Clothing company Urban Outfitters
(NASDAQ:URBN) may be a local yokel today after incurring a rating reduction. Shares are currently slipping before the bell on analyst concerns, including increasingly challenging same-store-sales comparisons in the Anthropologie and Free People segments, plus an endlessly-fickle teenage fashion environment.
Cradle and grave proved pretty profitable yesterday, what with Summer Infant
(NASDAQ:SUMR) surging 51.81% in a booming baby sector
and cemetery stock Carriage Services
(NYSE:CSV) jumping 5.44%. Alas, there were issues at the advanced end of the age spectrum as Fossil
(NASDAQ:FOSL) fell an S&P 500
(INDEXSP:.INX)-worst-10.27% and "The Gray Lady" New York Times
(NYSE:NYT) lost 4.40% as its Executive Editor beat a hasty retreat. Good gainers included L.A.'s Rubicon Project
(NYSE:RUBI), which rose 11.52% on dual broker boosts
. (I would say its check is in the mail but, then again, maybe not
.) Elsewhere, investors wrote a Dear John letter to John Deere
(NYSE:DE), sending its shares tumbling 2.04%. The bill has come due for the tractor titan, but it may not receive it for a wee while
if our Postal Service has anything to say about it.
Today in economics, the Philadelphia Fed Index for May is forecast to fall from the prior month's pace at 10:00 a.m. E.D.T. In earnings action, retailers are increasingly come to the fore, with JC Penney
(NYSE:JCP), Kohl's Corp
(NYSE:JWN), and Wal-Mart
(NYSE:WMT) all due to release results.
Now let's look at this morning's rating reductions, an eclectic bunch that features a diamond giant and aerospace outfit, plus headline stock Urban Outfitters.
(OTCMKTS:AAUKY): The company, which owns 85% of South African diamond cartel De Beers, is now Neutral from Outperform at Credit Suisse.
(NASDAQ:BEAV): Shares are now Neutral from Buy at UBS.
(NYSE:BMY): BMO Capital cuts the pharmaceutical firm to Market Perform from Outperform on account of disappointing data regarding one of the company's oncology drugs.
(NYSE:HII): Bank of America Merrill Lynch lowers its rating to Neutral from Buy.
(NYSE:O): The stocks gets raised to Neutral from Buy at Ladenburg Thalmann.
: FBR Capital takes today's headline downgrade to Perform from Market Perform. Its price objective, previously $44, falls to $37.
(NASDAQ:VOD): The telecom titan is trading lower in London today, this on the back of a Neutral-from-Buy rating reduction at Goldman Sachs. The analyst notes a lessened likelihood of Vodafone being bought.
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No positions in stocks mentioned.
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