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Stock Downgrades: Orbitz Is Heading South in a Hurry

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

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Microsoft (NASDAQ:MSFT) stock goes through the stratosphere amid more saber rattling in Russia. The mid-'80s called, in all their acid-washed, mullet-wearing glory, and asked for their narrative back. (They did so on Gordon Gekko's brick, which even now is infinitely more reliable than any BRIC.) The suddenly resurgent tech titan lead the Dow (INDEXDJX:.DJI) higher with its 3.94% increase. It hasn't been this high since 2000. That year we elected the leader of the free world like this, so I am 96.8% certain America can't be too tough on Russian vote-rigging in Crimea. Ralph Lauren (NYSE:RL) rode a broker boost to jump 1.42%, which will please Mr. Lifschitz, and Delta Air Lines (NYSE:DAL) dropped 0.38% on an otherwise enormous up day, which will delight his niece. Video game stock GameStop (NYSE:GME) gapped down 3.42% to post easily the S&P 500′s (INDEXSP:.INX) poorest performance. This, even as we have a fresh reason to be thankful to Muscovite Alexey Pajitnov, who invented the most addictive one of them all in the Cold War. And Twitter (NYSE:TWTR) tumbled 1.77% after a chess champion took to the medium to suggest we get back at Russia by ransacking the billionaire oligarchs from Forbes. Asking one of them to hand back Malcolm's eggs would be a good start.
 
This afternoon at 2:00 p.m. Eastern the Federal Open Market Committee concludes its two-day policy meeting, followed by Janet Yellen's first press conference as Fed head at 2:30 p.m. On the earnings front, FedEx (NYSE:FDX), General Mills (NYSE:GIS), and KB Home (NYSE:KBH) all release results.
 
Antofagasta (OTCMKTS:ANFGY): Shares are trading sharply lower in London today after getting cut to Underperform from Neutral at Credit Suisse.
 
HSBC Holdings (NYSE:HSBC): Credit Suisse reduces its fellow financial firm substantially, to Underperform from Outperform.
 
ION Geophysical (NYSE:IO): IO is downgraded to Equal Weight from Overweight by Barclays, which also trims its target price by $1 to $4.
 
J. Sainsbury (OTCMKTS:JSAIY): The British grocer gets downgraded to Underweight from Neutral at HSBC Securities.
 
LATAM Airlines (NYSE:LFL): Raymond James lowers LFL to a still-bullish Outperform from Strong Buy.
 
Orbitz Worldwide (NYSE:OWW): Shares in the online travel outfit are sliding some 6.15% as we speak after getting slashed to Sell from Neutral at Goldman Sachs.
 
Susser (NYSE:SUSS): The stock is moved to Market Perform from Outperform at Raymond James.
 
WisdomTree (NASDAQ:WETF): Citigroup cuts the company to Sell from Neutral.
 
Yingli Green Energy (NYSE:YGE): Bank of America-Merrill Lynch lowers the equity to Neutral from Buy.

Also see:

New Stock Coverage: Stuff Your Money in Mattress Firm Holding

Stock Upgrades: Margaret Thatcher Didn't Do U-Turns, but Rolls-Royce Does
No positions in stocks mentioned.
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