New Stock Coverage: Nike, Inc. Just Keeps on Doing It


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It was 1986 all over again on Wall Street, where a Shanghai Surprise swiftly led to a Manic Monday . A steep slide in Chinese equities sent the Dow (^DJI) down 244 points at its depths and, while shares eventually recovered somewhat, the blue chip index still ended off by triple-digits.

No More Tears maker Johnson & Johnson ( JNJ ) bucked a brutal tape to gain 1.69%, but an unloved Allergan ( AGN ) was crying a river as it tumbled an S&P 500 (^GSPC)-worst 11.55% amid concerns over its chronic dry eye treatment.

Financials fared worst of all. Citigroup ( C ) fell 3.05%, its stock now a steal without any help from The Thief of Baghdad . Morgan Stanley ( MS ), meanwhile, horrified sticklers for grammar when it said, "This is a historic day," yet it can scarcely afford to buy a consonant after tumbling 2.05%.

First Solar ( FSLR ) scored a broker boost and Sun Microsystems owner Oracle (ORCL), which nosedived 9.26% on Friday's summer solstice, recovered from its Zero Dark Thirty hour to trade higher on a cloud-computing agreement with Microsoft (MSFT).

Today in economics, May new home sales and June consumer confidence are each out at 10:00 a.m. Eastern. On the corporate front, Apollo Group (APOL), Barnes & Noble (BKS), Carnival Corporation (CCL), Lennar (LEN), Smith & Wesson (SWHC), and Walgreen (WAG) are all due to announce earnings.

Apparel: Deutsche Bank begins Buys on Michael Kors Holdings Ltd (KORS), Ralph Lauren Corp (RL), and VF Corp (VFC).

Athletic Apparel: Nike, Inc. (NKE) is assigned a Buy at Deutsche Bank, which has Holds on Lululemon Athletica inc. (LULU) and Under Armour Inc (UA).

Becton, Dickinson and Co. (BDX): Shares are begun with a Buy recommendation and $106.50 price objective at ISI Group, which says its portfolio of medical devices can ultimately propel mid single digit top-line growth.

Blackhawk Network Holdings Inc (HAWK): Jefferies has a Buy on HAWK.

Francesca's Holdings Corp (FRAN): William Blair rates FRAN a fresh Outperform.

Intuitive Surgical, Inc. (ISRG): The company is covered at Equal Weight by First Analysis.

Liberty Global PLC (LBTYA): Macquarie launches the stock at an Outperform.

Mast Therapeutics Inc (MAST): Shares are picked up at Overweight by Piper Jaffray.

Merrimack Pharmaceuticals Inc (MACK): Mizuho has a Buy rating and $12 target price on a stock it says has five upcoming catalysts from Phase II and Phase III studies.

Newell Rubbermaid Inc. (NWL): The stock is a new Neutral at Goldman Sachs.

Nordstrom, Inc. (JWN): Maxim Group starts the upscale retailer with a Buy and $70 target amid impressive square footage growth.

Synthetic Biologics Inc (SYN): Ascendiant Capital Markets covers the small cap stock at a Buy, assigning a $2.25 target price. Its oral beta-lactamase enzyme (SYN-004) to treat C. difficile shows promise.

(See also: Stock Upgrades: Lam Research Corporation Has Bears on the Run and Stock Downgrades: Netflix, Inc. Now Swimming Upstream .)

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
More Headlines for: AGN , C , FSLR , JNJ , MS

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