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Stock Upgrades: Green Ink for Blackstone


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

MINYANVILLE ORIGINAL On Tuesday investors fired up the barbecue with James River Coal (JRCC), which jumped 9.79%, while pride-of-Peoria Caterpillar (CAT) was an appropriate pre-July 4th heartland hero, its 3.32% advance besting all blue chips (^DJI). Nathan's Famous (NATH) begins trading today at an all-time high; the winner of its hot dog eating contest should use his stock options to purchase Pepto-Bismol after digesting 68 in 10 minutes. The victor goes by the name of "Black Widow", yet there was no need to mourn LiveDeal (LIVE) - whose 30.78% increase topped the Nasdaq (^IXIC) - nor Liveperson (LPSN), which added 2.06% to an historic peak.

Today in economics, the Institute for Supply Management's June services index is seen slipping slightly at 10:00 a.m. Eastern. In earnings action, International Speedway (ISCA) is the standout of a slow session for quarterly announcements.

Blackstone (BX): The money manager gets an Outperform-from-Market Perform boost by BMO Capital.

China Unicom Hong Kong (CHU): The firm is now Neutral from Underweight at HSBC Securities, which cites an increasingly attractive valuation after the recent share price pullback.

City National (CYN): Shares are upgraded to Buy from Hold at Suntrust.

Turkcell (TKC): JPMorgan takes TKC to Overweight from Neutral.

Yandex N.V. (YNDX): Bank of America-Merrill Lynch lifts to the European Internet information provider to Buy from Neutral, sending shares higher before the opening bell.

(See also: Stock Downgrades: Advanced Micro in Retreat and New Stock Coverage: Riches Rain Down on Seattle Genetics.)
No positions in stocks mentioned.
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