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New Stock Coverage: Analyst Not Puckering Up to Avon


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

MINYANVILLE ORIGINAL Stocks ended mixed on light volume, with the Dow (^DJI) snapping a three-day skid even as the S&P 500 (^GSPC) extended its slump to four straight sessions. Among stand-out equities, hardwood floorboard firm Lumber Liquidators (LL), upgraded this morning, rose 26.80% to an all-time high, even if a broken $77,615 bottle of 224-year-old cognac was an even more expensive item on the ground. Iconix Brand (ICON), maker of London Fog raincoats, gained 4.78%, reassuring Brits who blamed disastrous GDP data on unexpected drizzle. Panera Bread (PNRA), based in America's perennially most dangerous city of St. Louis, surged 8.07%, showing that the old Roman maxim of avoiding riots with 'bread and circuses' remains relevant.

Today in economics, June pending home sales are due at 10:00 a.m. Eastern. In earnings action, expect announcements out of AstraZeneca (AZN), Banco Santander (SAN), Coinstar (CSTR), Dunkin' Brands (DNKN), Expedia (EXPE), Facebook (FB), Gilead (GILD), Rolls-Royce (RYCEY), Starbucks (SBUX), Volkswagen (VLKAY), and Zimmer (ZMH).

Avon Products (AVP): Shares are initiated with a Market Perform at Wells Fargo.

Eastman Chemical (EMN): Lazard launches Buy rated research on EMN.

Horsehead Holding (ZINC): Shares are initiated with a Buy at CRT Capital, whose price target is $12.

Urban Outfitters (URBN): CLSA Securities starts Buy rated coverage.

(See also: Stock Downgrades: 'Farmville' Owner Zynga Taken to Woodshed and Stock Upgrades: Sky's the Limit for Flooring Firm Lumber Liquidators.)

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No positions in stocks mentioned.
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