Discouraging jobless claims report pushed the US market into a tight corner this morning. Late buying interest helped the market to recover from the morning blues. Dow Jones Industrial Average was slightly down 0.05 percent or 6.25 points to 11,744.20. NASDAQ Composite index added 0.15 percent or 3.72 points to 2,740.52. The Standard and Poor's 500 index marginally fell 0.01 percent or 0.16 points to 1,285.80.
Several companies have been upgraded and downgraded by analysts and rating agencies during the day.
Wells Fargo has upgraded Hershey Company (NYSE: HSY) from Market Perform to Outperform. Shares of the company were up 2.15 percent or $1.05 to $49.84 in the morning.
Fidelity National Information (NYSE: FIS) gained 1.02 percent or $0.30 to $29.83 as the company is moved to Buy from Neutral at Goldman Sachs.
Unilever NV (NYSE: UN) has been moved from Hold to Buy at the Royal Bank of Scotland. Shares of Unilever were up 0.23 percent or $0.07 to $30.40 after the news.
Micron Technology Inc. (NASDAQ: MU) climbed up 4.07 percent or $0.38 to $9.72 as brokers Robert W. Baird hoist the company to Outperform from Neutral.
General Dynamics Corporation (NYSE: GD) has been upgraded at Citigroup to Buy from Neutral. Shares of the company were up 0.56 percent or $0.37 to $71.56.
ExlService Holdings Inc. (NASDAQ: EXLS) added 0.45 percent or $0.10 to $22.21. The company is upgraded to Overweight from Neutral at JP Morgan Chase & Co.
Pier 1 Imports Inc. (NYSE: PIR) is pulled down from Buy to Hold at BB&T Capital. Shares of Pier 1 lost 5.34 percent or $0.59 to $10.46.
Goldman Sachs moves Towers Watson & Co. (NYSE: TW) down to Neutral from Buy. Shares of Towers Watson slipped 0.86 percent or $0.47 to $54.51 after the news.
Smith Micro Software Inc. (NASDAQ: SMSI) tumbles 10.70 percent or $1.68 to $14.02 as the company is downgraded to Neutral from Overweight at JP Morgan Chase & Co.
Amdocs Limited (NYSE: DOX) added 1.11 percent or $0.31 to $28.18. The company is downgraded to Neutral from Buy at Goldman Sachs.
ITT Corporation (NYSE: ITT) is reduced by Cowen to Neutral from Outperform. Shares of ITT fell 1.95 percent or $1.20 to $60.30.
Chubb Corporation (NYSE: CB) is lowered from Buy to Hold at Deutsche Bank. Shares of Chubb were down 0.82 percent or $0.47 to $57.71.