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Stock Downgrades: Carnival Corporation Is in Deep Ship


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

Who'd have thought Dr. Seuss would be way scarier than Dr. Doom? Green eggs inspired gridlock on Capitol Hill outweighed an unusually sunny-side-up outlook from Nouriel Roubini to send the Dow (INDEXDJX:.DJI) down for a fourth straight day. Some stocks did buck the market's malaise. A suddenly resurgent Yahoo (NASDAQ:YHOO) jumped 3.34%. Its Marissa Mayer, to judge by her awkward ellipsis when saying "We promise not to screw…" after buying Tumblr - which made its name in porn, yet - is clearly still getting the hang of this Twitter thing. Twitter itself, however, appears far more sure-footed, and is now apparently on the brink of choosing the NYSE over Nasdaq (INDEXNASDAQ:.IXIC) for its initial public offering. This with memories of the latter's Facebook (NASDAQ:FB) fiasco still fresh. (Although not nearly as fresh as they were; a broker boost just sent the social networking name up 2.67% to a new best.) And as The Goldbergs made a totally awesome debut on ABC, a couple of other '80s icons fared less well. Trapper Keeper owner ACCO Brands (NYSE:ACCO) tumbled 2.15% and Perry Ellis (NASDAQ:PERY), whose clothes outfitted the decade, plunged 2.59%.

Today in economics, analysts anticipate an uptick in August new home sales at 10:00 a.m. Eastern. In earnings action, quarterly announcements are expected out of AutoZone (NYSE:AZO), Bed Bath & Beyond (NASDAQ:BBBY), and Jabil Circuit (NYSE:JBL).

Bravio Brio Restaurant Group (NASDAQ:BBRG): Shares are slashed to Neutral from Overweight at Piper Jaffray.

CarMax (NYSE:KMX): Goldman Sachs cuts the company to Neutral from Buy.

Carnival Corporation (NYSE:CCL): The cruise company, which slid 7.65% yesterday on iffy earnings, is sinking further in today's overseas trading after being moved to Underweight from Equal-Weight at Morgan Stanley. Bank of America-Merrill Lynch (Neutral from Buy) and Natixis (Reduce from Neutral) add to the agony.

Cypress Semiconductor (NASDAQ:CY): Shares, which slumped yesterday, are now Neutral from Outperform with Wedbush. The price objective, previously $14, is lowered to $10.

Dollar Tree (NASDAQ:DLTR): Goldman Sachs pulls the stock from its list of Conviction Buys.

Raptor Pharmaceuticals (NASDAQ:RPTP): RPTP gets reduced to Perform from Outperform at Oppenheimer due to valuation, with the drug Cystinosis now already priced in.

Reliance Steel (NYSE:RS): Bank of America-Merrill moves the commodity company to Neutral from Buy.

Skyworks Solutions (NASDAQ:SWKS): B. Riley & Co. reduces the semiconductor stock to Neutral from Buy.

Tesco (OTCMKTS:TSCDY): JPMorgan gives the British grocery giant an Underweight-from-Neutral downgrade.

(See also: New Stock Coverage: Goldman Guarantees You're Going to Like Men's Wearhouse and Stock Upgrades: Cash America Can Make You a Pawn Star)
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