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Wall Street jumps after move on Fannie, Freddie (Reuters)

U.S. stocks opened sharply higher on Monday after the government's takeover of troubled mortgage financiers Fannie Mae and Freddie Mac raised hopes of a recovery in the U.S. housing market, sparking a global equity rally.

Ahead of the Bell: Fannie Mae and Freddie Mac (AP)

Analysts expect Freddie Mac and Fannie Mae to trade as penny stocks after the U.S. government seized control of the mortgage giants that crumbled under the weight of bad home loans.

Ahead of the Bell: Research In Motion shares rise (AP)

A Wall Street analyst on Monday upgraded Research In Motion Ltd., the maker of the BlackBerry, saying a recent decline in the share price ahead of a new raft of new devices makes the stock "attractively valued."

Ahead of the Bell: Airlines outlook (AP)

A Calyon Securities analyst said Monday the worst is over for the airlines, unless oil prices sharply rebound or the economy falls into a deep recession.

Premarket roundup: Mohawk Industries, PHH (AP)

An analyst downgraded shares of carpet and flooring maker Mohawk Industries Inc. on its exposure to weakening U.S. nonresidential and European markets and the stock's summer surge.

Ahead of the Bell: Analysts upgrade regional banks (AP)

The seizure of Freddie Mac and Fannie Mae is good news for bank stocks, particularly those with exposure to the housing market, analysts said Monday, upgrading shares of several regional banks.

Ahead of the Bell: Nalco upgraded by Goldman Sachs (AP)

A Goldman Sachs analyst upgraded waste and water treatment company Nalco Holding Co. Monday, saying its value proposition appears more positive.

Ahead of the Bell: Prudential upgraded, shares up (AP)

A Friedman, Billings, Ramsey & Co. analyst upgraded his rating on shares of insurer Prudential Financial Inc. on Monday, citing benefits of the government's decision to aide Fannie Mae Freddie Mac.

Ahead of the Bell: Mohawk Industries downgraded (AP)

An analyst downgraded shares of carpet and flooring maker Mohawk Industries Inc. on its exposure to weakening U.S. nonresidential and European markets and the stock's summer surge.

Ahead of the Bell: PHH upgraded by FBR (AP)

A Friedman Billings Ramsey analyst upgraded mortgage originator and fleet management company PHH Corp. Monday, predicting lower mortgage rates, more mortgage market liquidity, and the potential for greater refinancing activity following the government bailout of mortgage giants Fannie Mae and Freddie Mac.

Ahead of the Bell: Analyst upgrades Transocean (AP)

A Deutsche Bank analyst upgraded shares of Transocean Inc. to "Hold" from "Sell" Monday, noting a recent pullback in shares that may provide a good entry point.

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