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Stock Downgrades: DuPont Losing Its Teflon Touch


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

MINYANVILLE ORIGINAL Apple (AAPL) sank 4.5% and is now down for six successive weeks. The Cupertino company clearly suffered a Halloween horror show last week, although help may be at hand from one of the Munsters. Microsoft (MSFT) and Nokia (NOK) each launched sexy new smartphones, but neither proved as popular as antique payphones.

It was a long day at Knight Capital (KCG) where the knives were again out, and Groupon (GRPN) continued to speak with forked tongues, falling 14.3% after announcing an extraordinarily ill-timed Dinner in the Dark.

Today in economics, October's Institute for Supply Management services index is out at 10:00 a.m. Eastern. On the corporate front, quarterly earnings are expected out of Consolidated Edison (ED), Humana (HUM), IntercontinentalExchange (ICE), Sysco (SYY), Time Warner Cable (TWC), Toyota Motor (TM), Transocean (RIG), and Zillow (Z).

Alcatel-Lucent (ALU): ALU is downgraded to Underperform from Market Perform by Sanford Bernstein.

Dolby Laboratories (DLB): DLB is downgraded to Underperform from Market Perform at JMP Securities due to high Street expectations. The target is $26.

DuPont (NYSE:DD): The Dow (^DJI) member is now Neutral from Overweight at Piper Jaffray, whose target is taken to $51 from $53.

Exelon (EXC): EXC is downgraded to Hold from Buy at Argus amid concerns over its dividend.

Juniper Networks (JNPR): Shares are downgraded to Sector Perform from Outperform at Pacific Crest.

NTT DoCoMo (DCM): Shares are now Neutral from Overweight at JPMorgan.

Penn West Petroleum (PWE): The stock is downgraded to Hold from Buy at Canaccord due to the Q3 production miss.

Zumiez (ZUMZ): Shares are now Neutral from Buy at JPMorgan.

(See also: Stock Upgrades: The Force Is With Walt Disney and New Stock Coverage: UnitedHealth Passes Checkup With Flying Colors.)
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