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New Stock Coverage: London Whale Still a Killer for JPMorgan

By: Minyanville
Posted: 9/20/2013 9:27:00 AM
Referenced Stocks: DPS;DXLG;JPM;ORCL;PIR

In the wake of the Fed's good ship QE sailing off into infinity, equities ended mostly underwater in a remarkably becalmed session, although Pier 1 ( PIR ), Oracle's ( ORCL ) yacht-owing Larry Ellison , and the $920 million London Whale at JPMorgan ( JPM ) all kept the life aquatic interesting for investors. (Wait, what's that you say? QE is not a ship that today celebrates an important anniversary ? Huh, who knew ?) Despite a 13.86% plunge in Pier, and Oracle offering up a decidedly iffy earnings outlook, there were still some notable winners. Among them Destination XL ( DXLG ), with the outfitter of "big and tall guys" advancing 2.76% after a broker boost . Alas, the market decided to simultaneously short Dr Pepper Snapple ( DPS ), home of 5'2″ spokeswoman Wendy Kaufman . It ended off 0.65% on a ratings reduction .

No top-tier economic data due today - a singularly awful one in stock market history - but Olive Garden owner Darden Restaurants (DRI) releases results. It's also a " quadruple witching " Friday, and they rarely lack action. (This phenomenon is not to be mistaken for the quartet of Fed officials addressing audiences this afternoon, in the form of Esther George (12:30 p.m. Eastern), Daniel Tarullo (12:40 p.m.), James Bullard (12:55 p.m.), and Narayana Kocherlakota (1:45 p.m.)

Allied World Assurance (AWH): Shares are initiated with a Perform at Keefe Bruyette, whose price objective is $103.

BancorpSouth (BXS): Shares are a new Hold at MLV & Co.

ExOne (XONE): The stock is an Outperform at FBR Capital, whose target price is $75 as it says the sand and metal market could provide a boost to the company.

Financial Information Providers: Goldman Sachs starts Sells on Dun & Bradstreet (DNB) and FactSet (FDS). McGraw-Hill Financial (MHFI), Moody's (MCO), and Thomson Reuters (TRI) are all new Neutrals.

International Business Machines (IBM): Cantor covers the key Dow (INDEXDJX:.DJI) component at a Buy.

Large Cap Banks: Société Générale has lukewarm Holds on Dow member JPMorgan Chase ( JPM ), bedeviled by the "London Whale," and Wells Fargo (WFC).

Moneygram (MGI): The stock is initiated with an Equal Weight at Evercore.

NPS Pharmceuticals (NPSP): JPMorgan has a new Overweight and $40 price objective.

(See also: Stock Upgrades: Ryanair Starts the Party Way Before Arriving in Ibiza and Stock Downgrades: Clorox Taken to the Cleaners .)