Morning Call For Monday, October 2

U.S. IPO's scheduled to price today: PDL Community Bankcorp (PDLB).

Equity conferences this week: ADAS & Autonomous Vehicles USA Conference on Mon, Capital Link New York Maritime Forum on Mon, Eurosurfas Conference on Mon, PDA Universe of Pre-filled Syringes and Injection Devices Confernce on Mon, Deutsche Bank U.S. Leveraged Finance Conference on Mon-Wed, European Utility Week Conference on Tue, Global Gaming Conference - Panel on Tue, Helitech International Conference on Tue, NetApp Insight Investor Summit on Tue, Japan Pack Trade Show on Tue, Linley Processor Conference on Wed, Petaluma Area Chamber of Commerce Business Conference on Fri.

OVERNIGHT U.S. STOCK MOVERS

Akamai (AKAM +2.18%) was upgraded to 'Buy' from 'Neutral' at Guggenheim Securities with a target price of $54.

Stanley Black & Decker (SWK +0.97%) was upgraded to 'Overweight' from 'Equal-Weight' at Morgan Stanley with a target price of $169.

Citrix (CTXS +0.17%) was upgraded to 'Outperform' from 'Market Perform' at Wells Fargo Securities with a price target of $95.

Fifth Third Bancorp (FITB +1.41%) was downgraded to 'Underperform' from 'Neutral' at Baird.

Select Comfort (SCSS +0.39%) was upgraded to 'Outperform' from 'Market Perform' at Raymond James with a 12-month target price of $35.

PepsiCo (PEP -0.19%) was downgraded to 'Hold' from 'Buy' at Jeffries.

Union Pacific (UNP unch) was downgraded to 'Equal-Weight' from 'Overweight' at Morgan Stanley.

CSX Corp (CSX +1.06%) was downgraded to 'Underweight' from 'Equal weight' at Morgan Stanley who lowered their price target on the stock to $43.

Tiffany (TIF +0.92%) was upgraded to 'Buy' from 'Hold' at HSBC with a price target of $110.

Finish Line (FINL +3.17%) was downgraded to 'Neutral' from 'Positive' at Susquehanna Financial.

Trinity Industries (TRN +2.31%) jumped nearly 10% in after-hours trading after a federal appeals court in New Orleans overturned a 2015 ruling against TRN for a $663 million judgement that was awarded in a lawsuit the alleged the company defrauded the U.S. government with a faulty highway guardrail safety system.

TerraForm Power (TERP -0.83%) may move higher this morning after it reported Q2 adjusted Ebitda of $136 million, better than consensus of $119.7 million.

MARKET COMMENTS

Dec S&P 500 E-mini stock futures (ESZ17 +0.17%) this morning are up +4.00 ponts (+0.16%) at a new all-time nearest-futures high. Friday's closes: S&P 500 +0.37%, Dow Jones +0.11%, Nasdaq +0.78%. The S&P 500 on Friday posted a new record high and closed higher on carry-over support from a rally in European stocks after the German Sep unemployment rate fell to 5.4%, the lowest since German reunification began and a sign of economic strength. U.S. stocks also received a boost from the unexpected +6.3 point increase in the Sep Chicago PMI to 65.2, stronger than expectations of -0.2 to 58.7.

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Disclosure: None.

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