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Stock Downgrades: Stern Warning for Sirius XM

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

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As snow blanketed the New York Stock Exchange, US markets rose after investors shrewdly reassessed the reliability of the fabled "January barometer." As goes January, so goes the year? The Dow's (INDEXDJX:.DJI) single best month in its entire history was a 13.8% surge in January 1987. That year, if memory serves, did not end well, so no, the metric isn't infallible. Among stocks on the move, Kentucky Fried Chicken (sorry, KFC) owner Yum Brands (NYSE:YUM) jumped 8.92%, so those 312.5 million of our feathered friends did not just die in vain. RadioShack (NYSE:RSH) fell 4.84% after airing its 1980s ad on what was a decidedly difficult day for its star and proud son of Puerto Rico Erik Estrada. J.C. Penney (NYSE:JCP), another retailer that pines for an earlier era, tumbled 10.56% to its lowest level since December 1980. That month a rinky-dink tech company went public, answering to the name of Apple (NASDAQ:AAPL).

Today in economics, the Institute for Supply Management releases its January services index at 10:00 a.m. Eastern, with economists expecting an improvement on the prior month's pace. In earnings action, Green Mountain Coffee Roasters (NASDAQ:GMCR), Marathon Oil (NYSE:MRO), Merck (NYSE:MRK), Pandora (NASDAQ:P), Ralph Lauren (NYSE:RL), Time Warner (NYSE:TWX), and Twitter (NYSE:TWTR) are all due to release results.

AGCO Corp (NYSE:AGCO): Shares are moved to Market Perform from Outperform by BMO Capital Markets. Its price objective, previously $65, is slashed to $50.

Angie's List (NASDAQ:ANGI): Bank of America-Merrill Lynch lowers the stock to Neutral from Buy.

CSG Systems (NASDAQ:CSGS): The company is now Underweight from Neutral at JPMorgan.

James River Coal (NASDAQ:JRCC): Shares, which tumbled 27.96% yesterday, are now Neutral from Buy at Sterne Agee.

Myriad Genetics (NASDAQ:MYGN): The stock, surging some 11.85% as we speak, is nonetheless lowered to Neutral from Buy by Ladenburg.

Oasis Petroleum (NYSE:OAS): Goldman Sachs pulls the energy outfit from its Conviction Buy list.

Sirius XM Holdings (NASDAQ:SIRI): More woe for Howard Stern, fresh from being described as looking "like a cartoon of a Jewish female horse" in a recent roast by Lena Dunham. Today Sirius XM Holdings, home of the shock jock, gets taken to Hold from Buy with Wunderlich. Its target price is also taken lower, to $3.80 from $4.20, amid what the broker believes is the lessened likelihood of a deal with Liberty Media (NASDAQ:LMCA).

ThyssenKrupp (OTCMKTS:TYEKF): The German steel giant is now Underweight from Neutral at HSBC Securities.

Triumph Group (NYSE:TGI): TGI gets taken to Neutral from Buy at Bank of America-Merrill. The target is trimmed by $10 to $73.

See also:

New Stock Coverage: Fossil Starts to Show Its Age

Stock Upgrades: Gray Television Should See Fifty Shades of Green
No positions in stocks mentioned.
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