Stock Upgrades: Green Mountain Scales the Summit

By Justin Sharon  MAY 09, 2013 9:17 AM

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

 


Stocks reached new records as the market once again partied like it was ’99. (That would be 1899, it being free market economist Friedrich Hayek’s birthday and all.) A research recommendation sent Spirit Airlines (SAVE) surging 1.86% to the highest level in its history. Its shares now no longer go for a song, despite the words of a chart-topping ditty from 1986.
 
Ah, 1986 — the year Alex Ferguson took over at storied soccer team Manchester United (MANU). News of his departure sent its shares sliding 1.76%. Los Angeles, to the surprise of no one, was named America’s worst city for traffic congestion. Still, that is no excuse for letting an Enron felon walk, especially in a session prison stock Geo Group (GEO) gained 0.42% to an all-time best.
 
Today in economics, analysts expect March wholesale inventories to pick up from February’s pace at 10:00 a.m. Eastern. In earnings action, AES Corporation (AES), Carlyle Group (CG), Dean Foods (DF), Dish Network (DISH), Nvidia (NVDA), Priceline (PCLN), Repsol (PINK:REPYY), Skechers (SKX), Sony (SNE), and Sotheby’s (BID) are all due to release results.
 
American Water Works (AWK): Shares get upgraded to Outperform from Market Perform at Wells Fargo following its first-quarter earnings announcement. Customers are being added and the divided increased.
 
Banco Bilbao (BBVA): The Spanish financial firm gets a Buy-from-Hold boost at Société Générale.
 
BG Group (PINK:BRGYY): Deutsche Bank hoists the British gas outfit to Buy from Hold.
 
Ctrip.com (CTRP): Shares are upgraded to Buy from Neutral at Bank of America-Merrill Lynch.
 
Green Mountain Coffee Roasters (NASDAQ:GMCR): Shares, surging 15.33% before the bell, are now Buy from Neutral at Dougherty.
 
IAMGOLD (IAG): IAG gets increased to Buy from Hold at Mackie Research.
 
Maidenform Brands (MFB): Bream Capital moves MFB to Buy from Hold.
 
Mediaset SpA (PINK:MDIUY): Morgan Stanley moves the media empire controlled by Italy’s Silvio Berlusconi to Equal Weight from Underweight.
 
MGM Resorts (MGM): The casino company is trading higher ahead of the open on an upgrade to Buy from Neutral at Sterne Agee.
 
XOMA Corporation (XOMA): The biotech, up 18.21% ahead of the open, gets upgraded to Buy from Hold at Canaccord Genuity.

(See also: New Stock Coverage: Jacobs Engineering Can’t Keep Climbing Ladder to Stars and Stock Downgrades: Tumi Has Too Much Baggage.)
No positions in stocks mentioned.

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