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Stock Upgrades: Quantum Jump for Leap Wireless


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

MINYANVILLE ORIGINAL In after-hours action H&R Block (HRB) reported revenue from tax services tumbled about 2%. Probably due to Charlie Rangel, who set tax policy as Ways and Means Committee Chairman yet curiously failed to file. (Chuck's good luck is in; last night the 21-term congressman emerged triumphant in another electoral primary.)

Today in economics, May pending home sales are out at 10:00 a.m. Eastern. On the corporate front General Mills (GIS), Herman Miller (MLHR), Lennar (LEN), and Monsanto (MON) are all expected to announce earnings.

Dreamworks Animation (DWA): DWA is upgraded to Hold from Sell at Stifel Nicolaus, which cites better than expected performance from Madagascar 3.

E.ON AG (EONGY): A second upgrade in as many days for the German utility giant, now Overweight from Neutral at HSBC Securities. Shares are higher as a result.

Heartland Payment Systems (HPY): HPY is hoisted to Outperform from Market Perform at Keefe Bruyette.

HomeAway (AWAY): AWAY is upgraded to Buy from Hold with a $26 target at Stifel Nicolaus.

Leap Wireless (LEAP): LEAP is lifted to Buy from Neutral at Guggenheim.

News Corp (NWSA): Shares are now Buy from Hold at Needham.

Riverbed Technology (RVBD): RVBD gets raised to Hold from Underperform at Jefferies.

Yandex N.V. (YNDX): Shares are upgraded to Buy from Neutral at UBS.

(See also: Stock Downgrades: Nordstrom Sleepless in Seattle and New Stock Coverage: Facebook Makes Enemies, Fair Weather Acquaintances, and Best Friends Forever.)
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