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New Stock Coverage: Exciting New Chapter for Facebook

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

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Talk about making a pig's ear of that taper prediction. The Dow (INDEXDJX:.DJI) rose to records after the Fed defied all allegedly informed analysis and opted to continue its bond buying binge. On a decidedly bad day for soothsayers, Priceline (NASDAQ:PCLN) became the first ever S&P 500 Index (INDEXSP:.INX) issue to hit $1,000, which its purportedly clairvoyant spokesperson, a small medium at large, also clearly never saw coming. And Oracle (NYSE:ORCL), which tumbled 2.86% after-hours on an earnings miss, should surely similarly get out of the for-prophet forecasting game. In days of yore it was, of course, one of the fabled "Four Horsemen of the Internet," and our other equine friends did enjoy a fine day at the races. Churchill Downs (NASDAQ:CHDN) rose to the highest level in its history, an honor matched by Regeneron (NASDAQ:REGN), now up an astonishing 1,300% since the financial crisis. Its headquarters are in the Headless Horseman headquarters of Tarrytown and, for what it was worth (quite a lot, actually), Horsehead Holding (NASDAQ:ZINC) jumped 4.48% in tandem. British bank Lloyds (NYSE:LYG), of the long-faced logo, gained 4.60%. And not to be left out, English grocery giant Tesco (OTCMKTS:TSCDY) - whose beef burgers taste suspiciously like horse - is begun with a bullish "buy" rating this morning.

Today in economics, we get a trio of reports at 10:00 a.m. Eastern, in the form of August leading indicators and existing-home sales, and the Philadelphia Fed Survey for September. On the corporate earnings front, ConAgra (NYSE:CAG), Pier 1 Imports (NYSE:PIR), Rite Aid (NYSE:RAD), and Scholastic (NASDAQ:SCHL) are all due to report results.

AmerisourceBergen (NYSE:ABC): Sterne Agee starts the stock at a Buy.

Destination XL Group (NASDAQ:DXLG) Shares are launched with a Buy at Lake Street.

Facebook Inc (NASDAQ:FB): More good news for the recently-surging stock, today begun with a Buy recommendation and $52 price objective at CRT Capital. The broker says mobile ad revenue is now at a run rate of over $3.6 billion.

InterContinental Hotels (NYSE:IHG): Societe Generale has a Buy on IHG.

Internet Stocks: Credit Suisse covers Dow member Cisco Systems (NASDAQ:CSCO) at an Underperform. It has a fresh Fair Value on Yahoo (NASDAQ:YHOO). Buys, meanwhile, are begun on Amazon (NASDAQ:AMZN), Google (NASDAQ:GOOG) ($1,090 target price), and LinkedIn (NYSE:LNKD) ($302 price objective.)

Oracle (NYSE:ORCL): William Blair begins coverage on the stock, currently under pressure, at Market Perform.

Sands China (OTCMKTS:SCHYY): HSBC Securities starts the stock at Overweight.

Tesco (OTCMKTS:TSCDY): As mentioned, the British grocery firm is a fresh Buy at Nomura.

(See also: Stock Upgrades: Tony Hayward, of BP Infamy, Gets His Life Back at Glencore Xstrata and Stock Downgrades: Dr Pepper Not Worth Its Salt.)
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No positions in stocks mentioned.
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