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MOST NOTEWORTHY: Ariad Pharma, FNB Corp. and Fortune Brands were today's noteworthy initiations:
- Jefferies finds Ariad Pharma (NASDAQ:ARIA) compelling as they believe the market potential for deforolimus in cancer is being underappreciated. Jeffieries initiated Ariad with a Buy rating and $8 target.
- B. Riley assumed coverage of FNB Corp. NYSE:FNB) with a Neutral rating and $15 target and sees limited viable lending opportunities in the current economic environment.
- Wachovia initiated Fortune Brands (NYSE:FO) with an Outperform rating and is positive on the company's position in Spirits. The firm believes its Home business is weighted towards the less cyclical remodels business.
OTHER INITIATIONS:
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The Money Man Behind Rick Santorum: Who Is Foster S. Friess?
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
