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New Stock Coverage: Cash America No Pawn Star


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

MINYANVILLE ORIGINAL On the birthday of Adam Smith, father of economics and he of the hidden hand, markets got a helping hand from economic data. A positive services sector report enabled the Dow (^DJI) to snap a four session slump although volume was once again anemic. G-7 finance ministers held a conference call on the European debt crisis, showing their Midas touch remains intact for telecoms – the only positive sector in the month of May – which were yesterday's poorest performer. Today in economics, the Fed's beige book survey of regional economic conditions is released at 2:00 pm Eastern. In earnings action, Annie's Inc. (BNNY), Brown-Forman (BF-B), Cyberonics (CYBX), Harry Winston Diamond (HWD), Men's Wearhouse (MW), Stewart Enterprises (STEI), and Vail Resorts (MTN) are all due to report results.

Cash America (CSH): The lender is a new Neutral at Janney Montgomery Scott.

CIT Group (CIT): Shares are begun with a Buy at Janney.

Edgen Group (EDG): The stock is initiated with a Buy at Citigroup.

Facebook (FB): Shares are a fresh Outperform at JPM Securities, whose price objective is $37.

First Republic Bank (FRC): FRC is initiated with an Outperform at Wells Fargo.

Interpublic Group (IPG): The advertising giant gets picked up at Market Perform by brokers William Blair.

Midway Gold (MDW): The small cap is begun with a Buy at Stifel Nicolaus, which says the small cap has a portfolio of development assets in Nevada and Washington with total attributable resources of 4.8 million ounces.

MRC Global (MRC): MRC is initiated with an Underweight at Morgan Stanley.

SLM Corp (SLM): The stock is a new Neutral at Janney Capital.

VeriSign (VRSN): Shares are initiated with an Outperform at Wells Fargo.

(See also: Stock Upgrades: Time to Say Hello to Tata Motors? and Stock Downgrades: Ryanair Set for Hard Landing.)
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