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Analyst initiations: NVS, WSII, AMCN and PAET

MOST NOTEWORTHY: Novartis, Waste Systems, AirMedia Group, and PAETEC Holding were today's noteworthy initiations:
  • Novartis (NYSE: NVS) was initated with a Neutral at Cowen, which cited the company's upcoming patent expirations.
  • Gabelli initiated Waste Systems (NASDAQ: WSII) with a Buy, as it believes consolidated operations in Florida, increased waste internalization, and continued price increases, should lead to expanding EBIT margins.
  • Oppenheimer initiated AirMedia Group (NASDAQ: AMCN) with an Outperform, as it believes that the Beijing Olympics will help the company acheive better than expected earnings.
  • Deutsche Bank initiated PAETEC Holding (NASDAQ: PAET) with a Buy, as the firm believes PATEC is well-positioned to benefit from improving industry conditions.
OTHER INITIATIONS:
  • Wachovia started Seaspan (NYSE: SSW) with a Market Perform.
  • Needham initiated Memsic (NASDAQ: MEMS) with a Buy.
  • Oppenheimer started Intellon (NASDAQ: ITLN) with an Outperform.
  • Morgan Stanley initiated Dice Holdings (NYSE: DHX) with an Equal Weight.

Cramer goes 'short busting'

Tonight on CNBC's MAD MONEY, Cramer wanted to review a couple of stocks that the Short Sellers have wrong; he calls it SHORT BUSTING. This is where there are too many Short Sellers in the wrong stock under the wrong logic. Cramer said that when he used to short he was worried the stock he shorted was actually of value. When the Short Sellers have to cover in a short squeeze it can really make it move. He looks at the average volume-per-day and the insider buying.

Cramer thinks Waste Services (NASDAQ:WSII) is one of his plays and that the shorts are wrong. He loves waste removal companies and here's what is wrong with the Short Sellers.

Greenbrier Companies (NYSE:GBX), the railroad equipment maker, is Cramer's second SHORT BUSTING stock. The insiders have started buying and here's what else he likes.

These picks from Cramer went up in after-hours by large amounts after he discussed these names.

Jon Ogg is partner in 24/7 Wall St., LLC; he does not own securities in the companies he covers.

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Last updated: February 13, 2012: 10:58 AM

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