NEW YORK (
) -TheStreet Ratings' stock model upgraded
to 'Buy' from 'Hold'. Net income at this $29 billion market cap chemical company increased to $651 million compared to a loss of $344 million in the second quarter 2009.
TheStreet Ratings released rating changes on 29 additional U.S. common stocks for August 13, 2010. In total, just one stock was downgraded and 29 stocks have been upgraded by our stock model. The number of upgrades exceeding downgrades by a wide margin today continues the bullish trend coming from our model's analysis of second quarter earnings.
Gross sales at Dow added 20.3% to $13.6 billion in the second quarter of 2010 compare to the year earlier quarter. The company may be big, but it is not standing still. Dow released changes of leadership and corporate structure today to continue the growth in domestic, Latin American, and emerging-markets business units.
Another large company being upgraded to 'Buy' from 'Hold' is
. This $25 billion market capitalization, financial services company, improved its top-line revenue by 60.1% to $11.1 billion in the second quarter over the same quarter last year as net income jumped 561% to $1.1 billion. Prudential figured out that it could earn additional interest income by holding onto life insurance benefits owed to beneficiaries although this practice has raised the ire of insurance regulators in Georgia who are investigating the practice.
-- Reported by Kevin Baker in Jupiter, Fla.
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Kevin Baker became the senior financial analyst for TheStreet Ratings upon the August 2006 acquisition of Weiss Ratings by TheStreet.com, covering mutual funds. He joined the Weiss Group in 1997 as a banking and brokerage analyst. In 1999, he created the Weiss Group's first ratings to gauge the level of risk in U.S. equities. Baker received a B.S. degree in management from Rensselaer Polytechnic Institute and an M.B.A. with a finance specialization from Nova Southeastern University.