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New Stock Coverage: Triumph Group Looks Like a Winner


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

MINYANVILLE ORIGINAL Stocks, down for a fourth straight session, endured a long day as investors went short Knight (KCG). Wall Street was once again a slave to the algorithm as a market maker whose slogan is "The science of trading. The standard of trust" slid 62.82% after a $440 million trading snafu. It now stands at lows last seen in early October 1998. (Back in the khaki-clad, corporate casual heyday of the Gap Inc (GPS), which is much more happily reliving that era after advancing 12.75%.) Mario Draghi also disappointed, the European Central Bank head having earlier pledged to do "whatever it takes" to resolve the continent's crisis. The reality is, it will take prodigious amounts of pain and penury, and investors in search of instant panaceas are unwilling to wait. Abercrombie & Fitch (ANF), famous for salesmen with six-pack abs, fell 14.58% while Weight Watchers (WTW), which caters more to beer bellies, tumbled 12.56%.

Today both houses of Congress, those overworked darlings, are due to rise for summer recess, returning on September 10. This morning in economics, analysts expect the July Institute for Supply Management services index to tick up slightly at 10:00 a.m. Eastern. And in earnings action, the last major week of Q2 reporting seasons concludes with Allianz (AZSEY), Beazer Homes (BZH), Petrobras (PBR), Procter & Gamble (PG), Royal Bank of Scotland (RBS), Toyota Motor (TM), and Viacom (VIAB) all expected to report results.

Aerospace/Defense: Rockwell Collins (COL) is initiated with an In-line at Imperial Capital, which has an Outperform on Triumph Group (TGI). Its price objective on the latter is $77, and margins in the core Aerostructures segment can continue to improve.

Gold Standard Ventures (GSV): Shares are initiated with an Outperform at Macquarie.

Palo Alto Networks (PANW): The recent IPO is picked up with an Outperform at William Blair.

(See also: Stock Upgrades: Pounding the Table on OpenTable and Stock Downgrades: Running Away From Zipcar.)
No positions in stocks mentioned.
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