Today's noteworthy upgrades include: Allianz (AZSEY) upgraded to Outperform from Sector Perform at RBC Capital... CyberArk (CYBR) upgraded to Overweight from Underweight at JPMorgan... Equity One (EQY) upgraded to Outperform from Market Perform at Wells Fargo... Hannover Re (HVRRY) upgraded to Sector Perform from Underperform at RBC Capital... J.C. Penney (JCP) upgraded to Neutral at Nomura... Kaman (KAMN) upgraded to Buy from Neutral at Longbow... Lendingtree (TREE) upgraded to Buy from Neutral at BofA/Merrill... Perrigo (PRGO) upgraded to Buy from Hold at Argus... Plains All American (PAA) upgraded to Outperform from Neutral at Baird... Repsol (REPYY) upgraded on valuation at BMO Capital... Toll Brothers (TOL) upgraded to Sector Perform from Underperform at RBC Capital.

Perrigo announced that pharmaceutical company Esteve Healthcare has signed a binding offer to acquire Perrigo's HRA Pharma Rare Diseases business for a total consideration of up to EUR 275M, consisting of an upfront cash payment of EUR 190M and up to EUR 85M in potential earnout payments based on the Rare Diseases business achieving certain sales milestones. Following the information and consultation process with HRA Pharma Works Council in France, Perrigo would be able to exercise the put option granted by Esteve and enter into a definitive agreement with Esteve for the sale of the Rare Diseases business. The proposed final transaction is expected to close during the third quarter of 2024, subject to the satisfaction of the HRA Works Council consultation and customary closing conditions, including receipt of regulatory approvals.

Kaman announced it delivered a new medium-to-heavy lift K-MAX(R) helicopter to Black Tusk Helicopter Inc. of Squamish, BC, Canada. Black Tusk performs various external lift projects of every scale, ranging from aerial timber harvesting, ski tower setting, firefighting, and hydroelectric projects.