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BrasilTelecom posts

Analyst upgrades: IN, BRP, CVGI, MGI and WHQ

MOST NOTEWORTHY: Intermec, Brasil Telecom and W-H Energy Services were today's most noteworthy upgrades:

Intermec (NYSE: IN) was upgraded to Hold from Sell at Standford Financial Group. After Intermec's stock fell 10.5% since April 1, and 5.1% on Friday, Stanford believes most of the bad news is priced into the stock.
Brasil Telecom (NYSE: BRP) was upgraded to Buy from Hold at Deutsche Bank and raised their target to $90 from $87 as they believe the recent weakness presents a good buying opportunity.
W-H Energy Services (NYSE: WHQ) was upgraded to Buy from Hold at Deutsche Bank following the Q1 miss as they believe the company is well positioned to benefit from a pickup in U.S. onshore activity and a significant acceleration in international and deep water work.

OTHER UPGRADES:

Commercial Vehicle Group (NASDAQ: CVGI) was upgraded to Overweight from Neutral at J.P. Morgan.
MoneyGram (NYSE: MGI) was upgraded to Buy from Add at Calyon Securities based on valuation.

MAJOR PAPERS:

The IRS is looking at derivatives trades of Citigroup Inc (NYSE: C) and Lehman Brothers Holdings (NYSE: LEH) to see if trades made on behalf of hedge funds and other clients, including those offshore, were to avoid paying taxes on U.S. stock dividends, reported the Wall Street Journal (subscription required).
The Financial Times (subscription required) reported that Telecom Italia (NYSE: TI) is expected to sell its stake in Brasil Telecom (NYSE: BTM).

OTHER PAPERS:

The New York Times reported that Ford Motor Company (NYSE: F) is expected to receive opening bids today for its Jaguar and Land Rover units. A variety of companies, including private equity firms and possibly other automakers, are expected to bid for the two divisions, said people with direct knowledge of the situation.
Retail shoe store chain Foot Locker Inc (NYSE: FL) is reportedly considering putting itself up for sale again, after disappointing sales by its U.S. shoe stores and its failed attempt to acquire rival Genesco Inc (NYSE: GCO), reported the New York Post.
The Telegraph reported that Wal-Mart Stores Inc (NYSE: WMT) is examining a deal to invest in Beijing Hualian, one of China's biggest retail groups.

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