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Stock Downgrades: Analyst Is So Over Under Armour


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

"Uh, so, I, I, you know, this is the kind of term it's hard to define, but, um, you know, probably means, uh, something on the order of around six months, or that type of thing, but, um, you know it depends." Oh dear. The Fed head has my sympathies -- as a journalist, I similarly write far better than I speak, having been told that my attempts to talk come across as "Woody Allen on crack." Yet when your name is Yellen, you really should, if not shout, then certainly choose words with greater care than was the case yesterday. Especially when you are so big on communication that you once made a major policy speech on the subject at the Society of American Business Editors and Writers. After the muddled message, Dow Industrials (INDEXDJX:.DJI) dropped by triple digits, but the late, great, Muriel Siebert -- the sliver-haired "first lady of finance" long before Ms. Yellen took over that title -- could at least crack a celestial smile as her Siebert Financial (NASDAQ:SIEB) surged 58.82%. Margaret Thatcher, who never needed lessons in straight talk, would have similarly enjoyed Rolls-Royce (OTCMKTS:RYCEY), the company she freed from state control, end up after a broker boost. Venerable law firm Simpson Thacher (no relation) was in the news after one of its employees ate a napkin to better digest inside information. He would have been better advised to instead put his money where his mouth is in resurgent Verso Paper (NYSE:VRS), which added on another 4.10%. And for all the travails of our central bank chief, the lassies still fared far better than the lads as British bookmaker Ladbrokes (OTCMKTS:LDBKY) tumbled 10.57%. Instead of winning big for its 2,000-1 zombie apocalypse odds, the stock is now a dead man walking.
Today in economics, February existing home sales and leading indicators, along with the Philadelphia Fed index for March, are all out at 10:00 a.m. Eastern. Expect corporate earnings announcements from ConAgra Foods (NYSE:CAG), Lennar Homes (NYSE:LEN), and Nike (NYSE:NKE).
American Residential Properties (NYSE:ARPI): Bank of America-Merrill Lynch lowers its recommendation to Underperform from Neutral.
Bally Technologies (NYSE:BYI): Shares get slashed to Sell from Neutral at Goldman Sachs.
JB Hunt Transport (NASDAQ:JBHT): Bank of America-Merrill moves the stock to Neutral from Buy. Its amended price objective is $78.
NII Holdings (NASDAQ:NIHD): NIHD is now Market Perform from Outperform with Wells Fargo.
Oracle (NYSE:ORCL): Argus inflicts a post-earnings downgrade on the tech titan, taking it to Hold from Buy.
Signature Bank (NASDAQ:SBNY): Shares are reduced to Perform from Outperform at Oppenheimer, which is concerned about the prospect of slowing loan growth.
Synchronoss Technologies (NASDAQ:SNCR): Raymond James cuts the company to Outperform from Strong Buy.
Under Armour (NYSE:UA): The stock is tumbling 2.22% as we speak after getting downgraded to Neutral from Buy at Sterne Agee. Valuation issues are understandably cited after the stock, now up 145.94% in 12 months alone, yesterday hit a historic high.
UtilitiesAmeren (NYSE:AEE) (Sell from Neutral), NextEra Energy (NYSE:NEE) (removed from the Conviction Buy list), Westar Energy (NYSE:WR) (Neutral from Buy), and Xcel Energy (XEL) (Sell from Neutral) all get downgraded at Goldman Sachs.
Williams Companies (NYSE:WMB): Shares are now Hold from Buy at Jefferies.

See also:

New Stock Coverage: First Day of Spring Too Late to Enjoy Aruba

Stock Upgrades: From Russia With Love? Yum Brands Is Good Enough for Gorbachev
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