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New Stock Coverage: Money Talks at Charter Communications


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

MINYANVILLE ORIGINAL QE2′s party just ended but the prospect of QE3 kick-started another celebration on Wall Street. High hopes for further quantitative easing from the Fed sent stocks surging, with both the Dow (^DJI) and S&P 500 (^GSPC) enjoying their single best session of the year. As for the Nasdaq (^IXIC), it oddly enough ended up 66 on 6/6, although hopefully censors in China won't read too much into that. The rally was so widespread that even Facebook (FB), up 3.64%, and its inauspicious IPO sidekick Nasdaq OMX Group (NDAQ) , a 1.72% gainer, showed strength. The latter's CEO said he "can't wait for my life to get back to normal" but the last time a head honcho said the same thing, he was quite literally sent to Siberia.

Today in economics, Fed head Ben Bernanke begins congressional testimony at 10:00 a.m. Eastern and April consumer credit is expected to contract at 3:00 p.m. On the earnings front, Altera (ALTR), Bio-Reference Labs (BRLI), Cascade Corp (CASC), Isle of Capri Casinos (ISLE), JM Smucker (SJM), Lululemon Athletica (LULU), and Titan Machinery (TITN) are all due to release results.

Charter Communications (CHTR): Shares are initiated with an Outperform by Sanford Bernstein, whose price objective is $6.

Compass Group PLC (CMPGY.PK): HSBC Securities starts the stock at a Neutral.

International Rectifier (IRF): IRF is a new Outperform at Wells Fargo.

Metropolitan Health Networks (MDF): The stock is a new Outperform at Oppenheimer.

Oil & Gas: Triangle Petroleum (TPLM): TPLM is a new Buy at Wunderlich, which has a Hold on Continental Resources (CLR).

Pharmacyclics (PCYC): Shares are a Buy at Brean Murray.

Xenoport (XNPT): The stock is initiated with an Outperform at Credit Suisse.

(See also: Stock Upgrades: Britain's Burberry Looks Like Royalty and Stock Downgrades: Tempur Pedic Sleeps With the Fishes.)

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No positions in stocks mentioned.
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