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Stock Upgrades: Royal Bank of Canada Stock Heads North


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

On the day we bid goodbye to both America's wealthiest zip code and 2 Broke Girls, stocks seemed similarly torn between riches and penury. Dow Industrials (^DJI) dropped even as S&P 500 (^GSPC) shares reached fresh peaks, with health care companies besting all industry groups. (Although over at Bloomberg L.P., a CEO named Doctoroff has his work cut out to cure a cancer that looks terminal.)

Manchester United (MANU) rose 0.78% to recoup a measure of last week's mauling, when the decision of its coach to call it quits caused investors to lose their shirts. Still, its assorted shirt sponsors fared even better, as AON Plc (AON) advanced 1.61% to an all-time high, an upgraded American International Group (AIG) gained 1.04%, and Sharp (OTCMKTS:SHCAY) surged 12.50%.

Today's quarterly earnings announcements are expected to include Agilent Technologies (A), Eagle Materials (EXP), Sharp (OTCMKTS:SHCAY), and Valspar (VAL).

Applied Materials (AMAT): Pacific Crest takes the tech stock to Outperform from Market Perform.

Copa Holdings (CPA): Shares get upgraded to Overweight from Equal Weight at Evercore.

Dean Foods (DF) Shares are up 2.4% as I write on a Buy-from-Neutral increase at Janney Capital, which says its upcoming spin-off of White Wave will be a catalyst.

Fusion-io (FIO): Shares are up sharply in today's pre-market trading after getting boosted to Buy from Neutral at UBS. The bank believes last week's sell off following the departure of FIO's co-founder was excessive.

Lakeland (LBAI): Sandler O'Neill lifts LBAI to Buy from Hold.

Royal Bank of Canada (NYSE:RY): Shares are raised to Equal-Weight from Underweight at Morgan Stanley.

Vestas Wind Systems (OTCMKTS:VWDRY) The stock, a stellar performer yesterday, is now Overweight from Neutral at HSBC Securities.

WellPoint (WLP): The stock is hoisted to Buy from Hold at Jefferies.

Weyerhaeuser (WY): Raymond James juices its rating to Strong Buy from Outperform.

(See also: New Stock Coverage: Disney Still the Big Cheese and Stock Downgrades: Wal-Mart Hits Brick Wall.)
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