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Stock Upgrades: Jive Software Set to Jump


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

MINYANVILLE ORIGINAL Cisco Systems (CSCO) gained 3.15% to top the Dow (^DJI) after Goldman Sachs (GS) added the stock to its list of "Conviction Buys." Speaking of convicts, no one at Goldman will now go to prison for its dealings described as "sh**ty" by a standing US senator. The bank will, however, be heartened by a 4.62% advance that took prison operator Corrections Corp. of America (CXW) to a fresh 52-week peak, especially since it recently plunked down $9.6 million in the sector.

Language-learning software stock Rosetta Stone (RST) slumped 16.22%. That elicited no comment from our globetrotting Secretary of State, last seen dancing at a dinner hosted by South African Foreign Minister Maite Nkoana-Mashabane, but any members of her staff who own the equity will likely want to press the "reset" button.

A distinctly quiet week in economic data concludes with the Treasury's budget for July, out at 2:00 p.m. Eastern. On the corporate front, Bank of Ireland (IRE), Enerplus (ERF), Harman International (HAR), J.C. Penney (JCP), Merrimack Pharmaceuticals (MACK), ThyssenKrupp (TYEKF), and U.S. Energy (USEG) are all due to announce earnings.

AG Mortgage Investment Trust (MITT): Shares are moved to Buy from Neutral at Sterne Agee amid expectations for a dividend. The price target is $24.50.

AllianceBernstein (AB): AB is upgraded to Buy from Neutral at Citigroup.

Broadcom (BRCM): Sanford Bernstein boosts BRCM to Outperform from Market Perform.

Jive Software (JIVE): The stock is higher ahead of the open on a boost to Buy from Hold, with a $20 target, at Needham.

National Financial Partners (NFP): NFP is now Buy from Neutral at Citigroup.

Sanofi (SNY): Shares are upgraded to Outperform from Neutral at Cowen.

Semiconductor Manufacturing (SMI): The microcap is upgraded to Overweight from Neutral at HSBC Securities.

Siliconware Precision (SPIL): Shares are upgraded to Outperform from Market Perform by Sanford Bernstein.

Tim Hortons (THI): THI gets taken to Outperform from Market Perform at BMO Capital.

(See also Stock Downgrades: GlaxoSmithKline Can't Keep Up With The Joneses and New Stock Coverage: Time to Curb Your Enthusiasm on Cisco?)
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No positions in stocks mentioned.
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