Editor's Note: In this feature from Stockpickr, we highlight lists of stocks that have been upgraded by analysts or are experiencing activist-investor situations or some other market-moving events.
: The diminished likelihood of a takeout in the short term prompted UBS to lower its stock-price target on
( TLAB) from $14 to $11.50. According to the StreetInsider.com, the research firm cited internal weakness at the two most likely suitors --
, a joint venture between
UBS said that following their weak second quarters, Nokia-Siemens is likely to focus on integrating the two companies rather than large M&A, and Nortel could find it expensive to go to the debt market for M&A due to the current market conditions. The firm maintained its neutral rating on Tellabs. Tellabs stock dropped 2 cents to $10.37 while Nortel lost 18 cents to $17 in recent trading Tuesday.
Meanwhile, StreetInsider also points to a report in the
New York Post
( CFC) is trying to put together another multibillion-dollar bailout as the lender struggles through the credit squeeze and decline in housing prices. The
sources say the mortgage company will continue working with Goldman Sachs but may now be trying to tap JPMorgan or Citi as well as several hedge funds that have recently expressed interest. One source familiar with the company said Countrywide is in desperate need of cash right now and the credit markets are still largely closed to it. Countrywide shares fell off 62 cents, or 3.6%, at $16.59.
reported today that global comparable sales rose 8.1% in August. U.S. comparable sales for the month rose 7.4% due to the ongoing strength of the fast-food chain's breakfast business, beverages and new food offerings. The company also said that positive sales growth in France, the U.K. and Germany drove Europe's comparable sales up 6.1% for the month and comparable sales increased 12.4% in Asia/Pacific, Middle East and Africa due to robust sales in Japan, Australia and China. The stock jumped $1.89 to $52.04.
are 22% higher to $46.24 following news that drug Erbitux met its phase III study's primary endpoint of increasing survival in lung cancer patients.
: Merrill Lynch downgraded
from neutral to sell and also cut 2008 estimates based on lower housing expectations. Shares are lower by 63 cents at $24.18.
: Thomas Weisel upgraded
from underweight to market-weight, citing strong August trends and a pullback in the stock. Credit concerns may actually help by slowing overall supply growth, said Weisel, which slapped the stock with a $61 price target. Shares are gaining a slight 22 cents at $56.20.
: StreetInsider.com reports that Sardar Biglari's Lion Fund disclosed in an amended regulatory filing on
Steak n Shake
( SNS), a 6.7% stake, or 1.9 million shares, in the restaurant company. This is up from the 5.8% stake the firm disclosed in the original filing in August. In the August filing, Biglari disclosed a letter to the company nominating Sardar Biglari and Philip L. Cooley for election to the board of directors at the 2008 annual shareholder meeting. Steak n Shake added 25 cents at $16.08.
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