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New Stock Coverage: Buy Cedar Fair Before Eating Fowl

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

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Not too shabby; Nasdaq (INDEXNASDAQ:.IXIC) today opens above 4,000 for the first time this millennium. (September 7, 2000, the last occasion the bourse broke that barrier, was technically the final year of the 20th century, lest William Safire's "Gotcha! Gang" go after me.) Sapphires? Actually it was diamonds, dahling, that topped the S&P 500 Index (INDEXSP:.INX) in the shape of Tiffany & Co.'s (NYSE:TIF) 8.68% break-out to a historic best. They sell love and marriage, which go together like, well, Spam meat and Skippy peanut butter for Hormel Foods (NYSE:HRL), which, up 5.91%, hit a fresh peak of its own. On a day Dow (INDEXDJX:.DJI) component Goldman Sachs (NYSE:GS), still doing "God's work", reached a multi-year high, the Pope assailed unfettered capitalism. Hours later, a book of Biblical psalms sold for $14.2 million. (How Barnes & Noble (NYSE:BKS), which fell 5.96% even as US stock markets rose to records, could use that kind of cash.) Even Communist China now worships the Almighty Dollar, to judge by that fellow who just proposed with a bouquet of banknotes. Who says romance is dead? His timing was impeccable, too; De La Rue (LON:DLAR), the planet's biggest printer of such items, jumped 9.92% after announcing earnings.

Other than Frontline (NYSE:FRO), which reported results three hours ago, it is slim pickings for earnings announcements today. In terms of economic events that may move US stock markets this morning, at 9:55 a.m. Eastern the University of Michigan's final figure for November consumer confidence is expected to post an improvement from the preliminary pace announced earlier in the month. At 10:00 a.m., analysts expect October leading indicators to slip from September's rate. US markets will be closed tomorrow in observance of Thanksgiving.

Biotechnology: Piper Jaffray has a new Neutral on Mannkind (NASDAQ:MNKD), but begins more upbeat Overweights on Amgen (NASDAQ:AMGN) -- Amgen is the world's biggest biotech and Amgen stock has advanced 30.23% in the past 12 months -- Biogen Idec (NASDAQ:BIIB), Biomarin Pharmaceutical (NASDAQ:BMRN), Gilead Sciences (NASDAQ:GILD), and Incyte (NASDAQ:INCY).

Cedar Fair (NYSE:FUN): Cedar Fair, an Ohio-based theme park operator, is assigned an upbeat pre-Turkey Day Outperform at FBR Capital. Its price objective is $70, and the broker praises FUN's master limited partnership structure. Stock in Cedar Fair is trading near historic highs.

Emerge Energy Services (NYSE:EMES): William Blair launches the limited partnership at an Outperform, citing its good growth prospects.

Merchants Bancshares (NASDAQ:MBVT): Shares are begun with a Buy at Sterne Agee, whose price objective is $36.

Ruckus Wireless (NYSE:RKUS): Ruckus Wireless is resumed with a Buy at Stifel. On Tuesday, Ruckus Wireless stock rose 1.44%, and it is advancing another 2.77% as I write this article.

SeaWorld Entertainment (NYSE:SEAS): FBR Capital covers the stock at Market Perform.

Six Flags Entertainment (NYSE:SIX): The stock is a new Market Perform, also at FBR.

Twitter (NYSE:TWTR): Twitter is begun with a Buy at Miller Tabak. Yesterday, stock in Twitter gained 2.87%.

(See also: Stock Upgrades: Hewlett-Packard Parties Like It's 1939, and Stock Downgrades: Tilly's Is a Total Turkey)
No positions in stocks mentioned.
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