Stocks slid once more, with Wall Street rocked by central bank action. The Fed? Heck no. Turkey, which blindsided investors with a 445-basis point interest rate increase. Thus did an apparently unending implosion in emerging markets again send the Dow
(INDEXDJX:.DJI) down by triple digits, simultaneously stealing Ben Bernanke's thunder on a day he chaired his final FOMC meeting. According to Time
magazine, blonde women are the only people on the planet capable of mindful meditation
. That is surely not the case, but Yahoo's
(NASDAQ:YHOO) suddenly unloved
platinum-tressed Marissa Mayer is certainly in need of some time to calmly chillax after her stock slid an S&P 500
(INDEXSP:.INX)-worst 8.71%. Meanwhile the Marlboro Man, although he would never do anything as sissy as yoga, feels her pain as his parent Altria Group
(NYSE:MO) gapped down 1.14% to a fresh 52-week low. And Anglo American
(OTCMKTS:AAUKF), which owns 85% of diamond giant De Beers, surged 8.04%. That's De Beers, not Da Bears. They remain sleeping
, but likely not for much longer if Wall Street continues its current slump.
Today in economics, December 2013 pending home sales are expected to post a decline at 10:00 a.m. Eastern. Expect earnings announcements out of Amazon
(NYSE:BX), and Chipotle Mexican Grill
(NYSE:CMG), among a multitude of others. Now let's turn to today's analyst downgrades, a group that includes McCormick & Company
(NASDAQ:CTXS): Citigroup cuts the company, whose shares are sliding some 7.20% as we speak, to Neutral from Buy. Its price objective, previously $70, gets slashed to $58.
(NYSE:EMC): Shares are now Neutral from Buy at Mizuho, which also trims its target price by $3 to $27. Rival VMware
(NYSE:VMW) is seen by the broker as having a more attractive current valuation.
(NYSE:HMY): JPMorgan cuts the commodity company to Neutral from Overweight.
McCormick & Company
: In emerging markets it's suddenly 1997 redux
, but even a pop group who peaked that year
would be powerless to save this spice, seasoning, and condiment company. The stock, which slid 6.21% yesterday, today gets downgraded to Hold from Buy at Deutsche Bank.
(NASDAQ:TSCO): TSCO is moved to Market Perform from Outperform at Raymond James.
(NYSE:WRB): Citing a steep valuation, Deutsche Bank slashes the stock to Sell from Hold.
New Stock Coverage: Time to Wake Up and Smell the Turkish Coffee on DreamWorks Animation?
Stock Upgrades: JetBlue Can Fly High
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.