NEW YORK (
) -TheStreet Ratings' stock model upgraded
to 'Buy' from 'Hold'. This $16.6 billion market capitalization builder of Kenworth and Peterbilt tractor trailers and related truck parts saw their net income roar ahead by 276% in the second quarter over second quarter 2009.
TheStreet Ratings released rating changes on 25 additional U.S. common stocks for July 27, 2010. In total, just 11 stocks were downgraded and 15 stocks have been upgraded by our stock model. The number of upgrades narrowly outpaced the number of downgrades today sustaining the bullish trend as seen by our stock model results.
The uptick in the U.S. economy felt is expanding demand for freight hauling. The ripple effect lead to more fleet usage requiring more truck parts to put tractor trailers back in service. As a result, second quarter revenue rolled ahead by 39% to 2.22 billion over the prior year period.
Also being upgraded by TheStreet Ratings' stock model is
raised to 'Buy' from 'Hold'. As a maker of truck engines, this company is benefitting from the same economic trend that sent second quarter revenue up by 32% and net income up by 339% over second quarter 2009.
-- 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.