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.

Upgrades & Downgrades: Amazon Set for Gigantic Gains


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

On Poem In Your Pocket Day investors were able to line theirs with something much more useful: money. (And those of a lyrical bent shouldn't feel left out, for there was plenty of pain in Spain after the close, when the country's credit rating was cut.) A robust report on March pending home sales outweighed both iffy earnings and disappointing data on unemployment claims to send the Dow (^DJI) and S&P 500 (^GSPC) up for a third straight session. Rhymers had to share Thursday with the Take Our Kids to Work crowd, and a 5.20% increase in shares of (ACOM) suggests keeping it in the family is a fine thing. Check printer Deluxe Corp (DLX), whose offerings include a Flip-Flops pack particularly popular among politicians, gained 4.98%, though a little late for Newt, alas. Abercrombie & Fitch (ANF), which targets the adolescent demographic, advanced 3.19% in a fitting tribute to America's oldest teenager and Mr. Coffee owner Jarden Corp (JAH) jumped 5.00%; somewhere up there the similarly recently departed Samuel Glazer is smiling. Mattress maker Tempur Pedic (TPX) tumbled 3.27% despite upbeat analyst comments yet Regeneron Pharmaceuticals (REGN), based in the Sleepy Hollow heartland of Tarrytown, surged 9.04%.

Elsewhere Emerald City's own (AMZN), surging some 16.46% before the bell, will be anything but sleepless in Seattle today. Rip Van Winkle, last awake around 1994 to hear Katie Couric ask "What's an Internet?" arose from an 18-year slumber to learn Katie Couric is launching a…weekly Web show. (Netgear (NTGR), which makes modems and routers, gained 13.57%, so this information superhighway thing may be here to stay.) And Cirrus Logic (CRUS) increased 18.62% to hit its highest price since July 2001. Back then, at the end of our 12-year holiday from history after the fall of the Berlin Wall, we appeared to be worried only about shark attacks, distracted by trivia when true terror lay just two months away. Once bitten, twice shy - America is now in no mood to let the past repeat. Today in economics, analysts expect an essentially unchanged figure for the final reading on April consumer confidence from the University of Michigan at 9:55 a.m. Eastern. Highlights of another hectic day for quarterly earnings announcements include Chevron (CVX), Daimler (DDAIY), Honda (HMC), Merck (MRK), and Procter & Gamble (PG).


Adidas AG (ADDYY): The German athletic apparel giant is initiated with a Buy at UBS.

American Software (AMSWA): Shares are begun with Buy at ThinkEquity.

Casino companies: Las Vegas Sands (LVS) is initiated with in-line at Imperial Capital, whose price objective is $62. Wynn Resorts (WYNN) is a more bullish Outperform, and assigned a $151 target, as the broker expects the stock to trade up over the next few months to around an 11x multiple.

Oil refiners: Dahlman Rose begins Buys on, among others, Marathon Petroleum (MPC), Tesoro (TSO), and Valero Energy (VLO).

Pantry (PTRY): Shares are picked up with a Market Perform at Raymond James.

Pike Electric (PIKE): PIKE is a new Buy at Wunderlich, whose target is $10.

TravelCenters of America (TA): Raymond James resumes Outperform rated research.

Upgrades: (AMZN): The firm, fresh from reporting a 35% increase in sales, is upgraded to Buy from Neutral at Goldman Sachs, to Buy from Neutral at Bank of America-Merrill Lynch, and to Buy from Neutral at Nomura.

Agnico-Eagle Mines (AEM): Shares are now Outperform from Neutral at Credit Suisse.

Expedia (EXPE): Shares are upgraded to Neutral from Underweight at JPMorgan.

Grupo Televisa (TV): TV is taken to Buy from Neutral at Bank of America-Merrill Lynch.

Inergy (NRGY): NRGY is now Neutral from Underperform at Robert W. Baird, which takes its target up to $21 from $15.

Jetblue Airways (JBLU): Shares are upgraded to Hold from Sell at Dahlman Rose as they believe there is limited downside risk from current levels.

Logitech (LOGI): LOGI is lifted to Outperform from Neutral at Exane BNP Paribas, sending shares up ahead of the open.

Oceaneering International (OII): OII is upgraded to Outperform from Market Perform at BMO Capital.

SanDisk (SNDK): Shares are boosted to Buy from Hold at Jefferies.

Silicon Labs (SLAB): SLAB is lifted to Buy from Neutral at Lazard.

TASER (TASR): TASR gets taken to Buy from Hold at Craig Hallum.

Unilever (UN): The maker of Axe Lipton, and Slim-Fast is upgraded to Hold from Reduce at ABN Amro.

Whiting Petroleum (WLL): WLL is upgraded to Buy from Neutral at Suntrust.

Zimmer (ZMH): Shares are upgraded to Outperform from Market Perform at BMO Capital.

Zynga (ZNGA): The stock is now Overweight from Neutral at JP Morgan.


Applied Micro Circuits (AMCC): AMCC is downgraded to Hold from Buy at Wunderlich after what should be a weaker period for their core business.

Allscripts-Misys Healthcare (MDRX): MDRX is moved to Hold from Buy at Jefferies.

BostonPrivate Financial (BPFH): Shares are downgraded to Market Perform from Outperform at BMO Capital.

CONSOL Energy (CNX): The coal company is cut to Fair Value from Buy at CRT Capital.

Constant Contact (CTCT): The stock is moved to Market Perform from Outperform at William Blair.

Deckers Outdoor (DECK): DECK is downgraded to Hold from Buy at Jefferies.

InterMune (ITMN): ITMN is downgraded to Market Perform from Outperform at JMP Securities.

KLA-Tencor (KLAC): Crédit Agricole cuts KLAC to Outperform from Buy.

Kodiak Oil & Gas (KOG): KOG is downgraded to Neutral from Outperform at Macquarie.

Maxwell Technologies (MXWL): Canaccord Genuity gives a Hold-from-Buy downgrade to MXWL.

MetroPCS (PCS): Shares are downgraded to Market Perform from Outperform at Wells Fargo.

Patterson-UTI Energy (PTEN): The firm is downgraded to Underperform from Market Perform at BMO Capital.

Potash (POT): POT is now Neutral from Positive at Susquehanna.

Qiagen (QGEN): Leerink Swann lowers the stock to Market Perform from Outperform.

Regeneron Pharmaceuticals (REGN): BMO Capital reduces its REGN rating to Market Perform from Outperform after yesterday's stock surge.

Seagate Technology (STX): Shares are now Neutral from Buy at Bank of America-Merrill Lynch.

Susquehanna Bank (SUSQ): Shares are downgraded to Sector Perform from Outperform at RBC Capital.

United Therapeutics (UTHR): UTHR is downgraded to Hold from Buy at Canaccord Genuity.
< Previous
  • 1
Next >
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.
Featured Videos