New Stock Coverage: Canadian Solar Inc. Is a Light in the North

By Justin Sharon,

Shutterstock photo

Equities experienced The Joy of Six - and Saks ( SKS ) - as Dow Industrials (^DJI) advanced for a sixth straight week amid a fresh bout of merger mania that included the iconic retailer being bought for $2.4 billion. Nasdaq (^IXIC), up 2.12%, outperformed all major indices, although superstitious sorts will find it ominous that Swedish fashion firm H&M (STO:HM-B) belatedly embraced the Internet age last week . (It was the company's March 2000 opening of a Fifth Avenue flagship that marked the very month stocks made a top.)

Facebook ( FB ), up 11.9%, revisited the market's millennial madness. It unveiled a new feature showing what you were posting on its pages one year ago , but for the company itself, nostalgia clearly ain't what it used to be. Shares, barely $20 in August 2012, suddenly find themselves flirting with $40. And The New York Times ( NYT ) espied a glimmer of economic revival in Greece . Although, having just sold one of its flagship properties at a 93% loss , it may not be the best place to comment on financial matters around the globe.

Today in economics, analysts expect an uptick in July's Institute for Supply Management non-manufacturing index at 10:00 a.m. Eastern. On the earnings front, HSBC Holdings ( HBC ), Macerich Company ( MAC ), Rockwood Holding (ROC), Tyson Foods (TSN), Veolia Environnement (VE), and Vornado Realty (VNO) are all due to release results.

Canadian Solar Inc. (CSIQ): Roth Capital covers the alternative energy company at a Buy.

Level 3 Communications (LVLT): LVLT is launched with a Neutral at Macquarie.

NRG Yield (NYLD): UBS has a new Neutral on NYLD.

Pentair (PNR): JPMorgan picks up the industrial outfit at Overweight.

Perficient (PRFT): Shares are a new Buy at Needham, whose target price is $20. Catalysts include an improvement in spending on Information Technology services and better organic growth trends.

(See also: Stock Upgrades: Steven Madden, Ltd. Gets Out of Jail and Stock Downgrades: Brinker International, Inc. Gets a Chili Reception .)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing Stocks
Referenced Stocks: FB , HBC , MAC , NYT , SKS

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