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New Stock Coverage: LivePerson Far From Dead Money


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

MINYANVILLE ORIGINAL Investors, encouraged by Monday's evidence that making money is so easy even the government is occasionally able to do it, duly sent the Dow (^DJI) up for a fourth day in five. The index now stands at its highest level since the recession started in December 2007.

On this the birthday of the bard of Baltimore, H.L. Mencken can crack a celestial smile as Charm City's own Legg Mason (LM) gained 4.42%, and with the Orioles back in a first place tie to boot. The Old Lime State had another new reason to celebrate as local hero WSB Holdings (WSB) surged 82.88% to top the Nasdaq (^IXIC).

Apple's (AAPL) imminent iPhone is all the rage but President Obama proudly admits, "I still have a BlackBerry," and saw stock in owner Research In Motion (RIMM) surge 4.34%. Groupon (GRPN), a company crying out for "adult supervision," was indebted to a child - specifically Jason Child, the CFO whose bullish comments sent the stock up 7.96%.

This morning in economics, July wholesale inventories are expected to tick up at 10:00 Eastern. On the corporate front, National Technical Systems (NTSC), Pall Corp. (PLL), and Streamline Health Solutions (STRM) are all due to announce earnings.

Apollo Commercial Real Estatee (ARI): Shares are initiated with a Market Perform at JMP Securities.

ArQule (ARQL): The stock is an Outperform at Burrill Institutional Research, which assigns a price objective of $10. The main value driver is Tivantinib, an oral inhibitor of the c-Met receptor tyrosine kinase.

Credit Card Companies: MasterCard (MA) and Visa (V) are each initiated with Outperforms at Pacific Crest, which assigns respective objectives of $500 and $150.

Demandware (DWRE): The stock is begun with a Buy at Janney Capital.

Fortnet: (FTNT): FTNT is a fresh Outperform at Northland Securities.

Glu Mobile (GLUU): GLUU gets initiated with a Buy at B. Riley, whose target is $6.50.

LivePerson (LPSN): Benchmark launches LPSN at a Buy and establishes a $22 target price. The company, in its view, can become a key player in the ecommerce, customer self-service, and call center infrastructure software markets.

Nobel Biocare (NBHGY): Shares are a new Neutral at HSBC Securities. (SOHU): Citigroup starts Buy rated research, and a $63.70 price target, on SOHU.

Standard Motor (SMP): Shares are launched with a Buy at Bank of America-Merrill Lynch.

(See also: Stock Downgrades: Potash Up In Smoke? and Stock Upgrades: Kohl's Can Be Hot Stock.)
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No positions in stocks mentioned.
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