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New Stock Coverage: Cemetery Stock Stewart Enterprises Back From the Dead


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

MINYANVILLE ORIGINAL A week famous for fireworks started with a damp squib, even if Bristol-Myers Squibb (BMY) did its best to enliven proceedings with a $5.3 billion acquisition of Amylin (AMLN), which sent that stock skyrocketing 8.88%. Vacation volume in a tight trading range saw shares end mixed as markets endured a case of the Mondays.

Italy, fresh from being beaten by Spain in the Euro 2012 fútbol final, enjoyed the last laugh as its jobless rate fell for the first time since February 2011 while Madrid reported a eurozone high unemployment rate of 24.6%. Love seat maker Natuzzi (NTZ), whose stylish sofas represent the best of Milanese design, jumped 4.94% but Tom Cruise, who once professed his love for Katie Holmes on a couch, was too busy getting divorced to care.

Ahead of the July 4th holiday, markets will close early, and no quarterly earnings of note are scheduled. In economics, May factory orders are expected to show a slight increase at 10:00 a.m. Eastern.

Associated Estates (AES): Bank of America-Merrill Lynch launches Neutral rated research on AES.

BioClinica (BIOC): The small cap stock is begun with a Buy rating at Benchmark Company, whose price objective is $8. The near-term business outlook appears favorable and management is hopeful that it could periodically win significant enterprise contracts to accelerate eClinical product adoption.

BioDelivery Sciences (BDSI): Shares are initiated with an Outperform at JMP Securities.

GrafTech International (GTI): GTI gets initiated with a Neutral at Goldman Sachs.

Philips Electronics (PHG): The stock is a new Buy at Nomura.

RealD (RLD): Imperial Capital rolls out In-Line rated research on RLD, assigning a price objective of $14.75.

Regional Banks: American National Bankshares (AMNB) and Sandy Spring Bancorp (SASR) are each assigned Market Performs at Raymond James.

Standex International (SXI): Roth Capital starts Neutral rated research.

Specialized Health Services: HealthSouth (HLS) is begun with a Buy at UBS, which establishes new Neutrals on Select Medical (SEM), Kindred Healthcare (KND), Sun Healthcare (SUNH), Skilled Healthcare (SKH), and Dentsply (XRAY).

Stewart Enterprises (STEI): The funeral home operator is initiated with a Buy at UBS, whose objective is $8.50.

SXC Health Solutions (SXCI): Shares are resumed with an Overweight at JPMorgan.

(See also: Stock Downgrades: Raspberries Keep Coming for Research In Motion and Stock Upgrades: Eastman Chemical Shares Set to Head North.)
No positions in stocks mentioned.
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