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: Goldman Given a Blankfein Check


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

In Australia, money now literally grows on trees. Alas, here in America, equities went Down Under and not because the dingo ate my baby, but due to the Caterpillar (NYSE:CAT) that swallowed the canary. The pride of Peoria slumped 6.07% and took Dow Industrials (INDEXDJX:.DJI) down with it. Beleaguered JC Penney (NYSE:JCP) actually surged 7.48% but too late, alas, for billionaire Bill Ackman who lost so much money in the stock he must now travel by bike. (Rather contradicting the results of a recent survey.) Elsewhere, it was a good day for "big and tall guys," with Destination XL Group (NASDAQ:DXLG) gaining 2.76% to a fresh best, and an upgraded Apollo Group (NASDAQ:APOL), which graduated Shaquille O'Neal, advancing 27.98% in its best day ever.

The single busiest session for third quarter earnings is upon us, with (NASDAQ:AMZN), Credit Suisse (NYSE:CS) Dow Chemical (NYSE:DOW), Ericsson (NASDAQ:ERIC), Ford (NYSE:F), Microsoft (NASDAQ:MSFT), 3M Co (NYSE:MMM) Under Armour (NYSE:UA), Western Digital (NASDAQ:WDC), and Zynga (NASDAQ:ZNGA) all due to announce results.

Agnico-Eagle Mines (NYSE:AEM): AEM is upgraded to Outperform from Perform at BMO Capital Markets.

Canadian Pacific (NYSE:CP): Calling current targets conservative, RBC Capital raises the railroad to Sector Perform from Underperform. Its price objective is increased to $133.

Corning (NYSE:GLW): After yesterday's surge, shares are upgraded to Buy from Hold at Cross Research.

Chesapeake Energy (NYSE:CHK): The energy name is now Buy from Neutral at Citigroup.

Eli Lilly (NYSE:LLY): LLY is lifted to Buy from Neutral at MKM Partners.

French Banks: Bank of America-Merrill Lynch lifts BNP Paribas (OTCMKTS:BNPQY) and Société Générale (OTCMKTS:SCGLY), both now Buy from Neutral.

Goldman Sachs (NYSE:GS): The financial giant and Dow (INDEXDJX:.DJI) member, whose Lloyd Blankfein has just consolidated his grip on power, gets upgraded to Buy from Hold at Deutsche Bank. Shares, snapping a recent slide, are accordingly up as I write.

Ironwood Pharmaceuticals (NASDAQ:IRWD): Shares are increased to Outperform from Perform at Cowen.

JAKKS Pacific (NASDAQ:JAKK): The toymaker is taken to Buy from Neutral at B. Riley & Co., whose target increases to $8.50 from $4.50.

Lam Research (NASDAQ:LRCX): LRCX gets lifted to Buy from Neutral at Goldman.

Urban Outfitters (NASDAQ:URBN): Shares are upgraded to Overweight from Neutral at Atlantic Equities.

US Airways (NYSE:LCC) Shares are upgraded to Buy from Hold at Deutsche Bank.

(See also: Stock Downgrades: Caterpillar Still in the Doghouse and New Stock Coverage: This Is Time Warner's Moment in the Sun)
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