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Stock Upgrades: Shutterfly Has a Kodak Moment


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

Mustang Wanted, meet Don Draper. Much like our aforementioned daredevil (from Ukraine, of all places), the Nasdaq (INDEXNASDAQ:.IXIC) -- which hit a 14-year high only last month -- had hitherto been on a hair-raising climb. Now, however (and just in time for Sunday's resumption of Mad Men), the tech-heavy bourse is falling back to Earth. Its single worst showing since November 2011 was matched by S&P 500 (INDEXSP:.INX) shares falling down a Hitchcockian 39 Steps. Its 39.10 point plunge represented a 2.09% tumble, and the Dow (INDEXDJX:.DJI) endured similar angst. We can't even blame Moscow for the market mayhem, for Hewlett-Packard (NYSE:HPQ) actually ended up 0.24% after indulging in shenanigans with the Soviets. Even more than Mother Russia, GoDaddy may one day be seen as the sign of a top in equities. In the mother country of merrie olde England, where mum's always the word, Mothercare (LON:MTC) surged 15% following a fine fourth quarter. However, here at home, investors bid buh-bye to utterly unloved buybuy Baby parent Bed Bath & Beyond (NASDAQ:BBBY). It plunged 6.17% after shareholders threw out the baby with the, well -- you know. On a day Wall Street was carried out feet first, shoe stock Crocs, Inc. (NASDAQ:CROX) kicked into high gear. It advanced 2.03% on a broker boost, but better not tell Hillary Clinton.
Today in economics, April's preliminary University of Michigan consumer sentiment survey is seen as increasing slightly from the final figure for March at 9:55 a.m. EDT. In earnings action, big banks JPMorgan Chase (NYSE:JPM) and Wells Fargo (NYSE:WFC) each released results earlier this morning.
A.O. Smith (NYSE:AOS): Robert W. Baird raises its recommendation to Outperform from Perform amid an attractive currently entry point. Its price objective, previously $55, increases all the way to $87.
Corporate Executive Board (NYSE:CEB): Shares are boosted to Buy from Hold at Deutsche Bank.
ConocoPhillips (NYSE:COP): Morgan Stanley moves the energy stock to Equal-Weight from Underweight. Its amended target price is $85.
Demandware (NYSE:DWRE): The stock gets upgraded to Outperform from Perform by BMO Capital Markets.
E-Trade (NASDAQ:ETFC): Another day, another upgrade for the online broker. This morning Barclays boosts it by an unusual 180 degrees (Overweight from Underweight.) The target is also taken up, by $4 to $24.
Ford Motor (NYSE:F): Deutsche Bank hoists the car company to Buy from Hold, sending it up at the moment. This, in what may otherwise be another brutal opening for equities overall.
NewBridge Bancorp (NASDAQ:NBBC): NBBC is now Outperform from Perform at Keefe Bruyette, which increases its objective to $8.50.
Shutterfly (NASDAQ:SFLY): Old-timey Eastman Kodak (NYSE:KODK) surged some 4.89%, even amid Thursday's market bloodbath. Its digital photo equivalent Shutterfly isn't looking too shabby, either, based on this morning's Buy-from-Neutral boost at Goldman Sachs.
SolarWinds (NYSE:SWI): Cowen moves the company to Outperform from Perform.
TD Ameritrade (NYSE:AMTD): The discount broker gets taken to Overweight from Equal Weight by Barclays.
TE Connectivity (NYSE:TEL): Bank of America Merrill Lynch lifts its investment assessment to Buy from Neutral.
Zynga (NASDAQ:ZNGA): Shares get upgraded to Equal-Weight from Underweight at Morgan Stanley.
Disclosure: Minyanville Media has a business relationship with E-Trade.

Also see:

New Stock Coverage: Fed's Top-Secret Videoconference Perking Up Polycom?

Stock Downgrades: President Obama's Shopping Spree Can't Save The Gap
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