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New Stock Coverage: Dollars in Donuts at Dunkin'


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

MINYANVILLE ORIGINAL With stocks slumping for a fifth straight day, it's little wonder a famous financier bought "The Scream." Anxiety once again washed over Wall Street, although earlier losses were almost all gone in the final 60 minutes after the Fed released its June meeting minutes.

American Independence (AMIC) got no post-fireworks bounce, falling 15.77%, and there was enough trouble in the heartland to temporarily knock Europe off the front page. America's farming epicenter of Iowa, still struggling to account for those missing millions at its PFGBest brokerage firm, watched helplessly as milk processor Dean Foods (DF) slid 6.60% and egg processor Cal-Maine Foods (CALM) fell 4.94%.

With an enviable unemployment rate of only 5.1%, the Hawkeye State is however in far better shape than the Golden one. Indeed California's black swan has arrived in the shape of a dead duck. Its goose cooked, San Bernardino became but the latest location to declare bankruptcy. Thus the same city where Richard and Maurice McDonald opened the original McDonald's (MCD), and Glen Bell the first Taco Bell, now lives on increasingly borrowed time and money.

Today's earnings announcements are expected to include AngioDynamics (ANGO), Fastenal (FAST), and Infosys (INFY).

Adobe Systems (ADBE): Janney Montgomery Scott initiates Buy rated coverage on ADBE.

Airlines: Goldman Sachs starts Sells on Delta Air Lines (DAL) and United Continental (UAL). It has new Neutrals on Southwest Air (LUV) and Jetblue Airways (JBLU).

Bruker (BRKR): Shares are begun with a Buy at Cantor Fitzgerald, whose price objective is $16. With below sector average margins, Bruker has significant upside for expansion in the medium-term

Casual Dining: Dunkin' Brands (DNKN) and recent IPO Burger King (BKW) are each initiated with Overweights at Piper Jaffray, which picks up Caribou Coffee (CBOU) at a Neutral.

Capgemini (CGEMY): Shares of the French consulting firm are trading lower in Paris today after Credit Suisse assigned Underperform coverage on the company.

CSX Corp (CSX): The company gets resumed with a Buy at Goldman.

CVS Caremark (CVS): Shares are assigned an Overweight at ISI Group.

Expeditors International (EXPD): The stock is a Sell at Goldman.

FedEx (FDX): Goldman begins coverage with a Buy.

Tech Stocks: Red Hat (RHT) and SAP AG (SAP) are each picked up with Performs at Oppenheimer.

Yadkin Valley Financial (YAVY): The small cap stock is a new Neutral at Compass Point, which has a target price of $3.20.

(See also: Stock Upgrades: Merck Nursed Back to Health and Stock Downgrades: Smithfield Foods Can't Keep Up With The Joneses)

No positions in stocks mentioned.
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