The markets opened higher with the Dow rising 10 points to 11,411 as Greece continues discussions with lenders to secure bailout funds. Nasdaq added 6 points to 2619.
On the upside
Morgan Stanley cited MGM Resorts' (NYSE: MGM) falling stock price for upgrading the casino operator to an Overweight rating.
UBS upgraded PulteGroup (NYSE: PHM) to a Buy rating saying that the company's valuation made it an attractive investment.
Brean Murray upgraded Rex Energy (NYSE: REXX) to a Buy rating saying that the five day flow rates at the Marcellus Shale well are far above rates of nearby wells.
On the downside
JPMorgan Chase cited falling rare earth prices for downgrading Molycorp (NYSE: MCP) to a Neutral rating.
Home Properties (NYSE: HME) priced its offering of 6 million common shares at the discounted price of $58.50 per share.
Western Gas Partners (NYSE: WES) priced its offering of 5 million common units at the discounted price of $35.86 per unit.
In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE while advancers edged out decliners by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 700.
