Thank you very much;
you're only a step away from
downloading your reports.
Stock Downgrades: Ominous New Wrinkle at Allergan
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

These days there is never a dull moment at Botox owner Allergan (NYSE:AGN). Only last Wednesday it was the poorest performer on the entire S&P 500 Index (INDEXSP:.INX), yet yesterday the stock jumped 2.86% to a historic high. The company is currently at the center of a contentious, and unusually structured, hostile bidding war involving both Valeant Pharmaceuticals (NYSE:VRX) and activist investor Bill Ackman.
 
In the stock market, corrections really are like London buses. You wait two years for one and then a bunch arrive on the same day. Thus did the Dow (INDEXDJX:.DJI) and the S&P 500 (INDEXSP:.INX) each reach fresh peaks even after US manufacturing data was badly botched. (Equities also got a boost by Beijing's Politburo proudly announcing the fastest increase of the year in manufacturing output in China, where the data is of course always above reproach.) Among equities on the move, Google (NASDAQ:GOOG) gapped down 1.06% after announcing it intends to spend more than $1 billion on satellites for those poor souls who still lack Internet access. Soo old school. Gannett (NYSE:GCI), whose USA Today has been printed by satellite ever since 1982, gained 3.96% after being boosted by Barron's. Elsewhere Apple Inc. (NASDAQ:AAPL) slipped 0.69% as investors ended their recent infatuation with the equity even amid its annual Worldwide Developers Conference. Hey, Dre did say: "I can't make you love me." Hip-hop did indeed deserve a bad rap yesterday as 50 Cent -- the singer with less than perfect pitch -- in concert with a broker boost both proved powerless to prevent Starz (NASDAQ:STRZA) falling 0.10%.
 
Today in economics, factory orders for April are expected to contract from the prior month's pace at 10:00 a.m. EDT. On the earnings front, Ascena Retail (NASDAQ:ASNA), Dollar General (NYSE:DG), and FuelCell Energy (NASDAQ:FCEL) all release results.
 
Now let's look at this morning's rating reductions, an eclectic bunch that features a Dutch beer giant and French yogurt firm, plus headline stock Allergan.

Allergan: Shares are now Neutral from Outperform at Credit Suisse.
 
Cash America International (NYSE:CSH): Janney cuts the company to Neutral from Buy.
 
Centene Corp (NYSE:CNC): The stock gets slashed to Sell from Neutral at Citigroup.
 
Clovis Oncology (NASDAQ:CLVS): Citi reduces its rating to Neutral from Buy.
 
Danone (OTCMKTS:DANOY): Shares are slipping in today's European trading after getting downgraded to Sell from Neutral at Goldman Sachs.
 
Heineken (OTCMKTS:HEINY): Goldman gives the Dutch brewing behemoth a Sell-from-Neutral slash, sending its stock lower in this morning's overseas action.
 
Oil States International (NYSE:OIS): OIS is lowered to Neutral from Positive at Susquehanna. Its price objective, previously $114, falls all the way to $67.
 
Quiksilver (NYSE:ZQK): The stock, slumping some 35.23% ahead of the open after an earnings miss, gets downgraded to Hold from Buy at Stifel.
 
W.R. Grace (NYSE:GRA): Goldman Sachs pulls shares from their list of Conviction Buys.

Also see:

New Stock Coverage: MeadWestvaco Is a (Trapper) Keeper

Stock Upgrades: Even Without Snow White, Huntsman Is a Fairy Tale
< 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: Ominous New Wrinkle at Allergan
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

These days there is never a dull moment at Botox owner Allergan (NYSE:AGN). Only last Wednesday it was the poorest performer on the entire S&P 500 Index (INDEXSP:.INX), yet yesterday the stock jumped 2.86% to a historic high. The company is currently at the center of a contentious, and unusually structured, hostile bidding war involving both Valeant Pharmaceuticals (NYSE:VRX) and activist investor Bill Ackman.
 
In the stock market, corrections really are like London buses. You wait two years for one and then a bunch arrive on the same day. Thus did the Dow (INDEXDJX:.DJI) and the S&P 500 (INDEXSP:.INX) each reach fresh peaks even after US manufacturing data was badly botched. (Equities also got a boost by Beijing's Politburo proudly announcing the fastest increase of the year in manufacturing output in China, where the data is of course always above reproach.) Among equities on the move, Google (NASDAQ:GOOG) gapped down 1.06% after announcing it intends to spend more than $1 billion on satellites for those poor souls who still lack Internet access. Soo old school. Gannett (NYSE:GCI), whose USA Today has been printed by satellite ever since 1982, gained 3.96% after being boosted by Barron's. Elsewhere Apple Inc. (NASDAQ:AAPL) slipped 0.69% as investors ended their recent infatuation with the equity even amid its annual Worldwide Developers Conference. Hey, Dre did say: "I can't make you love me." Hip-hop did indeed deserve a bad rap yesterday as 50 Cent -- the singer with less than perfect pitch -- in concert with a broker boost both proved powerless to prevent Starz (NASDAQ:STRZA) falling 0.10%.
 
Today in economics, factory orders for April are expected to contract from the prior month's pace at 10:00 a.m. EDT. On the earnings front, Ascena Retail (NASDAQ:ASNA), Dollar General (NYSE:DG), and FuelCell Energy (NASDAQ:FCEL) all release results.
 
Now let's look at this morning's rating reductions, an eclectic bunch that features a Dutch beer giant and French yogurt firm, plus headline stock Allergan.

Allergan: Shares are now Neutral from Outperform at Credit Suisse.
 
Cash America International (NYSE:CSH): Janney cuts the company to Neutral from Buy.
 
Centene Corp (NYSE:CNC): The stock gets slashed to Sell from Neutral at Citigroup.
 
Clovis Oncology (NASDAQ:CLVS): Citi reduces its rating to Neutral from Buy.
 
Danone (OTCMKTS:DANOY): Shares are slipping in today's European trading after getting downgraded to Sell from Neutral at Goldman Sachs.
 
Heineken (OTCMKTS:HEINY): Goldman gives the Dutch brewing behemoth a Sell-from-Neutral slash, sending its stock lower in this morning's overseas action.
 
Oil States International (NYSE:OIS): OIS is lowered to Neutral from Positive at Susquehanna. Its price objective, previously $114, falls all the way to $67.
 
Quiksilver (NYSE:ZQK): The stock, slumping some 35.23% ahead of the open after an earnings miss, gets downgraded to Hold from Buy at Stifel.
 
W.R. Grace (NYSE:GRA): Goldman Sachs pulls shares from their list of Conviction Buys.

Also see:

New Stock Coverage: MeadWestvaco Is a (Trapper) Keeper

Stock Upgrades: Even Without Snow White, Huntsman Is a Fairy Tale
< 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: Ominous New Wrinkle at Allergan
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

These days there is never a dull moment at Botox owner Allergan (NYSE:AGN). Only last Wednesday it was the poorest performer on the entire S&P 500 Index (INDEXSP:.INX), yet yesterday the stock jumped 2.86% to a historic high. The company is currently at the center of a contentious, and unusually structured, hostile bidding war involving both Valeant Pharmaceuticals (NYSE:VRX) and activist investor Bill Ackman.
 
In the stock market, corrections really are like London buses. You wait two years for one and then a bunch arrive on the same day. Thus did the Dow (INDEXDJX:.DJI) and the S&P 500 (INDEXSP:.INX) each reach fresh peaks even after US manufacturing data was badly botched. (Equities also got a boost by Beijing's Politburo proudly announcing the fastest increase of the year in manufacturing output in China, where the data is of course always above reproach.) Among equities on the move, Google (NASDAQ:GOOG) gapped down 1.06% after announcing it intends to spend more than $1 billion on satellites for those poor souls who still lack Internet access. Soo old school. Gannett (NYSE:GCI), whose USA Today has been printed by satellite ever since 1982, gained 3.96% after being boosted by Barron's. Elsewhere Apple Inc. (NASDAQ:AAPL) slipped 0.69% as investors ended their recent infatuation with the equity even amid its annual Worldwide Developers Conference. Hey, Dre did say: "I can't make you love me." Hip-hop did indeed deserve a bad rap yesterday as 50 Cent -- the singer with less than perfect pitch -- in concert with a broker boost both proved powerless to prevent Starz (NASDAQ:STRZA) falling 0.10%.
 
Today in economics, factory orders for April are expected to contract from the prior month's pace at 10:00 a.m. EDT. On the earnings front, Ascena Retail (NASDAQ:ASNA), Dollar General (NYSE:DG), and FuelCell Energy (NASDAQ:FCEL) all release results.
 
Now let's look at this morning's rating reductions, an eclectic bunch that features a Dutch beer giant and French yogurt firm, plus headline stock Allergan.

Allergan: Shares are now Neutral from Outperform at Credit Suisse.
 
Cash America International (NYSE:CSH): Janney cuts the company to Neutral from Buy.
 
Centene Corp (NYSE:CNC): The stock gets slashed to Sell from Neutral at Citigroup.
 
Clovis Oncology (NASDAQ:CLVS): Citi reduces its rating to Neutral from Buy.
 
Danone (OTCMKTS:DANOY): Shares are slipping in today's European trading after getting downgraded to Sell from Neutral at Goldman Sachs.
 
Heineken (OTCMKTS:HEINY): Goldman gives the Dutch brewing behemoth a Sell-from-Neutral slash, sending its stock lower in this morning's overseas action.
 
Oil States International (NYSE:OIS): OIS is lowered to Neutral from Positive at Susquehanna. Its price objective, previously $114, falls all the way to $67.
 
Quiksilver (NYSE:ZQK): The stock, slumping some 35.23% ahead of the open after an earnings miss, gets downgraded to Hold from Buy at Stifel.
 
W.R. Grace (NYSE:GRA): Goldman Sachs pulls shares from their list of Conviction Buys.

Also see:

New Stock Coverage: MeadWestvaco Is a (Trapper) Keeper

Stock Upgrades: Even Without Snow White, Huntsman Is a Fairy Tale
< 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.
EDITOR'S PICKS
 
WHAT'S POPULAR