Stocks opened sharply higher Monday following news that China is dropping its informal peg of the yuan to the dollar, a move investors believe will boost Chinese demand for exports as well as commodities.
The Dow Jones Industrial Average was up about 100 points at the start, led by multinational corporations including Caterpillar , Alcoa and United Technologies .
The yuan surged to its highest in five yearsMonday following the news, which also encouraged investors to snap up riskier assets.
So which individual stocks are worth watching today? Here are six that are on the move:
The petroleum refiner and marketer was upgraded to outperform from neutral at MacQuarie Research with a price target of $50.
The Las Vegas-based casino developer and operator was downgraded to hold from buy at Keybanc.
The homebuilder and financial company was upgraded to sector perform from underperform at FBN Securities.
The staffing and risk consulting service was upgraded to outperform from neutral at Credit Suisse.
The petroleum exploration and production company was downgraded to junk by Moody's.
The online restaurant reservation service was downgraded to hold from buy at Citi.
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