UBS upgraded airliners including AMR Corp. (NYSE: AMR) from Sell to Neutral, Continental Air (NYSE: CAL), Delta Airlines (NYSE: DAL), UAL Corp. (NASDAQ: UAUA) and US Airways (NYSE: LCC) from Neutral to Buy. Delta was also upgraded by Bear Stearns from Peer Perform to Outperform. Most of these are gaining 3-5% in premarket trading.Other notable calls include:
- LDK Solar (NYSE: LDK) was upgraded from Sector Underperform to Sector Perform at CIBC World Marktes. Shares are up 5% in premarket trading.
- Garmin (NASDAQ: GRMN) was downgraded by Deutsche Securities from Buy to Hold and the target price lowered from $125 to $90. Down 3% in premarket.
After declining over 28% Tuesday, Countrywide Financial Corp. (NYSE: CFC) said home loans in December were a better-than-forecast $24 billion. CFC shares were climbing nicely in premarket trading earlier despite foreclosures rising 1.4% from 0.7% a year earlier and late payments of at least 60 days advancing to 7.2% of unpaid balances from 4.6%. CFC shares have changed direction and look to be in the red again.
Ford's (NYSE: F) said Wednesday vehicle sales in China rose 30% last year.
Microsoft (NASDAQ: MSFT) will not launch a product that competes directly with Apple's iPhone, Chairman Bill Gates said in an interview with Germany's Frankfurter Allgemeine Zeitung.
Closing Bell: Dubai sends jitters throughout the market (S, BBY)
Heinz looking good after the second quarter?
Why isn't Bank of America updating its shareholders on CEO situation?
