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Stock Downgrades: Groupon Offers Up Another Daily Disaster

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

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MINYANVILLE ORIGINAL Krispy Kreme Doughnuts (KKD), whose products are so popular with Homer Simpson, cratered 8.29% but the fortunes of his boss Mr. Burns took a quick turn for the better after his man Mitt lost on Tuesday. The atomic power plant owner saw nuclear power play Exelon (EXC) advance 0.80% on an otherwise dire day after an analyst upgrade.

Firearms stock Smith & Wesson (SWHC) gained another 2.32%, continuing its strong post-election showing. Meanwhile Michelle Obama and her fabulous arms bid farewell to designated designer Michael Kors (KORS), its shares getting the cold shoulder as it slid 7.16%.

Today in economics, September wholesale trade is expected to tick up 0.4% at 10:00 a.m. Eastern. In earnings activity, Apollo Global Management (APO), Covidien (COV), Crédit Agricole (CRARY), and J.C. Penney (JCP) are all due to release results.

Allscripts-Misys Healthcare (MDRX): MDRX is moved to Underweight from Equal Weight with Piper Jaffray.

Copa Holdings (CPA): Deutsche Bank downgrades the stock to Hold from Buy.

Cisco Systems (NASDAQ:CSCO): JPMorgan cuts the key Dow (^DJI) component, whose 2.21% tumble yesterday made it the poorest performing blue chip, to Neutral from Overweight as it expects 2013 to be a difficult year given persistent weakness in enterprise. The price objective is also cut, to $17 from $21.

Citrix Systems (CTXS): Shares get downgraded to Equal Weight from Overweight at Barclays.

DTS Inc. (DTSI): The stock is downgraded to Underweight from Equal Weight at Piper Jaffray.

Groupon (NASDAQ:GRPN): The coupon-clipping daily deals website, gapping down 16.58% to lifetime lows before the bell, is cut to Market Perform from Outperform by Barrington and to Equal-Weight from Overweight at Morgan Stanley.

Kayak (KYAK): Shares, up 25.6% ahead of the open after being bought by Priceline (PCLN) for $1.8 billion or $40 per share, are cut to Hold from Buy at Deutsche Bank.

NII Holdings (NIHD): The stock is downgraded to Sell from Hold at Citigroup.

PC Mall (MALL): MALL is moved to Market Perform from Outperform at Raymond James.

Time Warner Cable (TWC): TWC is taken to Hold from Buy at Stifel Nicolaus due to valuation concerns.

Tim Hortons (THI): Shares are downgraded to Market Perform from Outperform by BMO Capital.

Walt Disney (NYSE:DIS): Janney Montgomery Scott moves the Dow (^DJI) member, upgraded at Argus on Monday, to Neutral from Buy after last night's earnings announcement revealed a revenue miss.

(See also Stock Upgrades: 3M Is in the Money, Money, Money and New Stock Coverage: Forest Labs Looks Like a Money Tree.)
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No positions in stocks mentioned.
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