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New Stock Coverage: Only Mad Men Love AMC


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

MINYANVILLE ORIGINAL Make no mistake, markets still have a touch of the devil about them - Dow Industrials (^DJI) dropped an even 6.66 yesterday - but that represented an impressive rebound from earlier triple-digit declines. Late afternoon optimism centered around speculation, at the umpteenth crisis meeting in Brussels, that the leaders of France and Italy were in complete agreement over the use of eurobonds to cure what currently ails the continent. It was a display of harmony, which will surprise no one who saw that loving show of affection the countries demonstrated for each other at the 2006 World Cup Final. The euro fell to a near two-year low against the dollar, and oil broke below $90 a barrel for the first time since October as Iranian nuclear talks resumed in Baghdad. (Their fate remains uncertain, although if that Facebook (FB) page that opened earlier this year, demanding that an attack be postponed until after Madonna's Tel Aviv concert next week, is any indication, Israelis remain relatively sanguine about the outcome. And boy, could the social network use the business right now.)

Apparel stocks: Express (EXPR) is a new Neutral at JPMorgan, which has an Overweight on Zumiez (ZUMZ).

Celsion (CLSN): The small cap stock is resumed with a Buy at Roth Capital, whose price target is $10.

Cinemark (CNK): The stock is a Buy at Wunderlich, whose target is $30. It is seen as more of a Return On Invested Capital story relative to a peer like Regal Entertainment Group (RGC).

Demand Media (DMD): Shares are initiated with an Outperform at Imperial Capital, which sets a price objective of $11.75.

Ellie Mae, Inc. (ELLI): The stock is up before the bell on an Outperform initiation at JMP Securities Target.

Forum Energy Technologies (FET): Shares have begun with a Buy at Deutsche Bank.

Iridium Communications (IRDM): IRDM is a new Buy at CRT Capital.

Lincoln Electric (LECO): LECO is launched with a Buy at Janney Montgomery Scott.

Media stocks: AMC Networks (AMCX), home of Don Draper, and Discovery Communications (DISCA) are new Neutrals at Macquarie, which starts Scripps Networks Interactive (SNI) at Outperform.

Oaktree Capital (OAK): Bank of America-Merrill Lynch launches Buy rated coverage on OAK.

Onyx Pharmaceuticals (ONXX): Shares are initiated with an Outperform by Sanford Bernstein.

Scorpio Tankers (STNG): Shares are initiated with an Outperform at Imperial Capital.

XPO Logistics (XPO): XPO is initiated with a Buy at Jefferies.

(See Stock Upgrades: Arch Coal a Hot Stock? and Stock Downgrades: Red Ink for Green Dot.)
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No positions in stocks mentioned.
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