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Stock Upgrades: AK Steel Looks Like a Bargain


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

MINYANVILLE ORIGINAL Outback Steakhouse owner Bloomin' Brands (BLMN), based in Tampa, jumped 3.05% to a post-IPO peak. (Must be all those expensive tips left by fat-cat GOP conventioneers last week.) Wisconsin's Paul Ryan, he of 7% body fat, likely prefers the Foreman Grill and as such will take pride in Madison's own Spectrum Brands (SPB), which produces the product, gaining 1.10% to an historic high.

President Obama will not now talk tonight at Bank of America (BAC) Stadium before 65,000, or almost exactly the paltry number of jobs America added under his watch in June. The humbler 20,000 capacity Time Warner (TWX) Cable Arena will instead host the event, and after that stock advanced 2.18% on an analyst upgrade, he may be on the money.

Today in economics, the Institute for Supply Management's August non-manufacturing index is out at 10:00 a.m. Eastern. In earnings action, Aceto Corp. (ACET), Bazaarvoice (BV), Cherokee Inc. (CHKE), Descartes Systems (DSGX), Hooker Furniture (HOFT), Mattress Firm Holding (MFRM), Navistar International (NAV), Quiksilver (ZQK), Smith & Wesson (SWHC), and Ulta Beauty (ULTA) are all due to report results.

Activision Blizzard (ATVI): Shares are upgraded to Overweight from Neutral at Piper Jaffray amid optimism over its fall line-up. The target is also taken up by $1 to $14.

AK Steel (AKS): AKS is boosted to Buy from Neutral at Longbow, which highlights the recent fall in iron ore and met coal prices.

OGE Energy (OGE): OGE gets upgraded to Outperform from Market Perform by BMO Capital.

Randgold Resources (GOLD): GOLD gets upgraded to Overweight from Neutral at JPMorgan.

Stanley Black & Decker (SWK): Shares are moved to Overweight from Equal-Weight at Morgan Stanley.

SunTrust Banks (STI): JP Morgan takes STI to Overweight from Neutral.

Wright Express (WXS): The stock is now Buy from Neutral at Janney Capital.

Yara International (YARIY): The Norwegian fertilizer firm is now Overweight from Neutral at HSBC Securities as they see volume and price growth in the coming year.

(See also: New Stock Coverage: Cash America Not Quite a Pawn Star and Stock Downgrades: Cliffs Natural Resources Can't Move Mountains.)
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No positions in stocks mentioned.
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