Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Stock Downgrades: DreamWorks Awakes to Monday Morning Nightmare


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

Movie studio DreamWorks Animation Skg Inc (NASDAQ:DWA) today gets downgraded by Bank of America Merrill Lynch. Its media and entertainment analysts wrote in a note that, "We anticipate a difficult 1Q14 for DWA [amid] Mr. Peabody and Sherman underperformance."
Last week was a difficult one for Wall Street, with an unloved Amazon (NASDAQ:AMZN) sliding 6.5%. Even as the company turned into a redistributionist Robin Hood, its best seller is a 700-page tome by a French economist raging against income inequality. The book thus follows in the footsteps of Go the F-- to Sleep as a sleeper hit on Amazon. (To more easily cure insomnia, just invest in the Dow (INDEXDJX:.DJI) on a day it did exactly nothing.) Some stocks did buck the desultory action. Orthopedic outfit Zimmer (NYSE:ZMH) jumped 11%, proving that the current cannabis craze now apparently even encompasses (artificial) joints.
Today in economics, March pending home sales are expected to tick up from February's pace at 10:00 a.m. Eastern. On the corporate front, another full week for first-quarter earnings announcements kicks off with the endlessly contentious Herbalife (NYSE:HLF) releasing results after the closing bell.

Now let's look at this morning's rating reductions, an eclectic bunch that features a favorite of William Ackman, the brewer of Guinness, and headline equity DreamWorks Animation.

Air Products (NYSE:APD): The chemical company, which billionaire activist investor Bill Ackman took a 9.8% stake in last summer, is slashed to Underweight from Neutral at Atlantic Equities.
Allergan (NYSE:AGN): The Botox owner, another Ackman favorite, was an analyst darling only a few days ago. This morning, however, Stifel reduces its rating to Hold from Buy after last week's 25.56% stock price surge left shares richly valued.
BCE Inc (NYSE:BCE): RBC Capital Markets moves the telecom services stock to Perform from Outperform and also trims its price target by $1 to $47. It would wait for a more compelling entry point before adding to positions.
CenturyLink (NYSE:CTL): Shares get downgraded to Perform from Outperform by BMO Capital Markets.
Clean Harbors (NYSE:CLH): Raymond James reduces its rating to Outperform from Strong Buy.
Diageo (NYSE:DEO): The owner of Guinness and Johnnie Walker gets downgraded to Neutral from Outperform at Credit Suisse.
DreamWorks Animation: Steven Spielberg's brainchild gets moved to Underperform from Neutral by Bank of America Merrill. The target price is also taken lower, to $22.
FLIR Systems (NASDAQ:FLIR): The tech name is now Fair Value from Buy at CRT Capital.
Mattress Firm Holding (NASDAQ:MFRM): KeyBanc moves MFRM to Hold from Buy.
Panera Bread (NASDAQ:PNRA): Shares are lowered to Underperform from Neutral at Longbow.
USG Corp (NYSE:USG): The building products powerhouse gets cut to Equal Weight from Overweight by Barclays, which also reduces its price objective by $6 to $31.
Wesco Aircraft (NYSE:WAIR): JPMorgan downgrades the stock to Neutral from Overweight.

Also see:

New Stock Coverage: Autobytel No Longer Partying Like It's 1999

Stock Upgrades: Deckers Outdoor Is a Shoo-In
< 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.
Featured Videos