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Stock Upgrades: High Fives for ARM Holdings


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

MINYANVILLE ORIGINAL Underwear maker Warnaco Group (WRC), upgraded earlier in the week, rose a further 3.31% yesterday. A performance fit for a king, if QE2 will forgive the phrase. Bling king Tiffany (TIF) slid 6.81% after announcing iffy earnings, Harry Winston Diamond (HWD) falling 3.71% in its wake. Not to worry, scared shareholders; this too shall pass, even if it takes nine days and necessitates several laxatives, an extraordinarily messy business that sent restroom operator Swisher Hygiene (SWSH) skyrocketing 21.39%. It's a quiet Friday for quarterly earnings announcements and the bond market is set to close early at 2:00 p.m. EDT ahead of the holiday weekend. In economic data, analysts expect the University of Michigan's final figure for May consumer confidence to slip slightly at 9:55 a.m.

Aggreko PLC (ARGKF.PK): The British-based provider of temporary power generators is trading higher in London today after an Overweight-from-Neutral hoist at HSBC Securities.

Aviva (AV): An unusual 180-degree Outperform-from-Underperform upgrade by BNP Paribas is sending the London-headquartered insurance outfit sharply higher this morning. Analysts wrote in a note that AV has "significantly underperformed the insurance sector over the last three months and market expectations are limited."

ARM Holdings (ARMH): The tech firm, whose chips power Apple's (AAPL) iPad and iPhone, is increased to Buy from Neutral at UBS.

Carter's Inc (CRI): Citing expectations for top-line growth in excess of 10% over the next several years, Citi boosts the maker of children's clothes including OshKosh, to Buy from Neutral. Its price objective is also taken up by $8 to $62.

Companhia Brasileira de Distribuição (CBD): The São Paulo grocery giant gets upgraded to Neutral from Underweight at JPMorgan, which sees heightened value following the recent share price sell-off. Its objective is $45.

Cracker Barrel (CBRL): The stock is boosted to Buy from Hold at Argus.

Dorman Products (DORM): Shares are upgraded to Buy from Hold at BB&T Capital.

Eastman Chemical (EMN): The company is moved to Overweight from Neutral at JPMorgan.

E-House China (EJ): EJ gets upgraded to Hold from Sell at Maxim Group.

E.ON AG (EONGY.PK): The German utility is showing strength in European trading today after getting upgraded to Neutral from Underweight at HSBC Securities, which argues it has the lowest risk profile of all major energy conglomerates.

Gulfport Energy (GPOR): GPOR gets upgraded to Outperform from Sector Perform at RBC Capital.

Illinois Tool Works (ITW): Shares are taken to Overweight from Neutral at JPMorgan.

Rogers Communications (RCI): TD Securities raises RCI to Buy from Hold. (CRM): Shares are upgraded to Outperform from Perform at Oppenheimer, whose price objective is $180.

Siemens AG (SI): The German company is higher before the bell after being boosted to Buy from Hold at Deutsche Bank.

Uroplasty (UPI): JPMorgan moves the small cap stock to Outperform from Market Perform.

(See Stock Downgrades: Ketchup King Heinz Doesn't Pass Muster and New Stock Coverage: Hain Celestial Shoots for the Stars.)
No positions in stocks mentioned.
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