Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Stock Upgrades: Telecommuting Ban a Home Run for Yahoo?

By

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

PrintPRINT
In a week dominated by both Helicopter Ben and Helicopter Benedict, S&P 500 (^GSPC) shares hovered around the flat-line before ultimately ending airborne by 0.17%. The pope emeritus rides off into the sunset with a monthly pension of €2,500 and Andrew Mason gets a $378.36 retirement package after exiting Groupon (GRPN). The beer-swilling ex-Internet CEO can at least console himself with Anheuser-Busch (BUD) having finished on Friday at the highest level in its illustrious history.

Marissa Mayer banned working from home at Yahoo (YHOO) in a week Home Depot (HD) surged 5.3% to top the Dow (^DJI) and KB Home (KBH) advanced 4.8%. Bonuses on Wall Street rose 9% but America's real financial epicenter remains far away from the concrete canyons of Gotham, with Omaha's own Berkshire-Hathaway (BRK.A) posting a 49% profit increase while North Dakota had the country's lowest unemployment rate for a fourth straight year.

And in the from-the-frying-pan-into-the-fire category, Ron Johnson left Apple (AAPL) - down 4.5% to its worst level since January 2012 - only to take over at JC Penney (JCP), which endured one of the worst weeks in its history after sliding more than 16%.

Today's corporate earnings announcements are due to include Arena Pharmaceuticals (ARNA), Ascena Retail Group (ASNA), Boyd Gaming (BYD), Casella Waste (CWST), HSBC Holdings (HBC), Transocean (RIG), and Veeco Instruments (VECO).

AMAG Pharmaceuticals (AMAG): JPMorgan raises its recommendation to Neutral from Underweight.

Aqua America (WTR): The stock is now Overweight from Neutral at HSBC Securities.

Charles Schwab (SCHW): Shares get upgraded to Outperform from Perform by Sanford Bernstein, which cites heightened trading activity and net interest margin expansion as among reasons for owning the discount broker. Its target price is $23.

Cloud Peak Energy (CLD): Goldman Sachs boosts the shares to Buy from Neutral.

Dean Foods (DF): The dairy producer is upgraded to Buy from Hold with a $21 target at KeyBanc.

Diamondrock Hospitality (DRH): A better 2014 bookings outlook in Boston is a reason behind RBC Capital's Sector Perform-from-Underperform upgrade of the stock, whose price objective also increases to $10 from $9.50.

France Telecom (FTE): Shares are moved up by an unusual 180 degrees, to Overweight from Underweight, at Morgan Stanley.

Lexmark (LXK): Barclays lifts the printer maker to Equal Weight from Underweight.

Merck (MRK): The drug stock, a key Dow (^DJI) component, is up before the opening bell on a Buy-from-Neutral lift at Bank of America-Merrill Lynch, which highlights its relatively hefty yield. The price target is $47.

Radian Group (RDN): RDN is raised to Outperform from Market Perform at Keefe Bruyette.

Redwood Trust (RWT): JMP Securities moves the stock to Outperform from Market Perform.

Spreadtrum Communications (SPRD): HSBC Securities hoists the stock to Overweight from Neutral. Its objective also increases, by $3 to $23.

Telefónica (TEF): The Spanish telecom titan gets taken to Overweight from Neutral at JPMorgan.

Vornado Realty Trust (VNO) ISI Group gives the Real Estate Investment Trust an upgrade to Neutral from Cautious.

Yahoo (NASDAQ:YHOO) The company, whose Marissa Mayer is implementing a contentious ban on working in your pajamas, is this morning increased to Overweight from Equal Weight at Barclays.

(See also: New Stock Coverage: Tiffany Still a Rough Diamond and Stock Downgrades: Bristol-Myers Isn't in the Best of Health.)
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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE