NEW YORK ( TheStreet) -TheStreet Ratings' stock model upgraded Philips Electronics (PHG - Get Report) to 'Buy' from 'Hold'. This consumer products company outperformed expectations in the second quarter as soccer fanatics worldwide purchased new, wide-screen television sets ahead of the 2010 World Cup.
TheStreet Ratings released rating changes on 14 additional U.S. common stocks for July 23, 2010. In total, just three stocks were downgraded and 12 stocks have been upgraded by our stock model. The stock model's generally bullish trend continues for second quarter earnings season.
The net income at Philips Electronics increased by 500% when compared to the same quarter one year prior. Over the same period, revenues rose by 12% to $7.9 billion. Shares in this company have responded climbing 48.5% in one year.
Also being upgraded by our stock model to 'Buy' from 'Hold' is Data I/O Corp (DAIO - Get Report). This device programming company reported a 69% increase in quarterly sales over the second quarter of 2009 with net income jumping by 226%.-- Reported by Kevin Baker in Jupiter, Fla.
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