Afternoon Market Update (F, ORCL, RIMM, FDX)

Shares of Ford Motor Co F gained about 5% after Barclays Capital upgraded the company from “equal weight” to “overweight.” Barclays has also lifted the price target from $15 to $16 per share. Analyst Brian Johnson said that the shares have "compelling upside value", as investors keep on questioning the market share potential of Ford in a recovering US economy. Technology stocks moved down, as the shares of Oracle Corp ORCL fell, ahead of its FQ1 results. The company is likely to report a healthy rise in sales and profit. However, the shares of Research In Motion RIMM gained about 1.9%, as the company is all set to report its latest quarter results. The Nasdaq Composite Index lost about 0.20%. Gold futures reached record highs, trading above the $1,275 an ounce level. Gold for December delivery gained 0.6% to $1,276.30 an ounce on the Comex division of the New York Mercantile Exchange (NYMEX). US stocks are trading lower, after FedEX Corp FDX issued weaker-than-expected projections for the full year. Read more from Benzinga's Markets.