Pali upgraded Time Warner Cable to "neutral" from "sell," saying its current valuation more accurately reflects the risks to ’09 earnings growth. Pali‘s Rich Greenfield has frequently sounded alarm about the MSO’s ability to reach a retrans agreement with Univision, but TWC is now saying that if it loses local Univision stations it will replace them with the Spanish-language broadcaster’s national feed. Univision isn’t commenting, and Greenfield didn’t address it in his research note, only saying that the firm remains worried about the impact of retrans/programming negotiations. — The damaging clouds over Wall St abated Mon, inducing surges across US markets and leaving the sun to shine on media stocks for at least 1 day. Among the day’s big winners: Qwest (+25.7%), Viacom (+23.2%), Mediacom (+21.5%), DISH (+20.3%), DirecTV (+18.4%), Cablevision (+17.6%), and Discovery (+17.4%). — Macrovision has sold TV Guide magazine to Opengate Capital for an undisclosed amount, but has retained the linear net and related online properties.