NEW YORK (TheStreet) -- After starting off 2014 with a three-day losing streak, investors are trying to snap the drought. Currently, all three major U.S. indices are solidly in the green. Possibly helping is a decent trading session overseas in Europe.
However, TheStreet's Gregg Greenberg suggested that investors should be cautious, because a couple of Federal Reserve officials are scheduled to address the public today.
Boston Fed President Eric Rosengren is scheduled to discuss the economic outlook, while San Francisco Fed President John Williams is scheduled to speak about the economy and monetary policy at 2:00 p.m. EST.
Janet Yellen was confirmed as the new head of the Federal Reserve on Monday evening, Greenberg noted.
Turning to individual stocks, Convergys (CVG) is higher by roughly 7%, on news that it will acquire Stream Global Services for $820 million.
He added that Splunk (SPLK) is up nearly 6% on an upgrade from UBS. The investment bank also upgraded shares of WorkDay (WDAY) to buy from neutral with a $100 price target. WorkDay shares are higher by roughly 4%.
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Finally, Greenberg said that Morgan Stanley downgraded shares of Netflix (NFLX) based on increased competition in the video streaming space.
Shares were lower by almost 5%.
-- Written by Bret Kenwell in Petoskey, Mich.