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Stock Upgrades: Deutsche Bank in Seventh Heaven


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

It's a fine time to be German. Still basking in the afterglow of a 7-1 Teutonic triumph on the fútbol fields of Brazil, Frankfurt's own Deutsche Bank (NYSE:DB) is trading up 1.03% today after attracting an analyst upgrade. A capital increase at the end of June, which garnered gross proceeds of 8.5 billion euros, is cited for the increased optimism on the financial firm.
As for yesterday's action, stocks slumped as buyers sat on the sidelines, awaiting to see whether a German-lead team would come through in the four o'clock Eastern hour. But enough about a certain soccer game in South America. For I speak instead about Alcoa's (NYSE:AA) Bremen-born CEO Klaus Kleinfeld, who inspired his stock to a 1.68% after-hours surge at about the exact moment that his countrymen were driving Brazil nuts. Such a solid start to earnings season in extended trading was of little use to Wall Street during the day, however, and Dow Industrials (INDEXDJX:.DJI) duly dropped by triple-digits. As for Brazil -- cheer up, lads. Energy giant and Rio's hometown hero Petrobras (NYSE:PBR) -- our World Cup portfolio pick -- actually ended up on an otherwise dire day. Twenty-six-year-old Anna Nicole Smith clearly chose her industry carefully in marrying octogenarian oil tycoon J. Howard Marshall. The Guess (NYSE:GES) supermodel could also crack a celestial smile at that stock, for it jumped 3.87% on a broker boost. Alas, fellow scantily clad clothing company American Apparel (NYSEMKT:APP) fell 5.07% after its founder had shareholders saying "Houston (Street), we have a problem." Aerospace outfit Boeing (NYSE:BA) railed against the unfairness of it all, dropping a Dow-worst 1.78% after finding itself under water in Big Sky country. That punk performance just about edged out "Great Vampire Squid" Goldman Sachs (NYSE:GS) for the dubious distinction, with the financial firm falling 1.71%. It was just last week that Goldman sent Netflix (NASDAQ:NFLX) surging to a historic high on its analyst upgrade, but now the streaming service, fresh from nosediving 3.38% as momentum names sold off, quite literally can't pay people to own it.
Today at 2:00 p.m. EDT., the Federal Open Market Committee releases minutes to its June 18 meeting. In earnings action MSC Industrial (NYSE:MSC) and WD-40 Company (NYSE:WDFC) each release results.
Now let's analyze this morning's research recommendations, a group encompassing a charge card king as well as our aforementioned Deutsche Bank.

American Express (NYSE:AXP): Guggenheim gives the key blue chip component a Buy-from-Neutral boost. Its price objective is $109.
Apollo Investment (NASDAQ:AINV): Shares are now Buy from Neutral at Sun Trust.
Broadcom (NASDAQ:BRCM): Oppenheimer increases its investment assessment to Outperform from Perform.
Deutsche Bank: Today's headline equity gets moved to Overweight from Neutral at its fellow financial firm JPMorgan.
Gol Linhas Aéreas Inteligentes (NYSE:GOL): Gosh this is cruel. After being outscored by 7 to 1 last night, the pride of São Paulo is raised to Outperform from Perform at Raymond James.
HollyFrontier (NYSE:HFC): HFC is hoisted to Outperform from Market Perform with Wells Fargo.
Royal Dutch Shell (NYSE:RDS.A): Deutsche Bank boosts the energy outfit to Buy from Hold.
Schlumberger (NYSE:SLB): Shares are now Overweight from Neutral at HSBC Securities. The target price is also taken up substantially, by $30 to $135.
Seattle Genetics (NASDAQ:SGEN): UBS lifts the company to Buy from Neutral.

Also see:

New Stock Coverage: Shark Week's Discovery Communications Has Not Jumped the You-Know-What

Stock Downgrades: BP Given Das Boot by the Germans
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