Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Stock Upgrades: Symantec Stops the Bleeding


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

Stocks partied like it was 1999 as First Solar (NASDAQ:FSLR), founded that fabulous year, surged 36% to lead another impressive showing for the S&P 500 Index (INDEXSP:.INX). Clearly A-ha was half right when informing us, way back when we were still fighting the Cold War, that "The Sun Always Shines On TV." (Apple Inc. (NASDAQ:AAPL) and Gray Television (NYSE:GTN) would dispute the bit about the box.) Sears (NASDAQ:SHLD), much like those Scandinavian singers, were big back in the '80s before enduring a catalog of woes, but its 8.93% advance last week hints at a return to former glories. Timbuk 3 told us that "The Future's So Bright, I Gotta Wear Shades" in a song from 1986. That same year disaster struck the Ukrainian city of Chernobyl, so the opening lyrics -- "I study nuclear science/I love my classes/I got a crazy teacher, he wears dark glasses" -- make especially ironic reading. Here's looking at you, President Putin, the seriously shady character who evidently inspired Pacific Sunwear of California (NASDAQ:PSUN), an Anaheim outfitter of sunglasses for surfer dudes, to an 8.51% increase. As a child of the Reagan era, I would love to complete a trifecta of tunes from that decade by saying we are all set for a Manic Monday but, alas, no. (And definitely don't go shopping for your bangles at Tiffany (NYSE:TIF) today, as Goldman Sachs (NYSE:GS) just cut the jeweler.)
Indeed it is actually a deadly dull start to the week, utterly bereft of any top-tier domestic economic data or earnings announcements. Overseas, China Petroleum & Chemical (NYSE:SNP) did release its results overnight.
Axiall (NYSE:AXLL): Bank of America-Merrill Lynch lifts the building products name to Buy from Neutral.
Banco Bradesco (NYSE:BBD): BBD gets an Outperform-from-Neutral boost at Credit Suisse.

Bank Stocks: Atlantic Equities gives Neutral-from-Underweight upgrades to both US Bancorp (NYSE:USB) -- target price taken to $44 from $39 -- and Wells Fargo (NYSE:WFC), which finished Friday at the highest level in its history.
Boston Scientific (NYSE:BSX): The medical device maker is moved to Outperform from Market Perform by Sanford Bernstein, sending shares up 1.40% as we speak.
EverBank Financial (NYSE:EVER): Sterne Agee increases EVER to Buy from Neutral.
Lloyds (NYSE:LYG): The British bank is bucking a broadly lower London tape today, up impressively on the back of a Buy-from-Hold hoist at Investec.
Ross Stores (NASDAQ:ROST): RBC Capital raises ROST to Outperform from Perform and also increases its price objective by $2 to $81. The broker expresses optimism over an off-price business model.
STAAR Surgical (NASDAQ:STAA): Shares get upgraded to Outperform from Perform by William Blair.
Stratasys (NASDAQ:SSYS): The 3D printing name is up 3.80% this morning after being moved to Overweight from Neutral at JPMorgan.
Symantec (NASDAQ:SYMC): Shares, which tumbled 12.94% on Friday amid a ratings reduction and CEO firing, are today taken to Outperform from Market Perform with a $22 target price by BMO Capital Markets. The bank cites a plethora of strategic options available to the ailing outfit.
United Continental (NYSE:UAL): Raymond James juices its recommendation on the airline to Outperform from Market Perform.
VMware (NYSE:VMW): The tech name is now Buy from Neutral at Sterne Agee.
Yanzhou Coal Mining (NYSE:YZC): JPMorgan moves the Chinese commodity company to Overweight from Neutral.
Yelp, Inc. (NYSE:YELP): Shares get an Outperform-from-Perform upgrade at JMP Securities, which cites margin growth and robust revenue prospects.

Also see:

New Stock Coverage: Descartes Systems Can Afford to Be Philosophical
Stock Downgrades: Bank of America No Longer Such a Steal
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos