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Stock Downgrades: Even 'America's Mayor' Can't Save LifeLock


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

Identity theft protection outfit LifeLock (NYSE:LOCK) looks beyond even Rudy Giuliani's help these days. Shares, which slumped 17.57% on Monday, are giving back another 0.75% before the bell. LifeLock just suspended its mobile Wallet application amid issues over security and industry compliance.
If a money tree grows in the forest -- a Wake Forest, in the case of The New York Times (NYSE:NYT) -- and no one is around to hear it, does it make a noise? US stocks, helped by a 1.47% increase in "the newspaper of record," ended up slightly amid the second lightest trading volume of 2014. The Dow (INDEXDJX:.DJI) advanced despite a drop in AT&T Inc. (NYSE:T), whose adulatory acquisition of DirecTV (NASDAQ:DTV) was appropriately consummated on the most popular day of the week for television watching. Ironically enough, the blockbuster $49 billion deal now hinges on, of all things, Sunday Ticket.
There aren't any top-tier economic data due today but expect quarterly earnings announcements out of Home Depot (NYSE:HD), Dick's Sporting Goods (NYSE:DKS), and Staples (NASDAQ:SPLS).
Now let's look at this morning's rating reductions, an eclectic bunch that features a recently resurgent retailer plus headline stock LifeLock.

Anadarko Petroleum (NYSE:APC): Shares get downgraded to Equal Weight from Overweight by Barclays.
BASF (OTCMKTS:BASFY): Kepler cuts the German chemical giant to Hold from Buy.
Campbell Soup (NYSE:CPB): Shares, which tumbled 2.35% on Monday after an earnings disappointment, get downgraded to Underperform from Neutral at Credit Suisse.
DirecTV: Morgan Stanley moves the stock to Equal Weight from Overweight.
General Dynamics (NYSE:GD): GD gets downgraded to Hold from Buy at Argus.
J.C. Penney (NYSE:JCP): The stock, left for dead not long ago but a strong performer of late, is taken to Underperform from Market Perform with Wells Fargo.
LifeLock: Goldman Sachs lowers LOCK to Neutral from Buy. Its target price is also slashed substantially, to $12.50 from $25.
Molycorp (NYSE:MCP): MCP is moved to Underweight from Equal Weight at Morgan Stanley.
Questcor Pharmaceuticals (NASDAQ:QCOR): Shares are Neutral from Buy with a $92 price objective at Mizuho.
Ryanair (NASDAQ:RYAAY): With valuation stretched after Monday's 7.26% surge, Imperial Capital cuts the budget carrier to In Line from Outperform. Its target is $60.
Tesco (OTCMKTS:TSCDY): Jefferies takes the British grocery company to Hold from Buy.

Also see:

New Stock Coverage: If It's Tuesday, This Must Be Belgium for Netflix

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No positions in stocks mentioned.
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