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Stock Upgrades: E*TRADE Babies Enjoy Mother of All Rallies

By: Minyanville
Posted: 9/10/2013 9:26:00 AM
Referenced Stocks: AAPL;EL;ETFC;MOLX;PG

Trust the Koch brothers to gatecrash a week that was meant to be all about Lehman Brothers and the Manning Brothers . The siblings' $7.2 billion acquisition of Molex ( MOLX ) sent that stock up 31.66%‎ to top the S&P 500 Index (INDEXSP:.INX) and set the tone for another ebullient session in equities. Brothers in Arms may mercifully not now be needed in Syria, so babes in arms were once more the way to go. This as E*TRADE ( ETFC ) continued its recent advance to hit a fresh 52-week peak. (It's about time someone Pampered their celebrity toddler spokespeople, for Procter & Gamble ( PG ) is certainly short changing them .) Elsewhere General Motors (GM), fresh from last week's 6.1% surge, gained another 0.91%. The car company's halo effect apparently now even extends to its iconic building in Gotham, where the first get-a-life guys Apple Inc. ( AAPL ) iPhone fanboys began lining up long ago . And Estèe Lauder ( EL ), which also calls 767 Fifth Avenue home, jumped 2.83% on a broker boost .

No top-tier economic data due today, but Restoration Hardware (RH) and Texas Instruments (TXN) are each expected to announce earnings.

BioMed Realty (BMR): Morgan Stanley moves the stock to Overweight from Equal-Weight.

E*TRADE Financial ( ETFC ): The tiny tots of E*TRADE will be well cared for in old age at this rate. Shares, on a tear since an upgrade at Goldman Sachs late last week , are now Outperform from Neutral at Macquarie.

Five Below (FIVE): The stock, surging some 12% before the bell, is now Neutral from Sell at MKM Partners.

Fusion-io (FIO): Piper Jaffray juices the data stora ge stock to Overweight from Neutral.

Jabil Circuit (JBL): Shares are now Strong Buy from Buy at Needham.

Marvell Technology (MRVL): JPMorgan moves the stock, a 4.23% gainer on Monday, to Overweight from Neutral. Its price objective, previously $14, increases to $16.

Masco (MAS): The homebuilder is hoisted to Outperform from Perform at Oppenheimer, whose new target price is $25. The broker's channel checks suggest continued strength.

Mylan Labs (MYL): Sanford Bernstein gives the generic drugmaker an Outperform-from-Market Perform upgrade.

National Oilwell Varco (NOV): Credit Suisse increases the oil and gas name to Outperform from Neutral.

Pernod-Ricard (OTCMKTS:PDRDY): Shares are upgraded to Overweight from Neutral at HSBC Securities.

SABMiller plc (OTCMKTS:SBMRY): The brewing behemoth, whose other brands include Grolsch and Pilsner Urquell, is boosted to Overweight from Neutral at HSBC Securities.

TIBCO Software (TIBX): Janney takes TIBX to Buy from Neutral.

Zoetis (ZTS): Shares are showing strength this morning after being to the US 1 List of favored equities at Bank of America-Merrill Lynch.

(See also: New Stock Coverage: Bank of Ireland Cries Into Its Guinness and Stock Downgrades: D.R. Horton Hears a Boo .)

Disclosure: Minyanville has a business relationship with E*TRADE.