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.

Original post by Eric Buscemi

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