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Stock Downgrades: Cash Registers Stop Ringing at NCR Corp.

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

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Stocks slipped to start the week, which will have Occupy Wall Street up in arms at the cruelty of capitalist. (Excepting, perhaps, the 30% of the organization who pull in $100,000 a year.)

With all eyes on Sunday's Super Bowl Jos. A. Bank Clothiers (JOSB), founded in Baltimore, fell 15.11% to a new low, which really is no way to mark today's anniversary of The Raven. Super Bowl III featured a famously successful guarantee from Gang Green but Men's Wearhouse (MW), whose CEO is known for similar certainty, was all red ink in slumping 5.85%.

Union, New Jersey-based Bed Bath & Beyond (BBBY) tumbled 2.12% after a ratings reduction, and so soon after organized labor was dealt another body blow. Blondie was way ahead of her time in singing about those Union City Blues.

Today in economics, January consumer confidence is expected to slip slightly from the prior month's pace at 10:00 a.m. Eastern, and the Federal Open Market Committee starts its two-day policy meeting on interest rates.

In earnings action, Amazon (AMZN), Boston Scientific (BSX), Corning (GLW), D.R. Horton (DHI), Eli Lilly (LLY), Ford Motor (F), Harley-Davidson (HOG), JetBlue Airways (JBLU), Pfizer (PFE), and US Steel (X) are all due to report results.

BMC Software (BMC): Cowen cuts the company to Neutral from Outperform.

BT Group (BT): The British telecom titan gets lowered to Neutral from Buy at Bank of America-Merrill Lynch.

Digital Realty Trust (DLR): Bank of America-Merrill moves the equity to Neutral from Buy.

MGM Resorts (MGM): MGM is moved to Hold from Buy at Deutsche Bank.

NCR Corp. (NYSE:NCR): The maker of automated teller machines, once known as National Cash Register Company, is now Neutral from Buy with a $30 price objective at Compass Point. The current risk/reward ratio is seen as unattractive after a recent run.

Norilsk Nickel (PINK:NILSY): HSBC Securities cuts the Russian commodity company to Neutral from Overweight.

NYSE Euronext (NYX): The exchange operator is now Underweight from Neutral at HSBC.

Pandora Media (P): Shares are moved to Neutral from Outperform with Wedbush.

Ruby Tuesday (RT): Credit Suisse takes RT to Neutral from Outperform with an intact target price of $8. Among the company's issues are competitive headwinds and reduced value from sale-leasebacks.

Seagate Technology (STX): Shares, slumping 6% ahead of the open, are downgraded to Equal Weight from Overweight at Evercore.

Unilever (UN): Expecting modest earnings growth in fiscal 2013, Jefferies clips the recently-surging consumer goods giant to Hold from Buy.

VMware (VMW): The troubled tech stock, falling 14.6% before the before the bell after issuing disappointing earnings guidance, is taken to Equal-Weight from Overweight at Morgan Stanley, pulled from Goldman's list of Conviction Buys, and cut to Neutral from Buy at Sterne Agee.

(See also: Stock Upgrades: Caterpillar Pays in Peoria and New Stock Coverage: Starz Stuck in the Gutter?)
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No positions in stocks mentioned.
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