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New Stock Coverage: Bulls Are Eyeing Arrow Electronics


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

MINYANVILLE ORIGINAL And on the seventh day, stocks fell. The S&P 500 (^GSPC) snapped a six-session winning streak, its longest such run since 2010, amid the lowest volume of the year. Bank of America (BAC), whose Merrill Lynch unit was once a bull in China's shop, contributed to the angst by cutting its growth estimate for the Asian powerhouse.

Rocky Mountain Chocolate Factory (RMCF), pride of the Centennial State, rose 9.26% to a fresh 52-peak, showing that the CDC has a surprising sense of humor on the day it announced Colorado has the country's lowest obesity rate. Peregrine Pharmaceuticals (PPHM) jumped 24.89% but the chickens are coming home to roost at Peregrine Financial.

Today in economics, June business inventories are expected to slip slightly from the previous month's pace at 10:00 a.m. Eastern. In earnings action, Bob Evans Farms (BOBE), Cache Inc. (CACH), Dick's Sporting Goods (DKS), Estée Lauder (EL), Flowers Foods (FLO), GOL Linhas Aéreas Inteligentes (GOL), Home Depot (HD), JDS Uniphase (JDSU), Myriad Genetics (MYGN), TJX Cos. (TJX), Valspar (VAL), and Towers Watson (TW) are all due to report results.

ARM Holdings (ARMH): Evercore assigns an Overweight on ARMH.

Bedding Stocks: Select Comfort (SCSS) is begun with an Overweight at Barclays, which is Underweight on rival Sealy (ZZ).

Chinese Online Games: Citigroup has new Neutrals on (NTES) and Shanda Games (GAME). It is more bullish on (CYOU), beginning at a Buy, along with Giant Interactive (GA) and Perfect World (PWRD).

Durata Therapeutics (DRTX): Credit Suisse covers the company at Outperform.

Huntington Ingalls (HII): The stock is a new Neutral at JPMorgan.

Kayak Software (KYAK): Shares are a Buy at Deutsche Bank, a Neutral at Piper Jaffray, and a Hold at Stifel Nicolaus.

Molycorp (MCP): The stock is up before the bell after being resumed with an Overweight at Morgan Stanley.

Palo Alto Networks (PANW): The Internet firewall provider, a recent IPO, is picked up with an Equal Weight at Morgan Stanley and a Strong Buy at Raymond James, whose price target is $74.

Synnex (SNX): Crédit Agricole starts the business services outfit at a Buy.

Technology Stocks: Crédit Agricole assigns Outperforms on Arrow Electronics (ARW) ($41 price objective), Avnet (AVT), and Tech Data (TECD). It rates Ingram Micro (IM) an Underperform.

(See also: Stock Upgrades: Elan Has Plenty of Pizzazz and Stock Downgrades: Groupon Gets Clipped.)
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