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Stock Downgrades: Campbell Soup Stock Is All Out of Liquid Assets


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

Those venerable sidewalk Santas are finally calling it quits on Fifth Avenue, and no wonder - how could they compete with Wall Street, where it is now Christmas every day. (Although it may not be a very holly Joly yuletide for Best Buy (NYSE:BBY), which nosedived 9.9% even as US stock markets reached fresh peaks.) There seems to be no stopping both the Dow (INDEXDJX:.DJI), now up for seven straight weeks, and S&P 500 Index (INDEXSP:.INX). Still, denizens of the financial industry remain under intense stress, so go easy on them, okay? No comment yet from the fellow who sued Bank of America (NYSE:BAC) for giving him a heart attack but, if his ticker is healthy enough, he might be surprised to see its stock symbol now showing nothing but green ink. Poultry processor Tyson Foods (NYSE:TSN) jumped 10.60%; a penny for the thoughts of that poor professional chicken catcher who just got fired for his attitude. Amid unrestrained ebullience elsewhere Campbell Soup (NYSE:CPB), maker of V8, slid 7.2% and Tesla Motors (NASDAQ:TSLA), whose V8 engines are always aflame, tumbled 10%. Cruelly adding to its angst, Catching Fire just blew away all comers at the box office.

In terms of economic events that may move US markets this morning, at 10:00 a.m. Eastern October pending home sales are expected to post an improvement from September's pace. Regarding specific stocks, Nuance Communications (NASDAQ:NUAN), Palo Alto Networks (NYSE:PANW), Qihoo 360 Technology (NYSE:QIHU), SeaDrill (NYSE:SDRL), and Workday (NYSE:WDAY) are all due to release quarterly results.

AOL Inc. (NYSE:AOL): AOL Inc. is downgraded to Sector Perform from Outperform at RBC Capital. It is primarily due to valuation, with AOL Inc. stock already up about 50% this year.

Brocade (NASDAQ:BRCD): Shares are now Neutral from Buy with a $9 price objective at ISI Group, which would wait for a more compelling entry point before purchasing.

Campbell Soup (NYSE:CPB): Campbell Soup stock, which slumped 7.2% last week, is now Neutral from Buy at Goldman Sachs. Other brands of Campbell Soup include Pepperidge Farm and V8 juice.

Clorox (NYSE:CLX): CLX gets cut to Sell from Neutral at Goldman, which has an issue with the stock's premium valuation.

Deere (NYSE:DE): BMO Capital markets moves the company to Market Perform from Outperform.

JetBlue Airways (NASDAQ:JBLU): JetBlue is now Underperform from Perform at Raymond James. As a result, JetBlue stock is trading lower ahead of this morning's opening bell.

Schnitzer Steel (NASDAQ:SCHN): Shares are slashed to Underperform from Hold at Jefferies.

Sprint (NYSE:S): Pacific Crest takes the telecom stock to Sector Perform from Outperform.

Time Warner Cable (NYSE:TWC): Amid merger concerns, the cable company gets cut to Hold from Buy at Argus.

(See also: New Stock Coverage: Goldman Sachs, Still Doing 'God's Work,' Sees Church & Dwight Heading Heavenward and Stock Upgrades: Strong Start To The Week For Finish Line)
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