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Stock Downgrades: Dr Pepper Not Worth Its Salt

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

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Smith and Jones (INDEXDJX:.DJI) each deserve honorable mentions, with the former's FedEx (NYSE:FDX) surging 5.03% to a six-year best even as the latter hit the highest level in its illustrious history. Ultimately, however, yesterday was all about Uncle Ben, with the Fed head sending shares skyward by surprisingly opting not to terminate taper. Barrick Gold (NYSE:ABX), up 9.71%, was an obvious beneficiary of the ongoing easy money as bullion enjoyed its single best session since 2009. The "devil's metal" didn't do too badly, either, with Endeavour Silver (NYSE:EXK) jumping 16.71% to top the entire NYSE. (This as the "Red Devils" of Manchester United (NYSE:MANU) rose 2.10% after announcing earnings.)

Among other equities on the move, Apple Inc. (NASDAQ:AAPL) advanced 2.06% as the New York Times' (NYSE:NYT) David Pogue said of its new fingerprint sensor, "It's genuinely awesome; the haters can go jump off a pier." Presumably Pier 1 (NYSE:PIR), which is tumbling 10% as I write after releasing results this morning. And on the market's best day in over three months, J.C. Penney (NYSE:JCP) and Herbalife (NYSE:HLF) -- both of which George Soros has lately taken anti-Ackman positions in -- each ended lower. No wonder he has recently resorted to taking in Gordon Gekko as a roommate to make ends meet.

Today in economics, we get a trio of reports at 10:00 a.m. Eastern, in the form of August leading indicators and existing home sales, and the Philadelphia Fed Survey for September. On the corporate earnings front, ConAgra (NYSE:CAG), Rite Aid (NYSE:RAD), and Scholastic (NASDAQ:SCHL) are all due to report results.

BHP Billiton (NYSE:BHP): The commodity company is cut to Underperform from Neutral by BNP Paribas.

Dr Pepper Snapple Group Inc. (NYSE:DPS): Shares are slashed to Sell from Neutral at Goldman Sachs.

FedEx (NYSE:FDX): Fresh from yesterday's jump, the stock is now Neutral from Buy at Goldman.

Walt Disney (NYSE:DIS): Morgan Stanley moves the recently-surging Mouse House, a Dow member, to Equal-Weight from Overweight, sending it lower before the bell.

(See also: Stock Upgrades: Tony Hayward, of BP Infamy, Gets His Life Back at Glencore Xstrata and New Stock Coverage: Exciting New Chapter for Facebook.)


No positions in stocks mentioned.
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