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Stock Upgrades: Wendy's About to Beef Up


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

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.)
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No positions in stocks mentioned.
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