Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Stock Downgrades: Tilly's Is a Total Turkey

By

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

PrintPRINT
Macy's (NYSE:M) inflatable objects might not get off the ground this Thanksgiving, but why bother with balloons tomorrow when we're in a bubble today? With assistance from another Miracle on 34th Street - the retailer rose 1.26% to hit its highest level ever - there is indeed much to be thankful for on Wall Street. US stock markets rose to records, with the Dow (INDEXDJX:.DJI) now up for four straight sessions. As for Nasdaq (INDEXNASDAQ:.IXIC), it hit 4000 for the first time since September 2000, even as its grassy Noll stepped off the greasy poll. Tiffany & Co. (NYSE:TIF) topped the S&P 500 Index (INDEXSP:.INX) after touching an all-time best of $88.88 after announcing blingy sales to Beijing. (No wonder eight is a lucky number in China.) In the words of what Advertising Age called the "slogan of the century," a diamond is indeed forever. That matrimonial jingle was, ironically, the work of two lifelong spinsters. As for the Mad Men they loved and lost, Omnicom Group (NYSE:OMC), home to real-life Don Drapers, gained 1.20% to a historic best.

Other than Frontline (NYSE:FRO), which reported results three hours ago, it is slim pickings for earnings announcements today. In terms of economic events that may move US stock markets this morning, at 9:55 a.m. Eastern the University of Michigan's final figure for November consumer confidence is expected to post an improvement from the preliminary pace announced earlier in the month. At 10:00 a.m., analysts expect October leading indicators to slip from September's rate. US markets will be closed tomorrow in observance of Thanksgiving.

Analog Devices (NASDAQ:ADI): Following fourth-quarter earnings that revealed weaker than expected revenue, Drexel Hamilton downgrades the tech stock to Hold from Buy.

Copa Holdings (NYSE:CPA): Shares are slashed to Sell from Neutral at UBS.

Denny's (NASDAQ:DENN): The restaurant stock gets reduced to Neutral from Buy at Janney Montgomery Scott. Yesterday's 2.74% jump has left the stock with limited upside, in the broker's estimation.

Gap Inc. (NYSE:GPS): Argus cuts the clothing company to Hold from Buy.

Intel (NASDAQ:INTC): Intel, a key Dow member, is trading lower today after being moved to Sector Perform from Outperform at RBC Capital. Its price objective on Intel, previously $27, is trimmed by $1. There are issues in both the mobile arena and Intel's return on investment, according to the investment house.

Signature Bank (NASDAQ:SBNY): Shares are now Neutral from Buy at Sterne Agee.

Tilly's Inc. (NYSE:TLYS): There is triple pre-Turkey Day trouble for Tilly's this morning. The adolescent apparel outfit gets cut by Goldman Sachs (Neutral from Buy), SunTrust (also Neutral from Buy, with its target price taken to $13 from $20), and William Blair (Market Perform from Outperform). Shares in Tilly's are currently tumbling 26.01% ahead of the open.

TiVo Inc. (NASDAQ:TIVO): TiVo is taken to Equal Weight from Overweight at Evercore. Its concerns over TiVo include cautious fiscal fourth-quarter 2014 earnings guidance.

(See also: New Stock Coverage: Buy Cedar Fair Before Eating Fowl and Stock Upgrades: Hewlett-Packard Parties Like It's 1939)
< 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.
PrintPRINT

Busy? Subscribe to our free newsletter!

Submit
 

WHAT'S POPULAR IN THE VILLE