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New Stock Coverage: Hologic Makes Complete Cents


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

MINYANVILLE ORIGINAL Considering the quarter began on statistically the single worst day for stocks, and the month ends on Halloween - with the 25th anniversary of the Crash of '87 thrown in for good measure - stocks didn't start October too shabbily.

The Dow (^DJI), up 161 at one point, did admittedly pare gains as Ben Bernanke started speaking at the Economic Club of Indiana. Its website contains information last updated in 1999 but the Fed head ensured that there was to be no partying like that once-in-a-millennium year for the markets. Bourses in China remained shut for Golden Week, and in Europe - where it's always Golden Week according to an iconic book cover - unemployment reached a record high of 11.4% in August.

No top-tier economic data due today but earnings announcements are expected out of Acuity Brands (AYI), Mosaic (MOS), Resources Connections (RECN), and Xyratex (XRTX).

API Technologies (ATNY): Boutique brokerage C.K. Cooper starts the small cap at a Buy and assigns it a price objective of $4. Among other catalysts, the remilitarization of China & Russia are expected to drive demand for missile defense.

Aruba Networks (ARUN): Shares are initiated with an Outperform at Wells Fargo.

BioLineRx (BLRX): The stock is begun with a Buy at Aegis, whose target price is $11.

Casino Companies MGM Resorts (MGM) and Wynn Resorts (WYNN) are each initiated with Buys at ISI Group, which starts Caesars Entertainment (CZR) at Sell.

DealerTrack (TRAK): Shares are initiated with an Overweight at JPMorgan.

Hillshire Brands (HSH): The packaged foods powerhouse, whose products include Hillshire Farm, and Sara Lee, is started at a Market Perform with Wells.

Hologic (Nasdaq:HOLX) Cowen covers the company at Outperform.

Kraft Foods (KFT): The newly reconfigured entity, which officially split in two last night, is begun with Buys at Jefferies, UBS, and Stifel Nicolaus, which has a $49 target amid strong margin growth potential. Citigroup (Neutral) and Morgan Stanley (Equal-Weight) are less upbeat.

Mondelez International (MDLZV): RBC Capital and Credit Suisse each roll out Outperform rated research on the recent Kraft spin-off, citing its encouragingly large developing market exposure among other favorable factors.

Palo Alto Networks (PANW): The stock is picked up with an Outperform at JMP Securities, whose target is $77.

Quidel (QDEL): The stock is a new Neutral at Cowen.

Spark Networks (LOV): LOV is launched with a Buy at Canaccord, whose target is $10.

SIRIUS XM Radio (SIRI): Shares are up sharply before the bell on a Buy initiation at Bank of America-Merrill Lynch.

(See also: Stock Upgrades: Pan American Silver Good as Gold and Stock Downgrades: Travelers Set to Head South?)
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No positions in stocks mentioned.
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