Aetna Inc. (NYSE: AET) was reinstated as Buy at Goldman Sachs.

American Tower Corp. (NYSE: AMT) was raised to Outperform from Neutral at Macquarie.

BlackRock Inc. (NYSE: BLK) was raised to Outperform from Neutral at Macquarie.

Cray Inc. (NASDAQ: CRAY) was started as Buy with $25 price target at Stern Agee.

Cubist Pharmaceuticals Inc. (NASDAQ: CBST) was raised to Hold from Sell at Cantor Fitzgerald.

Hasbro Inc. (NASDAQ: HAS) started as Overweight at Piper Jaffray.

IntercontinentalExchange Inc. (NYSE: ICE) was raised to Outperform from Neutral at Macquarie.

LeapFrog Enterprises Inc. (NYSE: LF) was started as Overweight at Piper Jaffray.

Mattel Inc. (NASDAQ: MAT) started as Overweight at Piper Jaffray.

Sony Corp. (NYSE: SNE) was started as Buy at Jefferies.

Stifel Financial Corp. (NYSE: SF) was raised to Market Perform from Underperform at Wells Fargo.

Goldman Sachs has raised its 2013 S&P 500 price target to 1,750 from 1,625, and it raised the S&P 500 price target for 2014 to 1,900 from 1,775.

See also: Merrill Lynch Recommends Specialty Metals and Mining Stocks to Buy

The Xbox is expected to have the minimum features any new product in the industry would have. Among these are broadband connections which support HD movie downloads and streaming, and multiplayer gaming that allows users to compete across the world.

The critical feature will be the extent to which the console supports free games which world on smartphones and tablets. And, whether the Xbox platform can be migrated to an owners portable devices without any fee. In a game world, where many new products are free, offering a lot of free features could be Microsoft’s path to a successful product.

Boeing Co. (NYSE: BA) starts to deliver the 787 Dreamliner again. (Reuters)

Amazon.com Inc.’s (NASDAQ: AMZN) efforts to get companies to use its cloud computing service begins to use outside consultants to make the case to corporations. (Reuters)

HSBC Holdings PLC (NYSE: HBC) plans to cut another $2 billion to $3 billion in costs by 2016. (Reuters)

Sony Corp. (NYSE: SNE) and Sharp must contend with shareholder and bond holder concerns about their futures. (WSJ)

The U.S. deficit falls below Congressional Budget Office estimates because of tax receipts, lower federal costs and dividends from firms such as Fannie Mae. (WSJ)

Wal-Mart Stores Inc. (NYSE: WMT) will start to improve safety at its Bangladesh suppliers. (WSJ)

Votes from shareholders show that Jamie Dimon of J.P. Morgan Chase & Co. (NYSE: JPM) is likely to hold both the chairman and CEO jobs. (WSJ)

Google Inc. (NASDAQ: GOOG) will start a streaming music business. (WSJ)

Blackberry (NASDAQ: BBRY) targets emerging markets with its new phones. (WSJ)

T-Mobile US Inc. (NYSE: TMUS) raises the price of the Apple Inc. (NASDAQ: AAPL) iPhone 5. (WSJ)

Governor Jerry Brown claims California will have a $1.1 billion surplus this year. (WSJ)

Data from China prompt some economists to cut growth forecasts. (WSJ)

Lockheed Martin Corp. (NYSE: LMT) CEO Marillyn Hewson presses critics of the F-35, saying many of the development troubles have improved. (WSJ)

Dell Inc. (NASDAQ: DELL) is expected to report lower-than-estimated profits. (WSJ)

The European Union is looking into charges that oil firms set published prices of crude. (WSJ)

Revenue growth at Cisco Systems Inc. (NASDAQ: CSCO) drops sharply recently. (WSJ)

The Justice Department claims Apple was a central player in e-book price fixing. (NYT)

China’s corporate debt market could match that of the United States in size. (FT)

Large Japanese carriers ANA Holdings and Japan Airlines are in talks with Airbus about the A350. (Bloomberg)

HSBC may cut 14,000 jobs. (Bloomberg)

The U.S. dollar index is trading up 0.38% today, now at 83.5910. The GSCI commodity index is down 0.2% at 627.87. WTI crude oil closed down 1%, at $95.1794.21 a barrel following the release of the International Energy Agency’s mid-term outlook predicting that growing U.S. crude oil will set off a “supply shock” that will drive down the price of crude. Brent crude trades down 0.2% at $102.61 a barrel. Natural gas is up 2.3% today at about $4.02 per million BTUs. Gold settled down 0.7% today at $1,424.50.

The unofficial closing bells put the DJIA up more than 123 points to 15,215.25 (0.82%), the NASDAQ rose nearly 24 points (0.69%) to 3,462.61, and the S&P 500 rose 1.01% or nearly 17 points to 1,650.34.

There were a several analyst upgrades and downgrades today, including:

KB Home (NYSE: KBH) cut to ‘market perform’ at Raymond James;
Cree Inc. (NASDAQ: CREE) cut to ‘hold’ at Jefferies;
Fusion-io Inc. (NYSE: FIO) raised to ‘buy’ at UBS;
Yahoo! Inc. (NASDAQ: YHOO) maintained on ‘Conviction Buy’ list and price target raised to $30 at Goldman Sachs; and
AllScripts Healthcare Solutions Inc. (NASDAQ: MDRX) raised to ‘buy’ at Citigroup.

Earnings reports since markets closed last night have resulted in some price changes for reporting companies as of the last half hour of trading today:

Copa Holdings SA (NYSE: CPA) is up 8.2% at $135.25 after posting a new 52-week high of $138.99 earlier today;
Renren Inc. (NYSE: RENN) is up 0.2% at $3.00;
Take-Two Interactive Software Inc. (NASDAQ: TTWO) is up 1.3% at $16.60 after posting a new 52-week high of $17.54;
Pan American Silver Corp. (NASDAQ: PAAS) is down 1.4% at $12.43; and
SolarCity Corp. (NASDAQ: SCTY) is down 12.2% at $31.50, and we’ve noted something to watch for that could help this company and probably many other alt energy players.

Before markets open tomorrow morning we are scheduled to hear earnings from Agilent Technologies Inc. (NYSE: A), Dillard’s Inc. (NYSE: DDS), Primo Water Corp. (NASDAQ: PRMW), Computer Sciences Corp. (NYSE: CSC), Deere & Co. (NYSE: DE), First Majestic Silver Corp. (NYSE: AG), and Macy’s Inc. (NYSE: M).

Some standouts among heavily traded stocks today include:

Sony Corp. (NYSE: SNE) is up 9.6% at $20.70, after posting a new 52-week high of $22.22 earlier today. The consumer electronics firm is being encouraged by activist investor Daniel Loeb to break into pieces, which may not be the best idea he’s ever had.

Nokia Corp. (NYSE: NOK) is down 5.5% at $3.63. The mobile phone maker introduced a new phone today. Investors apparently were not impressed.

Groupon Inc. (NASDAQ: GRPN) is up 7.8% at $6.86. The daily deals company had no news today, but heavier than normal volume indicates demand was good for the stock.

Stay tuned for Wednesday. We have noted the following events on the schedule (all times Eastern):

• 7:00 a.m. – Mortgage Bankers Association purchase applications
• 8:30 a.m. – Producer price index
• 8:30 a.m. – Empire State manufacturing survey
• 9:00 a.m. – Treasury International Capital (TIC) data
• 9:15 a.m. – Industrial production
• 10:00 a.m. – Housing market index
• 10:00 a.m. – E-commerce retail sales
• 10:30 a.m. – EIA weekly petroleum status report

The device is Nvidia’s first entry into the video game console market, and is priced at $349. That is roughly in the same ballpark as Nintendo’s Wii U console, the PlayStation 4 from Sony Corp. (NYSE: SNE) due out later this year, and the Xbox 360 from Microsoft Corp. (NASDAQ: MSFT).

Nvidia’s SHIELD also allows users to watch streaming videos, access streaming music and use other Android apps just like an Android phone or tablet. If SHIELD has an advantage going into the market, this is it. The universe of Android apps now totals about 700,000.

The SHIELD sports a 5-inch flip-up multitouch display, which is no bigger than the largest mobile smartphone screens. The appeal of the device to gamers is the hand-held console, replete with familiar buttons, which offer more control over the gaming experience than what is available on a smartphone. The device can also be connected to a PC that uses Nvidia’s GeForce GTX graphics cards.

Whether Nvidia’s device will appeal to hard-core gamers is the big question. Shares of Nvidia are up about 1.7% this morning, at $14.48 in a 52-week range of $11.15 to $15.22.

The idea that Sony should part with its studios is not new, but it may have renewed impetus. The New York Times reports on the call for Sony to break up:

An American hedge fund billionaire known for starting big fights has called for a breakup of the entertainment and electronic colossus Sony, according to people briefed on the matter, possibly setting off a battle that could roil Japan’s famously staid corporate culture.

The call, which came Tuesday, will most likely be viewed by government officials and corporate leaders in Tokyo as a shot across the bow from Wall Street, just as Western investors begin piling into Japanese stocks.

The hedge fund manager, Daniel S. Loeb, is pressing Sony into spinning off part of its entertainment arm, which includes one of the biggest film studios in Hollywood and one of the largest music labels in the world, responsible for movies like “Skyfall” and artists like Taylor Swift.

Someone has finally called for Sony Corp. (NYSE: SNE) to rid itself of the one division it owns that has no relationship to consumer electronics. The company’s movie studio is a legacy from a time when Sony hoped to own content and the means by which it is delivered to people via consumer electronics. Other major studios are owned by large media conglomerates, which makes sense because of the huge stakes they have in programming. The idea that Sony should part with its studios is not new, but it may have renewed impetus. The New York Times reports on the call for Sony to break up:

An American hedge fund billionaire known for starting big fights has called for a breakup of the entertainment and electronic colossus Sony, according to people briefed on the matter, possibly setting off a battle that could roil Japan’s famously staid corporate culture.

The call, which came Tuesday, will most likely be viewed by government officials and corporate leaders in Tokyo as a shot across the bow from Wall Street, just as Western investors begin piling into Japanese stocks.

The hedge fund manager, Daniel S. Loeb, is pressing Sony into spinning off part of its entertainment arm, which includes one of the biggest film studios in Hollywood and one of the largest music labels in the world, responsible for movies like “Skyfall” and artists like Taylor Swift.

More Dreamliners Resume Flying

Boeing Co.’s (NYSE: BA) recovery continues from the battery fire debacle that involved its 787 Dreamliner. Several airlines that fly the plane have put it back into service now that it appears that the issue has been resolved. And the FAA has blessed the Boeing fix. But Boeing still may be liable for the losses some carriers had because the 787 had to be taken out of service. Fox Business says of the resumption of 787 Dreamliner flights:

State-run Air India Ltd will resume flying its Boeing Co 787 Dreamliner passenger jets from Wednesday, Civil Aviation Minister Ajit Singh said on Tuesday, almost four months after the planes were grounded due to safety concerns.

Air India has six Dreamliners and has ordered 21 more. The planes have been grounded worldwide since January following incidents of overheating in the batteries providing auxiliary power. Boeing has since worked to develop new battery housings to prevent a repeat of the incidents.

Air India will start a Dreamliner domestic flight on Wednesday and will start international flights on May 22, Singh told reporters, adding that all six of its Dreamliners would be ready for flying by the end of the month. Air India would also acquire eight more Dreamliners by December, he added.

European Energy Consumption

The European Union wants to know more about energy consumption, particularly as its affects individuals who live within the region. Energy costs have risen relentlessly for most of the past several years, so these costs likely hurt consumer spending. Bloomberg reports on the call for a study of energy costs:

European Union leaders will call for a study of energy prices and costs facing households and energy-intensive industries, according to draft conclusions of their May 22 summit.

“The impact of high energy prices and costs must be addressed,” according to the draft, dated May 13 and obtained by Bloomberg News. The draft says the European Commission will present their analysis of energy-price “composition and drivers” before the end of 2013 for talks in February 2014.

The 27-nation bloc’s leaders also will call for EU and national measures to boost financing opportunities throughout the economy, according to the draft. It specifies trying to make more use of the European Investment Bank, in particular for energy and resource-efficiency projects.

The AP says the U.S. Department of Justice took some of the data held by its reporters during seizures that occurred last year. (Reuters)

Barclays PLC (NYSE: BCS) gets a shareholder suit over LIBOR manipulation dismissed in the United States. (Reuters)

Carl Icahn and Southeastern name their director nominees for Dell Inc.’s (NASDAQ: DELL) board. (Reuters)

Sharp posts a record annual loss, again. (WSJ)

Walt Disney Co. (NYSE: DIS) and Twitter add to their marketing relationship. (WSJ)

Top financial officials of the European Union differ on whether they can create a regionwide banking alliance. (WSJ)

New Web browsers allow consumers to link access across many devices. (WSJ)

Activist investor Daniel S. Loeb wants Sony Corp. (NYSE: SNE) to spin off its entertainment division. (NYT)

More Bloomberg clients ask about reporter access to their trading data. (NYT)

The Commodity Futures Trading Commission investigates some energy and metal swaps. (FT)

An $11 billion bond offering by Petróleo Brasileiro S.A. (NYSE: PBR) sets a record for such transactions. (FT)

China and Japan move to take roles in the Arctic now that the polar ice cap has melted. (Bloomberg)

High revenue at Groupon Inc. (NASDAQ: GRPN) sends shares up by double digits. (Reuters)

Tesla Motors Inc.’s (NASDAQ: TSLA) first-quarter numbers are better than expected. (Reuters)

Pegatron, an Apple Inc. (NASDAQ: AAPL) supplier, boosts its workforce by 40% for the current quarter. (Reuters)

Smartphone sales are critical to the recovery of Sony Corp. (NYSE: SNE). (Reuters)

Sony’s profit is based on one-time sales of real estate and other assets. (WSJ)

Yields on junk bonds drop to near all-time lows. (WSJ)

McDonald’s Corp. (NYSE: MCD) and Wendy’s Co. (NASDAQ: WEN) begin a price war. (WSJ)

Coca-Cola Co. (NYSE: KO) launches more low-calorie drinks. (WSJ)

Activision Blizzard Inc. (NASDAQ: ATVI) says sales of World of Warcraft have slowed, which raises investor concerns. (WSJ)

Delta Air Lines Inc. (NYSE: DAL) announces a dividend and share buybacks — unusual in the struggling airline industry. (WSJ)

Costs to produce the Samsung Galaxy 4 will be helped by falling component prices. (WSJ)

J.P. Morgan Chase & Co. (NYSE: JPM) looks for directors with more risk management experience. (WSJ)

Groups opposed to the Keystone XL pipeline say President Obama must address other environmental problems if he approves its building. (NYT)

Vegetable prices cause much of China’s inflation in the past month. (FT)

Microsoft Corp. (NASDAQ: MSFT) names its first female chief financial officer. (Bloomberg)

The great bulk of earnings from other branded companies can only be questioned as to how strong their prosperity will be in the future. However, Tesla, Groupon and Sony cannot convince most of Wall Street that they can remain viable at all.

Among the three, the company least likely to continue to do well, or even survive, is Tesla. It bragged that it had produced 5,000 cars in the first quarter, a pitifully small number. Hours to build a car dropped 40% from December to March. However, Tesla’s revenue was only $562 million. Net income was only $11 million. Most worrisome of all, 12% of Tesla’s revenue came from selling zero-emission credits to other car companies. Tesla cannot count on this activity to drive its success. And, to further build cause for concern, the company will ship barely any more cars in the current quarter than in the first.

Tesla stands as an example of a novelty company that will lose its shine as soon as sales slip only slightly, undermined by either lack of demand or competition. Losses will trump novelty every time.

Groupon’s future should be no better than its past, based on financial results that stretch back two years. As business school professors say, it has no moat. Very unlike Tesla, it does not have a premium product, but a very ordinary one. Groupon’s challengers include much larger firms like Amazon.com Inc. (NASDAQ: AMZN) and Wal-Mart Stores Inc. (NYSE: WMT) that can marshal tens of millions of customers and exploit their balance sheets to push Groupon out of some lucrative markets. Groupon is supposed to be one of the fast-growing Web 2.0 public corporations. As such, its success derives from surging sales. Instead, its revenue rose only 8% quarter over previous year’s quarter, to $601 million. Groupon lost $4 million. Revenue in the current quarter is expected to be between $575 million and $625 million. Where is the success, or even reason for hope, in any of those numbers or trends?

The longest standing turnaround among this group is Sony, the company that was supposed to be the Apple Inc. (NASDAQ: AAPL) of the past decade but never came remotely close. Sony had no reason to trumpet its revenue, which rose 5% in the fiscal year that ended March 31, to $72.3 billion. Sony made $458 million for the year. Without the sales of some of its security assets, Sony would not have been profitable at all. Sales in gaming, one of its core divisions, dropped 12% to $7.5 billion. The positive results of its mobile division came almost entirely from its consolidation into Sony’s results for the first time.

Sony, Groupon and Tesla each posted results that were no better than mirages, if the results are supposed to be signs of improvement. Each has a bleak future and little chance of sustaining what is almost certainly temporary success, if it can be taken as any success at all.