Thank you very much;
you're only a step away from
downloading your reports.
Stock Downgrades: Another Kick in the Pants for Lululemon
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Yesterday an upstart yoga-apparel outfit announced big expansion plans, even as investors spent the entire session saying, "Yoga, schmoga" to longtime industry leader Lululemon Athletica (NASDAQ:LULU). Shares fell 15.91% to lows last seen in March 2011 amid uncertain second-quarter earnings prospects and an ongoing soap opera in the C-Suite. In reducing its rating this morning, analysts at Robert W. Baird warn of a "choppy transition year" ahead.
 
Remember that innocent age of, oh, 72 hours ago, back when Dow Industrials (INDEXDJX:.DJI) were racking up historic highs en route to five straight winning sessions? Those were the days, my friend. All of a sudden blue chips have dropped by triple-digits twice in quick succession, with oil skyrocketing and Iraq aflame. Still, cheer up -- today is not only a full moon, but Friday the 13th to boot. On an identical date that will long live in market infamy, October 1989, the S&P 500 (INDEXSP:.INX) skidded 6.12% amid a crisis at United Airlines. Yesterday Delta Air Lines (NYSE:DAL), which fell 5.43% on a petroleum price panic, was the benchmark bourse's single poorest performer. So no change there, then. Some stocks did buck a brutal tape. Pharmaceutical firm Novo Nordisk (NYSE:NVO), a pioneer in insulin pens, advanced 2.41% even as calorie king Paula Deen -- who once made the most preposterous possible spokesperson for its anti-diabetes drugs -- cooks up a comeback. And, on a day the World Cup kicked off in the world's largest coffee-producing country, with Christ the Redeemer gazing down from on high, coffee cups were on the money as Keurig Green Mountain (NASDAQ:GMCR) jumped an S&P 500-best 4.11%.
 
Today in economics, the University of Michigan's preliminary June consumer sentiment survey is expected to tick up from May's final figure at 9:55 a.m. Eastern.

Now let's look at this morning's rating reductions, an eclectic bunch featuring pawnbroker and petroleum plays plus headline stock Lululemon Athletica.

AptarGroup (NYSE:ATR): Bank of America Merrill Lynch lowers its rating to Underperform from Neutral.
 
Campus Crest Communities (NYSE:CCG): Shares are cut to Underperform from Neutral, again by Bank of America Merrill.
 
Cash America (NYSE:CSH): FBR Capital moves the stock to Market Perform from Outperform with a $46 target price due to upcoming earnings pressure.
 
Lululemon Athletica: Robert W. Baird reduces today's headline equity to Neutral from Outperform. Its price objective, previously $60, is slashed by $16.
 
Marathon Oil (NYSE:MRO): MRO gets moved to Market Perform from Outperform with Wells Fargo. Shares rose sharply in yesterday's terrible tape amid unrest in Iraq.
 
Marvell (NASDAQ:MRVL): The tech name is now Neutral from Positive at Susquehanna.
 
Scorpio Tankers (NYSE:STNG): DNB Markets takes the shipping stock to Sell from Hold.

Also see:

New Stock Coverage: With Iraq Aflame, Oil's Well at Occidental Petroleum

Stock Upgrades: World Cup a Messi Business? Adidas Can Clean Up
 
< 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.
Stock Downgrades: Another Kick in the Pants for Lululemon
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Yesterday an upstart yoga-apparel outfit announced big expansion plans, even as investors spent the entire session saying, "Yoga, schmoga" to longtime industry leader Lululemon Athletica (NASDAQ:LULU). Shares fell 15.91% to lows last seen in March 2011 amid uncertain second-quarter earnings prospects and an ongoing soap opera in the C-Suite. In reducing its rating this morning, analysts at Robert W. Baird warn of a "choppy transition year" ahead.
 
Remember that innocent age of, oh, 72 hours ago, back when Dow Industrials (INDEXDJX:.DJI) were racking up historic highs en route to five straight winning sessions? Those were the days, my friend. All of a sudden blue chips have dropped by triple-digits twice in quick succession, with oil skyrocketing and Iraq aflame. Still, cheer up -- today is not only a full moon, but Friday the 13th to boot. On an identical date that will long live in market infamy, October 1989, the S&P 500 (INDEXSP:.INX) skidded 6.12% amid a crisis at United Airlines. Yesterday Delta Air Lines (NYSE:DAL), which fell 5.43% on a petroleum price panic, was the benchmark bourse's single poorest performer. So no change there, then. Some stocks did buck a brutal tape. Pharmaceutical firm Novo Nordisk (NYSE:NVO), a pioneer in insulin pens, advanced 2.41% even as calorie king Paula Deen -- who once made the most preposterous possible spokesperson for its anti-diabetes drugs -- cooks up a comeback. And, on a day the World Cup kicked off in the world's largest coffee-producing country, with Christ the Redeemer gazing down from on high, coffee cups were on the money as Keurig Green Mountain (NASDAQ:GMCR) jumped an S&P 500-best 4.11%.
 
Today in economics, the University of Michigan's preliminary June consumer sentiment survey is expected to tick up from May's final figure at 9:55 a.m. Eastern.

Now let's look at this morning's rating reductions, an eclectic bunch featuring pawnbroker and petroleum plays plus headline stock Lululemon Athletica.

AptarGroup (NYSE:ATR): Bank of America Merrill Lynch lowers its rating to Underperform from Neutral.
 
Campus Crest Communities (NYSE:CCG): Shares are cut to Underperform from Neutral, again by Bank of America Merrill.
 
Cash America (NYSE:CSH): FBR Capital moves the stock to Market Perform from Outperform with a $46 target price due to upcoming earnings pressure.
 
Lululemon Athletica: Robert W. Baird reduces today's headline equity to Neutral from Outperform. Its price objective, previously $60, is slashed by $16.
 
Marathon Oil (NYSE:MRO): MRO gets moved to Market Perform from Outperform with Wells Fargo. Shares rose sharply in yesterday's terrible tape amid unrest in Iraq.
 
Marvell (NASDAQ:MRVL): The tech name is now Neutral from Positive at Susquehanna.
 
Scorpio Tankers (NYSE:STNG): DNB Markets takes the shipping stock to Sell from Hold.

Also see:

New Stock Coverage: With Iraq Aflame, Oil's Well at Occidental Petroleum

Stock Upgrades: World Cup a Messi Business? Adidas Can Clean Up
 
< 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.
Stock Downgrades: Another Kick in the Pants for Lululemon
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Yesterday an upstart yoga-apparel outfit announced big expansion plans, even as investors spent the entire session saying, "Yoga, schmoga" to longtime industry leader Lululemon Athletica (NASDAQ:LULU). Shares fell 15.91% to lows last seen in March 2011 amid uncertain second-quarter earnings prospects and an ongoing soap opera in the C-Suite. In reducing its rating this morning, analysts at Robert W. Baird warn of a "choppy transition year" ahead.
 
Remember that innocent age of, oh, 72 hours ago, back when Dow Industrials (INDEXDJX:.DJI) were racking up historic highs en route to five straight winning sessions? Those were the days, my friend. All of a sudden blue chips have dropped by triple-digits twice in quick succession, with oil skyrocketing and Iraq aflame. Still, cheer up -- today is not only a full moon, but Friday the 13th to boot. On an identical date that will long live in market infamy, October 1989, the S&P 500 (INDEXSP:.INX) skidded 6.12% amid a crisis at United Airlines. Yesterday Delta Air Lines (NYSE:DAL), which fell 5.43% on a petroleum price panic, was the benchmark bourse's single poorest performer. So no change there, then. Some stocks did buck a brutal tape. Pharmaceutical firm Novo Nordisk (NYSE:NVO), a pioneer in insulin pens, advanced 2.41% even as calorie king Paula Deen -- who once made the most preposterous possible spokesperson for its anti-diabetes drugs -- cooks up a comeback. And, on a day the World Cup kicked off in the world's largest coffee-producing country, with Christ the Redeemer gazing down from on high, coffee cups were on the money as Keurig Green Mountain (NASDAQ:GMCR) jumped an S&P 500-best 4.11%.
 
Today in economics, the University of Michigan's preliminary June consumer sentiment survey is expected to tick up from May's final figure at 9:55 a.m. Eastern.

Now let's look at this morning's rating reductions, an eclectic bunch featuring pawnbroker and petroleum plays plus headline stock Lululemon Athletica.

AptarGroup (NYSE:ATR): Bank of America Merrill Lynch lowers its rating to Underperform from Neutral.
 
Campus Crest Communities (NYSE:CCG): Shares are cut to Underperform from Neutral, again by Bank of America Merrill.
 
Cash America (NYSE:CSH): FBR Capital moves the stock to Market Perform from Outperform with a $46 target price due to upcoming earnings pressure.
 
Lululemon Athletica: Robert W. Baird reduces today's headline equity to Neutral from Outperform. Its price objective, previously $60, is slashed by $16.
 
Marathon Oil (NYSE:MRO): MRO gets moved to Market Perform from Outperform with Wells Fargo. Shares rose sharply in yesterday's terrible tape amid unrest in Iraq.
 
Marvell (NASDAQ:MRVL): The tech name is now Neutral from Positive at Susquehanna.
 
Scorpio Tankers (NYSE:STNG): DNB Markets takes the shipping stock to Sell from Hold.

Also see:

New Stock Coverage: With Iraq Aflame, Oil's Well at Occidental Petroleum

Stock Upgrades: World Cup a Messi Business? Adidas Can Clean Up
 
< 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.
EDITOR'S PICKS
 
WHAT'S POPULAR