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MOST NOTEWORTHY: Syntroleum, Pervasive Software and Ardea Biosciences were today's noteworthy initiations:
- Merrriman believes Syntroleum (NASDAQ: SYNM) possesses the technological platforms with its Biofining process and the cost structures with its Tyson Foods (NYSE: TSN) relationship needed to commercialize clean synthetic fuels. The firm started shares with a Buy rating.
- Pervasive Software (NASDAQ: PVSW) was assumed with a Buy rating and $7 target at B. Riley, as they find shares attractive in this market given the company's solid balance sheet with a sizeable cash balance and positive operating cash flow. They believe the stock is undervalued at current levels.
- Ardea Biosciences (NASDAQ: RDEA) was assumed with an Outperform rating at Cowen. The firm believes Ardea has a promising clinical pipeline for HIV, gout, and cancer.
OTHER INITIATIONS:
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Suddenly, Amazon Doesn't Love Its Moms Anymore
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
