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New Stock Coverage: Analysts in No Rush to Buy Swift Transportation


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

MINYANVILLE ORIGINAL Stocks fell for a third day, buffeted by both Ben and the Art of Motorcycle Maintenance. Fed head Bernanke's refusal to commit to further stimulus measures, allied to iffy earnings from the likes of Harley-Davidson (HOG), contributed to a distinctly downbeat start to the month. Harley ended off 3.61%, though that was far better than an initial 12% tumble it appeared to take early on. The dire fall originally reported was in fact erroneous, and attributable to another automated trading mishap as a dark Knight (KCG) for computers interrupted what exactly thirty years earlier had been a banner day for the industry. (To answer the classic question posed by The Beatles - "Will you still need me, will you still feed me when I'm sixty-four?" - the answer's yes, so long as it's a Commodore.) Avon (AVP) was in no position to put lipstick on a HOG after itself losing 1.23%. The cosmetic company's Q2 profit slid 70% as it looks to wind down a bribery investigation into ex CEO Andrea Jung. Forever young is always the idea at Allergan (AGN), and there were frozen smiles all round for the Botox maker after it rose 4.33%. Today in economics, June factory orders are expected to tick up slightly at 10:00 a.m. Eastern. In earnings action, Adidas (ADDYY), BNP Paribas (BNPQY), Cigna (CI), Duke Energy (DUK), General Motors (GM), Kellogg (K), Sharp (SHCAY), Time Warner Cable (TWC), and Zipcar (ZIP) are all due to report results.

Avago Technologies (AVGO): Goldman Sachs starts the semiconductor stock at a Neutral, assigning it a price objective of $40.

Cameron International (CAM): The oil outfit is begun with a Buy at Goldman, whose target price is $70.

Gold Resource Corp (GORO): GORO gets assigned an Accumulate and $22 target at Global Hunter.

Micrel (MCRL): Shares are an Outperform with Wells Fargo.

Trucking Stocks: Longbow launches new Neutrals on Heartland Express (HTLD) and Swift Transportation (SWFT).

(See also: Stock Upgrades: Dark Days Finally Over for First Solar? and Stock Downgrades: Don't Lose Your Shirt in Abercrombie.)
No positions in stocks mentioned.
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