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: Cree Can See by the Dawn's Early Light-Emitting Diode


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

LED lighting company Cree, Inc. (NASDAQ:CREE) is up 2.74% this morning after being boosted by an equity analyst who hails its ample cash hoard, vertically integrated business model, and best-in-breed technology.
Mr. Market was indebted to two gray ladies, with the Dow (INDEXDJX:.DJI) and S&P 500 (INDEXSP:.INX) each attaining fresh bests after Janet Yellen and Christine Lagarde sent Wall Street's chattering classes home happy. The silver foxes also sent gold up yet again and, for good measure, Gray Television (NYSE:GTN) gained another 2.40%. Truth be told, however, trading was anemic ahead of the July 4th holiday, with the benchmark bourse failing to budge 1% for a 53rd straight session. (That's its longest such streak since 1995, the first half of which Tuesday's Team USA's goal-getting hero Julian Green wasn't yet on planet Earth. Feel old?) Svedka vodka owner Constellation Brands (NYSE:STZ) rocked, rising 2.34% to a record after its CEO Sands announced excellent earnings even as Mr. Bond was left shaken, not stirred as the exodus at Newport Beach rolled inexorably on. The Nasdaq (INDEXNASDAQ:.IXICturned to tennis to ring its opening bell and ended up the day's sole decliner among major indices. Silly. It should know love means nothing in that sport. By contrast a broker boost saw pharmaceutical firm Eli Lilly (NYSE:LLY) enjoy Love and Other Drugs. This as WebMD (NASDAQ:WBMD), which we identified as "The Love Doctor" on Valentine's Day, jumped 4.43% to a fresh peak on an identical analyst upgrade.
Today in economic data, June's ISM services index is expected to tick up from the prior month's pace at 10:00 a.m. EDT. US equity markets close early at 1:00 p.m. ahead of the tomorrow's July 4th holiday.

Now let's review this morning's analyst actions, a group that features a couple of big broadcasters plus headline stock Cree, Inc.

Athlon Energy (NYSE:ATHL): UBS increases its investment assessment to Buy from Neutral.
Cree, Inc. (NASDAQ:CREE): Today's headline equity is taken to Outperform from Perform at Oppenheimer, whose price objective is established at $59.
Gray Television: Wells Fargo keeps its Outperform rating intact but raises its target price range to $14-to-$16 from a prior $13-to-$15 following the TV industry's favorable Supreme Court ruling against Aereo.
Mediaset (OTCMKTS:MDIUY): Mediobanca moves the Italian broadcast behemoth to Neutral from Underperform.
Rightmove (OTCMKTS:RTMVY): Shares are added to the Buy List at Citigroup.
Salvatore Ferragamo (OTCMKTS:SFRGF): The Italian luxury leather name, lowered yesterday, is now Neutral from Underperform at Mediobanca.
Tenaris (NYSE:TS): Goldman Sachs takes TS to Neutral from Sell, sending it up 2.12% as we speak.
TF1 Group (OTCMKTS:TVFCF): The French broadcasting firm, formally known as Societe Television Francaise 1, is up nicely in today's overseas trading. This, after being added to Citi's Key Buy list of European equities. A compelling valuation is cited.

Also see:

New Stock Coverage: Parsley Energy a Sage Investment Over Time?
Stock Downgrades: Declare Your Independence From Regado Biosciences
< 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