Stock Upgrades: Lam Research Corporation Has Bears on the Run
The bull exited China's shop in a big way, with Shanghai
officially entering a bear market to unleash pandemonium on
equities worldwide. Furrowed brows were the order of the day from
, and that was even before
) imploded 11.55% to lead the
On the bright side, Oracle ( ORCL ), whose private investigators used to quite literally regard Microsoft ( MSFT ) as trash , ended up after a strange-bedfellows cloud-computing agreement with its erstwhile rival.
Today in economics, May new home sales and June consumer confidence are each out at 10:00 a.m. Eastern. On the corporate front, Apollo Group ( APOL ), Barnes & Noble ( BKS ), Carnival Corporation (CCL), Lennar (LEN), Smith & Wesson (SWHC), and Walgreen (WAG) are all due to announce earnings.
ARM Holdings plc (ARMH): Shares are showing strength in London this morning after Investec gave the chip stock and Apple Inc. (AAPL) supplier a Buy-from-Hold boost.
Alamos Gold Inc (AGI): Citing an attractive valuation and upcoming Turkish assets, Cowen raises its rating to Outperform from Market Perform.
CME Group Inc (CME): The exchange operator is upgraded to Neutral from Buy at JPMorgan.
Hittite Microwave Corp (HITT): Goldman Sachs gives the stock a Neutral-from-Sell upgrade.
HSBC Holdings plc (HBC): Highlighting its "strong balance sheet [and] strong dividend yield buttressed by plans for buybacks in 2014 and beyond," Deutsche Bank hoists its fellow financial firm to Buy from Hold.
Kinder Morgan Energy Partners LP (KMP): Bank of America-Merrill Lynch lifts the limited partnership to Buy from Neutral.
Lam Research Corporation (LRCX): LRCX is lifted to Outperform from Underperform at CrÃ©dit Agricole. Its price objective, previously $50, increases to $55.
Las Vegas Sands Corp. (LVS): The casino company is now Buy from Hold at Craig Hallum, sending it up before the bell.
Royal Dutch Shell Plc (RDS-A): BNP Paribas boosts the oil giant to Neutral from Sell.
Vodafone Group Plc (VOD): The British telecom stock is now Buy from Neutral at Nomura, sending it up in today's European trading.
Waters Corporation (WAT): Goldman gives the firm a boost to Buy from Neutral.
(See also: New Stock Coverage: Nike, Inc. Just Keeps on Doing It and Stock Downgrades: Netflix, Inc. Now Swimming Upstream .)