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Stock Upgrades: Wendy's About to Beef Up

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

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MINYANVILLE ORIGINAL JC Penney (JCP), whose recent charitable giving campaign appears to be extending to its stock, tumbled 5.76% to a fresh low. Letting the chips fall where they may proved lethal for semiconductor giant Advanced Micro Devices (AMD), which imploded 11.21%. It might want to go Dutch with industry peer ASML Holding (ASML), currently the pride of Holland after jumping 8.28%.

Today at 2:00 p.m. Eastern we get the minutes to the Federal Reserve's most recent policy meeting. In earnings action, Adtran Inc. (ADTN), DragonWave (DRWI), Material Sciences (MASC), and Northern Technologies (NTIC) are all due to release results.

Allegiant Travel (ALGT): ALGT is upgraded to Buy from Hold at Deutsche Bank, which takes its target up by a hefty $30 to $90 from $60 amid optimism for continued margin expansion.

AMC Networks (AMCX): The Mad Men broadcaster is boosted to Positive from Neutral at Susquehanna.

SAP AG (SAP): The German software giant gets upgraded to Buy from Hold at ThinkEquity, sending shares up before the bell.

SkyWest (SKYW): Shares are raised to Outperform from Perform at Raymond James.

Wendy's (WEN): The fast-food firm is upgraded to Outperform from Neutral at Wedbush.

(See also: Stock Downgrades: Agony for Alcoa and New Stock Coverage: Apple Still on Money Tree.)
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.

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