Stock Upgrades: Xerox Corporation Looks to Replicate Its Heyday


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The S&P 500 Index (^GSPC) fell for a fifth day in six and Dow Industrials (^DJI) dropped to a four-week low, but the Nasdaq (^IXIC) rose amid speculation that an intensely secretive cult is all set to roll out its eagerly-awaited smartphone. (Whether it was North Korea or Apple Inc. ( AAPL ) remains moot.) The Cupertino company, subject of a movie opening on Friday , thus bucked a four-session skid to gain 2.84%.

Alas, there was no Hollywood ending for Elon Musk, who fancies himself as a latter-day Steve Jobs. His suddenly shunned Tesla Motors ( TSLA ) tumbled 3.67% as it unveiled an 800 mile-an-hour method of going from Tinsel Town to San Francisco in 30 minutes. And as the Fed's sugar rush dissipates, investors contented themselves with an analyst-inspired 5.23% surge in Krispy Kreme ( KKD ), the company that once cooked books along with doughnuts.

This morning in economics, June business inventories are expected to show improvement from the prior month's pace at 10:00 a.m. Eastern. On the quarterly earnings front, expect Brocade Communications ( BRCD ), Cree Inc. ( CREE ), Flower Foods (FLO), Intercept Pharmaceuticals (ICPT), JDS Uniphase (JDSU), and SeaWorld (SEAS) to release results.

Amarin (AMRN): Brokerage boutique H.C. Wainwright hoists the drug manufacturer to Buy from Neutral.

American Tower REIT (AMT): ISI Group gives the diversified real estate investment trust an upgrade to Buy from Neutral.

ConocoPhillips (COP): The oil giant gets increased to Strong Buy from Buy at ISI.

Constant Contact (CTCT): The stock is lifted to Buy from Neutral at Lazard.

Credicorp LTD (BAP): BAP is boosted to Overweight from Neutral at JPMorgan.

Hewlett-Packard (HPQ): This year's top Dow (^DJI) stock is today added to the Focus List of favored equities at Citigroup. Shares are trading higher this morning as a result.

Magyar Telekom (MYTAY): HSBC Securities moves the stock to Neutral from Underweight.

Marvell (MRVL): The technology stock gets upgraded to Top Pick from Outperform at RBC Capital Markets.

Rockwell Collins (COL): Shares are now Buy from Neutral at Sterne Agee.

Storage Stocks: UBS gives Neutral-from-Sell upgrades to Extra Space Storage (EXR), Public Storage (PSA), and Sovran Self Storage (SSS).

Teck Resources (TCK): Cowen takes TCK to Outperform from Market Perform, in the process increasing its price objective by $9 to $34. The broker believes rebounding coal fundamentals are near an inflection point.

Xerox Corporation (XRX): The photocopy king, a key component of the S&P 500's (^GSPC) "Nifty Fifty" from yesteryear, gets a Buy-from-Neutral boost at Citigroup.

(See also: Stock Downgrades: Analysts Can't Make Up Their Minds on Microsoft Corporation and New Stock Coverage: Time to Buy RetailMeNot Inc? )

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
Referenced Stocks: AAPL , BRCD , CREE , KKD , TSLA

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