Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

New Stock Coverage: Cash America Not Quite a Pawn Star


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

MINYANVILLE ORIGINAL As Walt Disney (DIS), which yesterday rose 2.28% to the highest level in its illustrious history, can attest, It's a Small World After All. A global village might be good for the House of Mouse, but such international interconnectivity sent the S&P 500 Index (^GSPC) down for a second day, with September already living up to its billing as the weakest month in equities. Poor manufacturing data from China and Europe, allied to a profit warning from FedEx (FDX), that ultimate barometer of worldwide financial health, contributed to the malaise.

Some winners did emerge from the wreckage. With the political season in full swing, none of our present politicians can match the Midas touch of Margaret Thatcher. In the same week her power suit sold for big bucks at auction, the green grocer's daughter will also have been delighted with a 4.30% surge in shares of Safeway (SWY). Meanwhile Bill Clinton tried in a convention speech to party like it's 1999, the Nasdaq's (^IXIC) career year.

New York's Giants, who last night became the first defending Super Bowl champions to lose a season opener for 13 years, tried their level best to turn back the clock to the appointed hour. But Nokia (NOK), which truly came of age on the global stage that February, must feel like the millennium was a million years ago. The company, cut by Deutsche Bank this morning, fell 15.90% yesterday. And Houston's own Francesca's (FRAN), founded in 1999, slid 17.06%. That city clearly has a problem and investors losing their shirts may not see the funny side.

Today in economics, the Institute for Supply Management's August non-manufacturing index is out at 10:00 a.m. Eastern. In earnings action, Aceto Corp. (ACET), Bazaarvoice (BV), Cherokee Inc. (CHKE), Descartes Systems (DSGX), Hooker Furniture (HOFT), Mattress Firm Holding (MFRM), Navistar International (NAV), Quiksilver (ZQK), Smith & Wesson (SWHC), and Ulta Beauty (ULTA) are all due to report results.

American Capital Mortgage (MTGE): Shares are initiated with a Buy at Wunderlich, whose price target is $27.

Arena Pharmaceuticals (ARNA): The stock is an Underperform at Credit Suisse, which assigns a price objective of $6.

Atwood Oceanics (ATW): BMO Capital begins coverage at Outperform.

Cardiovascular Systems (CSII): Shares are launched with an Outperform at Leerink Swann.

Cash America International (CSH): JMP Securities picks up the pawnbroker at a Market Perform.

CIT Group (CIT): Saying it awaits an attractive entry point, Oppenheimer assigns a Perform rating on CIT.

Dendreon (DNDN): The small cap is initiated with a Buy at WallachBeth, whose objective is $11.

Flowserve (FLS): FLS is a fresh Market Perform with William Blair.

Geron (GERN): GERN gets initiated with a Market Perform at JMP Securities.

Harris & Harris (TINY): The stock is begun with a Buy at Ascendiant Capital Markets.

ImmunoCellular Therapeutics (IMUC): Shares are initiated with a Buy at Maxim Group, whose price objective is $18. The company has potential to create a new, innovative second-generation dendritic cancer vaccine.

Jazz Pharmaceuticals (JAZZ): Cowen covers the company at a Neutral.

Orexigen (OREX): Shares are surging before the bell after being initiated with an Outperform at Credit Suisse.

Pep Boys-Manny Moe & Jack (PBY): The stock, a stellar performer on Wednesday, is a new Neutral at Credit Suisse. The target is $10.

(See also: Stock Upgrades: AK Steel Looks Like a Bargain and Stock Downgrades: Cliffs Natural Resources Can't Move Mountains.)
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos