NEW YORK (
) -TheStreet Ratings' stock model upgraded
to 'Buy' from 'Hold'. Net income at this $128 billion market cap, biopharmaceutical company rose by 9.5% to $2.5 billion in the second quarter when compared to the year earlier quarter.
TheStreet Ratings released rating changes on 16 additional U.S. common stocks for August 25, 2010. In total, seven stocks were downgraded and 10 stocks have been upgraded by our stock model.
Gross sales at Pfizer reached $17.3 billion in the second quarter of 2010, up 58% from the year earlier quarter. The company is collaborating with
to study Atrial fibrillation treatments among other research.
Heading the other direction, being downgraded to 'Hold' from 'Buy', is
. The stock of this $124 billion market capitalization, money-center bank, is at a new 52-week low, having fallen as much as 30% from its early May high of $34.25. The shares, listed as a top-five equity holding of market heavyweight
, have deteriorated along with investor expectations of a robust economic recovery.
-- 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.