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Stock Upgrades: Bulls Run on Adidas AG


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

They say bad news comes in threes, and after Japan's blunt third arrow and Europe's impotent troika, our own Dow (^DJI) average experienced its first three-day decline of 2013 amid another triple-digit swing. With "1984″ all the rage again, International Business Machines Corp (IBM) - for whom it will always be that year in Apple Inc.'s (AAPL) eyes - may be about to inflict an Orwellian nightmare on its workers.

If all that's enough to drive investors to drink, at least Boston Beer (SAM) - which similarly dates to Sam Malone's heyday 29 years ago - surged 5.48% on a broker boost. Meanwhile Manchester United (MANU), known as the "Red Devils," nosedived 9.17% but there was better news for the "devil's metal" as a silver certificate sold for big bucks.

Today in economics, April business inventories are expected to tick up slightly at 10:00 a.m. Eastern. On the corporate front, Barnes & Noble, Inc. (BKS) and Casey's General Stores, Inc. (CASY) are both due to report results.

Adidas AG (ADR) (ADDYY): The German sneaker and athletic apparel giant gets moved to Overweight from Neutral at JPMorgan.

Ares Capital Corporation (ARCC): ARCC is increased to Outperform from Perform by Keefe Bruyette.

Carnival Corporation (CCL): The troubled cruise company is taken to Buy from Add at Numis.

Celgene Corporation (CELG): Argus raises its recommendation to Buy from Hold with a $140 price target, as it sees the stock as an increasingly compelling value at current levels.

EMC Corporation (EMC): Shares are upgraded to Outperform from Sector Perform at Pacific Crest.

General Growth Properties Inc (GGP): The Real Estate Investment Trust gets raised to Equal Weight from Underweight at Evercore.

Gilead Sciences, Inc. (GILD): The biotech gets boosted to Buy from Hold at Argus.

Hercules Offshore, Inc. (HERO): The energy outfit is hoisted to Outperform from Market Perform with Wells Fargo.

HSBC Holdings plc (ADR) (HBC): Investec increases its investment option on the financial firm to Buy from Reduce.

International Paper Company (IP): Goldman Sachs adds the company to its Conviction Buy List amid an increasingly favorable pricing environment.

Research In Motion Ltd (BBRY): Citing encouraging channel checks on the company's latest device, Société Générale raises the BlackBerry maker an unusual 180 degrees (Buy from Sell.) Shares are responding by trading 2.51% higher as I write.

Ross Stores, Inc. (ROST): Shares get a Buy-from-Neutral boost at Sterne Agee.

(See also: New Stock Coverage: American Express Company Set to Stall? and Stock Downgrades: Waste Management, Inc. Sent to Sin Bin.)

Disclosure: Minyanville Studios, a division of Minyanville Media, has a business relationship with BlackBerry.
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