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New Stock Coverage: Ruby Tuesday, Avis, and Pfizer

By: Minyanville
Posted: 10/9/2013 9:26:00 AM
Referenced Stocks: COST;JMBA;KKD;LLY;MNST

You've got to feel for Greece. As soon as Athens improbably gets its act together , America implodes. Thus did the Dow (INDEXDJX:.DJI), now down in 11 of its past 13 sessions, drop by triple digits once more. It was the rare stock that made money talk, but Eli Lilly ( LLY ) edged up 0.84% as the drug-maker proved Listening to Prozac can sometimes be more profitable. (Though the company will be seriously depressed to see it assigned only a lukewarm 'Neutral' analyst initiation this morning.) Lilly has long been known for its industry-leading diabetes franchise, so was presumably pleased to see Krispy Kreme ( KKD ) similarly buck a bad day by gaining 1.84%. (Something to do with Obamacare closing the doughnut hole , apparently.)

Elsewhere an unloved Jamba ( JMBA ) Juice imploded 18.78%. They say never confuse a company with its stock but, as my local branch of the smoothie store was cited for 55 health violations in May, I avoid both equally. Such restaurant ratings are a legacy of Michael Bloomberg's nanny state, but New York's billionaire mayor is having less success in banning horrifically calorific sugary sodas and their ilk. At least if yesterday's S&P 500 Index (INDEXSP:.INX)-best 3.76% surge in Monster Beverage ( MNST ) is any indication.

This afternoon at 2:00 p.m. Eastern, we will get meeting minutes to the Fed's much-debated September 17-18 policy confab, at which it unexpectedly opted to keep the monetary spigot intact. In corporate earnings action, Costco ( COST ), Del Frisco's Restaurant Group (DFRG), Family Dollar (FDO), and Fastenal (FAST) are all due to release results.

Allergan (AGN): The Botox maker is begun with an upbeat Outperform at Credit Suisse.

Arrow Electronics (ARW): SunTrust Robinson Humphrey has a Buy on ARW.

Brunswick (BC): Citigroup picks up the bowling and boating behemoth at a Buy.

Car Rental Companies : Avis Budget (CAR) and Hertz (HTZ) are each assigned an Overweight at JPMorgan.

Chicago Bridge & Iron (CBI): Jefferies covers CBI at a Buy.

Coach, Inc. (COH): The luxury outfit is picked up with a Neutral at Piper Jaffray.

Drug Stocks : Credit Suisse has new Neutrals on Eli Lilly ( LLY ), Forest Labs (FRX), and Dow member Merck (MRK). It begins Outperforms on both Bristol-Myers (BMY) and Dow component Pfizer (PFE).

ExOne (XONE): Shares are trading higher this morning after being initiated with a Buy at Janney, whose price objective is $70.

Goodrich Petroleum (GDP): GDP gets an In-line and $27 target price at Imperial Capital, which would wait for a more compelling entry point before buying.

Hancock Holding (HBHC): Bank of America-Merrill Lynch launches the stock at Underperform.

Ruby Tuesday (RT): The company is assigned a Buy recommendation and $10 target at B. Riley & Co., which has high hopes for the company's comparatively fresh management team.

Tidewater (TDW): Shares are resumed with a Outperform at Cowen amid increasing offshore oil and gas production. Its price objective, previously $63, increases to $70.

(See also: Stock Upgrades: Michael Kors Makes a Killing and Stock Downgrades: K12 Inc. Goes Dunce Cap in Hand .)