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New Stock Coverage: Cloudy Outlook at Cablevision Systems Corporation


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

If Monday was all about The Sweet Smell of Success, to quote an memorable mid-century movie featuring public relations flacks, Tuesday brought us only the awful stench of fertilizers. Investors apparently didn't mind holding their noses, however, for even a 28.55% tumble in Intrepid Potash (IPI) failed to prevent most stocks from ending up amid late-session strength. President Obama talked economics in Chattanooga, home to the most famous Choo Choo in history. His address didn't exactly win over the locals, but training still easily beat Coach-ing (COH), as the handbag maker slumped some 7.87%. Some serious issues thus confront its CEO Lew Frankfort only 24-hours away from the hot dog days of August. The frankfurter fared almost as poorly, with Nathan's Famous (NATH) falling 4.38% to extend its recent nose-dive. And one day after a Bankrate (RATE) survey showed Americans deserting equities in droves, its own stock surged 17.17% on a broker boost.

Today in economic data, the July Chicago Purchasing Managers Index is expected to improve from the prior month's pace at 9:45 a.m. Eastern. The Federal Open Market Committee concludes its two-day policy meeting, with an interest rate announcement anticipated at 2:00 p.m. Eastern. On the earnings front, Allstate (ALL), Anheuser-Busch (BUD), BNP Paribas (BNPQY), CBS Corp (CBS), Comcast (CMCSA), MasterCard (MA), MetLife (MET), Volkswagen (VLKAY), Whole Foods (WFM), Honda (HMC), Sodastream (SODA), Dreamworks Animation (DWA), and Yelp Inc. (YELP) are all due to report results.

Broadcasting/Cable: Cablevision Systems Corporation (CVC) is assigned a pessimistic Underweight by Barclays, which establishes Overweights on Comcast (CMCSA), DISH Network (DISH), Sirius XM Radio (SIRI), and Liberty Media (LMCA). Equal-Weights are rolled out on Time Warner Cable (TWC) and DIRECTV (DTV).

Goodrich Petroleum (GDP): GDP gets begun with a Buy at SunTrust.

Insys Therapeutics (INSY): Oppenheimer assigns an Outperform and $23 target price on INSY, for whom an essentially liquid formulation of marijuana offers potential promise. The firm's Oral Dronabinol can capture a share of the chemotherapy-induced nausea and vomiting market, the bank believes.

Susser Petroleum Partners (SUSP): Shares are started with a Buy recommendation and $35 price objective by Benchmark Company, which believes opportunities abound as regards growth and operating margins.

(See also: Stock Upgrades: Swim With the Sharks of Discovery Communications Inc. and Stock Downgrades: Intrepid Potash, Inc. Goes to Pot.)
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