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: WageWorks Hits Pay Dirt


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

MINYANVILLE ORIGINAL You know things are bad when Iraq, whose petroleum production is suddenly described as both "booming" and "soaring," is the biggest success story in the global economy. The S&P 500 Index (^GSPC), having dropped 6.3% in May, started June with its single worst day of the year and the Dow (^DJI) is now negative for 2012 amid a worldwide wall of woe. A scant 69,000 jobs were added in the US for the month of May. Meanwhile growth in China is slowing sharply, the UK endures its steepest manufacturing slide since 2009, and Indian GDP grew at its weakest pace for five years. Although at least the latter can content itself in the knowledge that its native sons and daughters have now won five straight spelling bees, which would appear to rule them out of ever running for the presidency. Today in economics, April factory orders are expected to tick up at 10:00 a.m. Eastern. In earnings action, American Superconductor (AMSC), Dollar General (DG), Gold Reserve (GRZ), Hooker Furniture (HOFT), Shuffle Master (SHFL), and Zuoan Fashion (ZA) are all due to report results.

American Capital Mortgage (AMCC): Shares are initiated with an Outperform at Credit Suisse.

Facebook (FB): The stock is a fresh Underperform at Sanford Bernstein.

Galena Biopharma (GALE): The small cap is covered with a Buy at Cantor Fitzgerald, which establishes a $4 price target. It has high hopes for a Phase III trial with NeuVax for the prevention of breast cancer.

Inphi (IPHI): IPHI is upgraded to Overweight from Neutral at Piper Jaffray.

Overland Storage (OVRL): Shares are begun with a Buy at Needham, whose price objective is $3.25.

PG&E Corp (PCG): PCG is picked up with an Equal Weight at Morgan Stanley.

Solera (SLH): Shares are started with Equal Weight by Barclays.

WageWorks (WAGE): WAGE is initiated with an Outperform at William Blair.

Western Asset Mortgage (WMC): The stock is begun with a Buy at both Citigroup and Jefferies.

(See also: Stock Upgrades: Bank of America Back in Business? and Stock Downgrades: No Miracle on 34th Street for Macy's.)
< 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.
Featured Videos