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New Stock Coverage: Sally Beauty (NYSE: SBH) Pretty as a Peach

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

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MINYANVILLE ORIGINAL Mayor Bloomberg's declaration of Thirteen Week, although it hardly impacted Hizzhonor's net worth, unwittingly ushered in a 0.13% five-session fall for the Nasdaq (INDEXNASDAQ:.IXIC) as markets endured their first weekly decline of the month. The Ig Nobel Prizes honored groundbreaking work on why coffee spills when you walk but left unanswered the key question of a run on Green Mountain Coffee Roasters (GMCR) that saw it tumble 13.88% in two days.

Fresh from 16,000 layoffs, Bank of America (BAC) dropped 4.6% before announcing a loss of $10 million. $10 million was what FedEx (FDX) felt flush enough to pay the winner of a golf tournament, doubtless dismaying shareholders who saw the stock slump some 6.4%.

No top-tier economic data due today but quarterly earnings announcements are expected out of Comtech Telecommunications (CMTL), Lennar (LEN), Paychex (PAYX), Red Hat (RHT), and Thor Industries (THO).

Genworth Financial (GNW): The insurance outfit is a new Neutral at Macquarie, which establishes a price objective of $7.

Halcon Resources (HK): Shares are initiated with an Overweight at Barclays.

inContact (SAAS): Piper Jaffray picks the stock up at Overweight and assigns a $9 target price.

On Assignment (ASGN): Wells Fargo has a new Outperform on the name.

Sally Beauty Holdings (NYSE:SBH): Shares are reinstated with an Outperform at Credit Suisse, which has a $32 target.

Software AG (STWRY): HSBC Securities starts the stock with an Overweight.

(See also: Stock Upgrades: Mad Men Happy at Lamar Advertising (NASDAQ:LAMR) and Stock Downgrades: Double Trouble for Darden Restaurants (NYSE:DRI).)
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No positions in stocks mentioned.
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