einstein's "God letter" began frenzied bidding on eBay Inc. (EBAY), and RadioShack (RSH) - whose former CEO was forced out after fabricating a resume to erroneously include a theology degree from Heartland Baptist Bible College - rose 12.02% in topping the NYSE.

The pace of economic data picks up after a quiet start to the week, with August wholesale inventories out at 10:00 a.m. Eastern and the Fed's beige book due at 2:00 p.m. In earnings action, Costco (COST), Google (GOOG), Helen of Troy (HELE), Host Hotels (HST), and Progressive Corp. (PGR) are all due to report results.

ARM Holdings (ARMH): Shares are initiated with a Neutral at Credit Suisse.

Big Cap Banks: Bank of America-Merrill Lynch launches Buys on both Citigroup (C) and Dow (^DJI) member JPMorgan (JPM).

First Republic Bank (FRC): FRC is a fresh Outperform at FBR Capital, which assigns it a price objective of $40. It says the stock provides a unique opportunity in the small- to mid-cap bank arena in the current low interest rate environment.

Gold Stocks: Morgan Stanley starts Equal-Weights on Agnico-Eagle Mines (AEM) and IAMGOLD (IAG), assigning an Overweight on Yamana Gold (AUY).

Imax Corp. (IMAX): Shares are covered with an Outperform at Credit Suisse, whose price target is $28.

Laredo Petroleum (LPI): LPI is launched with a Buy at C.K. Cooper amid its strong cash flow and production growth.

PHH Corp. (PHH): The credit services company is a new Neutral at Compass Point, whose target is $24.

Ratings Agencies: Moody's (MCO) is started at Equal Weight by Barclays, which begins Standard & Poor's owner McGraw-Hill (MHP) with an Overweight.

Select Comfort (NASDAQ:SCSS): Shares of the adjustable mattresses maker are a new Neutral at SunTrust.

Smith & Nephew (SNN): Société Générale starts Sell rated research on SNN.

Ventas (VTR): RBC Capital resumes the healthcare REIT at Outperform and issues a price objective of $68.

(See also: Stock Downgrades: American Eagle -- An Earthbound Big Bird and Stock Upgrades: Yum Brands Puts Its Money Where Its Mouth Is.)
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE