Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Stock Downgrades: Rocket Fuel Suffers Failure to Launch

By

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

PrintPRINT
Eons before his Oscar-winning "McConaissance," the suddenly resurgent actor Matthew McConaughey starred in a box office bomb called Failure to Launch. Today, Rocket Fuel (NASDAQ:FUEL) suffers a similar fate, with its stock currently crashing 30.35% after the company offered investors an earnings miss and distinctly cloudy outlook.
 
As we get set to honor all things maternal, Mr. Market finally acknowledged his brothers by another mother. Specifically, Super Mario and Lehman, with Dow Industrials (INDEXDJX:.DJI) being boosted by both dovish comments from Mr. Draghi and a 7.39% surge in Barclays (NYSE:BCS), which long ago acquired what was left of the cursed bank. CBS Corp (NYSE:CBS) reported earnings boosted by the boffo series finale of How I Met Your Mother, and Twenty-First Century Fox (NASDAQ:FOXA) jumped 6.54% after ditching its Dads. Rupert Murdoch, who remains a sugar daddy for the media firm, once famously took a pie in the eye. Here's hoping it wasn't one of the pastry offerings of culinary company Career Education Corp. (NASDAQ:CECO), which tumbled 26.27%. And Tesla Motors (NASDAQ:TSLA) imploded 11.30% to prove that, even for the miraculous Mr. Musk, into every life some rain must fall. Actually, scratch that, as his beloved SolarCity (NASDAQ:SCTY) simultaneously skyrocketed 12.35%.
 
Today's quarterly earnings announcements include Alcatel-Lucent (NYSE:ALU), Echostar (NASDAQ:SATS), Ralph Lauren (NYSE:RL), and Telefónica (NYSE:TEF).
 
Now let's look at this morning's rating reductions, an eclectic bunch that features both techs and biotechs, plus headline stock Rocket Fuel.

Ameren (NYSE:AEE): Morgan Stanley moves the stock to Equal-Weight from Overweight.
 
Chelsea Therapeutics (NASDAQ:CHTP): With valuation issues an understandable concern after yesterday's 31.60% surge, JMP Securities today slashes the biotech to Perform from Outperform.
 
Diamondback Energy (NASDAQ:FANG): Shares are now Neutral from Buy at Roth Capital.
 
Molycorp (NYSE:MCP): The stock, which imploded 18.46% to a new low on Thursday, was moved to Underweight from Neutral at JPMorgan.
 
RenaissanceRe (NYSE:RNR): UBS reduces RNR to Neutral from Buy.
 
Rocket Fuel: Today's headline stock gets downgraded to Perform from Outperform by BMO Capital and to Neutral from Americas Buy List at Goldman Sachs, which also slashes its price objective to $25 from $69.
 
Rolls-Royce (OTCMKTS:RYCEY): The stock is trading lower in London today on the back of a substantial downgrade (Underweight from Overweight) by Barclays, whose concerns include growth and margin issues.
 
Roundy's (NYSE:RNDY): Bank of America Merrill Lynch lowers the company to Neutral from Buy.
 
Southwest Gas (NYSE:SWX): Shares get downgraded to Hold from Buy amid a cold-weather-related construction site slowdown.
 
Teradata (NYSE:TDC): Stifel takes TDC to Hold from Buy after the tech company issued disappointing second-quarter earnings guidance.
 
Also see:

New Stock Coverage: Janitors' Kids Help New Oriental Education Clean Up

Stock Upgrades: Barclays Tops the Premier League
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.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE