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: FedEx Check Goes Missing In Mail

By

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

PrintPRINT
MINYANVILLE ORIGINAL Stocks rose again and the Nasdaq (^IXIC) is now positive for December. This despite The Trouble With Harry, with Senator Reid saying a deal in DC is increasingly unlikely by Christmas. John Wiley (JW-A) - whose most iconic offering our politicians are presently in desperate need of - imploded 8.47% to a new low but fiscal cliff concerns were a molehill for McGraw-Hill (MHP), which hit a multi-year high, and Hill-Rom Holdings (HRC), which gained 2.21% on an upbeat research assessment.

Positive analyst comments also helped Monster Beverage (MNST) add on 3.90% as another soft drink maker splashed some serious cold hard cash. And Chinese matchmaker Jiayuan.com (DATE) slid 6.29% but shareholders should cheer up, for12/12/12 is a date with destiny in matrimonial aisles everywhere.

Today at 12:30 p.m. Eastern the Federal Open Market Committee announces its decision on interest rates, and Fed head Ben Bernanke holds a press conference at 2:00 p.m. In corporate earnings action, Costco (COST), Joy Global (JOY), and Restoration Hardware (RH) are all due to report results.

Boston Properties (BXP): Shares are downgraded to Hold from Buy at Stifel Nicolaus due to valuation.

Energy Stocks: Crédit Agricole cuts National Oilwell Varco (NOV) to Outperform from Buy and does the same to Patterson-UTI Energy (PTEN).

E.ON AG (PINK:EONGY) Credit Suisse cuts the European energy company to Underperform from Neutral.

FedEx (NYSE:FDX) Raymond James reduces its recommendation to Outperform from Strong Buy amid reduced earnings visibility and expectations for a cautious tone to guidance. The target is lowered to $100 from $106.

Knight Transportation (KNX): Shares are now Neutral from Buy at Bank of America-Merrill Lynch.

Mondelez International (MDLZ): The stock is moved to Hold from Buy at Argus.

Novartis (NVS): NVS is now Hold from Buy at Deutsche Bank.

Royal Caribbean (RCL): Shares are reduced to Neutral from Buy at Longbow.

Seagate Technology (STX): STX gets downgraded to Underweight from Neutral at JPMorgan.

Stifel Financial (SF): Shares are downgraded to Underperform from Market Perform with Wells Fargo.

Teva Pharmaceutical (TEVA): TEVA is taken to Market Perform from Outperform at Leerink.

(See also: New Stock Coverage: Ugg Owner Deckers Outdoor Looking 'Bootiful' and Stock Upgrades: Coinstar Set to Go Ka-Ching?)
< 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.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE