Before the Open (May 14)

Good morning. Happy Monday. Hope you had a good weekend.
The Asian/Pacific markets closed with a lean to the upside. Japan, Hong Kong, New Zealand, Taiwan and the Philippines did well; South Korea was weak. Europe, Africa and the Middle East are currently mixed. Turkey, the UAE, Denmark, Hungary, Portugal and Saudi Arabia are up; Poland, Greece, Germany, Finland, Kenya, Norway, Italy and Israel are down. Futures in the States point towards a positive open for the cash market.
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VIDEO: Trading Ideas for the Market’s Next Leg Up
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The dollar is down. Oil is up; copper is down. Gold and silver are down. Bonds are down.
Overnight Stock Movers from barchart.com…
United Parcel Service (UPS +1.28%) was upgraded to ‘Buy’ from ‘Neutral’ at Bank of America/Merrill Lynch with a price target of $144.
Masco (MAS +0.55%) was upgraded to ‘Outperform’ from ‘Market Perform’ a Wells Fargo Securities with a price target of $45.
L Brands (LB +2.05%) was upgraded to ‘Buy’ from ‘Neutral’ at Citigroup with a price target of $38.
Meritage Homes (MTH -0.34%) was upgraded to ‘Buy’ from ‘Underperform’ at Bank of America/Merrill Lynch with a price target of $60.
Dean Foods (DF +2.05%) was downgraded to ‘Sell’ from ‘Hold’ at Deutsche Bank with a price target of $9.
Owens Corning (OC -0.43%) was downgraded to ‘Market Perform’ from ‘Outperform’ at Wells Fargo Securities.
Lam Research (LRCX -1.21%) was upgraded to ‘Buy’ from ‘Neutral’ at Citigroup with a price target of $245.
Federated National Holding (FNHC -0.54%) was upgraded to ‘Strong Buy’ from ‘Outperform’ at Raymond James with a price target of $24.
Renewable Energy Group (REGI +0.36%) jumped over 6% in after-hours trading after it was announced that it will replace Synchronoss Technologies in the S&P SmallCap 600 effective prior to the open of trading on Tuesday, May 15.
Perrigo (PRGO +2.62%) slid 4% in after-hours trading after it said it expects the FDA will reject its application for its asthma inhaler, a generic version of Teva Pharmaceutical Industries Pro Air. Teva Pharmaceutical Industries Ltd (TEVA +0.36%) gained more than 1% after the news.
Heartland Express (HTLD +0.11%) announced the authorization for the repurchase of up to 5 million shares of its outstanding common stock.
Abeona Therapeutics (ABEO +4.24%) dropped 5% in after-hours trading after it filed to sell a $500 million mixed securities shelf.
Today’s Economic Calendar
2:45 Fed’s Mester Speech
9:40 Fed’s Bullard Speech
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY