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Stock Upgrades: Plain Sailing for Seagate


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

Dow Industrials (INDEXDJX:.DJI) shrugged off the government shutdown to enter October with a solid increase. Given certain, ahem, incidents in equities that scarred this month in 1929 and 1987 and 1989 and 1997, let's hold off on the champagne, however. Then again, maybe not. After all, Henry Ford (NYSE:F) famously said "history is bunk" and his car company just rode stellar sales to advance another 1.90%, and on an iconic date in its, well, history. Other good gainers included Buffalo Wild Wings (NASDAQ:BWLD), which jumped 4.56% after shrugging off an analyst downgrade. It is actually based in Minnesota but Computer Task Group (NASDAQ:CTG), up 10.77% on a broker boost, really does hail from the upstate New York city. Send some shares to a hometown politician who may be the only sane member of Congress.

No top-tier economic data due today, and even if there were, good luck hearing about it thanks to Uncle Sam's shutdown. Corporate earnings announcements are due to include Monsanto (NYSE:MON), Tesco (OTCMKTS:TSCDY), and Texas Industries (NYSE:TXI).

Allstate (NYSE:ALL): Keefe Bruyette boosts the insurance outfit, famous for its "good hands" ads, to Outperform from Market Perform. Its price objective, previously $54, increases to $62.

Barclays (NYSE:BCS): The British bank is hoisted to Buy from Hold by its fellow financial firm Société Générale.

Barrick Gold (NYSE:ABX): Deutsche Bank raises the commodity company to Buy from Hold.

Everest Re (NYSE:RE): Barclays increases the reinsurance firm to Overweight from Equal Weight.

Global Payment (NYSE:GPN): GPN gets upgraded to Buy from Neutral at Janney.

Manpower (NYSE:MAN): Bank of America-Merrill Lynch moves the stock to Buy from Neutral.

Prudential Plc (NYSE:PUK): The British company - a separate entity from America's Prudential (NYSE:PRU) - is added to the European Focus List at Credit Suisse.

Seagate Technology (NASDAQ:STX): Pacific Crest takes the recently-surging stock to Outperform from Sector Perform.

Tesoro (NYSE:TSO): The oil refiner is now Buy from Neutral at Citigroup.

(See also: New Stock Coverage: Abercrombie, Out of Detention, Rejoins the 'Cool Kids' and Stock Downgrades: Wall Street, Why Did U-Turn On Tesla?)
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No positions in stocks mentioned.
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