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


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

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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