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New Stock Coverage: Campbell Soup Not Hot Stock in August


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

MINYANVILLE ORIGINAL Volume was anemic, gains slight, and advances almost entirely given up in the final half hour. Equities, therefore, are far from booming but the Boomtown Rats' siren song of the '70′s, I Don't Like Mondays, is at long last no longer an accurate description of the stock market. (That pop record, incidentally, was penned after a shooting spree 33 years ago; it's truly tragic to see how little has changed.) The Dow (^DJI) average snapped an astonishing streak of nine straight Monday swoons as shares ended at a three-month peak. Among blue chips, Kraft (KFT) hit a multi-year high on an analyst upgrade. The maker of Singles cheese showed that breaking up ain't hard to do, setting a date of October 1 for its split into two companies.

China's Kingold Jewelry (KGJI) jumped 9.46%. The country leads America 64-to-63 in Olympic medals as I write but, given its alchemist's ability to turn gold into lead - or even toxic cadmium - with impunity, expect the final medal count to change. (CYOU), up 18.74%, and (SOHU), which surged 17.75%, both have Beijing beaming with pride. Its electronic peers in China recently declared war on puns, thus they will be disgusted by the recent bull market in headlines like "dark Knight" and "long Knight" over at Knight Capital (KCG), whose 24.20% tumble made it easily the NYSE's poorest performer. This despite the market maker getting a lifeline of $400 million, or what Uncle Sam squanders every sixty minutes.

Today's quarterly earnings are expected to include Arcos Dorados (ARCO), Blount International (BLT), Cablevision (CVC), Fossil (FOSL), Intercontinental Hotels (IHG), Molson Coors (TAP), Office Depot (ODP), (PCLN), Sirius XM Radio (SIRI), and Walt Disney (DIS).

Biotechnology Stocks: Lazard Capital launches Neutral rated coverage on Alexion Pharmaceuticals (ALXN), Incyte (INCY), and Regeneron (REGN). It begins Buys on BioMarin (BMRN), Pharmacyclics (PCYC), Questcor (QCOR), and Vertex (VRTX).

Campbell Soup (CPB): Shares are initiated with a Hold at Jefferies.

Concur Technologies (CNQR): The stock is a new Buy at Nomura.

Discovery Labs (DSCO): DSCO is initiated with a Buy at Lazard.

Oil States International (OIS): Dahlman Rose resumes Buy rated research on OIS and assigns a price objective of $99. Steady growth and defensive earnings mix are among the attractions.

Solera Holdings (SLH): Shares are assumed with a Market Perform at William Blair.

Splunk Inc (SPLK): The stock is an Outperform at Credit Suisse.

Technology Stocks: Dell Inc. (DELL): The computer company is a new Neutral at UBS, which begins Buy rated coverage on NetApp (NTAP). A sell and $16 target is assigned to Dow member Hewlett-Packard (HPQ), which rose sharply yesterday but breached a fresh seven and a half year low late last week.

Virtual Piggy (VPIG): The micro cap is initiated with an Outperform at EntryPoint Advisors, whose target is $5.

Wal-Mart Stores (WMT): Stephens starts the Dow (^DJI) member, recently trading at all-time highs, with an Overweight.

(See also: Stock Downgrades: Dark Days Not Over for Knight and Stock Upgrades: Coach Can Recapture Winning Formula.)
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No positions in stocks mentioned.
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