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Stock Upgrades: DuPont Regains Its Teflon Touch
October 24 does not have a happy history on Wall Street -
1929 and all that
- but, helped by a car company whose founder famously said "history
is bunk," stocks bounced back from Wednesday's wobble to end up.
) 1.37% post-earnings increase to a multi-year peak set the tone
for several upbeat quarterly reports. The
S&P 500 Index
(INDEXSP:.INX) is thus up in six of its past seven sessions, even
as nine lives expired elsewhere. Fat cats were thin on the ground
) tumbled 12.81% and strong
) followed Wednesday's 6.07% slide by incurring a
. Adding to the angst for our feline friends,
no fan of cute cuddly kittens
- gained 1.41% on a
. Elsewhere, Ma Bell met her match in
an irate Angela Merkel
) imploding 1.84% as telecoms were the sole sector to end in the
red. And, if Fenway will forgive the phrase,
dropped the ball
, sliding 6.10% after issuing iffy earnings guidance. Fear not,
Beantown, for pairing Ugg boots with Red Sox should still keep you
in the green;
(DECK) is surging some 13.77% this morning.
Today in economics, at 9:55 a.m. Eastern the University of Michigan's final figure for October consumer confidence is forecast to slip ever so slightly from its preliminary reading earlier in the month. On the corporate front, a frenetic first full week for quarterly earnings announcements finishes with Moody's (MCO), National-Oilwell Varco (NOV), Procter & Gamble (PG), Samsung Electronics (OTCMKTS:SSNLF), Sherwin-Williams (SHW), and United Parcel Service (UPS) all due to release results.
Advance Auto Parts (AAP): Shares get upgraded to Outperform at RBC Capital.
Amazon.com (AMZN): Shares, surging before the bell, are upgraded to Strong Buy from Perform at Raymond James.
Brinker International (EAT): The fast food firm is hoisted to Buy from Hold with Wunderlich.
Callaway Golf (ELY): ELY is now Buy from Neutral at DA Davidson
Career Education (CECO): Shares are moved to Outperform from Market Perform with Wells Fargo.
Colgate-Palmolive (CL): Canaccord Genuity gives the consumer products powerhouse a Hold-from-Sell boost.
Columbia Sportswear (COLM): The stock is now Neutral from Sell at Citigroup.
Constant Contact (CTCT): Shares are now Buy from Hold at Needham.
DuPont (DD): Citigroup gives the chemical company, a key Dow (INDEXDJX:.DJI) component, a Buy-from-Neutral boost, sending shares up ahead of the open.
Ford Motor ( F ): Shares, which hit a multi-year higher yesterday, are upgraded to Outperform from Underperform at CrÃ©dit Agricole.
Hasbro (HAS): The toy maker is taken to Perform from Underperform by BMO Capital.
ITT Educational (ESI): ESI is now Neutral from Sell with an increased price objective at Compass Point, which cites two successive quarters of improved expense control.
Monolithic Power (MPWR): Oppenheimer moves MPWR to Outperform from Perform.
Sony (SNE): Credit Suisse juices the Japanese consumer electronics giant to Outperform from Neutral.
(See also: New Stock Coverage: Disney Is the Mouse That Roared and Stock Downgrades: Cash Registers Stop Ringing at NCR Corp )