The Stocks Wall Street Is Watching
The following stocks may be
impacted due to significant news as noted:
Computer hardware giant International Business Machines
(
IBM |
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PowerRating) has
been downgraded by Banc of America to “market perform” from “buy”.
Communications equipment maker Qualcomm
(
QCOM |
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PowerRating) has been downgraded
by Salomon Smith Barney to “in-line” from “outperform”, and has had coverage
initiated by Merrill Lynch at “neutral”.
Drug maker
Schering-Plough
(
SGP |
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News |
PowerRating) has been upgraded by Prudential to “buy” from “hold”.
Bear Stearns has downgraded the following gaming stocks to “hold” from “strong
buy” based on the belief that the stock prices for the group will remain range
bound for the next two years: Activision
(
ATVI |
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PowerRating), Midway Games
(
MWY |
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News |
PowerRating), and THQ Inc.
(
THQI |
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PowerRating). Also, Acclaim Entertainment
(
AKLM |
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PowerRating)
was downgraded by Stearns to “reduce” from “hold” for the same reason.
Bank of America has upgraded the oil service sector
to “overweight” from “market weight”, and has listed the following stocks as top
picks: Patterson UTI Energy
(
PTEN |
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PowerRating), Nabors Industries
(
NBR |
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Chart |
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PowerRating), BJ Services Co.
(
BJS |
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PowerRating), Smith International Inc.
(
SII |
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PowerRating),
Ensco International
(
ESV |
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PowerRating), and Rowan Cos.
(
RDC |
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PowerRating).