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Stock Upgrades: Royal Bank of Canada Stock Heads North

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

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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.)
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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