Thank you very much;
you're only a step away from
downloading your reports.
Stock Downgrades: Blame It on Rio -- Brazil's Vale Gets No World Cup Boost
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Even as the fútbol-crazed land of Carnival prepares to party, the festivities are over for Rio de Janeiro's iron ore giant Vale S.A. (NYSE:VALE). Shares are off sharply before the bell, with China's economic slowdown having negatively impacted commodity prices while the oversupply situation remains dire.
 
A Ghanaian witch doctor called the "Devil of Wednesday" recently claimed to have put a hex on the planet's best player on the very eve of an eagerly-awaited World Cup. He certainly spooked equities yesterday, with the Dow (INDEXDJX:.DJI) and S&P 500 (INDEXSP:.INX) each enduring their poorest performance in weeks. (Camel owner Reynolds American (NYSE:RAI) did its best to boost Hump Day, rising 0.59% on an analyst upgrade but, alas, all to no avail.) Some stocks did buck a triple-digit blue chip decline. Merck (NYSE:MRK) ended up 0.55% to best all blue chips. In the World Cup year of 2002, the company was memorably given three separate ratings in a single morning by Merrill Lynch. Yesterday the same Bank of America (NYSE:BAC) unit did 180 degree Buy-from-Sell U-turns on a remarkable three different stocks. Take your pick: Micron (NASDAQ:MU), up an S&P 500 (INDEXSP:.INX)-best 5.02%, SanDisk (NASDAQ:SNDK), a 2.09% gainer, and strong>Molson Coors (NYSE:TAP) which rose 1.92% to a historic high, all got a kick out of the flip-flops.
 
Today in economics, April business inventories are forecast to come in essentially unchanged from the prior month's pace at 10:00 a.m. EDT. On the earnings front, Finisar (NASDAQ:FNSR), Lands' End (NASDAQ:LE), and Lululemon Athletica (NASDAQ:LULU) all release results.
 
Now let's look at this morning's rating reductions, an eclectic bunch that features both a French airline and Scandinavian energy giant, in addition to headline stock Vale S.A..
Air France-KLM (OTCMKTS:AFLYY) The carrier, whose infamously iffy on-time arrival record has earned it the moniker "Air Chance", gets downgraded to Underperform from Hold at Jefferies.
 
Anglo American (OTCMKTS:AAUKY): The commodity company, which owns 85% of South African diamond giant De Beers, is falling sharply in overseas trading today. This, after Morgan Stanley moved the miner to Underweight from Equal Weight.
 
AXIS Capital (NYSE:AXS): Goldman Sachs slashes the stock to Sell from Neutral.
 
Chesapeake Lodging Trust (NYSE:CHSP): Shares are cut to Perform from Outperform with a $30 price objective at FBR Capital, primarily due to valuation concerns.
 
Hawaiian Holdings (NASDAQ:HA): The airline outfit is taken to In-line from Outperform at Imperial Capital, whose target price is $16
 
Lufthansa: Credit Suisse cuts the trouble German airline titan to Neutral from Outperform.
 
Vale S.A.: Today's headline downgrade gets moved to Equal-Weight from Overweight at Morgan Stanley.
 
Rose Rock Midstream (NYSE:RRMS): Robert W Baird lowers the limited partnership to Neutral from Outperform.
 
Royal Bank of Scotland (NYSE:RBS): RBS gets reduced to Sell from Hold at Investec.
 
Springleaf Holdings (NYSE:LEAF): Shares are now Neutral from Buy at Sterne Agee.
 
Statoil (NYSE:STO): Deutsche Bank downgrades the Norwegian oil and gas outfit to Hold from Buy.
 
Theravance (NASDAQ:THRX): The stock gets clipped to Hold from Buy at Stifel, which says present prescription sales trends for Breo do not suggest immediate upside from current levels.

Also see:

New Stock Coverage: Sports Store Cabela's Set to Score as World Cup Starts?

Stock Upgrades: Soccer Sponsor Hewlett-Packard Kicks Off World Cup in Style
< 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: Blame It on Rio -- Brazil's Vale Gets No World Cup Boost
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Even as the fútbol-crazed land of Carnival prepares to party, the festivities are over for Rio de Janeiro's iron ore giant Vale S.A. (NYSE:VALE). Shares are off sharply before the bell, with China's economic slowdown having negatively impacted commodity prices while the oversupply situation remains dire.
 
A Ghanaian witch doctor called the "Devil of Wednesday" recently claimed to have put a hex on the planet's best player on the very eve of an eagerly-awaited World Cup. He certainly spooked equities yesterday, with the Dow (INDEXDJX:.DJI) and S&P 500 (INDEXSP:.INX) each enduring their poorest performance in weeks. (Camel owner Reynolds American (NYSE:RAI) did its best to boost Hump Day, rising 0.59% on an analyst upgrade but, alas, all to no avail.) Some stocks did buck a triple-digit blue chip decline. Merck (NYSE:MRK) ended up 0.55% to best all blue chips. In the World Cup year of 2002, the company was memorably given three separate ratings in a single morning by Merrill Lynch. Yesterday the same Bank of America (NYSE:BAC) unit did 180 degree Buy-from-Sell U-turns on a remarkable three different stocks. Take your pick: Micron (NASDAQ:MU), up an S&P 500 (INDEXSP:.INX)-best 5.02%, SanDisk (NASDAQ:SNDK), a 2.09% gainer, and strong>Molson Coors (NYSE:TAP) which rose 1.92% to a historic high, all got a kick out of the flip-flops.
 
Today in economics, April business inventories are forecast to come in essentially unchanged from the prior month's pace at 10:00 a.m. EDT. On the earnings front, Finisar (NASDAQ:FNSR), Lands' End (NASDAQ:LE), and Lululemon Athletica (NASDAQ:LULU) all release results.
 
Now let's look at this morning's rating reductions, an eclectic bunch that features both a French airline and Scandinavian energy giant, in addition to headline stock Vale S.A..
Air France-KLM (OTCMKTS:AFLYY) The carrier, whose infamously iffy on-time arrival record has earned it the moniker "Air Chance", gets downgraded to Underperform from Hold at Jefferies.
 
Anglo American (OTCMKTS:AAUKY): The commodity company, which owns 85% of South African diamond giant De Beers, is falling sharply in overseas trading today. This, after Morgan Stanley moved the miner to Underweight from Equal Weight.
 
AXIS Capital (NYSE:AXS): Goldman Sachs slashes the stock to Sell from Neutral.
 
Chesapeake Lodging Trust (NYSE:CHSP): Shares are cut to Perform from Outperform with a $30 price objective at FBR Capital, primarily due to valuation concerns.
 
Hawaiian Holdings (NASDAQ:HA): The airline outfit is taken to In-line from Outperform at Imperial Capital, whose target price is $16
 
Lufthansa: Credit Suisse cuts the trouble German airline titan to Neutral from Outperform.
 
Vale S.A.: Today's headline downgrade gets moved to Equal-Weight from Overweight at Morgan Stanley.
 
Rose Rock Midstream (NYSE:RRMS): Robert W Baird lowers the limited partnership to Neutral from Outperform.
 
Royal Bank of Scotland (NYSE:RBS): RBS gets reduced to Sell from Hold at Investec.
 
Springleaf Holdings (NYSE:LEAF): Shares are now Neutral from Buy at Sterne Agee.
 
Statoil (NYSE:STO): Deutsche Bank downgrades the Norwegian oil and gas outfit to Hold from Buy.
 
Theravance (NASDAQ:THRX): The stock gets clipped to Hold from Buy at Stifel, which says present prescription sales trends for Breo do not suggest immediate upside from current levels.

Also see:

New Stock Coverage: Sports Store Cabela's Set to Score as World Cup Starts?

Stock Upgrades: Soccer Sponsor Hewlett-Packard Kicks Off World Cup in Style
< 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: Blame It on Rio -- Brazil's Vale Gets No World Cup Boost
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Even as the fútbol-crazed land of Carnival prepares to party, the festivities are over for Rio de Janeiro's iron ore giant Vale S.A. (NYSE:VALE). Shares are off sharply before the bell, with China's economic slowdown having negatively impacted commodity prices while the oversupply situation remains dire.
 
A Ghanaian witch doctor called the "Devil of Wednesday" recently claimed to have put a hex on the planet's best player on the very eve of an eagerly-awaited World Cup. He certainly spooked equities yesterday, with the Dow (INDEXDJX:.DJI) and S&P 500 (INDEXSP:.INX) each enduring their poorest performance in weeks. (Camel owner Reynolds American (NYSE:RAI) did its best to boost Hump Day, rising 0.59% on an analyst upgrade but, alas, all to no avail.) Some stocks did buck a triple-digit blue chip decline. Merck (NYSE:MRK) ended up 0.55% to best all blue chips. In the World Cup year of 2002, the company was memorably given three separate ratings in a single morning by Merrill Lynch. Yesterday the same Bank of America (NYSE:BAC) unit did 180 degree Buy-from-Sell U-turns on a remarkable three different stocks. Take your pick: Micron (NASDAQ:MU), up an S&P 500 (INDEXSP:.INX)-best 5.02%, SanDisk (NASDAQ:SNDK), a 2.09% gainer, and strong>Molson Coors (NYSE:TAP) which rose 1.92% to a historic high, all got a kick out of the flip-flops.
 
Today in economics, April business inventories are forecast to come in essentially unchanged from the prior month's pace at 10:00 a.m. EDT. On the earnings front, Finisar (NASDAQ:FNSR), Lands' End (NASDAQ:LE), and Lululemon Athletica (NASDAQ:LULU) all release results.
 
Now let's look at this morning's rating reductions, an eclectic bunch that features both a French airline and Scandinavian energy giant, in addition to headline stock Vale S.A..
Air France-KLM (OTCMKTS:AFLYY) The carrier, whose infamously iffy on-time arrival record has earned it the moniker "Air Chance", gets downgraded to Underperform from Hold at Jefferies.
 
Anglo American (OTCMKTS:AAUKY): The commodity company, which owns 85% of South African diamond giant De Beers, is falling sharply in overseas trading today. This, after Morgan Stanley moved the miner to Underweight from Equal Weight.
 
AXIS Capital (NYSE:AXS): Goldman Sachs slashes the stock to Sell from Neutral.
 
Chesapeake Lodging Trust (NYSE:CHSP): Shares are cut to Perform from Outperform with a $30 price objective at FBR Capital, primarily due to valuation concerns.
 
Hawaiian Holdings (NASDAQ:HA): The airline outfit is taken to In-line from Outperform at Imperial Capital, whose target price is $16
 
Lufthansa: Credit Suisse cuts the trouble German airline titan to Neutral from Outperform.
 
Vale S.A.: Today's headline downgrade gets moved to Equal-Weight from Overweight at Morgan Stanley.
 
Rose Rock Midstream (NYSE:RRMS): Robert W Baird lowers the limited partnership to Neutral from Outperform.
 
Royal Bank of Scotland (NYSE:RBS): RBS gets reduced to Sell from Hold at Investec.
 
Springleaf Holdings (NYSE:LEAF): Shares are now Neutral from Buy at Sterne Agee.
 
Statoil (NYSE:STO): Deutsche Bank downgrades the Norwegian oil and gas outfit to Hold from Buy.
 
Theravance (NASDAQ:THRX): The stock gets clipped to Hold from Buy at Stifel, which says present prescription sales trends for Breo do not suggest immediate upside from current levels.

Also see:

New Stock Coverage: Sports Store Cabela's Set to Score as World Cup Starts?

Stock Upgrades: Soccer Sponsor Hewlett-Packard Kicks Off World Cup in Style
< 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