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Stock Downgrades: Boeing Going Lower
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Key Dow (INDEXDJX:.DJI) component Boeing (NYSE:BA) slipped 0.51% yesterday even as the index enjoyed its fourth straight historic high. Further turbulence can be expected, according to an analyst whose concerns include an excessive valuation and limited upside potential amid a lack of upcoming catalysts.
 
An economics professor certainly livened things up in the evening, but the absence of any top-tier economic data during the day made for a decidedly sleepy session on Wall Street. Blue chips did hit another record high, but a paltry 0.02% increase amid anemic volume, a tight trading range, and ever fewer equities making fresh bests speaks to the market's bad breadth. Not that Colgate (NYSE:CL) is complaining, for it just jumped to an all-time summit on a broker boostCherokee (NASDAQ:CHKE) surged 12.11%, which will doubtless inspire Elizabeth Warren as she tries to tackle the income inequality that so troubles the multibillionaire chief of Goldman Sachs (NYSE:GS). International Business Machines (NYSE:IBM), which recently achieved an Indian summer, suffered a nuclear winter in dropping a Dow-worst 1.93%. Pride of Arkansas Tyson Foods (NYSE:TSN) tumbled 3.81% on a rating reduction, with analysts at Credit Suisse (NYSE:CS) calling the company "dead money." Not to be confused with "dead broke," a comment that continues to get an ex-Arkansas first lady into Hot Springs water.
 
The aforementioned slow week in economics continues with no top-tier data due today, but H&R Block (NYSE:HRB) and Restoration Hardware (NYSE:RH) each release earnings.
 
Now let's look at this morning's rating reductions. There are relatively few -- and such unbridled analyst optimism is almost always the sign of a market top -- but besides Boeing, they include both a medical company and hotel giant.

Bancorp Inc (NASDAQ:TBBK): Sterne Agee slashes the stock to Neutral from Buy.
 
B/E Aerospace (NASDAQ:BEAV): The manufacturer of aircraft seats, fresh from announcing it will split into two public entities, gets Hold-from-Buy downgrades by both Canaccord Genuity and Jefferies.
 
Boeing: RBC Capital reduces its rating to Perform from Outperform, sending the stock off 1.20% as we speak. The amended price objective is $145.
 
Marriott International (NASDAQ:MAR): Macquarie moves the accommodation outfit to Outperform from Neutral.
 
Parexel (NASDAQ:PRXL): The medical laboratories stock gets lowered to a still-bullish Buy from Strong Buy at ISI Group. Valuation issues loom understandably large after recent share price strength.

Also see:

New Stock Coverage: Beware National Bank of Greece -- a Bull Bearing Gifts?

Stock Upgrades: As World Cup Begins in Brazil, Time to Head Into Amazon


 
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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: Boeing Going Lower
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Key Dow (INDEXDJX:.DJI) component Boeing (NYSE:BA) slipped 0.51% yesterday even as the index enjoyed its fourth straight historic high. Further turbulence can be expected, according to an analyst whose concerns include an excessive valuation and limited upside potential amid a lack of upcoming catalysts.
 
An economics professor certainly livened things up in the evening, but the absence of any top-tier economic data during the day made for a decidedly sleepy session on Wall Street. Blue chips did hit another record high, but a paltry 0.02% increase amid anemic volume, a tight trading range, and ever fewer equities making fresh bests speaks to the market's bad breadth. Not that Colgate (NYSE:CL) is complaining, for it just jumped to an all-time summit on a broker boostCherokee (NASDAQ:CHKE) surged 12.11%, which will doubtless inspire Elizabeth Warren as she tries to tackle the income inequality that so troubles the multibillionaire chief of Goldman Sachs (NYSE:GS). International Business Machines (NYSE:IBM), which recently achieved an Indian summer, suffered a nuclear winter in dropping a Dow-worst 1.93%. Pride of Arkansas Tyson Foods (NYSE:TSN) tumbled 3.81% on a rating reduction, with analysts at Credit Suisse (NYSE:CS) calling the company "dead money." Not to be confused with "dead broke," a comment that continues to get an ex-Arkansas first lady into Hot Springs water.
 
The aforementioned slow week in economics continues with no top-tier data due today, but H&R Block (NYSE:HRB) and Restoration Hardware (NYSE:RH) each release earnings.
 
Now let's look at this morning's rating reductions. There are relatively few -- and such unbridled analyst optimism is almost always the sign of a market top -- but besides Boeing, they include both a medical company and hotel giant.

Bancorp Inc (NASDAQ:TBBK): Sterne Agee slashes the stock to Neutral from Buy.
 
B/E Aerospace (NASDAQ:BEAV): The manufacturer of aircraft seats, fresh from announcing it will split into two public entities, gets Hold-from-Buy downgrades by both Canaccord Genuity and Jefferies.
 
Boeing: RBC Capital reduces its rating to Perform from Outperform, sending the stock off 1.20% as we speak. The amended price objective is $145.
 
Marriott International (NASDAQ:MAR): Macquarie moves the accommodation outfit to Outperform from Neutral.
 
Parexel (NASDAQ:PRXL): The medical laboratories stock gets lowered to a still-bullish Buy from Strong Buy at ISI Group. Valuation issues loom understandably large after recent share price strength.

Also see:

New Stock Coverage: Beware National Bank of Greece -- a Bull Bearing Gifts?

Stock Upgrades: As World Cup Begins in Brazil, Time to Head Into Amazon


 
< 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: Boeing Going Lower
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Key Dow (INDEXDJX:.DJI) component Boeing (NYSE:BA) slipped 0.51% yesterday even as the index enjoyed its fourth straight historic high. Further turbulence can be expected, according to an analyst whose concerns include an excessive valuation and limited upside potential amid a lack of upcoming catalysts.
 
An economics professor certainly livened things up in the evening, but the absence of any top-tier economic data during the day made for a decidedly sleepy session on Wall Street. Blue chips did hit another record high, but a paltry 0.02% increase amid anemic volume, a tight trading range, and ever fewer equities making fresh bests speaks to the market's bad breadth. Not that Colgate (NYSE:CL) is complaining, for it just jumped to an all-time summit on a broker boostCherokee (NASDAQ:CHKE) surged 12.11%, which will doubtless inspire Elizabeth Warren as she tries to tackle the income inequality that so troubles the multibillionaire chief of Goldman Sachs (NYSE:GS). International Business Machines (NYSE:IBM), which recently achieved an Indian summer, suffered a nuclear winter in dropping a Dow-worst 1.93%. Pride of Arkansas Tyson Foods (NYSE:TSN) tumbled 3.81% on a rating reduction, with analysts at Credit Suisse (NYSE:CS) calling the company "dead money." Not to be confused with "dead broke," a comment that continues to get an ex-Arkansas first lady into Hot Springs water.
 
The aforementioned slow week in economics continues with no top-tier data due today, but H&R Block (NYSE:HRB) and Restoration Hardware (NYSE:RH) each release earnings.
 
Now let's look at this morning's rating reductions. There are relatively few -- and such unbridled analyst optimism is almost always the sign of a market top -- but besides Boeing, they include both a medical company and hotel giant.

Bancorp Inc (NASDAQ:TBBK): Sterne Agee slashes the stock to Neutral from Buy.
 
B/E Aerospace (NASDAQ:BEAV): The manufacturer of aircraft seats, fresh from announcing it will split into two public entities, gets Hold-from-Buy downgrades by both Canaccord Genuity and Jefferies.
 
Boeing: RBC Capital reduces its rating to Perform from Outperform, sending the stock off 1.20% as we speak. The amended price objective is $145.
 
Marriott International (NASDAQ:MAR): Macquarie moves the accommodation outfit to Outperform from Neutral.
 
Parexel (NASDAQ:PRXL): The medical laboratories stock gets lowered to a still-bullish Buy from Strong Buy at ISI Group. Valuation issues loom understandably large after recent share price strength.

Also see:

New Stock Coverage: Beware National Bank of Greece -- a Bull Bearing Gifts?

Stock Upgrades: As World Cup Begins in Brazil, Time to Head Into Amazon


 
< 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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