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New Stock Coverage: Treasure in Trash at Waste Connections (NYSE:WCN)


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

MINYANVILLE ORIGINAL September 25 saw stocks suffer their steepest slide since June 25, and anyone naïve enough to think the problematic three-month pattern will be broken on December 25 really does believe in Santa Claus. The Dow (^DJI) dropped 101.37 after getting a lesson in Econ 101, namely that no man is an island and financial issues an ocean away will ultimately impact us all.

Notwithstanding a worldwide bacon shortage, PIIGS are again on the march, with Spain taking its turn in the spotlight on Tuesday. The country that once boasted the expensive El Buli, thrice voted the world's best restaurant, now watches in horror as its citizens scavenge for food.

A peso for the thoughts of Barcelona-born Ferran Adrià, master chef owner of the establishment, as his proud Catalonia teeters toward outright independence. The city's chief fútbol team once acquired arguably history's greatest ever player, now worth a king's ransom, for free, so locals certainly offer far better bang for the buck than any Brussels bureaucrat. Adding insult to injury in Iberia, Odyssey Marine Exploration (OMEX), whose 200-year-old shipwreck Madrid eyes enviously as a source of cash, is in no position to pay up after tumbling 10.43%.

Today in economics, analysts expect an increase in August new home sales at 10:00 a.m. Eastern. In earnings action, Progress Software (PRGS) and Worthington Industries (WOR) are among companies due to report quarterly results.

Akorn (AKRX): Bank of America-Merrill Lynch launches Buy rated coverage on the generic drug firm.

Capital Senior Living (CSU): Shares are covered with a Strong Buy at Raymond James, which issues a price objective of $17.

Cepheid (CPHD): The stock is an Overweight at JPMorgan.

Cogent Communications (CCOI): Pivotal Research picks shares up at a Buy.

Community Health (CYH): CYH gets begun Buy at SunTrust Robinson Humphrey.

Garbage Disposal: Republic Services (RSG) and Waste Management (WM) are each initiated with a Hold at KeyBanc Capital, which has a Buy and $37 target on Waste Connections (NYSE:WCN).

Potlatch (PCH): Shares are initiated with a Market Perform at Raymond James.

TW Telecom (TWTC): The name is a new Buy at Pivotal Research.

(See also: Stock Downgrades: Raining on Carnival's (NYSE:CCL) Parade and Stock Upgrades: Sea of Green for Transocean? (NYSE:RIG).)
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No positions in stocks mentioned.
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