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Stock Upgrades: Callaway Golf (NYSE:ELY) Is in the Green


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

MINYANVILLE ORIGINAL Bank of America (BAC) was the best Dow (^DJI) stock in September, up 10.5%, although a precipitous 3%-plus plunge last week suggests it may be a sheep in wolf's clothing.

Apple (AAPL) fell 4.7% for its worst weekly drop since May. The Cupertino company founded in America's bicentennial year somehow managed to lose Lady Liberty on its maps. Its CEO, feeling sorry for the Postal Service, promptly sent a letter of apology to customers. Apple's ex engineers made a coffee maker costing $11,111 and - showing symmetry is contagious - Green Mountain Coffee Roasters slumped 11.1%.

This morning in economics, analysts expect improvements in both August construction spending and September's Institute for Supply Management manufacturing index, each out at 10:00 a.m. Eastern. Today's earnings announcements include Cal-Maine Foods (CALM), Synergetics (SURG), Robbins & Myers (RBN), and Team Inc (TISI).

Allscripts-Misys Healthcare (MDRX): The stock is upgraded to Buy at ISI Group, whose target is $14.50.

Callaway Golf (NYSE:ELY) Shares are upgraded to Strong Buy from Market Perform at Raymond James, which cites new management and a revamped product line. The price objective is $8.

C.H. Robinson (CHRW): Shares are now Buy from Neutral at Sterne Agee.

Coldwater Creek (CWTR): The stock is upgraded to Overweight from Neutral at Piper Jaffray, citing improved products and a loyal fan base.

DreamWorks (DWA): DWA is upgraded to Buy from Neutral at Janney Capital.

Duke Energy (DUK): Shares are upgraded to Buy from Hold at Argus, whose target is $72.

Finish Line (FINL): FINL is now Neutral from Underperform at Sterne Agee.

Gilead Sciences (GILD): GILD gets upgraded to Outperform from Market Perform by Sanford Bernstein.

InterActiveCorp (IACI): The owner gets moved to Buy from Hold at Needham.

Myriad Genetics (MYGN): Shares are upgraded to Overweight from Neutral at Piper Jaffray.

Rudolph Technologies (RTEC): The stock is raised to Outperform from Neutral at Credit Suisse.

(See also: Stock Downgrades: Here's the Beef With Wendy's (NASDAQ:WEN) and New Stock Coverage: Pros Say Buy Conns (NASDAQ:CONN).)
No positions in stocks mentioned.
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