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Stock Downgrades: Hasbro Rides 'My Little Pony' Off Into the Sunset

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

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Call it the David Letterman rally. If yesterday didn't end up being a red-letter day in equities, with stocks unable to sustain their earlier green ink, the Dow (INDEXDJX:.DJI) did touch an all-time intraday high of 16,604.15. When the departing comic's show started in 1982 -- as, indeed, did history's biggest-ever bull run -- that index stood at a scant 851.69. (The month of David's debut, some swarthy son of Syria named Steven made the cover of Time magazine for his emerging deeds with a company then quaintly named Apple (NASDAQ:AAPL) Computer.) Perry Ellis (NASDAQ:PERY) also came of age 32 Februarys ago, when the clothing company received The New York Times (NYSE:NYT) treatment. It is still dressed for success, to judge by yesterday's 3.09% increase. Xerox (NYSE:XRX), although its "Nifty Fifty" '70s salad days were already behind it, remained big back then. The more things change -- its stock just surged 2.35%. Alas, the bright, shiny new things of 2014 fared far less well, with Facebook (NASDAQ:FB) tumbling 5.15% to its lowest level since January. Just like CBS Corp's (NYSE:CBS) late-night stand-up, Sheryl Sandberg clearly aims to leave 'em laughing. (All the way to the bank, actually.) Having just graced a comic book, at least she should have no trouble seeing the funny side of her stock slide.
 
It is quite a quiet Friday for corporate earnings announcements, but CarMax (NYSE:KMX) releases results.
 
Delhaize Group (NYSE:DEG): DEG gets downgraded to Neutral from Buy at Nomura.
 
Franklin Resources (NYSE:BEN): Shares are cut to Perform from Outperform at Keefe Bruyette, which trims its target price to $61 from $63.
 
Hasbro (NASDAQ:HAS): The owner of My Little Pony is downgraded to Hold from Buy at Needham.
 
Sonic (NASDAQ:SONC): Shares are now Neutral from Buy at Buckingham Research.
 
Vodafone (NASDAQ:VOD): The European telecom name gets taken to Neutral from Buy at Nomura.
 
Also see:

New Stock Coverage: Barracuda Networks Swims With the Sharks

Stock Upgrades: With Its 'London Whale' Beached, Tide Rises Again at JPMorgan

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No positions in stocks mentioned.
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