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: ARM Gets Thumbs Down in Apple Fallout


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

Vinyl is back and so, apparently, are broken records. The S&P 500 Index (INDEXSP:.INX) set its 30th record of 2013 as a soft September payroll report calmed investors' fears about an abrupt end to quantitative easing. CVS Caremark (NYSE:CVS), up 1.66% yesterday, was among the equities to hit historic highs. (You can keep the ridiculous receipt.) Netflix (NASDAQ:NFLX) nosedived 9.15% despite both a broker boost and roster of stars including Kevin Spacey of Pay It Forward fame. Such preemptive acts of kindness did, however, amply pay for themselves with Odyssey Marine Exploration (NASDAQ:OMEX). The company, which paid back the Spanish Armada for plundering its treasure, jumped 11.41% even as Spain's pain is now officially over. And, with the One World Trade Center spire again in the news, today marks the 84th anniversary of the Chrysler Building's completion. You don't want to know what happened 24 hours later.

Hump Day of peak week for third quarter earnings is here, with AT&T Inc. (NYSE:T), Boeing (NYSE:BA), Caterpillar (NYSE:CAT), F5 Networks (NASDAQ:FFIV), GlaxoSmithKline (NYSE:GSK), and WellPoint (NYSE:WLP) among a multitude of companies releasing results.

American Campus Communities (NYSE:ACC): UBS takes the company to Neutral from Buy.

ARM Holdings (NASDAQ:ARMH): After yesterday's ho-hum Apple Inc. (NASDAQ:AAPL) announcements, one of its key chip suppliers gets cut to Neutral from Buy at UBS.

Broadcom (NASDAQ:BRCM): Wedbush takes the tech name, slumping before the bell, to Neutral from Outperform.

Centene (NYSE:CNC): Shares get slashed to Sell from Neutral at Citigroup.

Coach (NYSE:COH): The stock, which tumbled 7.53% on Tuesday, is downgraded to Hold from Buy at Argus.

Cree Inc. (NASDAQ:CREE): Needham lowers the lighting name to Hold from Buy.

Eagle Bancorp (NASDAQ:EGBN): Keefe Bruyette cuts the company to Perform from Outperform.

Exelon (NYSE:EXC): The nuclear power play is now Underperform from Hold at Jefferies.

Federated Investors (NYSE:FII): Money manager FII gets trimmed to Neutral from Buy at Citigroup.

Goldman Sachs (NYSE:GS): GS gets downgraded to Underperform from Neutral at Mediobanca.

Matador Resources (NYSE:MTDR): Canaccord Genuity moves the stock to Hold from Buy.

Monarch Casino & Resort (NASDAQ:MCRI): Shares get downgraded to Hold from Buy at Brean Capital.

National Cinemedia (NASDAQ:NCMI): JPMorgan lowers its investment assessment to Neutral from Overweight.

Panera Bread (NASDAQ:PNRA): The fast food firm is taken to Hold from Buy at KeyBanc Capital.

Royal Bank of Scotland (NYSE:RBS): Keefe Bruyette reduces the Edinburgh-based financial company to Underperform from Perform.

Weight Watchers (NYSE:WTW): Credit Suisse cuts the company to Neutral from Outperform.

(See also: New Stock Coverage: Mel Karmazin Worth $255.4 Million a Year? You Cannot Be Sirius and Stock Upgrades: Who Needs an iWatch When There's Fossil?)
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.
Featured Videos