Analyst Upgrades

• Alcatel-Lucent (ALU) to buy from neutral at Goldman.
• Nvidia (NVDA) to outperform from market perform at JMP Securities.
• Verizon (VZ), AT&T (T), Leap Wireless (LEAP) and MetroPCS (PCS) to outperform from neutral at RW Baird.
• Illumina (ILMN) to buy from hold at Auriga.
• Sun Bancorp (SNBC) to neutral from sell at Janney Capital.
• American Tower (AMT), SBA Communications (SBAC) and Freeport McMoRan (FCX) to overweight from equal weight at Morgan Stanley.

Freeport McMoRan (FCX) closed up 5.1% to $54.96. Copper prices were up 2.84%, according to Bloomberg, on expectations demand will outpace supply. April and May 55 calls are active. Overall option implied volatility of 42 is near its 26-week average of 43, according to Track Data. Active options volume suggests a probability for larger standard deviation movement.

iShares Silver Trust (SLV) closed up 2.6% to $36.46. as silver rallied 2.4% to $37.17 according to Bloomberg. April 37 and 40 calls are active, suggesting hedging for price movement.

Update is by Stock Specialist Paul Foster of theflyonthewall.com

Freeport McMoran Copper (FCX) is involved in mining, smelting and refining of coper, gold and molybdenum. The company runs its mining and smelting operations in North and South America, Indonesia and Africa. Freeport competes with other miners such as Southern Copper (SCCO), Codelco and Newmont Mining (NEM).

Freeport's extensive copper mining operations are its biggest source of value – more than 73% of our $63.42 base price estimate for Freeport's stock. Our price estimate currently stands about 25% ahead of market price. The company's mining and production of gold makes up for most of its remaining value. Here we try and explain how the outlook for gold prices in the years to come can affect Freeport's stock price.

Analyst Upgrades

• Heico (HEI) to outperform from market perform at FBR Capital.
• Eaton (ETN), Silgan Holdings (SLGN), MYR Group (MYRG) and Shaw Group (SHAW) to outperform from neutral at RW Baird.
• Infosys (INFY) to buy from Neutral at Nomura.
• Isle of Capri (ISLE) to buy from neutral at Merriman.
• NovaGold (NG) to sector perform from underperform at RBC Capital.
• CarMax (KMX) and Rockwell Collins (COL) to outperform from neutral at Credit Suisse.
• DHT Holdings (DHT) to overweight from neutral at JPMorgan.
• Cabot Oil & Gas (COG) to overweight from underweight at Morgan Stanley.

Analyst Upgrades

• Verisk (VRSK) was upgraded to outperform from market perform at Wells Fargo.
• Marriott (MAR) was upgraded to outperform from market perform at Bernstein.
• Jefferies upgraded Teekay (TK) and Tsakos Energy (TNP) to Buy from Hold.
• Cadence Design (CDNS) was upgraded to sector perform from underperform at RBC Capital.
• BofA/Merrill upgraded NV Energy (NVE) to buy from underperform and Education Realty Trust (EDR) to neutral from underperform.
• Men's Wearhouse (MW) was upgraded to buy from hold at Stifel.
• William Blair upgraded Atheros (ATHR) to outperform from market perform.
• Freeport McMoran (FCX) was upgraded to buy from hold at Argus.

Analyst Upgrades

• Union Pacific (UNP) and Polycom (PLCM) were upgraded to outperform from market perform at Wells Fargo.
• Time Warner Cable (TWC) was upgraded to outperform from sector perform at RBC Capital.
• Cheesecake Factory (CAKE) was upgraded to neutral from underweight at JPMorgan.
• LaSalle Hotel (LHO) was upgraded to outperform from neutral at RW Baird.
• Graco (GGG) was upgraded to buy from hold at BB&T.
• Valley National (VLY) was upgraded to market perform from underperform at Keefe Bruyette.
• Credit Suisse (CS) was upgraded to hold from sell at RBS.
• U.S. Bancorp (USB) was upgraded to outperform from perform at Oppenheimer.
• Penn National (PENN) and Riverbed (RVBD) were upgraded to buy from hold at Jefferies.
• Goodrich (GR) was upgraded to outperform from neutral at Cowen.
• Amazon.com (AMZN) upgraded to buy from average at Caris.

Freeport McMoRan (FCX) closed up $1.52 to $84.51. Copper prices closed up 2.54% according to Bloomberg. Overall option implied volatility of 40 is near its 26-week average of 43 according to Track Data, suggesting non-directional price movement.

Sears Holding Corporation (SHLD) closed up $3.62 to $71.77. SHLD October call option implied volatility is at 38, puts are at 54. This is versus its 26 week average of 42, according to Track Data. Active volume suggesting larger price movement. Puts are trading higher than calls on SHLD being difficult to borrow.

Options Update is by Stock Specialist Paul Foster of theflyonthewall.com.

Freeport McMoRan (FCX) closed at $61.48. Copper is recently up 1.64% to 282.50 according to Bloomberg. June put option implied volatility of 65, July is at 62, August is at 61, November is at 57, versus its six-month average of 47, according to Track Data, suggesting non-directional price movement.

Vivus (VVUS) closed at $11.88. A U.S. FDA advisory committee is tentatively set to review the company's new drug application for experimental Qnexa obesity treatment on July 15. VVUS June put option implied volatility is at 73, September is at 180, December is at 151, versus its 26-week average of 100, according to Track Data, suggesting larger price movement.

Update is by Stock Specialist Paul Foster of theflyonthewall.com.

Just look at the recent side-ways action by Freeport McMoRan (FCX), which I first discussed here on March 23, 2009, at a price of $41.87. Back then I thought of the stock as an extended buy opportunity of one of the business world's the premier companies.

Simply, Freeport is in the catbird seat regarding two key commodities: copper and gold. Hence, look for 15-20% revenue growth with FCX in 2010.

"We recommend Freeport-McMoRan (FCX), which bills itself as "the world's largest publicly-traded copper company". However, it also owns large deposits of gold and molybdenum," says Glenn Rogers.

The contributing analyst to The Internet Wealth Builder adds, "We also recommend BHP Billiton Ltd. (BHP), an Australian-based mining giant that has diversified into other areas such as crude oil, natural gas, and, most recently, potash in Saskatchewan. Its mineral assets include aluminum, silver, uranium, nickel, iron, diamonds, lead, and more.

Three stocks that deserve special call-out, in my view, for those investors who can tolerate moderate risk, due to their favorable risk/return.

Freeport McMoRan (NYSE: FCX). The global recovery appears to be underway, and with it demand for key commodities, such as copper, will increase. And Freeport, the world's second largest producer of copper, is poised to capitalize. Sell/Stop Loss if you were to buy shares in FCX: $32.

Freeport has taken a hit, and is not only still standing, it's ready to take on new challenges. I'm Reiterating my Buy rating for Freeport McMoRan (NYSE: FCX), first recommended on March 23, 2009 at a price of $41.87.

The global recovery appears to be underway, and with it demand for key commodities, such as copper, will increase. And Freeport, the world's second largest producer of copper, is poised to capitalize.

Analyst upgrades:

• UBS upgraded Target (NYSE: TGT) to Buy from Neutral and raised its price target to $52 from $45 citing reduced inventories, some credit stability, and an improved back-to-school period.
• Credit Suisse said concerns regarding Safeway's (NYSE: SWY) price position are overblown and that earnings risk is limited. The firm upgraded shares to Outperform from Neutral and raised the target price to $25 from $22.
• Oppenheimer upgraded Canadian Solar (NASDAQ: CSIQ) to Outperform from Perform as it believes the story is underappreciated following the recent sector rally. The firm has a $14 price target on the stock.
• CME Group (NASDAQ: CME) was upgraded to buy from Neutral at Goldman.
• Freeport McMoRan (NYSE: FCX) was upgraded to Overweight from Neutral at JP Morgan.
• Gilead Sciences (NASDAQ: GILD) was upgraded to Buy from Neutral at FTN Equity.

The U.S. stock market remains one characterized by considerable risk: It has shown some internal strength recently, but all its takes is one sub-expectations earnings report -- or one public policy error in Washington -- and the bears will be out in force again. Hence, discretion is the order of the day, with a premium placed on companies with demonstrated business models. With this in mind, Freeport-McMoRan is worth a review.

Freeport (NYSE: FCX) is a preferred miner due to its copper and molybdenum operations. Yes, the gold operation is sexy, but the copper operation is the backbone here, with the company boasting about 100 billion pounds of proven and probable copper reserves.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Amazon.com Inc. (NASDAQ: AMZN) shares surged after earnings easily topped Q4 expectations.
• AT&T Inc. (NYSE: T) reported that its Q4 earnings fell while its revenue rose marginally.
• Boeing Co. (NYSE: BA) posted a big loss and lower revenue due to strikes and design changes.
• Caterpillar Inc. (NYSE: CAT) reported that Q4 profit fell despite higher revenue and lowered its guidance.
• Danaher Corp. (NYSE: DHR) lower Q4 profit topped analysts' estimates, sending shares higher.
• Eastman Kodak Co. (NYSE: EK) reported a Q4 net loss and announced additional job cuts.