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New Stock Coverage: Time Warner Cable Gets Great Reception


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

MINYANVILLE ORIGINAL Henry Blodget held court and a money-losing Internet darling defied gravity - fresh from the 1980s asking for their foreign policy back, the '90s are now demanding an immediate return of their irrational exuberance. Truth be told, even with Facebook (FB) jumping 19.13% on earnings and upgrades, overall markets hardly partied as they did at the end of the Millennium. Indeed, stocks dropped for a second straight session and now stand at seven week lows. Standout equities on the upside included Spartech (SEH), based in the Show Me State, which surged some 63.04% to top the NYSE. (However the heck you pronounce Missouri, it can surely now afford to buy a vowel.)

Elsewhere all of Madrid rejoiced as IberiaBank (IBKC) rode an analyst ratings increase to add 8.84%. Or at least it did until discovering that the misnamed financial firm is actually based Lafayette, Louisiana. And Iconix Brand (ICON) also bucked a down day by rising 1.68% after acquiring Umbro, outfitter of Athens' most storied soccer side. With Greece continuing to kick the can, clearly the PIIGSkin fútbol business is booming. Today in economics, September pending home sales are out at 10:00 a.m. Eastern.

It's another frenetic session for earnings announcements, with Amazon (AMZN), Apple (AAPL), AstraZeneca (AZN), Banco Santander (SAN), Colgate-Palmolive (CL), Daimler (DDAIY), Luxottica (LUX), Novartis (NVS), Procter & Gamble (PG), Sprint (S), and Unilever (UN) all expected to report results.

Cable/Satellite Broadcasters: Guggenheim has new Neutrals on Cablevision (NYSE: CVC) ($18.50 price objective), Comcast (NASDAQ:CMCSA) ($40), DirecTV (NASDAQ:DTV) ($56), and Dish Network (NASDAQ:DISH) ($36.50.) It begins Buy rated coverage on Charter Communications (NASDAQ:CHTR) ($95) and Time Warner Cable (NYSE:TWC) ($120).

Cubist Pharmaceuticals (CBST): Cantor Fitzgerald starts Sell rated coverage, issuing a price objective of $37. In 2013 a key revenue driver Cubicin matures and competitors begin to take market share.

Gevo Inc. (GEVO): Shares get initiated with an Outperform at JMP Securities, which has a target price of $6.

Thompson Creek Metals (TC): The small cap is covered at Market Perform by BMO Capital.

(See also: Stock Downgrades: Crocs Carried Out Feet First and Stock Upgrades: Zynga Out of the Doghouse?)
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