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Stock Upgrades: BMW on Road to Riches


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

MINYANVILLE ORIGINAL It was a dire day for Jamie Dimon, with JPMorgan (JPM) dropping 2.45%, and an even worse one for Bob Dimond, with Barclays (BCS) tumbling 12.08%. Neither should turn to Diamond Foods (DMND) for comfort, not after it dropped 1.89% to a fresh 52-week low.

News Corp. (NWSA), which had advanced 11% over the previous 48 hours, declined 1.43% following the formal announcement that it is to split. This as Russell Crowe denied he will play Rupert Murdoch in a new movie. The New Zealander who throws phones, and the Australian who hacks them -- surely a match made in Hollywood? New Zealand is actually the only major market on the planet down today but no need for Roman Gladiator Russ to erupt in anger again, as Maximus (MMS) surged 9.33% to a fresh peak.

This morning in economics, June's Chicago Purchasing Managers Index is due at 9:45 a.m. Eastern, with the University of Michigan's final figure for this month's consumer confidence arriving at 9:55 a.m. In earnings action, quarterly results are expected from Constellation Brands (STZ), Finish Line (FINL), and KB Home (KBH).

Bayerische Motoren Werke (BAMXY): The car company better known as BMW can certainly afford a few $10 words today, with its shares up sharply in Europe this morning on a Buy-from-Neutral boost at UBS.

Bed Bath & Beyond (BBBY): The stock is hoisted to Buy from Hold at BB&T Capital.

Celgene (CELG): Shares are boosted to Buy from Hold with a $75 target price at Argus, which views the recent share-price pullback as overdone.

Crown Holdings (CCK): CCK is upgraded to Overweight from Equal Weight at Barclays.

Deutsche Börse (DBOEY): JPMorgan moves the German exchange operator to Overweight from Neutral.

Deutsche Post (DPSGY): Continuing the Teutonic theme, Citigroup takes the stock to Buy from Neutral.

Enbridge Energy (EEP): Oppenheimer upgrades EEP to Outperform from Perform, citing an attractive growth outlook driven by Bakken oil expansion.

Greif (GEF): GEF gets upgraded to Outperform from Market Perform with Wells Fargo.

Lincare (LNCR): Shares are surging before the bell on a lift to Buy from Hold at Jefferies.

Oracle (ORCL): ORCL is upgraded to Outperform from Sector Perform at RBC Capital.

Saks Inc. (SKS): JPMorgan raises the luxury retailer to Overweight from Neutral.

Vail Resorts (MTN): Bank of America-Merrill Lynch moves MTN to Buy from Neutral.

Vivendi (VIVEF): The stock is now Buy from Neutral at Nomura and Overweight from Equal Weight with JPMorgan.

(See also: New Stock Coverage: Hillshire Has Mountain to Climb and Stock Downgrades: Nike Just Not Doing It.)
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