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New Stock Coverage: Unearthing Treasures in eBay's Attic


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

MINYANVILLE ORIGINAL At the movies it's 1987 all over again, but mercifully markets have so far managed to avoid the fate they experienced on October 19 of that year. Indeed superstitious sorts will cheer last week's announcement that Anything Goes, whose earlier iteration opened on Black Monday, is set to close. Dow Industrials (^DJI) advanced 1.70%, ending with their first successive triple-digit increases of 2012, amid renewed hopes for further fiscal stimulus from the Fed. The world kept a watchful eye on elections in Greece, France, and Egypt as American net worth fell to its lowest level since the election year of 1992. Consumer inflation fell in May by the most in three years but the New York Post never got the memo, its cover price having now doubled in a year. (A penny for the thoughts of the paper's founder Alexander Hamilton, our first Secretary of the Treasury.)

Beam Inc (BEAM): The recent spirits spin off, whose other brands include Courvoisier, Maker's Mark, and Skinnygirl, is initiated with an Equal Weight at Morgan Stanley.

3D Systems (DDD): JPMorgan has a new Neutral, and $34 price objective, on DDD.

eBay Inc (EBAY): Shares are initiated with an Outperform at Keefe Bruyette.

OncoGenex Pharmaceuticals (OGXI): The stock is begun with a Buy recommendation at Needham, whose target price is $30. They say the pivotal SYNGERY trial is on track to complete patient enrollment in the fourth quarter of 2012.

Yongye International (YONG): Shares are begun with a Hold at Brean Murray.

(See also: Stock Downgrades: No Fun on the Farm for Tractor Supply and Stock Upgrades: Groupon Today's Daily Deal.)
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