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New Stock Coverage: Cable Guy Keeps Investors Waiting


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

MINYANVILLE ORIGINAL In a week dominated by Big Bird in Mile High City, stocks finally took flight. Snapping a two week slump, Dow Industrials (^DJI) advanced 1.29% while the S&P 500 Index (^GSPC) finished up on all five days. Jack Welch cast aspersions on an unemployment survey derived in part from knocking on doors, but the Avon (AVP) lady, who earns a living in an identical manner, saw shares surge 7.6%.

In the Denver debate, a listless President Obama shot himself in the foot, presumably with one of those silver bullets of which he is so fond, while a handgun once owned by Bonnie and Clyde went for big bucks at auction. Neither of which was sufficient to start the third quarter with a bang for Smith & Wesson (SWHC), the firearms firm imploding 8%.

No top-tier economic data due today, and both banks and the bond market are closed for Columbus Day. On the earnings front, AngioDynamics (ANGO) reports results.

Auxilium Pharmaceuticals (AUXL): Shares are initiated with a Buy at WallachBeth, whose price objective is $32. Profitability could arrive in 2013, driven by the continued growth of its Testim and Xiaflex.

Cable/Satellite Broadcasters: Pacific Crest picks up Sector Performs on Comcast (NASDAQ:CMCSA) ($38 target price), DIRECTV (NASDAQ:DTV) ($54), Dish Network (NASDAQ:DISH) ($35), and Time Warner Cable (NYSE:TWC) ($108.)

Cerus (CERS): Shares are initiated with an Outperform at Cowen.

Eastman Chemical (EMN): Morgan Stanley starts the stock at Equal-Weight.

Kindred Healthcare (KND): The company is a new Neutral at Citigroup, whose target is $13.

Thermo Fisher Scientific (TMO): Shares are a Neutral at JPMorgan.

(See also: Stock Upgrades: Stars Align for Constellation Brands and Stock Downgrades: Facebook Gets Defriended.)
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No positions in stocks mentioned.
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