UBS

UPGRADES
Jefferies & Co upgrades Rosetta Stone (NYSE: RST) from Hold to Buy. Price target raised from $24 to $29.

Goldman Sachs upgrades two pharma's from Sell to Neutral:AstraZeneca plc (NYSE: AZN); and

GlaxoSmithKline plc (NYSE: GSK). Click Here for more color.Deutsche Bank upgrades China Unicom (NYSE: CHU) and China Telecom (NYSE: CHA) from Hold to Buy. Think China Unicom is one of their ...

Last night, Fluor Corporation (NYSE: FLR) reports Q2 EPS of $0.93, 2 cents better than the analyst estimate of $0.91. Revenue for the quarter was $5.3 billion, versus the consensus of $5.81 billion.

Fluor is trading down 5.77% to $54.17.

FLR Q2 conf call highlights:
EPS was $0.93 for this quarter and that compares with $1.12 for the year ago quarter.
Both the Oil & Gas and Government segments had good profit growth over last year.
Segment profit margin overall rose to 5.8% compared with 5.4% a year ago when you normalize the 2008 to exclude the Greater Gabbard gain.
Revenue ...

UPGRADES:
Wunderlich Securities upgrades Flour (NYSE: FLR) from Hold to Buy and raises their price target from $49 to $65. The firm commented, We believe Fluor is well positioned globally to take advantage of longer-term spending trends, but had concerns that nearer-term backlog erosion would be significant in this economic environment.

Citigroup upgrades EchoStar (Nasdaq: SATS) from Sell to Buy and ...

Fluor Corporation (NYSE: FLR) reports Q2 EPS of $0.93, 2 cents better ...

Davenport initiates coverage on Fluor (NYSE: FLR) with a Buy. Price target $59.

Davenport analyst says, "Fluor, along with KBR (NYSE: KBR) and Shaw (NYSE: SGR), is one our top picks in the E&C space. Few companies are better positioned than Fluor to meet the world’s increasing need for energy and infrastructure ...