Joy Global (JOYG) popped 11%. A Keybanc analyst upgraded the company to ‘buy’, citing higher commodity prices. - Looks good to me, counsels Tim Seymour.
JPMorgan Chase (JPM) popped 6%. New accounting rules may help the bank profit from bad loans it absorbed when it acquired Washington Mutual. - I would be a seller, counsels Guy Adami. It's been stuck in a range and now it's in the upper part of that range.
Qwest (Q) popped 7%. JPMorgan upgraded the firm to ‘overweight’ from ‘neutral’ citing strong revenue trends and valuation. - Not interested, says Karen Finerman
Petrobras (PBR) popped 3%. Goldman added this stock to its prestigious “Conviction Buy” list. - I like this name, says Tim Seymour.
Zions Bancorp (ZION) popped 14%. Morgan Stanley upgraded this lender to ‘overweight’ from ‘equalweight’ due to valuation and good growth opportunities. - I can't get my arms around the regional banks, says Joe Terranova.
DROPS (stocks that slid lower)
Barrick Gold (ABX) dropped 3%. The miner traded in tandem with the spot price of gold – lower. - I would not buy this stock as a proxy for gold, counsels Joe Terranova.