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: Warm Welcome for Hot Topic

By

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

PrintPRINT
MINYANVILLE ORIGINAL Stocks dropped, with the Dow (^DJI) snapping a three-session winning streak to finish with fractional declines amid anemic volume on a day dominated by Germanic overtones. While Treasury Secretary Tim Geithner, whose father was of Teutonic descent, met with Berlin's Wolfgang Schäuble, a Deutsche Bank (DB) downgrade of JPMorgan (JPM) sent the latter tumbling 2.03%.

Not that the former can afford to indulge in any $10 words such as schadenfreude, having just this morning announced its Q2 pretax profit plunged 63%. Astonishingly, yesterday marked the ninth straight week in which blue chips have fallen on Monday. Sun days are scarcely any better, what with Suntech Power (STP) slumping 14.65% after admitting serious issues over German bonds it accepted as collateral. Deutsche Bank did at least exert a positive impact on Sprint (S), which continued its recent surge to add on another 4.64% after analysts at the financial firm took up their price target on the telecom stock.

This morning, the July Chicago Purchasing Managers' Index is out at 9:45 a.m. Eastern, and this month's consumer sentiment survey from the Conference Board arrives at 10:00 a.m. 16% of S&P 500 companies report earnings this week, with today's announcements expected to include Aetna (AET), BP Plc (BP), Discovery Communications (DISCA), Fiat (FIATY), Honda (HMC), Panasonic (PC), Pfizer (PFE), and Thomson Reuters (TRI).

Cable Companies: Jefferies has Holds on Cablevision (CVC) ($15 price objective), Charter Communications (CHTR) ($79), and Dish Network (DISH) ($31.) It begins Buys on Comcast (CMCSA) ($36), DirecTV (DTV) ($59), and Time Warner Cable (TWC) ($100.)

DFC Global (DLLR): Shares are covered at Outperform by Credit Suisse, whose target price is $23.

Exelon (EXC): The nuclear power play is picked up with an Equal-Weight at Morgan Stanley.

Hot Topic (HOTT): Shares are assigned a Positive recommendation, and $15 price target, at Susquehanna.

OmniVision (OVTI): Stephens starts coverage at Overweight.

On Assignment (ASGN): The stock is begun with a Buy at Deutsche Bank.

ReachLocal (RLOC): ThinkEquity rolls out Buy rated research, and a $15 target, on RLOC.

Tranzyme (TZYM): Cowen covers the company at Outperform.

Watsco (WSO): Lazard launches Neutral rated research on WSO.

Western Asset Mortgage (WMC): Shares are initiated with a Buy at Compass Point, whose target is $21. Catalysts include an increasing dividend and only modest share-price premium to book value.

(See also: Stock Upgrades: Facebook Finally Finds a Friend and Stock Downgrades: Analyst Tires of Michelin.)
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.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE