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Stock Downgrades: Aeropostale Investors Are About to Lose Their Shirts, 1987 Style
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Shares of adolescent clothing company Aéropostale (NYSE:ARO), whose shirts ill-advisedly honor Wall Street's worst-ever year, are falling 14.82% before the bell. The retailer reported a worse-than-anticipated first-quarter loss, and today an analyst cautions that an expected turnaround is taking considerably longer than expected to materialize.
 
The Dow (INDEXDJX:.DJI), though it did end up, barely budged amid anemic pre-vacation volume. Indeed, major averages are set for smallest month-of-May movement since 1987. (If you don't want to be reminded of the storm that followed five months after that eerie calm, look away now.) 1987 was, of course, a tale of two Tiffanys (NYSE:TIF), with Ms. Darwish releasing her eponymous album but one month before the crash in the same fateful year that the bling king went public. The upscale retailer has aged a bit better than the former teen queen, to judge by a two-session advance that saw it rise 9.41% to historic highs. A broker boost sent Verizon (NYSE:VZ) up 0.47%. Today the telecom titan shockingly advertises itself on the front cover of a Time magazine issue about preemies. Hewlett-Packard (NYSE:HPQ), which tumbled 2.28% after inadvertently releasing its results early, knows all about the perils of being premature.
 
Today in economics, an uptick is expected in April new home sales at 10:00 a.m. EDT. On the earnings front, Foot Locker (NYSE:FL) and Hibbett Sporting Goods (NASDAQ:HIBB) each released earlier this morning. On Monday, US markets are closed for Memorial Day.
 
Now let's turn to this morning's rating reductions, a list that includes food and financial firms in addition to Aéropostale.

Aéropostale: Shares are slashed to Sector Perform from Outperform at RBC Capital. Its price objective is also cut considerably, by $8 to $6.
 
AFLAC (NYSE:AFL): The stock gets downgraded to Equal Weight from Overweight by Barclays.
 
Amira Nature Foods (NYSE:ANFI): Jefferies reduces its rating to Hold from Buy.
 
Covisint (NASDAQ:COVS): COVS is cut to Sector Perform from Outperform at Pacific Crest.
 
Hain Celestial (NASDAQ:HAIN): Citing a steep valuation, Jefferies cuts its recommendation to Hold from Buy.
 
Orange (NYSE:ORAN): Societe Generale slashes its fellow French company to Hold from Buy.
 
Prudential Plc (NYSE:PUK): Goldman Sachs pulls the British financial firm -- not to be confused with America's Prudential Financial (NYSE:PRU) -- from its Buy list.
 
Remy Cointreau (OTCMKTS:REMYF): The cognac king is now Neutral from Overweight at HSBC Securities.
 
RetailMeNot (NASDAQ:SALE): Shares are taken to Hold from Buy at Stifel after Google's (NASDAQ:GOOG) search algorithm update, Panda 4.0, resulted in lower traffic to RetailMeNot's site.

Also see:

New Stock Coverage: Bank of New York Mellon Addressed for Success?

Stock Upgrades: L Brands Is Too Good to be Kept a Victoria's Secret
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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.
Stock Downgrades: Aeropostale Investors Are About to Lose Their Shirts, 1987 Style
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Shares of adolescent clothing company Aéropostale (NYSE:ARO), whose shirts ill-advisedly honor Wall Street's worst-ever year, are falling 14.82% before the bell. The retailer reported a worse-than-anticipated first-quarter loss, and today an analyst cautions that an expected turnaround is taking considerably longer than expected to materialize.
 
The Dow (INDEXDJX:.DJI), though it did end up, barely budged amid anemic pre-vacation volume. Indeed, major averages are set for smallest month-of-May movement since 1987. (If you don't want to be reminded of the storm that followed five months after that eerie calm, look away now.) 1987 was, of course, a tale of two Tiffanys (NYSE:TIF), with Ms. Darwish releasing her eponymous album but one month before the crash in the same fateful year that the bling king went public. The upscale retailer has aged a bit better than the former teen queen, to judge by a two-session advance that saw it rise 9.41% to historic highs. A broker boost sent Verizon (NYSE:VZ) up 0.47%. Today the telecom titan shockingly advertises itself on the front cover of a Time magazine issue about preemies. Hewlett-Packard (NYSE:HPQ), which tumbled 2.28% after inadvertently releasing its results early, knows all about the perils of being premature.
 
Today in economics, an uptick is expected in April new home sales at 10:00 a.m. EDT. On the earnings front, Foot Locker (NYSE:FL) and Hibbett Sporting Goods (NASDAQ:HIBB) each released earlier this morning. On Monday, US markets are closed for Memorial Day.
 
Now let's turn to this morning's rating reductions, a list that includes food and financial firms in addition to Aéropostale.

Aéropostale: Shares are slashed to Sector Perform from Outperform at RBC Capital. Its price objective is also cut considerably, by $8 to $6.
 
AFLAC (NYSE:AFL): The stock gets downgraded to Equal Weight from Overweight by Barclays.
 
Amira Nature Foods (NYSE:ANFI): Jefferies reduces its rating to Hold from Buy.
 
Covisint (NASDAQ:COVS): COVS is cut to Sector Perform from Outperform at Pacific Crest.
 
Hain Celestial (NASDAQ:HAIN): Citing a steep valuation, Jefferies cuts its recommendation to Hold from Buy.
 
Orange (NYSE:ORAN): Societe Generale slashes its fellow French company to Hold from Buy.
 
Prudential Plc (NYSE:PUK): Goldman Sachs pulls the British financial firm -- not to be confused with America's Prudential Financial (NYSE:PRU) -- from its Buy list.
 
Remy Cointreau (OTCMKTS:REMYF): The cognac king is now Neutral from Overweight at HSBC Securities.
 
RetailMeNot (NASDAQ:SALE): Shares are taken to Hold from Buy at Stifel after Google's (NASDAQ:GOOG) search algorithm update, Panda 4.0, resulted in lower traffic to RetailMeNot's site.

Also see:

New Stock Coverage: Bank of New York Mellon Addressed for Success?

Stock Upgrades: L Brands Is Too Good to be Kept a Victoria's Secret
< Previous
  • 1
Next >
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.
Daily Recap
Stock Downgrades: Aeropostale Investors Are About to Lose Their Shirts, 1987 Style
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Shares of adolescent clothing company Aéropostale (NYSE:ARO), whose shirts ill-advisedly honor Wall Street's worst-ever year, are falling 14.82% before the bell. The retailer reported a worse-than-anticipated first-quarter loss, and today an analyst cautions that an expected turnaround is taking considerably longer than expected to materialize.
 
The Dow (INDEXDJX:.DJI), though it did end up, barely budged amid anemic pre-vacation volume. Indeed, major averages are set for smallest month-of-May movement since 1987. (If you don't want to be reminded of the storm that followed five months after that eerie calm, look away now.) 1987 was, of course, a tale of two Tiffanys (NYSE:TIF), with Ms. Darwish releasing her eponymous album but one month before the crash in the same fateful year that the bling king went public. The upscale retailer has aged a bit better than the former teen queen, to judge by a two-session advance that saw it rise 9.41% to historic highs. A broker boost sent Verizon (NYSE:VZ) up 0.47%. Today the telecom titan shockingly advertises itself on the front cover of a Time magazine issue about preemies. Hewlett-Packard (NYSE:HPQ), which tumbled 2.28% after inadvertently releasing its results early, knows all about the perils of being premature.
 
Today in economics, an uptick is expected in April new home sales at 10:00 a.m. EDT. On the earnings front, Foot Locker (NYSE:FL) and Hibbett Sporting Goods (NASDAQ:HIBB) each released earlier this morning. On Monday, US markets are closed for Memorial Day.
 
Now let's turn to this morning's rating reductions, a list that includes food and financial firms in addition to Aéropostale.

Aéropostale: Shares are slashed to Sector Perform from Outperform at RBC Capital. Its price objective is also cut considerably, by $8 to $6.
 
AFLAC (NYSE:AFL): The stock gets downgraded to Equal Weight from Overweight by Barclays.
 
Amira Nature Foods (NYSE:ANFI): Jefferies reduces its rating to Hold from Buy.
 
Covisint (NASDAQ:COVS): COVS is cut to Sector Perform from Outperform at Pacific Crest.
 
Hain Celestial (NASDAQ:HAIN): Citing a steep valuation, Jefferies cuts its recommendation to Hold from Buy.
 
Orange (NYSE:ORAN): Societe Generale slashes its fellow French company to Hold from Buy.
 
Prudential Plc (NYSE:PUK): Goldman Sachs pulls the British financial firm -- not to be confused with America's Prudential Financial (NYSE:PRU) -- from its Buy list.
 
Remy Cointreau (OTCMKTS:REMYF): The cognac king is now Neutral from Overweight at HSBC Securities.
 
RetailMeNot (NASDAQ:SALE): Shares are taken to Hold from Buy at Stifel after Google's (NASDAQ:GOOG) search algorithm update, Panda 4.0, resulted in lower traffic to RetailMeNot's site.

Also see:

New Stock Coverage: Bank of New York Mellon Addressed for Success?

Stock Upgrades: L Brands Is Too Good to be Kept a Victoria's Secret
< Previous
  • 1
Next >
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.
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