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Stock Downgrades: Wynn Losses Won't Stay in Vegas


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

When even Kate Upton can't stimulate Mr. Market, we've got a problem. The two-time Sports Illustrated cover girl has historically been awesome for equities. But, freshly back on its front page, even she was powerless to prevent the Dow (INDEXDJX:.DJI) from dropping for a ninth time in 11 sessions. And adding insult to injury for the buxom beauty, Whirlpool (NYSE:WHR) - founded by her great grandfather - was again taken to the cleaners and ended off another 1.55%.

In standout stocks, Bill Ackman's favorite short, Herbalife (NYSE:HLF), slumped 6.62%, even as he misspelled the firm who employs an analyst he dissed. (Since yours truly just called the owner of a near-perfect 1530 SAT score a "clever clogs," as you can imagine, I feel sic.) Speaking of analysts, Citigroup's (NYSE:C) Apple (NASDAQ:AAPL) analyzer found himself in hot water -- this as the bank boosted its arch-rival BlackBerry (NASDAQ:BBRY). Its shares still tumbled 2.89%, perhaps because some investors remember that the bank wasn't always so well disposed to the Canadian company's gadgets. On Wall Street, it is often "do as I say, not as I do."

September's employment report, originally due for release at 8:30 a.m. Eastern, has been postponed due to the government shutdown. In earnings action, Taiwanese smartphone provider HTC Corporation (OTCMKTS:HTCKF) announced its first ever quarterly loss earlier today. Here at home, sandwich shop Potbelly (NASDAQ:PBPB) is expected to start trading this morning after pricing its initial public offering at $14 per share.

Acxiom (NASDAQ:ACXM): The information technology outfit gets downgraded to Underperform from Market Perform by BMO Capital Markets.

Align Technology (NASDAQ:ALGN): Amid an excessive valuation, Robert W. Baird takes the teeth-straightening outfit whose clients include Justin Bieber to Neutral from Outperform.

Cepheid (NASDAQ:CPHD): Shares are slashed to Sell from Cautious with a $34 price objective at ISI Group, whose concerns include heightened competition.

Chico's FAS (NYSE:CHS): The clothing company is cut to Market Perform from Outperform with Wells Fargo.

CSX Corporation (NYSE:CSX): The stock, falling before the bell, is now Neutral from Buy at Citigroup.

H.B. Fuller (NYSE:FUL): Deutsche Bank downgrades FUL to Hold from Buy.

Intrepid Potash (NYSE:IPI): The fertilizer firm is moved to Underweight from Equal-Weight at Morgan Stanley

Sirona Dental Systems (NASDAQ:SIRO): Bank of America-Merrill Lynch lowers the equity by an unusual 180 degrees, to Underperform from Buy.

Tesoro (NYSE:TSO): Oppenheimer takes the refiner to Outperform to Perform due to a deteriorating earnings outlook.

US Airways Group Inc (NYSE:LCC): Shares, begun with a bullish Buy rating elsewhere this morning, are also cut to Fair Value from Buy at CRT Capital. Merger-related Justice Department issues loom large, the brokerage believes.

Wynn Resorts, Limited (NASDAQ:WYNN): The Sin City casino company is now Neutral from Outperform at Credit Suisse, which says the stock is now appropriately valuated.

(See also: Stock Upgrades: Exxon Mobil, OpenTable, and Moneygram International and New Stock Coverage: US Airways, JDS Uniphase, and 21st Century Fox.)

Disclosure: Minyanville Studios, a division of Minyanville Media, has a business relationship with BlackBerry.
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