Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Stock Downgrades: Cutting the Cord on Cablevision


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

MINYANVILLE ORIGINAL While Wall Street's glass remained distinctly half-empty yesterday, six pack abs and beer bellies both fared just fine, with the well-toned models of Abercrombie & Fitch (ANF) seeing it surge 34.45% and Groupon's (GRPN) ale-swilling CEO enjoying a 3.80% gain in that stock. Spanish Broadcasting System (SBSA) tumbled 2.73%, its checks sadly bouncing like so many rubber bullets back in Iberia as Madrid again went on strike. And Home Depot (HD), its shares recently more on fire than its Atlanta neighbor Tara, cooled off after a ratings reduction sent in sliding 3.01%.

Today in economics, Philadelphia Fed Index for November is out at 10:00 a.m. Eastern. In earnings action, Ahold (AHONY), Autodesk (ADSK), Buckle Inc. (BKE), Dollar Tree (DLTR), Dell Inc. (DELL), Gap Inc. (GPS), GameStop (GME), Intuit (INTU), Ross Stores (ROST), Sears Holdings (SHLD), Target (TGT), Viacom (VIA), and Wal-Mart (WMT) are all due to report results.

Ameriprise Financial (AMP): AMP gets downgraded to Outperform from Top Pick at RBC Capital.

Cablevision (NYSE:CVC) The stock is slashed to Sell from Neutral at Goldman Sachs, which cites an increase in both costs and competition. Its price objective is $11.

E.ON (EONGY): JPMorgan moves the German energy giant, the target of several analyst downgrades this week, to Underweight from Equal Weight.

GDF Suez (GDFZY): Shares are now Underweight to Neutral at HSBC Securities.

IAMGOLD (IAG): The commodity company, which cratered 19.45% yesterday and has been upgraded elsewhere this morning, is cut to Sector Perform from Outperform at CIBC World Markets.

Moneygram International (MGI): Credit Suisse moves the name to Neutral from Outperform.

Natixis (NTXFY): Shares are now Neutral from Buy at BNP Paribas.

Paychex (PAYX): Troubled by an absence of robust US payroll growth, Credit Suisse transitions to a Neutral from Outperform on the stock. Its target is also trimmed by $1, to $35.

Puma Biotechnology (PBYI): Shares are taken to Neutral from Buy at Sun Trust.

Teavana (TEA): Yesterday's 52.52% gainer, no longer trading on fundamentals following a $620 million cash acquisition by Starbucks (SBUX), is downgraded to Hold from Buy at KeyBanc Capital.

Tri-Tech Holding (TRIT): TRIT gets taken to Hold from Buy at Brean Capital, which cites a loss of momentum in the company's core business model.

Walter Energy (WLT): Bank of America-Merrill Lynch cuts the coal company to Underperform from Neutral.

(See also: New Stock Coverage: Analyst Puts AT&T on Hold and Stock Upgrades: Spirit Airlines Is About to Levitate.)
< Previous
  • 1
Next >
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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos