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Stock Downgrades: Lowe's Left High and Dry
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Home-improvement retailer Lowe's (NYSE:LOW) today hears a four-letter word that is hardly ever uttered in Wall Street research departments: "Sell." Concerns include shares that trade at a premium multiple by historical standards, the company's uncertain growth outlook, and a patchy housing market.
 
With summer now unofficially upon us, casual footwear is understandably all the rage. Although the sartorial smart set is advising against flip-flops in Washington, on Wall Street the style is everywhere. Gurus who prophesied doom only in April are, well, standing corrected come May. Truth be told, you don't need a Gartman Letter to get a check in the mail, especially when Aéropostale (NYSE:ARO) - utterly unloved on Friday - suddenly bounced back to the tune of 14.96% as the S&P 500 (INDEXSP:.INX) rose to another record. Ex-Dow (INDEXDJX:.DJI) component Bank of America (NYSE:BAC) gained 3.40% after The Thundering Herd met the blundering word, with a $4 billion accounting error related to its acquisition of Merrill Lynch now being blamed on a change in the Fed's grammar. Equities earlier got a boost from a 0.8% increase in durable goods, again blindsiding expensively compensated economists who called for a decrease of 0.7%. An odd time, then, for Pimco to appoint Paul McCulley its first-ever chief economist. At least Bill Gross, after his Mohamed El-Erian mess, has finally found his heir apparent. Or should I say hair, for Mr. McCulley's legendary locks are head and shoulders above anything else in the financial industry.
 
Speaking of the dismal science, it's quite a quiet day in economic data, but expect quarterly earnings announcements out of Michael Kors (NYSE:KORS), Palo Alto Networks (NYSE:PANW), Popeyes Louisiana Kitchen (NASDAQ:PLKI), and Toll Brothers (NYSE:TOL).
 
Now let's look at this morning's rating reductions, an eclectic bunch that features a British telecom titan, Dutch supermarket stock, and Swiss watchmaker in addition to our headline equity Lowe's.

Ahold (OTCMKTS:AHONY): The grocery giant from Holland is moved to Market Perform from Outperform at Raymond James.
 
Dollar General (NYSE:DG): Deutsche Bank downgrades DG to Hold from Buy at Deutsche Bank. Its target price is also taken lower, by $5 to $60.
 
Hillshire Brands (NYSE:HSH): The stock, which yesterday jumped an NYSE-best 22.07% on takeover talk, is today taken to Perform from Outperform by BMO Capital. Its amended price objective is $49.
 
Live Nation Entertainment (NYSE:LYV): Sterne Agee lowers LYV to Neutral from Buy.
 
Lowe's: Shares get slashed to Sell from Hold at Canaccord Genuity, which also cuts its target by $10 to $37.
 
Nautilus (NYSE:NLS): Due to valuation issues, shares are now Neutral from Buy at B. Riley & Co.
 
Swatch (OTCMKTS:SWGAY): Société Générale slashes the Swiss watch stock to Hold from Buy.
 
Vodafone (NASDAQ:VOD): The British phone firm is downgraded to Hold from Buy by Berenberg.

Also see:

New Stock Coverage: Pfizer Profits From Purple Pill Poppers

Stock Upgrades: Twitter's Bluebird Is the Bee's Knees
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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: Lowe's Left High and Dry
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Home-improvement retailer Lowe's (NYSE:LOW) today hears a four-letter word that is hardly ever uttered in Wall Street research departments: "Sell." Concerns include shares that trade at a premium multiple by historical standards, the company's uncertain growth outlook, and a patchy housing market.
 
With summer now unofficially upon us, casual footwear is understandably all the rage. Although the sartorial smart set is advising against flip-flops in Washington, on Wall Street the style is everywhere. Gurus who prophesied doom only in April are, well, standing corrected come May. Truth be told, you don't need a Gartman Letter to get a check in the mail, especially when Aéropostale (NYSE:ARO) - utterly unloved on Friday - suddenly bounced back to the tune of 14.96% as the S&P 500 (INDEXSP:.INX) rose to another record. Ex-Dow (INDEXDJX:.DJI) component Bank of America (NYSE:BAC) gained 3.40% after The Thundering Herd met the blundering word, with a $4 billion accounting error related to its acquisition of Merrill Lynch now being blamed on a change in the Fed's grammar. Equities earlier got a boost from a 0.8% increase in durable goods, again blindsiding expensively compensated economists who called for a decrease of 0.7%. An odd time, then, for Pimco to appoint Paul McCulley its first-ever chief economist. At least Bill Gross, after his Mohamed El-Erian mess, has finally found his heir apparent. Or should I say hair, for Mr. McCulley's legendary locks are head and shoulders above anything else in the financial industry.
 
Speaking of the dismal science, it's quite a quiet day in economic data, but expect quarterly earnings announcements out of Michael Kors (NYSE:KORS), Palo Alto Networks (NYSE:PANW), Popeyes Louisiana Kitchen (NASDAQ:PLKI), and Toll Brothers (NYSE:TOL).
 
Now let's look at this morning's rating reductions, an eclectic bunch that features a British telecom titan, Dutch supermarket stock, and Swiss watchmaker in addition to our headline equity Lowe's.

Ahold (OTCMKTS:AHONY): The grocery giant from Holland is moved to Market Perform from Outperform at Raymond James.
 
Dollar General (NYSE:DG): Deutsche Bank downgrades DG to Hold from Buy at Deutsche Bank. Its target price is also taken lower, by $5 to $60.
 
Hillshire Brands (NYSE:HSH): The stock, which yesterday jumped an NYSE-best 22.07% on takeover talk, is today taken to Perform from Outperform by BMO Capital. Its amended price objective is $49.
 
Live Nation Entertainment (NYSE:LYV): Sterne Agee lowers LYV to Neutral from Buy.
 
Lowe's: Shares get slashed to Sell from Hold at Canaccord Genuity, which also cuts its target by $10 to $37.
 
Nautilus (NYSE:NLS): Due to valuation issues, shares are now Neutral from Buy at B. Riley & Co.
 
Swatch (OTCMKTS:SWGAY): Société Générale slashes the Swiss watch stock to Hold from Buy.
 
Vodafone (NASDAQ:VOD): The British phone firm is downgraded to Hold from Buy by Berenberg.

Also see:

New Stock Coverage: Pfizer Profits From Purple Pill Poppers

Stock Upgrades: Twitter's Bluebird Is the Bee's Knees
< 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.
Daily Recap
Stock Downgrades: Lowe's Left High and Dry
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Home-improvement retailer Lowe's (NYSE:LOW) today hears a four-letter word that is hardly ever uttered in Wall Street research departments: "Sell." Concerns include shares that trade at a premium multiple by historical standards, the company's uncertain growth outlook, and a patchy housing market.
 
With summer now unofficially upon us, casual footwear is understandably all the rage. Although the sartorial smart set is advising against flip-flops in Washington, on Wall Street the style is everywhere. Gurus who prophesied doom only in April are, well, standing corrected come May. Truth be told, you don't need a Gartman Letter to get a check in the mail, especially when Aéropostale (NYSE:ARO) - utterly unloved on Friday - suddenly bounced back to the tune of 14.96% as the S&P 500 (INDEXSP:.INX) rose to another record. Ex-Dow (INDEXDJX:.DJI) component Bank of America (NYSE:BAC) gained 3.40% after The Thundering Herd met the blundering word, with a $4 billion accounting error related to its acquisition of Merrill Lynch now being blamed on a change in the Fed's grammar. Equities earlier got a boost from a 0.8% increase in durable goods, again blindsiding expensively compensated economists who called for a decrease of 0.7%. An odd time, then, for Pimco to appoint Paul McCulley its first-ever chief economist. At least Bill Gross, after his Mohamed El-Erian mess, has finally found his heir apparent. Or should I say hair, for Mr. McCulley's legendary locks are head and shoulders above anything else in the financial industry.
 
Speaking of the dismal science, it's quite a quiet day in economic data, but expect quarterly earnings announcements out of Michael Kors (NYSE:KORS), Palo Alto Networks (NYSE:PANW), Popeyes Louisiana Kitchen (NASDAQ:PLKI), and Toll Brothers (NYSE:TOL).
 
Now let's look at this morning's rating reductions, an eclectic bunch that features a British telecom titan, Dutch supermarket stock, and Swiss watchmaker in addition to our headline equity Lowe's.

Ahold (OTCMKTS:AHONY): The grocery giant from Holland is moved to Market Perform from Outperform at Raymond James.
 
Dollar General (NYSE:DG): Deutsche Bank downgrades DG to Hold from Buy at Deutsche Bank. Its target price is also taken lower, by $5 to $60.
 
Hillshire Brands (NYSE:HSH): The stock, which yesterday jumped an NYSE-best 22.07% on takeover talk, is today taken to Perform from Outperform by BMO Capital. Its amended price objective is $49.
 
Live Nation Entertainment (NYSE:LYV): Sterne Agee lowers LYV to Neutral from Buy.
 
Lowe's: Shares get slashed to Sell from Hold at Canaccord Genuity, which also cuts its target by $10 to $37.
 
Nautilus (NYSE:NLS): Due to valuation issues, shares are now Neutral from Buy at B. Riley & Co.
 
Swatch (OTCMKTS:SWGAY): Société Générale slashes the Swiss watch stock to Hold from Buy.
 
Vodafone (NASDAQ:VOD): The British phone firm is downgraded to Hold from Buy by Berenberg.

Also see:

New Stock Coverage: Pfizer Profits From Purple Pill Poppers

Stock Upgrades: Twitter's Bluebird Is the Bee's Knees
< 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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