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New Stock Coverage: AMC Entertainment Starts With Hollywood Ending

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

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Mo' money, mo' problems. US stock markets lost all momentum, Mohamed El-Erian left his bond perch at Pimco, and "Movember" caused Procter & Gamble (NYSE:PG) a hairy situation. (Mohawk Industries (NYSE:MHK), upgraded this morning, is exempt from the malaise.) Thus did the Dow (INDEXDJX:.DJI) and S&P 500 Index (INDEXSP:.INX) each implode, with the former suffering its worst week since November 2011. Ominous economic data out of Beijing begat a terrible tape on Wall Street after China's year of the horse rode in on a Coach (NYSE:COH), whose equine emblem oversaw a 7.1% slump. The situation in Buenos Aires is similarly dire, but at least Argentina's Pope may be able to provide desperately needed divine intervention. (He certainly seems to be considerably more dovish than Janet Yellen, although perhaps with unintended consequences.) Elsewhere, teens may be shunning Facebook (NASDAQ:FB) but who needs adolescents when the stock hit an all-time high in the same week its oldest user Edythe Kirchmaier entered her 107th year? And there goes the neighborhood. International Business Machines (NYSE:IBM), which entered the world three years after Edythe and just set up shop in the "La Vie Bohème" heartland of New York's East Village, now can't afford the Rent after falling 5.5% amid a seventh consecutive quarterly revenue decline.

In terms of economic events that may move US stock markets today, December 2013 new home sales are expected to contract from the previous month's pace at 10:00 a.m. Eastern. Regarding specific stocks, American Electric Power (NYSE:AEP), Apple (NASDAQ:AAPL), Caterpillar (NYSE:CAT), Royal Caribbean Cruises (NYSE:RCL), Seagate (NASDAQ:STX), and US Steel (NYSE:X) are all due to release results.

AMC Entertainment (NYSE:AMC): Movie theater owner AMC Entertainment - a recent initial public offering, and not to be confused with Mad Men broadcaster AMC Networks (NASDAQ:AMCX) - sees its stock begun with an upbeat Buy at both Citigroup and Stifel, whose price objective is $24. Catalysts include new amenities such as swankier seats and restaurants.

Athletic Apparel: JPMorgan has a fresh Overweight, with a $47 objective, on Foot Locker (NYSE:FL) stock but is less bullish on new Neutral Finish Line (NASDAQ:FINL) ($28 target.)

Clearwater Paper (NYSE:CLW): Shares are a new Outperform at RBC Capital, whose target is $70 amid its impressive ability to generate free cash flow.

Embraer (NYSE:ERJ): Credit Suisse covers the Brazilian maker of business jets at Underperform.

Gain Capital (NYSE:GCAP): GCAP gets begun with a Buy at Jefferies, whose objective is $11.

Orbitz Worldwide (NYSE:OWW): Online travel stock Orbitz Worldwide is a new Market Perform at Cowen.

Seaspan (NYSE:SSW): Shares are a new Neutral at Citigroup.

Standard Pacific (NYSE:SPF): ISI Group gives the stock a Neutral rating.

See also:

Stock Upgrades: Milk Honeywell for All It's Worth

Stock Downgrades: What's the Mata With Manchester United?
No positions in stocks mentioned.
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