Mattel is upgraded to 'buy,' and Qualcomm is initiated with a 'buy.'
Stocks are higher with the Dow narrowly underperforming the Nasdaq and S&P after Wednesday's big run-up.
American Eagle is downgraded to 'hold,' and Urban Outfitters is upgraded to 'hold.'
Investors haven't been as keen on the sector as value-conscious shoppers.
Shares fall nearly 13% as investors continue to be skeptical about CEO Ron Johnson's turnaround strategy. To entice shoppers during the holidays, Penney will give away buttons with codes that could lead to prizes such as a Disneyland trip.
Canaccord initiates Kraft Foods with a 'buy' and Mondelez with a 'sell.'
The firm also downgrades AMD, Intel and Marvell.
The struggling retailer is doing whatever it can to lure back customers these days.
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