Stock Upgrades: Stick to Henkel Like Glue


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A person born in 1929 pocketed $590 million yesterday but, for the rest of us, Wall Street is suddenly carrying ominous echoes of that fateful October 84 years ago. The Dow (^DJI) suffered its worst two-session slide since last autumn amid iffy economic reports. This included a downward revision to first quarter worker productivity, which any net prophet could have predicted .

Still, on the morning of 6/6 we should remember just how far the S&P 500 (^GSPC) has come from its low of 666 . Alas for Abe the devil was indeed in the details, or rather absence of them . A lack of specifics in his speech sent the Nikkei (INDEXNIKKEI:NI225) nosediving another 3.8% to an eight-week trough.

Elsewhere Apple ( AAPL ), whose first machines priced at $666.66 will now set you back considerably more , dropped after enduring a hellish patent ruling.

Today's quarterly earnings announcements include Ann Inc. ( ANN ), Ciena ( CIEN ), Cooper Companies ( COO ), Dominion Diamond ( DDC ), Fairway Group (FWM), (DATE), J.M. Smucker (SJM), Quiksilver (ZQK), and Vail Resorts (MTN).

Clovis Oncology (CLVS): Shares are now Overweight from Neutral at Piper Jaffray.

Con-way (CNW): Bank of America-Merrill Lynch takes the trucking titan to Buy from Neutral.

Cyberonics (CYBX): Shares, up 5.24% in yesterday's weak market, are moved to Market Perform from Underperform at Northland Securities, which takes its target price up to $44 from $40. The medical appliance firm is expected to end fiscal 2013 in a strong position.

Danone (OTCMKTS:DANOY) The French food firm, whose other brands include Activia and Evian, gets upgraded to Outperform from Neutral by BNP Paribas.

Henkel (OTCMKTS:HENKY): The German giant, a world leader in adhesives, is increased to Neutral from Underperform by BNP Paribas.

Lifepoint Hospitals (LPNT): LPNT is lifted to Outperform from Neutral by Credit Suisse.

Momenta Pharmaceuticals (MNTA): Citing its heightened optimism regarding generic Copaxone approval, UBS increases its investment opinion to Buy from Neutral.

Royal Philips (PHG): Shares in the Dutch electronics giant are currently up almost 3% in today's European trading on the back of an Overweight-from-Equal Weight boost by Barclays.

Sibanye Gold (SBGL): Goldman Sachs gives the commodity company a boost to Neutral from Sell.

Tenet Healthcare (THC): Deutsche Bank takes THC to Buy from Hold.

W.R. Berkley (WRB): The insurance outfit is lifted to Buy from Neutral at Bank of America-Merrill Lynch.

(See also: New Stock Coverage: Whole Foods Looks Tasty and Stock Downgrades: Throwing the Book at Barnes & Noble .)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks
More Headlines for: AAPL , ANN , CIEN , COO , DDC

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