US stocks slipped on Monday, weighed down by rising oil prices and downgrade of the semiconductor industry by analysts. Dow Jones Industrial Average lost 107.02 points, or 0.88 percent to 12,062.86, while Nasdaq slipped 53.48 points, or 1.92 percent to 2,731.19. S&P 500 also lost14.28 points, or 1.08 percent to 1,306.87 in today's trading.
Analysts at Pacific Crest upgraded Sprint (NYSE: S) to outperform from sector perform, based on its network upgrade plan, improving churn, cost savings, and a bottom in EPS. The shares of the company are trading at $4.46, up 2.77 percent.
FirstMerit (Nasdaq: FMER) was upgraded to Buy from Hold at Stifel, based on valuation and long-term growth prospects. The upgrade came after the firm cited 6 percent jump in the company’s shares from $1.02, to $17.69.FMER is trading high by 2.82 percent at $17.14.
The shares of MasTec (NYSE: MTZ) have been upgraded to Outperform from Neutral by analysts at Credit Suisse, based on increased confidence in its near-term growth prospects. The stock is currently trading at $20.06, up by 5.90 percent.
Brinker (NYSE: EAT) has been upgraded by UBS to Buy from Neutral, based on stabilizing same-store-sales and recent sales momentum. EAT is trading higher by 5.58 percent to $25.15.
Oppenheimer upgraded CA Technologies (Nasdaq: CA) to Outperform from Perform with a $29 price target citing valuation, the company's execution, and recent insider buying of shares. The shares of CA are trading at$24.53, 2.40 percent high.
