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New Stock Coverage: Garmin Suddenly Finds Itself Back in Favor

Posted
6/7/2013 9:19:00 AM
By: Minyanville
Referenced Stocks:FOSL;GOOG;GRMN;RST;VZ

Route 6-6 turned out to be a rocky road for stocks but, by the time June 6 was done and dusted, shares rebounded from a midday slump to post solid increases. Among equities in the news, language learning company Rosetta Stone ( RST ) tumbled 12%. Maybe, much like JFK who told his bemused Cold War audience in Berlin, " I am a jelly doughnut ," something was lost in translation. (Incidentally, any investors fearing the imminent end of the Fed's sugar rush can snag the sweet treat for free today .)

Henkel (OTCMKTS:HENOY), a world leader in adhesives, jumped 2.17% on a broker boost but where smart money goes, dumb antics often follow . Verizon ( VZ ) gained 3.46% to top the Dow (^DJI), its best day since August of 2011 being of scant consolation for the company's countless spied-on customers .

And The Internship opens today . It features a couple of dinosaur watchmakers leaving a dying industry to find fortune in tech. Yet with Fossil ( FOSL ) having just jumped 2.20% to take its 12-month surge to 41.92%, and Google ( GOOG ) still more than 50 bucks below its high, Hollywood might want to rewrite the script.

Today in economics, analysts expect an expansion in April consumer credit at 3:00 p.m. Eastern. On the earnings front, look for results from Daqo New Energy (DQ) and Mobile TeleSystems (MBT).

American Software (AMSWA): Shares are begun with a Buy at B. Riley & Co

Consolidated Water (CWCO): Roth Capital covers the utility at a Buy.

Crosstex Energy (XTEX): The limited partnership is launched with a Buy at Citigroup.

Financials : Dow (^DJI) member Bank of America (BAC) is only an Underperform at Macquarie but the broker is more upbeat on Outperform-rated Citigroup (C) and Morgan Stanley (MS). Splitting the difference, Goldman Sachs (GS) is a new Neutral.

Garmin ( GRMN ): Raymond James assigns a new Outperform on the navigation name, which has lost 18.07% of its value over the past year.

Myriad Genetics (MYGN): Shares are begun with a Buy recommendation and $40 price objective at Cantor Fitzgerald, which says the company's key BRACAnalysis product is among the best-in-breed molecular diagnostic franchises.

Piedmont Natural Gas (PNY): BB&T Capital Markets has a Hold on the energy outfit.

Qualcomm (QCOM): The tech stock is set a Hold at Topeka.

Shoe Stocks : Piper Jaffray picks up Steven Madden (SHOO) at Overweight, based on both its strong brand and good sales growth, but the broker is less bullish on Neutral-rated Hush Puppies owner Wolverine World Wide (WWW).

Take-Two Interactive Software (TTWO): Shares are started with a Buy and $21 target price at Stifel, which cites catalysts including the September 17 launch of GTA V, an extremely popular video game.

(See also: Stock Upgrades: France Likes What It Sees in Lululemon and Stock Downgrades: Calgon About to Take a Bath? )