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Stock Upgrades: Swatch Has Time on Its Side


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

Stocks staggered to a split decision, with Wall Street unable to match a stellar showing up on Third Avenue. Thus did the Dow (INDEXDJX:.DJI) drop modestly even as Forest Laboratories (NYSE:FRX) -- based, as indeed is Minyanville itself, on that midtown Manhattan thoroughfare - surged some 27.52% to top the entire S&P 500 Index (INDEXSP:.INX). Carl Icahn earned almost $1.7 billion on that drug deal, so Sports Illustrated cover girl Christine Teigen may want to take back her 2012 tweet dissing one of his employees. "I cannot explain how hard I just fell asleep," she said back then, clearly bored with the news that he would become a board member at Chesapeake Energy (NYSE:CHK), whose own stock just jumped 2.74%. One hopes the swimsuit supermodel had the good sense to sleep on a Tempur Sealy (NYSE:TPX), especially after the mattress maker advanced 1.48% on a broker boost. Gold gained for its ninth consecutive session and Nasdaq (INDEXNASDAQ:.IXIC) is now up for eight straight days. Each are on their best runs since July 2011. (If you don't want to know how that one ended, look away now.) Elsewhere, riots in Ukraine have the European Union moving toward imposing sanctions. After they take care of the truly important stuff right next door, namely banning ladies' lingerie in Mother Russia. And a new study showed children of street sweepers in China score higher in math than do the kids of American executives. Their fathers already own our country, folks.

Today at 2:00 p.m. Eastern, the Federal Open Market Committee releases minutes to its January 29 meeting. In earnings action, Avis Budget (NASDAQ:CAR), Marriott (NYSE:MAR), Six Flags (NYSE:SIX), and Tesla Motors (NASDAQ:TSLA) all release results.

Actavis (NYSE:ACT): ACT gets upgraded to Buy from Neutral at Goldman Sachs. Yesterday its stock surged 5.00% after agreeing to buy Forest Labs, in what was an unusually large share-price increase for an acquiring company.

CEMEX S.A. (NYSE:CX): Sterne Agee moves the Mexican cement stock to Buy from Neutral.

Fluor Corp (NYSE:FLR): The stock is now Outperform from Neutral at Macquarie. Its price objective, previously $70, increases to $98.

Glencore (OTCMKTS:GLNCY): Investec increases its investment assessment to a still less-than-stellar Reduce rating from its prior even-more-punk Sell opinion.

Gogo Inc (NASDAQ:GOGO): GOGO, a provider of in-flight WiFi, gets an Overweight-from-Equal Weight increase at Evercore. Its target price is $26.

Marks and Spencer (OTCMKTS:MAKSY): Jefferies raises the iconic English retailer to Buy from Hold.

M&T Bank (NYSE:MTB): MTB is moved to Buy from Neutral at SunTrust.

Pan American Silver (NASDAQ:PAAS): With silver having risen for 14 straight sessions -- its best sequence in 45 years -- shares are boosted to Perform from Underperform by BMO Capital.

Red Hat (NYSE:RHT): Cowen takes the tech name to Outperform from Market Perform.

Saia Inc (NASDAQ:SAIA): Calling it a preeminent earnings growth play in the transportation industry, Wunderlich boosts this company to Buy from Hold. Its target is also taken up, by $8 to $40.

Swatch Group (OTCMKTS:SWGAY): Shares in the plastic timepiece titan, credited with saving the Swiss watch industry from the Japanese-led quartz onslaught of the 1970s, are trading up in Europe today. This, on the back of an Overweight-from-Equal Weight increase at Barclays, which says that "unlike the leather goods operators, [it] should benefit from a gross margin boost."

See also:

Stock Downgrades: The Sun'll Come Out Tomorrow for SolarCity, but Today Its Stock Isn't for Orphans (MV Pro)

New Stock Coverage: Tesla a 21st Century DeLorean? (MV Pro)
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