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New Stock Coverage: Black Hills Can Scale Fiscal Cliff

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Wall Street ratings agencies set the tone for today's stock market.

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MINYANVILLE ORIGINAL Here comes money boo-boo. Halloween arrived eight days early on Wall Street, with financial markets getting spooked by everything from Spain's zombie economy to a scary 10.17% tumble in Monster Beverage (MNST) to Walking Dead owner AMC Networks (AMCX) ending off 2.85% after an analyst downgrade. At least the frightening current cover of Barron's was anything but a kiss of death for Intel (INTC) and Microsoft (MSFT), the only two blue chips to end up on a day the Dow (^DJI) again dropped by triple-digits.

Apple Inc. (AAPL) was predicted to be a winner on the same front page; it promptly slumped 3.26% to prove the enduring infallibility of contrary indicators. Investors appeared unimpressed with its new iPad mini. Might Steve Jobs have been right for once? While the sky fell on stocks and Bond debuted Skyfall, bonds gained impressively after a solid auction and flight-to-safety buying.

Today in economics, consensus calls for an increase in September new home sales at 10:00 a.m. Eastern, and the Federal Open Market Committee concludes its two-day monetary-policy meeting at 2:15 p.m. On the corporate front, it's Hump Day of another peak week for earnings announcements, with AT&T (T), Boeing (BA), Delta Air Lines (DAL), General Dynamics (GD), Eli Lilly (LLY), Iberdrola (IBDRY), Kimberley-Clark (KMB), Lockheed Martin (LMT), Nintendo (NTDOY), Motorola (MOT), SAP AG (SAP), T Rowe Price (TROW), US Airways (LCC), and Volkswagen (VLKAY) all due to report results.

Ares Capital (ARCC): JMP Securities covers the company at an Outperform and assigns a price objective of $19.

Avalon Rare Metals (AVL): Dahlman Rose has a Hold on AVL.

Bazaarvoice (BV): Shares are begun with a Neutral at Lazard Capital.

Black Hills Corp. (NYSE:BKH): RBC Capital covers the company at Outperform and issues a $39 price target.

Calpine (CPN): The electric utility is initiated with a Sector Perform at RBC Capital, whose target is $20.

Inergy Midstream (NRGM): JPMorgan launches Overweight rated research, and a $27 target, on the limited partnership.

Solar Capital (SLRC): Shares are initiated with an Outperform at JMP Securities, whose target is $26.50.

(See also: Stock Downgrades: Trouble Brewing at Anheuser-Busch and Stock Upgrades: Learning to 'Like' Facebook All Over Again.)
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No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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