Amid the fluctuation in the market, several stocks were upgraded or downgraded by analysts and rating agencies. Some notable upgrades and downgrades are discussed here.
Shares of Hershey Company (NYSE: HSY) added 3.76 percent or $1.83 to $50.44 as the company is upgraded to Outperform from Neutral at Credit Suisse.
Qiagen NV (NASDAQ: QGEN) moves up to Buy from Hold at Societe Generale. Shares of Qiagen gained 2.53 percent or $0.46 to $18.61 after the news.
FedEx Corporation (NYSE: FDX) is raised to Outperform from Neutral with a price target of $117 by brokers Robert W. Baird. Shares of FedEx were up 0.77 percent or $0.70 to $91.50 during the day's trading.
Concur Technologies Inc. (NASDAQ: CNQR) slipped 1.80 percent or $0.92 to $50.28 despite the company being hoisted to Outperform from Neutral by Robert W. Baird.
Arch Coal Inc. (NYSE: ACI) is upgraded to Buy from Hold with a price target of $42 at Argus. However, shares of the company lost 1.57 percent or $0.54 to $33.77 during the day's trading.
Shares of Rackspace Hostings Inc. (NYSE: RAX) lost 1.63 percent or $0.58 to $35.10 as the company gets downgraded to Hold from Buy at Kaufman Brothers.
Boston Scientific Corporation (NYSE: BSX) moves down to Market Perform from Outperform with a price target of $8. Shares of the company were down 0.29 percent or $0.02 to $6.83 after the news.
Shares of Nalco Holding Company (NYSE: NLC) gained 3.32 percent or $0.90 $27.99 despite the company being downgraded to Hold from Buy at Soleil.
Southwest Airlines Company (NYSE: LUV) is reduced to Hold from Buy at Argus. However, shares of the company were up 0.69 percent or $0.08 to $11.65. Old Dominion Freight Line Inc. (NASDAQ: ODFL) is lowered to Neutral from Overweight with a $34 price target at Piper Jeffrey. Shares of the company were down 2.21 percent or $0.68 to $30.10.