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New Stock Coverage: 1-800-Flowers Coming Up Roses


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

MINYANVILLE ORIGINAL Markets rejoiced as a critical Fed board member again worked his magic. But enough about Jamie Dimon, whose DC apology tour exerted the desired effect on JPMorgan (JPM), which jumped 3.02% to top all Dow (^DJI) advancers. Alas fellow Ivy League baby boomer Ben Bernanke lacked a similar Midas touch, with S&P 500 (^GSPC) shares snapping a four session win streak after he spoke. You did just fine if you were long Dutch Twist, Texas Twist, Sandwich Twist, Gourmet Twists, Mr. Twister, and even Seriously Twisted! For parent company, pretzel maker J&J Snack Foods (JJSF), advanced to an all-time peak. The extension of "Operation Twist," however, left investors distinctly unimpressed.

Among standout stocks, Swedish clothing company Hennes & Mauritz (HNNMY) rose 4.27% on impressive earnings. Its opening of a flagship Fifth Avenue store in March 2000, the very month the Nasdaq (^IXIC) peaked, proved the kiss of death for investors, and now the company is to target of all places, Greece. Talk about a glutton for punishment.

Today in economics, May leading indicators and existing home sales, along with the Philadelphia Fed Index for June, are all out at 10:00 a.m. Eastern. In earnings action, American Software (AMSWA), Apollo Group (APOL), CarMax (KMX), Carnival Corp. (CCL), ConAgra (CAG), and Rite Aid (RAD) are all due to report results.

AES Corp. (AES): AES is initiated with a Neutral at Macquarie.

AO Smith (AOS): AOS is initiated with a Market Perform at BMO Capital.

ASML Holding (ASML): The semiconductor stock is trading higher ahead of the open after being started at Outperform by Sanford Bernstein, which establishes a price objective of $75.40

Automatic Data Processing (ADP): ADP is initiated with a Positive at Susquehanna.

Brookfield Infrastructure (BIP): BIP is a new Neutral at Citigroup.

Core Labs (CLB): HSBC Securities covers the company at a Neutral. Its target price is $140.

Cornerstone OnDemand (CSOD): Shares are covered with an Outperform recommendation, and $28 target, at Northland Securities.

Diebold (DBD): The stock is a new Outperform at Imperial Capital, which feels expansion of the middle class in emerging markets could substantially increase global demand for ATMs and related services.

Facebook (FB): FB is a fresh Hold at Argus, which notes its botched IPO has raised a number of concerns about the business model.

Infinera (INFN): The stock is a Hold at Needham.

Laboratory Corp (LH): Canaccord Genuity launches Buy rated coverage on LH.

National Oilwell Varco (NOV): NOV is a new Overweight at HSBC Securities, whose target is $97.

1-800-Flowers (FLWS): Shares are a fresh Buy at The Benchmark Company. As the company adds complementary brands in the Gift Food category both organically and through acquisition, it expects scale benefits could drive margins higher.

Jazz Pharmaceuticals (JAZZ): Shares are reinstated with an Overweight at Barclays.

Onyx Pharmaceuticals (ONXX): The stock, upgraded elsewhere today, is begun with a Buy at Deutsche Bank.

Quest Diagnostics (DGX): Canaccord Genuity has a Hold.

Solazyme (SZYM): Shares are started with a Buy at ThinkEquity.

Southwest Airlines (LUV): LUV is a new In-line at Imperial Capital, whose target is $10. The company's costs have been growing faster and revenue more slowly than the legacy carriers.

VeriFone (PAY): Shares are a new Neutral at Susquehanna.

Whole Foods (WFM): The stock, at all time highs, is initiated with a Buy at SunTrust.

Woodward Inc (WWD): Credit Suisse covers the industrial company at Outperform.

(See also: Stock Downgrades: Under Armour Under Water and Stock Upgrades: TJX Taking it to the Maxx.)
No positions in stocks mentioned.
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