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Stock Downgrades: It's Time to Stop Pampering Procter & Gamble
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Blue chip Procter & Gamble (NYSE:PG) may be a drag on the Dow (INDEXDJX:.DJI) today after the consumer products powerhouse incurred a rating reduction. The company, whose ubiquitous household brands include Bounty, Pampers, Gillette, and Tide, gets downgraded primarily due to a stubbornly slow improvement in its underlying fundamentals.
 
"Buffalo" Bill Hillman, who ironically helped author How to Survive the Bulls of Pamplona, was just rendered semi-conscious in San Fermin. As such he knows better than most that, as any matador can tell you, the animal is almost always at its most dangerous when mortally wounded and facing the end. Thanks to events in Spain's next-door neighbor, this remarkable run in equities does indeed look like a boom on its last legs. Yesterday billionaire Carl Icahn, who knows a bit about the end of bulls, was even more of a party pooper than Portugal after opining in an interview "it is time to be cautious about the US stock markets." Thus did both blue chips and S&P 500 (INDEXSP:.INX) shares continue their recent slide. In a week when a Prohibition-era president, hitherto believed to be prim and proper, was shown to have an extremely lively love life and the usually dry pages of Accounting Today read like the gossip rags, it was only fair that Wall Street should finally awake from its summer slumber and finally give us some excitement. Were he alive in the 21st Century, Warren Harding would doubtless have been a devotee of Sex and the City and yesterday the show, off the air for a decade, could claim credit for two standout showings. Crumbs Bake Shop (OTCMKTS:CRMB), inspired by Carrie and Co.'s Magnolia Bakery endorsement, said "let them eat cupcake" in surging some 1,197.10%. And TiVo Inc. (NASDAQ:TIVO), the true love of Miranda's life, jumped 3.29%, admittedly somewhat less impressive but still a stellar showing in light of the awful overall tape. Faring far less well was a disowned Lumber Liquidators (NYSE:LL), which dropped an NYSE-worst 21.54% in its single worst showing since 2011. Way back when Europe's debt threat was still an issue. Good thing those days are over, eh?
 
There aren't any top-tier economic reports due today but, in earnings action, Infosys (NYSE:INFY) and Wells Fargo (NYSE:WFC) each released results earlier this morning.
 
Now let's look at this morning's rating reductions, an eclectic bunch that features both a problem-plagued Portuguese bank and American athletic apparel outfit, plus headline stock Procter & Gamble.

Alon USA Partners (NYSE:ALDW): Shares are now Neutral from Buy at Citigroup.
 
Banco Espírito Santo (OTCMKTS:BKESY): Okay. This might have been marginally more helpful before yesterday's 17.24% slide, but better late than never I guess. The poster child for Portugal's financial crisis gets slashed to Neutral from Buy at Goldman Sachs.
 
Finish Line (NASDAQ:FINL): Sterne Agee cuts the company to Neutral from Buy.
 
Procter & Gamble: Today's headline stock gets taken to Market Perform from Outperform with Wells Fargo.
 
Qualcomm (NASDAQ:QCOM): Goldman pulls the tech firm from its list of Conviction Buys.
 
Teck Resources (NYSE:TCK): The Canadian commodity company is lowered to Underperform from Neutral by Bank of America Merrill Lynch.
 
Vestas Wind (OTCMKTS:VWDRY): HSBC Securities slashes the Danish turbine titan to Neutral from Overweight.
 
Also see:

New Stock Coverage: Vice Stock Reynolds Is Smoking Hot

Stock Upgrades: Casual Friday Suits Joe's Jeans Just Fine
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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.
Stock Downgrades: It's Time to Stop Pampering Procter & Gamble
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Blue chip Procter & Gamble (NYSE:PG) may be a drag on the Dow (INDEXDJX:.DJI) today after the consumer products powerhouse incurred a rating reduction. The company, whose ubiquitous household brands include Bounty, Pampers, Gillette, and Tide, gets downgraded primarily due to a stubbornly slow improvement in its underlying fundamentals.
 
"Buffalo" Bill Hillman, who ironically helped author How to Survive the Bulls of Pamplona, was just rendered semi-conscious in San Fermin. As such he knows better than most that, as any matador can tell you, the animal is almost always at its most dangerous when mortally wounded and facing the end. Thanks to events in Spain's next-door neighbor, this remarkable run in equities does indeed look like a boom on its last legs. Yesterday billionaire Carl Icahn, who knows a bit about the end of bulls, was even more of a party pooper than Portugal after opining in an interview "it is time to be cautious about the US stock markets." Thus did both blue chips and S&P 500 (INDEXSP:.INX) shares continue their recent slide. In a week when a Prohibition-era president, hitherto believed to be prim and proper, was shown to have an extremely lively love life and the usually dry pages of Accounting Today read like the gossip rags, it was only fair that Wall Street should finally awake from its summer slumber and finally give us some excitement. Were he alive in the 21st Century, Warren Harding would doubtless have been a devotee of Sex and the City and yesterday the show, off the air for a decade, could claim credit for two standout showings. Crumbs Bake Shop (OTCMKTS:CRMB), inspired by Carrie and Co.'s Magnolia Bakery endorsement, said "let them eat cupcake" in surging some 1,197.10%. And TiVo Inc. (NASDAQ:TIVO), the true love of Miranda's life, jumped 3.29%, admittedly somewhat less impressive but still a stellar showing in light of the awful overall tape. Faring far less well was a disowned Lumber Liquidators (NYSE:LL), which dropped an NYSE-worst 21.54% in its single worst showing since 2011. Way back when Europe's debt threat was still an issue. Good thing those days are over, eh?
 
There aren't any top-tier economic reports due today but, in earnings action, Infosys (NYSE:INFY) and Wells Fargo (NYSE:WFC) each released results earlier this morning.
 
Now let's look at this morning's rating reductions, an eclectic bunch that features both a problem-plagued Portuguese bank and American athletic apparel outfit, plus headline stock Procter & Gamble.

Alon USA Partners (NYSE:ALDW): Shares are now Neutral from Buy at Citigroup.
 
Banco Espírito Santo (OTCMKTS:BKESY): Okay. This might have been marginally more helpful before yesterday's 17.24% slide, but better late than never I guess. The poster child for Portugal's financial crisis gets slashed to Neutral from Buy at Goldman Sachs.
 
Finish Line (NASDAQ:FINL): Sterne Agee cuts the company to Neutral from Buy.
 
Procter & Gamble: Today's headline stock gets taken to Market Perform from Outperform with Wells Fargo.
 
Qualcomm (NASDAQ:QCOM): Goldman pulls the tech firm from its list of Conviction Buys.
 
Teck Resources (NYSE:TCK): The Canadian commodity company is lowered to Underperform from Neutral by Bank of America Merrill Lynch.
 
Vestas Wind (OTCMKTS:VWDRY): HSBC Securities slashes the Danish turbine titan to Neutral from Overweight.
 
Also see:

New Stock Coverage: Vice Stock Reynolds Is Smoking Hot

Stock Upgrades: Casual Friday Suits Joe's Jeans Just Fine
< 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.
Stock Downgrades: It's Time to Stop Pampering Procter & Gamble
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Blue chip Procter & Gamble (NYSE:PG) may be a drag on the Dow (INDEXDJX:.DJI) today after the consumer products powerhouse incurred a rating reduction. The company, whose ubiquitous household brands include Bounty, Pampers, Gillette, and Tide, gets downgraded primarily due to a stubbornly slow improvement in its underlying fundamentals.
 
"Buffalo" Bill Hillman, who ironically helped author How to Survive the Bulls of Pamplona, was just rendered semi-conscious in San Fermin. As such he knows better than most that, as any matador can tell you, the animal is almost always at its most dangerous when mortally wounded and facing the end. Thanks to events in Spain's next-door neighbor, this remarkable run in equities does indeed look like a boom on its last legs. Yesterday billionaire Carl Icahn, who knows a bit about the end of bulls, was even more of a party pooper than Portugal after opining in an interview "it is time to be cautious about the US stock markets." Thus did both blue chips and S&P 500 (INDEXSP:.INX) shares continue their recent slide. In a week when a Prohibition-era president, hitherto believed to be prim and proper, was shown to have an extremely lively love life and the usually dry pages of Accounting Today read like the gossip rags, it was only fair that Wall Street should finally awake from its summer slumber and finally give us some excitement. Were he alive in the 21st Century, Warren Harding would doubtless have been a devotee of Sex and the City and yesterday the show, off the air for a decade, could claim credit for two standout showings. Crumbs Bake Shop (OTCMKTS:CRMB), inspired by Carrie and Co.'s Magnolia Bakery endorsement, said "let them eat cupcake" in surging some 1,197.10%. And TiVo Inc. (NASDAQ:TIVO), the true love of Miranda's life, jumped 3.29%, admittedly somewhat less impressive but still a stellar showing in light of the awful overall tape. Faring far less well was a disowned Lumber Liquidators (NYSE:LL), which dropped an NYSE-worst 21.54% in its single worst showing since 2011. Way back when Europe's debt threat was still an issue. Good thing those days are over, eh?
 
There aren't any top-tier economic reports due today but, in earnings action, Infosys (NYSE:INFY) and Wells Fargo (NYSE:WFC) each released results earlier this morning.
 
Now let's look at this morning's rating reductions, an eclectic bunch that features both a problem-plagued Portuguese bank and American athletic apparel outfit, plus headline stock Procter & Gamble.

Alon USA Partners (NYSE:ALDW): Shares are now Neutral from Buy at Citigroup.
 
Banco Espírito Santo (OTCMKTS:BKESY): Okay. This might have been marginally more helpful before yesterday's 17.24% slide, but better late than never I guess. The poster child for Portugal's financial crisis gets slashed to Neutral from Buy at Goldman Sachs.
 
Finish Line (NASDAQ:FINL): Sterne Agee cuts the company to Neutral from Buy.
 
Procter & Gamble: Today's headline stock gets taken to Market Perform from Outperform with Wells Fargo.
 
Qualcomm (NASDAQ:QCOM): Goldman pulls the tech firm from its list of Conviction Buys.
 
Teck Resources (NYSE:TCK): The Canadian commodity company is lowered to Underperform from Neutral by Bank of America Merrill Lynch.
 
Vestas Wind (OTCMKTS:VWDRY): HSBC Securities slashes the Danish turbine titan to Neutral from Overweight.
 
Also see:

New Stock Coverage: Vice Stock Reynolds Is Smoking Hot

Stock Upgrades: Casual Friday Suits Joe's Jeans Just Fine
< 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.
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