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Stock Downgrades: Groupon Offers Up Another Daily Disaster


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

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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