Stock Downgrades: AMC Networks Is Dead Man Walking

By Justin Sharon  OCT 23, 2012 9:20 AM

Wall Street ratings agencies set the tone for today's stock market.

 


MINYANVILLE ORIGINAL A new a study showed retirement worries now peak among adults in their late 30s. Thirty-seven-year-old Marissa Mayer of Yahoo (YHOO) has no such concerns, her stock surging 3.74% before the bell after impressive earnings and an analyst upgrade.
 
PetMed (PETS) jumped 10.29% but it was a bad day for bunnies at both Annie’s Inc. (BNNY), down 3.35%, and Energizer (ENR), which tumbled 2.77%. Weight loss stock Vivus (VVUS) fell 5.44% while over at the House of Mouse they smell an overly skinny rat. And bookseller Barnes & Noble (BKS) lost 3.73% on the day Greg Smith, his 15 minutes of fame just extended by 45 minutes, published an anti-Goldman (GS) screed.
 
It’s a second successive day with no top-tier economic data due, but earnings season continues apace. Among those reporting results are ARM Holdings (ARMH), DuPont (DD), Facebook (FB), Harley-Davidson (HOG), 3M Co. (MMM), Norsk Hydro (NHYKF), United Parcel Service (UPS), and Xerox (XRX)
 
AMC Networks (NASDAQ:AMCX): The Walking Dead broadcaster is now Neutral from Overweight at JPMorgan.
 
Ancestry.com (ACOM): Shares, no longer trading on fundamentals following a buyout bid, are downgraded to Market Perform from Outperform at BMO Capital.
 
Ariad Pharmceuticals (ARIA): The name is now Perform from Outperform at Oppenheimer, which has a $23 price objective. The company’s potential treatment for CML (chronic myeloid leukemia) is seen as firmly embedded in the valuation.
 
Bank of Marin Bancorp (BMRC): BMRC is moved to Hold from Buy with Wunderlich.
 
CRH Plc. (CRH): CRH is cut to Neutral from Overweight at HSBC Securities.
 
Edison International (EIX): EIX is now Neutral from Buy at Goldman Sachs due to ongoing California regulatory risk.
 
MicroStrategy (MSTR): Shares are moved to Market Perform from Outperform at BMO Capital.
 
Monster Beverage (MNST): The stock, a poor performer on Monday, is pulled from the Conviction Buy list at Goldman.
 
Munich Re (MURGY): Shares are now Neutral from Outperform at Credit Suisse.
 
NetApp (NTAP): NTAP is now Neutral from Outperform at Robert W. Baird.
 
Omega Health (OHI): Shares are downgraded to Hold from Buy at Jefferies.
 
Overseas Shipholding (OSG): The name, down sharply yesterday, is now Neutral from Outperform at Credit Suisse. The target is slashed to $1 from $8.
 
Parker Hannifin (PH): Troubled by deteriorating demand, Argus takes the equity to Hold from Buy.
 
Peabody Energy (BTU): Shares are now Neutral from Buy at Goldman Sachs after a strong recent run.
 
Pinnacle West (PNW): Goldman Sachs slashes shares to Sell from Neutral.
 
SunTrust Banks (STI): STI gets taken to Neutral from Positive at Susquehanna.
 
Ventas (VTR): Jefferies cuts the company to Hold from Buy.

(See also: New Stock Coverage: Delta Flies High and Stock Upgrades: Yahoo Back on Track?)
No positions in stocks mentioned.

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