New Stock Coverage: Fast Money Flees Sprint Nextel Corporation

Wall Street gave its regards to Broadway yesterday, as a 4.37% earnings-related advance in Morgan Stanley ( MS ), headquartered in the heart of the theater district, sent stocks to historic highs. In a cruel irony, car companies rose 2.3% to top all ten S&P 500 (^GSPC) industries on the very day our automotive epicenter declared itself insolvent. Johnson Controls ( JCI ) jumped 8.28% to a fresh 52-week peak after selling its line of automatic garage-door openers for some $700 million. This inspired a new wave of nostalgia over the iconic American companies founded in garages , from Mattel ( MAT ) to Google ( GOOG ). (Actually, given the punk performance of those two over the past 24-hours, better examples probably exist.) The mysterious aliment Malibu Barbie caught this week may have arisen from an ill-advised fling with JAKKS ( JAKK ), also based in the upscale California coastal community. It just nose-dived a Nasdaq (^IXIC)-worst 39.07%. And Russian equities imploded as the seriously sinister Vlad the Impaler just put one of his critics in prison for half a decade. The country was officially rated the most corrupt of all G20 nations . So naturally enough, G20 ministers are meeting this morning…in Moscow .

No top-tier economic data due today, but the first full week of Q2 reporting season concludes with earnings expected out of Baker Hughes (BHI), General Electric (GE), Honeywell (HON), Ingersoll-Rand (IR), Rockwell Collins (COL), Schlumberger (SLB), Vodafone (VOD), and Whirlpool (WHR).

Astex Pharmaceuticals (ASTX): Brean Capital begins the small cap stock at a Buy.

Big Lots (BIG): BIG is begun with a Market Perform at FBR Capital, whose target price is $35 on a company it says is still in transitional mode.

Dick's Sporting Goods (DKS): RBC Capital resumes the retailer at Sector Perform.

DISH Network (DISH): Goldman Sachs has a new Neutral on the broadcasting name.

Family Dollar Stores (FDO): Shares are a fresh Market Perform at FBR Capital, whose price objective is $64. Although the discount shopping demographic appears to be rebounding, share buybacks are set to slow and valuation is somewhat stretched.

Oil Stocks : Mizuho begins Buys on both Anadarko Petroleum (APC) and Hess Corp. (HES), assigning respective price objectives of $110 and $80. It says APC has significant exploration opportunities, while HES should benefit from an improving Bakken performance.

Sprint Nextel Corporation (S): The telecom titan, which slumped 3.20% even as stocks hit historic highs yesterday, is started with a Sell at Goldman Sachs.

TripAdvisor (TRIP): Ascendiant Capital Markets covers the online travel company at a Buy amid international potential and a growth rate in excess of many peers. Its price objective is $76.

Retailers : SunTrust Robinson Humphrey begins Buy-rated research on Chico's FAS (CHS), Francesca's (FRAN), lululemon athletica (LULU), Ross Stores (ROST), Tilly's (TLYS), Under Armour (UA), and Urban Outfitters (URBN). It has new Neutrals on Abercrombie & Fitch (ANF), Aéropostale (ARO), American Eagle Outfitters (AEO), and Gap Inc. (GPS).

(See also: Stock Upgrades: Don't Expect Netflix, Inc.'s House of Cards to ComeCrashing Down Anytime Soon and Stock Downgrades: Microsoft Corporation's Woes Extend Way Beyond the Surface .)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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