With the Dow
(^DJI) now down in four of the past six weeks, DuPont's
(DD) 8.4% implosion made it easily the poorest performing blue chip. Its CEO Ellen Kullman will be currently crestfallen but as another Ellen
can attest, comedy = tragedy + time.
(MNST), down 14%, was a pre-Halloween horror story, and investors in mattress maker Tempur Pedic
(TPX) awoke with nightmares after its 23.3% tumble. Regis
(RGS), owner of Hair Club for men, fell 16.27% on Friday even as Greece apparently won’t get a debt haircut
. A chronic lack of apples adversely impacted phones as well as fruits
, with AT&T
(T) tumbling 2.0% after its earnings revealed severe supply shortages of the iPhone 5. Apple
(AAPL) itself lost 1.0% but another iconic American inventor
fared far better from beyond the grave.
Today in economics, analysts expect an increase in October’s Chicago Purchasing Managers Index at 9:45 a.m. Eastern. It’s another frenetic session for third quarter earnings announcements, with results expected out of Anheuser-Busch
(BCS), Deutsche Lufthansa
(GSK), MGM Resorts
(PC), and Time Warner Cable
(ADVS): Shares are moved to Market Perform from Outperform at JMP Securities.
(BIDU): The Chinese Internet firm gets slashed substantially, to Sell from Buy, at Citigroup.
Canadian National Railway
(CNI): Concerned about the company’s announcement of increased pension headwind expectations during 2013, FBR Capital cuts CNI to Market Perform from Outperform. The price objective is also reduced, to $94 from $110.
(CRNT): The stock gets downgraded to Hold from Buy at Canaccord Genuity.
Clean Energy Fuels
(CLNE): Shares are downgraded to Underweight from Neutral at Piper Jaffray, which also trims its target by $2.25 to $9.00. The cut comes after reduced revenue guidance from Westport Innovations
(WPRT), which blamed the “delayed availability of liquefied natural gas infrastructure.”
(EQT): EQT is taken to Market Perform from Outperform with Wells Fargo due to valuation issues.
Kaiser Federal Financial
(KFFG): Keefe Bruyette cuts the company to Market Perform from Outperform.
(PCS): PCS is moved to Hold from Buy with an $11 objective at Deutsche Bank, which views the prospect of a competitive bid from another national wireless carrier as unlikely.
Old National Bancorp
(ONB): The name is now Neutral From Buy at SunTrust Robinson Humphrey.
(OPNT): Shares are taken to Neutral from Buy at Sidoti, whose price objective is $43.
(RVBD): Jefferies reduces its recommendation to Underperform from Market Perform.
(SPNC): The stock is moved to Market Perform from Outperform by Barrington.
(UUGRY): Shares are lower in London this morning on the back of an unusual 180 degree (Underperform from Buy) ratings reduction at Bank of America-Merrill Lynch.
(NYSE:WU) The money-wiring outfit is moved to Market Perform from Outperform with Wells Fargo, Neutral from Buy at SunTrust, and Market Perform from Outperform at Raymond James. Concerns include a lack of earnings momentum.
(WY): McAdams Wright Ragen reduces the paper and forest products REIT to Sell from Hold.
(See also: New Stock Coverage: LifeLock Gets a Pick-Me-Up
and Stock Upgrades: Happy Headlines for News Corp
No positions in stocks mentioned.
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