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Stock Downgrades: BP Still Unable to Bridge The Gulf

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

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MINYANVILLE ORIGINAL Ben Bernanke, who turned 59 yesterday, may not unfortunately possess anything like the predictive powers of today's birthday boy Nostradamus, but the Fed head could at least take some solace in the performance of his favorite newspaper, the Washington Post (WPO), which rose 1.49% in showing strength for a second straight day even as most stocks dropped.

Producer prices came in tame even as the government mulls a change to how it classifies inflation. And why not? It tried to re-brand pizza as a vegetable, and yesterday Domino's (DPZ) hit the highest level in its history.

Today's earnings announcements are expected to include London Mining (PINK:LIIGY), North West Company (NWC), Ocean Power Technologies (OPTT), Oxygen Biotherapeutics (OXBT), and Rick's Cabaret International (RICK).

Anglo American (PINK: AAUKY) The commodity company is now Neutral from Buy at UBS.

AstraZeneca (AZN): Société Générale slashes the stock to Sell from Hold.

BP Plc (NYSE:BP): Shares are lower in London on a downgrade at Credit Suisse to Neutral from Outperform, citing a lack of near-term momentum over two years after the Gulf of Mexico explosion.

Ciena (CIEN): CIEN is moved to Market Perform from Outperform at BMO Capital.

Ethan Allen Interiors (ETH): The stock is downgraded to Hold from Buy at Stifel Nicolaus.

Exxon Mobil (XOM): The Dow (^DJI) name is now Neutral from Buy at Goldman, which takes its target to $97 from $100.

Leap Wireless (LEAP): LEAP is lowered to Perform from Outperform at Oppenheimer.

NASDAQ OMX Group (NDAQ): Shares are now Market Perform from Outperform at Keefe Bruyette.

Total S.A. (TOT): TOT is taken to Underweight from Equal Weight at Barclays.

Wynn Resorts (WYNN): Shares are now Neutral from Buy at UBS.

Zumiez (ZUMZ): The stock is moved to Underperform from Neutral by Bank of America-Merrill.

(See also: New Stock Coverage: Microsoft Still Has Major Issues and Stock Upgrades: Adobe Is No Flash in the Pan.)
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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