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Stock Downgrades: Domino's Pizza Is Overdue for a Drop

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

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Making money is now officially as easy as 123. The Dow (^DJI) set its 19th record of 2013 after advancing 123.27. Big soda-loathing Mayor Bloomberg, whose company has had better weeks, saw insult added to injury as a beloved Monster Beverage (MNST) surged 4.81%.

While the Nasdaq (^IXIC) hit its 12th straight 12.5-year high, constituent component BlackBerry (BBRY) - downgraded this morning - slumped 3.97% after its CEO told a conference in Orlando that "We are on solid ground." An odd thing to say at the home of SeaWorld (SEAS), especially considering the company's most recent product was launched at New York's waterfront Pier 36.

And an analyst upgrade saw Vestas Wind Systems (OTCMKTS:VWDRY) take its two-day surge to 16.93%. Legendary financial writer Alan Abelson, who wisely eschewed Wall Street's cheerleading cohort by saying "Basically, our function is to piss in the wind," would not be happy at such unrestrained exuberance.

On the earnings front, Arctic Cat (ACAT), Cisco Systems (CSCO), Computer Sciences (CSC), Deere (DE), easyJet (OTCMKTS:ESYJY), Jack in the Box (JACK), Macy's (M), and Skechers USA (SKX) are all due to report results today.

BG Group (PINK:BRGYY): The British gas firm gets downgraded to Hold from Buy at Canaccord Genuity, which would take profits after recent strength in the stock.

BlackBerry (BBRY): Shares, currently tumbling 2.95% in today's pre-market trading, are moved to Market Perform from Outperform by Sanford Bernstein. The stock is due a breather after its recent run, the broker believes.

Brunswick (BC): The bowling and boating behemoth is reduced to Market Perform from Strong Buy at Raymond James.

Clorox (CLX): Credit Suisse cuts the company to Neutral from Outperform, as further upside from current lofty levels appears unlikely.

Discount Brokers: Barclays gives Underweight-from-Equal Weight downgrades to both Charles Schwab (SCHW) and E*TRADE (ETFC). It takes TD Ameritrade (AMTD) to Equal Weight from Overweight.

Domino's Pizza (NYSE:DPZ): Miller Tabak moves the fast-food firm to Hold from Buy amid valuation issues after an 81.20% share price surge over the past year. Yesterday the stock reached its $59 price target, and the broker believes domestic same store sales comparisons will start to become steadily more challenging.

Gardner Denver (GDI): The diversified machinery name gets moved to Underperform from Neutral at Credit Suisse.

Golar LNG (GLNG): Goldman Sachs slashes the liquefied natural gas name to Sell from Neutral.

ITT Educational (ESI): Shares get downgraded to Equal-Weight from Overweight at First Analysis.

Janus Capital (JNS): Shares get downgraded to Underweight from Overweight at Barclays.

Molex (MOLX): Longbow takes the tech name to Neutral from Buy at Longbow.

NYSE Euronext (NYX): Barclays takes the exchange operator to Equal Weight from Overweight.

Renren (RENN): Oppenheimer reduces the small cap company to Perform from Outperform as rising investments in mobile will adversely impact the stock, in its view.

Smithfield Foods (SFD): Shares are lowered to Hold from Buy by BB&T Capital.

Wyndham Worldwide (WYN): Janney cuts the company to Neutral from Buy.

(See also: New Stock Coverage: LinkedIn Will Have a Hard Job Maintaining Gains and Stock Upgrades: Rising Tide at Old Navy Lifts Gap.)

Disclosure: Minyanville Studios, a division of Minyanville Media, has a business relationship with BlackBerry.
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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