NEW YORK (
) -TheStreet Ratings' stock model upgraded
Time Warner Cable
to 'Buy' from 'Hold'. This cable television provider boosted revenue by 6% to $4.7 billion in the second quarter when compared to the same quarter last year.
TheStreet Ratings released rating changes on 35 additional U.S. common stocks for August 5, 2010. In all, 12 stocks were downgraded and 24 stocks have been upgraded by our stock model. The number of upgrades exceeding downgrades by a two-to-one margin today continues to be a bullish signal from our model for continued economic recovery.
The increase revenue at Time Warner Cable flowed down the bottom line with second quarter net income of $342 million topping the $316 million earned in second quarter 2009. The number of customers generating revenue for Time Warner grew by 110,000 to 35.8 million.
At a new 52-week low today, insurer
is being downgraded by TheStreet Ratings' stock model to 'Sell' from 'Hold'. The company, which owns John Hancock Financial Services, lost $2.3 billion in the second quarter as it continues to suffer a low interest rate environment hampering the company's ability to safely earn a return on its investment portfolio.
-- Reported by Kevin Baker in Jupiter, Fla.
check out our Ratings Research Center.
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.