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MOST NOTEWORTHY: Kelly Services, Iron Mountain, Covenant Transportation and the biotech sector were today's noteworthy upgrades: - Merrill Lynch upgraded Kelly Services Inc (NASDAQ: KELYA) to Neutral from Sell and Iron Mountain Incorporated (NYSE: IRM) to Buy from Neutral after they adjusted estimates in the group to reflect risks of a recession in the U.S.
- AG Edwards upgraded shares of Covenant Transportation Group (NASDAQ: CVTI) to Buy from Hold as they believe the stock is oversold after the company was able to renegotiate its debt covenants without significant cost increases.
- Bernstein upgraded the biotech sector citing valuation and typical seasonality for the group. The firm reiterated shares of Amgen Inc (NASDAQ: AMGN), Genentech Inc (NYSE: DNA), Gilead Sciences Inc (NASDAQ: GILD), Celgene Corporation (NASDAQ: CELG) and Vertex Pharmaceuticals (NASDAQ: VRTX) with Outperform ratings...
- Netflix Inc (NASDAQ: NFLX) was upgraded to Hold from Sell at Wedbush. The firm also upgraded shares of Kenexa Corporation (NASDAQ: KNXA) to Buy from Hold.
- Deutsche Bank upgraded shares of United Microelectronics (NYSE: UMC) to Buy from Hold.
- UBS upgraded shares of Royal Dutch Shell (NYSE: RDS.A) to Buy from Neutral on valuation.
- Lehman Brothers upped regulated utilities to Neutral from Negative, and Public Service Enterprise Group (NYSE: PEG) and Wisconsin Energy Corporation (NYSE: WEC) to Overweight from Equal Weight.
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