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Stock Upgrades: Symantec's Future Is Secure


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

We briefly returned to the 1990s on Monday, that irrationally exuberant era on Wall Street when Dell Inc. (DELL) gained an astonishing 89,374% and analysts spent their time and your money hyping money-losing Internet outfits.

It was a throwback sort of day, with the fallen PC giant jumping 12.96% to top the entire S&P 500 (^GSPC). And indeed the poorest showing on that particular index was a stock that endured a punk performance during the Dell decade but became a cult company in the 2000s. Yes it was a good day for mom, if not Apple (AAPL) pie, for she always told us to "Be nice to people on your way up, because you'll meet them on your way down."

Krispy Kreme Doughnuts (KKD) rose 4.05% to a fresh 52-week peak. Apparently its sugary sins can cause diabetes, which will shock - shock - Paula Deen. (Truth be told she has more pressing concerns after Scripps Networks Interactive (SNI), which hosts her Mashed Potatoes TV show, slumped 1.14% on a ratings reduction.) And Ben Bernanke said we're "not out of the woods yet." Tell Forest Labs (FRX) all about it; shares are slumping 5.29% before the bell.

Today's other earnings announcements include Interactive Brokers (IBKR) and Lennar Corp. (LEN).

Biotechnology: Recently surging Celgene (CELG) is boosted to Buy from Neutral at Bank of America-Merrill Lynch, which gives ViroPharma (VPHM) an identical lift.

Boston Scientific (BSX): Shares are hoisted to Outperform from Neutral at Credit Suisse, which is encouraged by its increased top-line visibility and expectations for improving ICD (Implantable Cardioverter Defibrillator) market growth. The target is also taken up, by $1.50 to $7.50, and shares are up sharply in today's pre-market trading.

Credit Suisse (CS): The financial firm gets an Outperform-from-Neutral increase by BNP Paribas.

Green Mountain Coffee Roasters (GMCR): Argus juices the java giant to Buy from Hold amid optimism over its introduction of the Keurig Vue.

Infineon (PINK:IFNNY) BNP Paribas takes the tech name to Outperform from Market Perform.

Oceaneering International (OII): OII is increased to Overweight from Equal-Weight at Morgan Stanley.

Maxim Integrated Products (MXIM): Oppenheimer increases its recommendation to Outperform from Perform, establishing a $38 price target on an outfit it says offers investors exposure to smartphone and tablet growth.

Mellanox Technologies (MLNX): Shares are surging about 5% ahead of this morning's opening bell on a Buy-from-Neutral boost at UBS.

PetroLogistics (PDH): The stock is now Buy from Neutral at Citigroup.

RAIT Investment Trust (RAS): Shares are raised to Outperform from Market Perform at FBR Capital, which also increases its price objective by $2.50 to $8.00.

Symantec (NASDAQ:SYMH): Morgan Stanley moves the Internet security stock to Overweight from Equal-Weight.

TNT Express (PINK:TNTEY): The package delivery firm, downgraded elsewhere this morning, is moved to Overweight from Neutral at JPMorgan.

(See also: New Stock Coverage: Check In to Hyatt Hotels and Stock Downgrades: Lululemon Looks Like a Downward Dog.)
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