Nokia Corp. (NYSE: NOK : 6.485, 0.035), which manufactures and sells mobile devices and provides internet and digital mapping and navigation services worldwide, is upgraded to Neutral from Reduce by analysts at Nomura. They believe Nokia is set to post stronger-than-expected third-quarter results and expect the company to break even in the third quarter, compared with their previous view of a loss of $0.02 per share. Shares of Nokia added 3.56 percent, or $0.22, to trade at $6.40.
Analysts at Goldman Sachs raised the rating of IAC/InterActiveCorp. (Nasdaq: IACI : 41.27, 0.74), which is engaged in the internet business in the U.S., to Buy from Neutral with a price target of $46. They feel the company has a significant opportunity to turn around the recently acquired Meetic business. IACI's shares gained 3.26 percent, or $1.32, to trade at $41.83.
Boardwalk Pipeline Partners LP (NYSE: BWP : 28.02, 0.42), which is engaged in the interstate transportation and storage of natural gas in the U.S., is upgraded to Outperform from Market Perform by analysts at Morgan Keegan. The target price was lowered to $29 from $30. The former has entered into an agreement with Southwestern Energy Co. to facilitate the development of Southwestern's gas wells in the Marcellus shale. Shares of BWP rose 2.93 percent, or $0.74, to trade at $25.96.
Analysts at Ticonderoga cut the rating of First Solar Inc. (Nasdaq: FSLR : 54.26, 1.95) to Sell from Neutral with a price target of $40, down from $117. According to analysts, there will be acceleration into the downside in both pricing and volume expectations for the PV industry. Shares of First Solar slipped 4.27 percent, or $2.39, to trade at $53.52.
Norfolk Southern Corp. (NYSE: NSC : 69.74, 0.96), a leading railroad operator, is downgraded to Hold from Buy by analysts at Deutsche Bank. They cite the growing potential for lower coal shipments as the reason behind Norfolk's downgrade. Shares of NSC rose 0.57 percent, or $0.38, to trade at $67.59.
Patriot Coal Corp. (NYSE: PCX : 10.08, 0.03), which is engaged in the mining, production, and selling of thermal coal to electricity generators in the U.S., is lowered to Sell from Neutral with a price target of $10. Analysts see less attractive upside, returns, mid-cycle valuation, and limited catalysts in the absence of rising prices for Patriot. Shares of PCX were down 2.83 percent, or $0.29, to trade at $9.94.
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