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Stock Downgrades: Hanging Up on Ericsson

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

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MINYANVILLE ORIGINAL Facebook (FB) fell a further 1.24% and has now lost about half its value since going public in May. Bummer, but at least Zuck can claim to be a fashion trendsetter for the Queen of England. Ketchup king HJ Heinz (HNZ), which rose 1.68% to an historic high on Tuesday in anticipation of earnings, tumbled 2.25% on Wednesday when those earnings were announced. Buy the rumor, sell the news - guys, it ain't rocket science.Stamps.com (STMP) slumped 5.11%, investors apparently opting not to trust the mail. An old-fashioned message in a bottle provides a less expensive alternative, and arriving after 98 years, can boast a turnaround time that compares favorably to anything the Postal Service is able to offer.

Today's earnings announcements are expected to include Bio-Reference Labs (BRLI), Ciena (CIEN), Gazprom (OGZPY), Methode Electronics (MEI), OmniVision Technologies (OVTI), Pernod Ricard (PDRDY), Splunk (SPLK), Gordmans Stores (GMAN), Vivendi (VIVHY), WPP Plc (WPPGY), and Zumiez (ZUMZ).

Angie's List (ANGI): The company is downgraded to Hold from Buy at Canaccord, which also takes its target price to $12.50 from $20.

Cadence Pharmaceuticals (CADX) Shares are moved to Market Perform from Outperform at Leerink amid patent trial concerns.

Coventry Health Care (CVH): Shares are downgraded to Neutral from Outperform at Credit Suisse as they are no longer trading on fundamentals following this week's acquisition offer from Aetna (AET).

Ericsson (ERIC): Credit Suisse takes the Swedish telecom titan to Underperform from Neutral.

Humana (HUM): HUM is now Neutral from Outperform at Credit Suisse due to higher costs trends in its Medicare Advantage business.

IntercontinentalExchange (ICE): ICE is downgraded to Outperform from Strong Buy at Raymond James.

KLA-Tencor (KLAC): KLAC gets cut to Neutral from Positive at Susquehanna on account of slower industry spending growth. The target price is cut by $10 to $52. Shares are lower before the opening bell as a result.

Louisiana-Pacific (LPX): LPX, upgraded elsewhere this morning, is downgraded to Hold from Buy at Deutsche Bank.

Nexen (NXY): NXY is now Equal Weight from Overweight at Barclays.

Oiltanking Partners (OILT): Bank of America-Merrill moves the equity to Neutral from Buy.

Triple-S Management (GTS): GTS gets downgraded to Neutral from Outperform at Credit Suisse.

Yingli Green Energy (YGE): Shares are slashed to Sell from Hold at ThinkEquity.

(See also: Stock Upgrades: Pandora Out of the Penalty Box and New Stock Coverage: Magnum Hunter Looks Like a Long Shot.)

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.

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