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New Stock Coverage: Quantum Jump for LeapFrog (NYSE:LF)


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

MINYANVILLE ORIGINAL Amid a widening wall of worry from Peoria to Bavaria, Dow Industrials (^DJI) dropped on a Monday for the fifteenth time in seventeen weeks. An iffy earnings forecast out of Caterpillar (CAT) twinned with a fifth straight decline in German business sentiment to pressure markets.

Bourses had been in a bad mood from the off, after Der Spiegel magazine reported Greece's budget shortfall is several billion off of previous projections. This would hardly be the first time the birthplace of Euclidean mathematics had fudged its figures. Yet Athenians can rightly grumble that a publication produced in the country that just celebrated Oktoberfest in September needs to do a little fact checking of its own.

Today in economics, the Conference Board's September consumer sentiment survey is expected to tick up at 10:00 a.m. Eastern. In corporate earnings action, quarterly results are due from Carnival Corp. (CCL), FactSet Research Systems (FDS), Neogen (NEOG), Synnex (SNX), and Texas Industries (TXI).

Ampio Pharmaceutics (AMPE): Aegis initiates the shares with a Buy, assigning an $11 price objective.

Banks: Bank of New York Mellon (BK) and State Street (STT) are each begun with a Buy at Citigroup, which has a new Neutral on Northern Trust (NTRS).

Fusion-io (FIO): FIO is a fresh Buy with Wunderlich, which has a $38 price target on a firm it says is an early mover in the PCIe flash market with a rich software portfolio.

LeapFrog (NYSE:LF) Shares are launched with a Buy at SunTrust, whose target is $14.

Life Technologies (LIFE): LIFE is initiated with an Outperform at William Blair.

NVIDIA (NVDA): Roth Capital resumes Buy rated research on NVDA.

Pandora Media (P): P is picked up with a Reduce rating at Nomura.

STMicroelectronics (STM): Shares are a new Neutral at HSBC Securities amid weaker automotive and industrial demand.

Sequenom (SQNM): Credit Suisse starts the small cap at Underperform.

Synergy Pharmaceuticals (SGYP): Shares are begun with a Buy at Cantor Fitzgerald.

Walgreen (WAG): The stock gets reinstated with a Conviction Buy at Goldman Sachs, whose target is $43.

(See also: Stock Upgrades: Shuffle up to Buffalo Wild Wings (NASDAQ:BWLD) and Stock Downgrades: Time to Check Out of Marriott (NYSE:MAR).)
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