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Stock Downgrades: Declare Your Independence From Regado Biosciences


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

Shares of biopharmaceutical firm Regado Biosciences (NASDAQ:RGDO) are slumping some 54.88% as we speak. This after the Data Safety Monitoring Board unexpectedly began a review of the company's drug trial data.
The Dow (INDEXDJX:.DJI) and S&P 500 (INDEXSP:.INX) each hit historic highs on a day of wine and roses. Robert Mondavi owner Constellation Brands (NYSE:STZ), the world's largest vintner, rose 2.34% to a record on its impressive earnings, and a stellar private payroll report from Roseland, New Jersey-based Automatic Data Processing (NASDAQ:ADP) proved, for once, an accurate predictor of this morning's strong jobs data. Among standout stocks StemCells (NASDAQ:STEM) surged 14.50% on a broker boost even as it emerged that, in its industry, things are not always what they seem. Moscow's Gazprom (OTCMKTS:OGZPY), a World Cup pick of ours, gained 2.18% even as the country's soccer coach had his feet held to the fire. Moving from Mother Russia to the Mother Country, on the eve of Independence Day Merrie Olde England's Mothercare (LON:MTC) advanced 8.39% after rebuffing two merger bids from Uncle Sam's proud son Destination Maternity (NASDAQ:DEST), itself up 6.03%. And an analyst upgrade sent Bank of America (NYSE:BAC) surging 1.60%. How its Merrill Lynch unit must wish it could forget Stan O'Neal, who drove the storied institution to the brink of bankruptcy. Alas, thanks to Google (NASDAQ:GOOG), only Mr. O'Neal himself appears to enjoy that privilege.
Today in economic data, June's ISM services index is expected to tick up from the prior month's pace at 10:00 a.m. EDT. US equity markets close early at 1:00 p.m. ahead of the tomorrow's July 4th holiday.

Now let's look at this morning's research changes, a group encompassing a money manager as well as our aforementioned Regado Biosciences.

Adecco (OTCMKTS:AHEXY): Bank of America Merrill Lynch lowers the stock to Neutral from Buy.
Comerica (NYSE:CMA): CMA gets cut to Neutral from Buy at Citigroup.
Endeavour International: (NYSE:END): The energy outfit is moved to Market Perform from Outperform at FBR Capital, which also takes its target price to $2 from $6.95. Concerns include an extremely levered balance sheet.
Lazard (NYSE:LAZ): Raymond James reduces the money manager to a still-bullish Outperform from its previous Strong Buy.
Newfield Exploration (NYSE:NFX): NFX is now Hold from Buy at Société Générale.
Regado Biosciences: Today's headline downgrade gets cut by an unusual 180 degrees, all the way to Underperform from Outperform with Wedbush.
ResMed (NYSE:RMD): Deutsche Bank cuts the company to Hold from Buy, sending it off 1.31% ahead of the open.

Also see:

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No positions in stocks mentioned.
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