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Stock Upgrades: JPMorgan Scores Whale of an Upgrade


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

MINYANVILLE ORIGINAL While Europe waves the white flag - red in Spain's less-than-bullish case - theme park operator Six Flags (SIX) surged 1.66% to an all-time peak. It now stands at dizzying heights, though that Internet sensation left newly nauseous on a roller coaster ride was not amused.

Elsewhere Build-A-Bear Workshop (BBW) bucked a dire day by jumping 4.61%; Swedish police can rest easy and return to less important stuff, like fighting terror. Microsoft (MSFT), whose founder famously took a pie in the eye, tumbled 2.72% after spending $1.2 billion to buy Yammer, whose CEO prefers to let them eat cake.

Today at 10:00 a.m. consensus calls for a slight slippage in June consumer confidence. On the earnings front, AeroVironment (AVAV), H&R Block (HRB), LDK Solar (LDK), Robbins & Myers (RBN), Sealy (ZZ), and TigerLogic (TIGR) are all due to release results.

JPMorgan (JPM): The Dow member, its "London whale" issues apparently behind it, is this morning added to the Conviction Buy List at Goldman Sachs. Shares are higher this morning as a result.

AutoZone (AZO): AZO gets upgraded to Buy from Hold at Deutsche Bank.

Celgene (CELG): Shares are now Outperform from Neutral at Cowen & Company.

Country Style Cooking Restaurant Chain (CCSC): Citing improving operating results and valuation, Maxim moves the stock to Hold from Sell.

E.ON AG (EONGY): The German utility giant is up in Europe today after getting lifted by Bank of America-Merrill Lynch to Buy from Neutral.

Lender Processing (LPS): LPS is now Buy from Neutral at Goldman Sachs.

Pitney Bowes (PBI): Shares get upgraded to Neutral from Sell at Goldman.

Post Properties (PPS): PPS is boosted to Buy from Hold at Stifel Nicolaus.

Semiconductor Manufacturing (SMI): The micro-cap is moved to Neutral from Underweight at JPMorgan.

Shire plc (SHPGY): Shares are upgraded to Buy from Hold at Société Générale. (SOHU): The Beijing company is boosted to Buy from Hold at ThinkEquity.

Veeco Instruments (VECO): The tech stock is taken to Buy from Hold at Stifel Nicolaus, whose objective is $48.

(See also: Stock Downgrades: No Gifts for National Bank of Greece and New Stock Coverage: Google Still Searching for Answers.)
No positions in stocks mentioned.
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