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: BlackBerry Gets Its Groove Back


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

BlackBerry (NASDAQ:BBRY), left for dead not long ago, surged 24.33% last week on its better-than-expected fiscal first quarter earnings. Adding to the optimism, the tech firm recently inked an agreement with Amazon (NASDAQ:AMZN) to make more than 240,000 Android apps available to BlackBerry 10 clients via Amazon's app store. Admittedly, much of BlackBerry's recent stabilization has come from cost cuts, and the company's stock is still in the hole to the tune of 29.83% over the past 12 months. For now, however, the turnaround engineered by CEO John Chen is attracting analyst accolades.
Evidently inspired by that six-fingered fútbol family in Brazil, the record-breaking Dow Average (INDEXDJX:.DJI) and S&P 500 Index (INDEXSP:.INX) have each advanced for six straight sessions, with the latter's surge since its satanic low of 666 truly extraordinary. Among equities on the move, American Apparel (NYSEMKT:APP) advanced 10%, even if its disgraced founder is neither American nor, apparently, much fond of apparel. I see London, I see France, indeed. An utterly unloved Oracle (NYSE:ORCL), which fell 3.98% on Friday, has seen quite enough of London, and a boy in France went to remarkable lengths to avoid the dentists. (Silly, since Sirona Dental Systems (NASDAQ:SIRO) put its money where its mouth is and ended the week with a 2.60% surge to historic highs.) A stamp shattered auction records and the check was in the mail at FedEx (NYSE:FDX). The postal powerhouse gained 5.6% even as its Mr. Smith went to Washington without offering an opinion on the Redskins.
Today in economics, May existing home sales are expected to improve from the prior month's pace at 10:00 a.m. EDT. On the earnings front, Micron Technology (NYSE:MU) and Sonic Corp (NASDAQ:SONC) each release results.
Now let's analyze this morning's rating increases, a group that includes the Financial Times publisher besides our aforementioned BlackBerry.
Ashland (NYSE:ASH): KeyBanc Capital Markets moves the stock to Buy from Hold.
Barclays (NYSE:BCS): The British bank gets a Buy-from-Hold boost by Canaccord Genuity.
BioCryst Pharmaceuticals (NASDAQ:BCRX): Shares are upgraded to Outperform from Market Perform with Wells Fargo.
BlackBerry: Evercore takes today's headline equity to Equal Weight from Underweight. Its price objective also increases, to $10 from $6.
Burlington Stores (NYSE:BURL): The stock is now Buy from Neutral at Goldman Sachs.
DISH Network (NASDAQ:DISH): Citigroup raises its rating to Buy from Neutral.
Express Inc. (NYSE:EXPR): The apparel outfit gets upgraded to Buy from Neutral at Janney.
HSN Inc. (NASDAQ:HSNI): Topeka Capital takes the home-shopping titan to Buy from Hold amid improving growth trends and attractive acquisition prospects. The target price, previously $60, is also taken up by $7.
Pearson (NYSE:PSO): The Financial Times publisher is moved to Equal Weight from Underweight at Morgan Stanley.
Sequenom (NASDAQ:SQNM): Shares are boosted to Outperform from Perform by William Blair.
Also see:

New Stock Coverage: Emerald Oil a Sea of Green

Stock Downgrades: Red Lobster Owner Darden Restaurants Can't Claw Its Way Back
< 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