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

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

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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)
No positions in stocks mentioned.
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