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Stock Downgrades: Wynn Losses Won't Stay in Vegas

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

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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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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.

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