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Stock Downgrades: Travelers Going Nowhere Fast
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Key blue-chip component The Travelers Companies (NYSE:TRV) yesterday hit the highest level in its entire history. Investors have been attracted to its strong financial footing and solid dividend yield. However, a resultant rich valuation sees the property-casualty insurer suffer a rating reduction this morning.
 
On Monday Mr. Jones (INDEXDJX:.DJI), Travelers included, met The Smiths. Stocks did indeed Oscillate Wildly to start the week, endlessly fluctuating between gains and losses in a seesaw before ultimately eking out a small increase. Argentina was even more morose than Morrissey on a Monday morning after a court setback sent the country's Merval Index (BCBA:IMV) tumbling 10.09%. Its incomparable Lionel Messi is a soccer giant at only 5'7″ but investors seriously shorted Buenos Aires-based electric utility Empresa Distribuidora y Comercializadora Norte Cl B ADS (NYSE:EDN) as it fell 14.57%. A penny (or devalued peso) for the thoughts of Argentina's pope after his homeland now has to rob Peter to pay Paul Singer. The pontiff, named after animal-loving Saint Francis of Assisi, would at least have enjoyed Bluebird Bio (NASDAQ:BLUE) jumping 32.08% to top all Nasdaq (INDEXNASDAQ:.IXIC) issues. This, even as Twitter's (NYSE:TWTR) bluebird, up 3.04%, gained for a sixth straight session in its best run as a public company. By contrast, Yahoo (NASDAQ:YHOO) fell for the first time in nine, and did so in spectacular fashion. It plunged 5.77% after badly botching the password for Alibaba. Clearly, Marissa Mayer must have missed that cartoon in the new New Yorker.
 
Today the Federal Reserve starts its two-day policy meeting in Washington, DC. In earnings action, Adobe Systems (NASDAQ:ADBE) and La-Z-Boy (NYSE:LZB) each release results.
 
Now let's look at this morning's rating reductions, an eclectic bunch that features both a money manager and building materials behemoth in addition to headline equity The Travelers Companies.

Access Midstream Partners (NYSE:ACMP): Shares are cut to Neutral from Buy at Ladenburg Thalmann.
 
Domino's Pizza (NYSE:DPZ): Bank of America Merrill Lynch lowers its investment assessment on the fast food firm to Underperform from Neutral.
 
Moelis (NYSE:MC): The money manager gets moved to Neutral from Buy at UBS.
 
Ply Gem Holdings (NYSE:PGEM): Goldman Sachs slashes the building materials stock to Sell from Neutral.
 
The Travelers Companies: Today's headline rating reduction is now Market Perform from Outperform by BMO Capital. Its price objective is $98.
 
Triumph Group (NYSE:TGI): Bank of America Merrill takes TGI to Underperform from Neutral.
 
United Rentals (NYSE:URI): The stock gets downgraded to Neutral from Buy at Longbow.
 
West Corp (NASDAQ:WSTC): Morgan Stanley moves the equity to Equal Weight from Overweight.

Also see:

Stock Upgrades: Southwest Airlines Heads North

New Stock Coverage: Orbitz About to Take Off
 
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: Travelers Going Nowhere Fast
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Key blue-chip component The Travelers Companies (NYSE:TRV) yesterday hit the highest level in its entire history. Investors have been attracted to its strong financial footing and solid dividend yield. However, a resultant rich valuation sees the property-casualty insurer suffer a rating reduction this morning.
 
On Monday Mr. Jones (INDEXDJX:.DJI), Travelers included, met The Smiths. Stocks did indeed Oscillate Wildly to start the week, endlessly fluctuating between gains and losses in a seesaw before ultimately eking out a small increase. Argentina was even more morose than Morrissey on a Monday morning after a court setback sent the country's Merval Index (BCBA:IMV) tumbling 10.09%. Its incomparable Lionel Messi is a soccer giant at only 5'7″ but investors seriously shorted Buenos Aires-based electric utility Empresa Distribuidora y Comercializadora Norte Cl B ADS (NYSE:EDN) as it fell 14.57%. A penny (or devalued peso) for the thoughts of Argentina's pope after his homeland now has to rob Peter to pay Paul Singer. The pontiff, named after animal-loving Saint Francis of Assisi, would at least have enjoyed Bluebird Bio (NASDAQ:BLUE) jumping 32.08% to top all Nasdaq (INDEXNASDAQ:.IXIC) issues. This, even as Twitter's (NYSE:TWTR) bluebird, up 3.04%, gained for a sixth straight session in its best run as a public company. By contrast, Yahoo (NASDAQ:YHOO) fell for the first time in nine, and did so in spectacular fashion. It plunged 5.77% after badly botching the password for Alibaba. Clearly, Marissa Mayer must have missed that cartoon in the new New Yorker.
 
Today the Federal Reserve starts its two-day policy meeting in Washington, DC. In earnings action, Adobe Systems (NASDAQ:ADBE) and La-Z-Boy (NYSE:LZB) each release results.
 
Now let's look at this morning's rating reductions, an eclectic bunch that features both a money manager and building materials behemoth in addition to headline equity The Travelers Companies.

Access Midstream Partners (NYSE:ACMP): Shares are cut to Neutral from Buy at Ladenburg Thalmann.
 
Domino's Pizza (NYSE:DPZ): Bank of America Merrill Lynch lowers its investment assessment on the fast food firm to Underperform from Neutral.
 
Moelis (NYSE:MC): The money manager gets moved to Neutral from Buy at UBS.
 
Ply Gem Holdings (NYSE:PGEM): Goldman Sachs slashes the building materials stock to Sell from Neutral.
 
The Travelers Companies: Today's headline rating reduction is now Market Perform from Outperform by BMO Capital. Its price objective is $98.
 
Triumph Group (NYSE:TGI): Bank of America Merrill takes TGI to Underperform from Neutral.
 
United Rentals (NYSE:URI): The stock gets downgraded to Neutral from Buy at Longbow.
 
West Corp (NASDAQ:WSTC): Morgan Stanley moves the equity to Equal Weight from Overweight.

Also see:

Stock Upgrades: Southwest Airlines Heads North

New Stock Coverage: Orbitz About to Take Off
 
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: Travelers Going Nowhere Fast
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

Key blue-chip component The Travelers Companies (NYSE:TRV) yesterday hit the highest level in its entire history. Investors have been attracted to its strong financial footing and solid dividend yield. However, a resultant rich valuation sees the property-casualty insurer suffer a rating reduction this morning.
 
On Monday Mr. Jones (INDEXDJX:.DJI), Travelers included, met The Smiths. Stocks did indeed Oscillate Wildly to start the week, endlessly fluctuating between gains and losses in a seesaw before ultimately eking out a small increase. Argentina was even more morose than Morrissey on a Monday morning after a court setback sent the country's Merval Index (BCBA:IMV) tumbling 10.09%. Its incomparable Lionel Messi is a soccer giant at only 5'7″ but investors seriously shorted Buenos Aires-based electric utility Empresa Distribuidora y Comercializadora Norte Cl B ADS (NYSE:EDN) as it fell 14.57%. A penny (or devalued peso) for the thoughts of Argentina's pope after his homeland now has to rob Peter to pay Paul Singer. The pontiff, named after animal-loving Saint Francis of Assisi, would at least have enjoyed Bluebird Bio (NASDAQ:BLUE) jumping 32.08% to top all Nasdaq (INDEXNASDAQ:.IXIC) issues. This, even as Twitter's (NYSE:TWTR) bluebird, up 3.04%, gained for a sixth straight session in its best run as a public company. By contrast, Yahoo (NASDAQ:YHOO) fell for the first time in nine, and did so in spectacular fashion. It plunged 5.77% after badly botching the password for Alibaba. Clearly, Marissa Mayer must have missed that cartoon in the new New Yorker.
 
Today the Federal Reserve starts its two-day policy meeting in Washington, DC. In earnings action, Adobe Systems (NASDAQ:ADBE) and La-Z-Boy (NYSE:LZB) each release results.
 
Now let's look at this morning's rating reductions, an eclectic bunch that features both a money manager and building materials behemoth in addition to headline equity The Travelers Companies.

Access Midstream Partners (NYSE:ACMP): Shares are cut to Neutral from Buy at Ladenburg Thalmann.
 
Domino's Pizza (NYSE:DPZ): Bank of America Merrill Lynch lowers its investment assessment on the fast food firm to Underperform from Neutral.
 
Moelis (NYSE:MC): The money manager gets moved to Neutral from Buy at UBS.
 
Ply Gem Holdings (NYSE:PGEM): Goldman Sachs slashes the building materials stock to Sell from Neutral.
 
The Travelers Companies: Today's headline rating reduction is now Market Perform from Outperform by BMO Capital. Its price objective is $98.
 
Triumph Group (NYSE:TGI): Bank of America Merrill takes TGI to Underperform from Neutral.
 
United Rentals (NYSE:URI): The stock gets downgraded to Neutral from Buy at Longbow.
 
West Corp (NASDAQ:WSTC): Morgan Stanley moves the equity to Equal Weight from Overweight.

Also see:

Stock Upgrades: Southwest Airlines Heads North

New Stock Coverage: Orbitz About to Take Off
 
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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