New Stock Coverage: Sprint Stuck in the Starting Blocks


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Stocks surged yet again, with the Dow (INDEXDJX:.DJI) now up for three straight sessions in the sort of day only Michael Moore could dread. Compounding his misery was news that Midland, Texas - indelibly associated with Dubya - has the highest median household income in America . Still, the filmmaker should keep his chin up , so to speak, for Kythera Biopharmaceuticals ( KYTH ) gained 25.11% to top the entire Nasdaq Index (INDEXNASDAQ:.IXIC) on high hopes for its…well, you know . Not all shares shared in the overall ebullience. Hooker Furniture ( HOFT ) fell 1.76% and fragrance maker Coty Inc. ( COTY ) - home to a scent Lady Gaga says " smells like an expensive hooker " cratered 3.35% to a fresh low. One only hopes all these oldest professionals turned to the portfolio protection of Trojan condoms maker Church & Dwight ( CHD ), which jumped 2.20% on a broker boost. Alas, parent FriendFinder (OTCMKTS:FFNT), better known as the owner of Penthouse , fared less well, imploding 83.84% after entering chapter 11 . These days, "friends" are found not in musty magazines but on Facebook ( FB ), which advanced 6.02% to buck a three-session slump in some style.

Today the Federal Open Market Committee concludes its two-day policy setting meeting in Washington, DC, with an interest rate announcement expected at 2:00 p.m. Eastern. Ben Bernanke is due to host a press conference at 2:30 p.m. In corporate earnings action, Cracker Barrel (CBRL), FedEx (FDX), General Mills (GIS), Manchester United (MANU), and Oracle (ORCL) are all slated to release results.

Allstate (ALL): Guggenheim begins the insurance outfit with a Buy rating and $63 price objective.

Aruba Networks (ARUN): Shares are set an Overweight at Piper Jaffray, whose target is $26.

Frank's International (FI): UBS has a fresh Buy on the oil and gas firm and Barclays (Overweight with a $35 price objective) is equally upbeat. Goldman Sachs, with a new Neutral, advises greater caution.

New Gold (NYSEMKT:NGD): Barclays begins coverage at Equal Weight. Its price target is $8.

Nucor (NUE): NUE is a new Outperform at BMO Capital Markets, whose target price target is $54.

Phillips 66 Partners (PSXP): The limited partnership is picked up with a Neutral at Citigroup.

Scotts Miracle-Gro (SMG): Shares are a new Neutral at Janney.

SolarCity (SCTY): Citing the stock's steep valuation, even as an investment tax credit ultimately bodes well, Robert W. Baird resumes the alternative energy name at a Neutral. Its target is $37.

Telecoms : Credit Suisse covers dual Dow (INDEXDJX:.DJI) components AT&T Inc (T) (Outperform) and Verizon (VZ) (Neutral), has a bearish Underperform on Sprint Corporation (S), and establishes Outperform-rated research on T-Mobile US (TMUS).

Teleflex (TFX): The medical appliance outfit is assigned an Outperform and $94 target at JMP Securities.

US Steel (X): BMO Capital Markets covers the commodity company at a Market Perform. Its objective is $19.

(See also: Stock Upgrades: Tilly's Is a Teenage Dream and Stock Downgrades: Procter & Gamble Is All Out of Luvs .)

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: CHD , COTY , FB , HOFT , KYTH

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