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Stock Upgrades: Fishing for Chips? Try Texas Instruments Incorporated


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

On a day dominated by Third Point, the S&P 500 (^GSPC) set a new record by one point. Not that all stocks shared in the ebullience. Indeed, thanks to the actions of the aforesaid Mr. Loeb, Yahoo (YHOO) fell 4.29% to turn in the index's poorest performance. Marissa Mayer, who revealed she was pregnant on the day of her hiring, and revamped the tech firm's maternity policies nine months into her tenure, should surely have overseen a better showing to greet the royal birth. (Then again, her heritage is from Finland, and Kate Middleton likely cared not a jot for the country's awfully odd baby gifts.) We still don't know the name of the spare heir, but can say with certainty that he is unlikely to be burger-flipping at age 92 to make ends meet. Such a fate has befallen an Iowa employee of McDonald's (MCD), and her pension plan deserved far better than a Dow (^DJI)-worst 2.68% drop in that stock. Silva saved Portuguese equities and gold surged 3.2% for its best day in over a year. Indeed Eldorado Gold (EGO) gained 9.54% as an analyst started the stock at "Overweight." On hearing this, Dubai had bullion at "hello."

A quite quiet week in economics continues, with no top-tier data due this morning. By contrast, this is the single busiest spell for Q2 earnings announcements, with Altria (MO), Apple (AAPL), AT&T, Inc. (T), Broadcom (BRCM), Discover Financial Services (DFS), DuPont (DD), Electronic Arts (EA), Travelers (TRV), United Parcel Service (UPS), and United Technologies (UTX) all among companies reporting results today.

Baker Hughes (BHI): The oil services outfit is upgraded to Outperform from Perform at Cowen, which also increases its price objective by $7 to $57. Earnings demonstrated strength in the Gulf of Mexico, while pressure pumping gains also augur well.

Clayton Williams (CWEI): Shares are moved to Market Perform from Underperform at Raymond James.

Fidelity National (FIS): FIS is now Neutral from Underperform at Credit Suisse.

Hasbro (HAS): Needham takes the toy titan to Buy from Hold, establishing a $52 target price after Q2 results showed its Games and Girls segments were up by double digits.

Hershey Foods (HSY): Citigroup adds the confectionery company to its Top Picks Live list.

Lennox International (LII): Global Hunter Securities gives the diversified machinery firm a Buy-from-Accumulate lift.

Navios Maritime Partners (NMM): The nautical name is now Overweight from Neutral at JPMorgan.

Philips Electronics (PHG): JPMorgan moves the equity to Overweight from Neutral.

Texas Instruments Incorporated (TXN): The analog chip maker, up about 2.89% ahead of the open on an upbeat earnings outlook, is taken to Neutral from Reduce at SunTrust.

Total System (TSS): The stock gets increased to Outperform from Neutral at Credit Suisse.

(See also: Stock Downgrades: Annie's Inc Is No Stock for (Widows and) Orphans and New Stock Coverage: Is Noodles & Co Already Pasta Its Peak?)
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