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New Stock Coverage: Answer Is Blowing in the Wind at American Superconductor Corporation


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

Martha Stewart's threesome may have attracted infinitely more attention, but a trio of Fed speakers were indisputably, in the domestic diva's signature phrase, "a good thing" for equities. Constructive comments from Messrs. Dudley, Lacker, and Powell saw the Dow (^DJI) record its third straight day of triple-digit gains.

Bethpage, New York-based Cablevision (CVC) was in the green, surging some 5.58% to top the S&P 500 Index (^GSPC). Tiger Woods once won the US Open in its hometown, back when his golf game and personal life were both above reproach. In those days, Accenture (ACN) could run an irony-free ad staring the serial philander that said, "We know what it takes to be a Tiger." Alas the consulting company finds itself in some serious rough this morning, slumping 8.05% as I write. Meanwhile, mortgage rates rose at their fastest pace since April 1987. What followed six months later wasn't pretty.

This morning in economics, the Chicago Purchasing Managers Index for May is out at 9:45 a.m. Eastern, followed by June's final University of Michigan consumer confidence figure at 9:55 a.m. In earnings action, AZZ incorporated (AZZ), Emmis Communications (EMMS), Finish Line (FINL), Research In Motion (BBRY), and Shaw Communications (SJR) are all set to release results.

American Superconductor Corporation (AMSC): The small cap is begun with a Buy at Ascendiant Capital Markets, whose price objective is $3.25 on a stock it says is a way to play wind energy and global electricity grid regulation.

Ann Inc (ANN): Stifel has a Hold on the clothing company formerly known as AnnTaylor.

Black Diamond Inc (BDE): Roth Capital resumes Neutral-rated research.

Cognizant Technology Solutions Corp (CTSH): Société Générale covers the company at a Buy.

Cytec Industries Inc (CYT): The specialty chemicals company is started at Overweight by First Analysis.

Ducommun Incorporated (DCO): FBR Capital covers the company at an Outperform, assigning a $26 target price amid impressive diversification efforts and an ongoing upturn in commercial aerospace.

GameStop Corp (GME): GME gets begun with a Buy at Bank of America-Merrill Lynch.

HORSEHEAD HOLDING CORP. (ZINC): Citing the company's 12% plus free cash flow yield based on its 2015 estimates, Oppenheimer has an Outperform rating. Its price objective is $17.

Infosys Ltd ADR (INFY): Société Générale has a fresh Hold on the Indian outsourcing and information technology firm.

Move Inc. (MOVE): The Internet information provider is picked up with a Buy at B. Riley & Co.

Nationstar Mortgage Holdings Inc (NSM): Jefferies has a Hold on the equity.

Palo Alto Networks Inc (PANW): Shares are set a Perform at Oppenheimer, whose objective is $47.

QR Energy LP (QRE): Bank of America-Merrill Lynch launches the limited partnership at a Buy.

Tesla Motors Inc (TSLA): The electric automotive outfit is assigned a Neutral with Wedbush.

Veeco Instruments Inc. (VECO): The tech stock is a new Neutral with Wedbush.

Verisk Analytics, Inc. (VRSK): Deutsche Bank establishes coverage at a Buy.

Walter Investment Management Corp (WAC): Jefferies begins Buy-rated research on WAC.

(See also: Stock Upgrades: High Fives for F5 Networks, Inc. and Stock Downgrades: Time to Disown Almost Family Inc.)
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