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Stock Downgrades: An Oscar-Week Nightmare for Dreamworks


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

By day's end, gains in Dow Industrials (INDEXDJX:.DJI) -- up almost 50 points at one stage -- were gone with the wind but frankly, my dear, you can't blame Atlanta for the sea of scarlet. Hometown heroes Home Depot (NYSE:HD) and Coca-Cola (NYSE:KO) were the top two blue chips, rising a respective 3.99% and 0.72%. (Bullion also gained to a four-month high, and tomorrow coin lovers will converge on a numismatic conference in none other than Georgia's capital to get a first look at that astonishing $10 million in gold coins a California couple found while walking their dog.) On an otherwise down day, some stocks did feel the love. Far too much love, truth be told, in the extremely peculiar case of Domino's Pizza (NYSE:DPZ), whose 0.46% gain to a historic high should surely have been celebrated in a much more restrained manner. T-Mobile (TMUS), whose pink-skirted spokeswoman is much missed, fell 5.59% after a revenue miss, this as JPMorgan's (NYSE:JPM) ended off 1.72% after rather rudely showing us its pink slip. Fifth & Pacific (NYSE:FNP), whose Juicy Couture loudly celebrates the same color, surged 12.02% to top the entire NYSE. And Mohamed El-Erian took to the most famous pink sheets on Wall Street to make his case.

Today in economics, a decline is forecast for January new-home sales at 10:00 a.m. Eastern. On the earnings front, Abercrombie & Fitch (NYSE:ANF), Barnes & Noble (NYSE:BKS), Cablevision (NYSE:CVC), and Dollar Tree (NASDAQ:DLTR) all release results.

Diamondrock Hospitality (NYSE:DRH): DRH gets downgraded to Neutral from Buy at ISI Group, whose price objective is $13.

Dreamworks Animation (NASDAQ:DWA): This definitely wasn't in Steven Spielberg's script only four days before the Academy Awards. The movie studio he helped establish, whose shares are tumbling some 10.31% as we speak, is now Underweight from Neutral at Piper Jaffray. This, as fourth-quarter revenue fell amid dud DVD sales for its Turbo film.

Dynamic Materials (NASDAQ:BOOM): JPMorgan moves the stock to Neutral from Overweight. Its target price, previously $25, also gets trimmed by $4.

Humana (NYSE:HUM): Shares are slashed to Sell from Neutral at Citigroup, with further share-price upside now seen as limited after a recent breakout to fresh bests.

Jazz Pharmaceuticals (NASDAQ:JAZZ): Cantor Fitzgerald cuts the company to Hold from Buy. Its amended objective is $182.

Juniper Networks (NYSE:JNPR): The tech name gets taken to Neutral from Overweight at Piper Jaffray.

LVMH Moet Hennessy Louis Vuitton (OTCMKTS:LVMUY): Credit Suisse lowers the last name in luxury to Underperform from Neutral.

Phillips 66 Partners (NYSE:PSXP): Shares are now Neutral from Outperform with a new target of $47 at Credit Suisse.

Public Storage (NYSE:PSA): Goldman Sachs gives the stock a downgrade to Sell from Neutral.

Safeway (NYSE:SWY): JPMorgan moves the supermarket stock to Neutral from Overweight.

Seadrill (NYSE:SDRL): The equity is now Neutral from Buy at Nomura.

Toll Brothers (NYSE:TOL): Keefe Bruyette takes luxury home builder TOL to Perform from Outperform. Its new price objective is $42.

See also:

New Stock Coverage: Randgold Resources -- It's Even Better Than Finding $10 Million in a Can (MVPRO article)

Stock Upgrades: LinkedIn Can Be Big in Beijing (MVPRO article)
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