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Stock Downgrades: Get Rid of Ruckus After Noisy Quarter

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

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After last week's celebration of the Dow (^DJI) hitting 15,000, came the hangover. Although - considering alcoholic mint juleps were the order of the day for Saturday's Kentucky Derby, and Sunday was a similarly boozy Cinco de Mayo - yesterday's decline was decidedly minor.

Among blue chips, Intel (INTC) fell, even after scoring an analyst upgrade. (Maybe its legendary former CEO was right to say Only the Paranoid Survive, especially as Sigmund Freud's birthday fell on a manic Monday this year.) Berkshire Hathaway (BRK.A) rose 1.28% to a fresh peak, as Warren Buffett said women are the key to prosperity. (Except on his own board, apparently.)

Yahoo's (YHOO) Marissa Mayer can run rings round the big boys, and yesterday she showed up at a red carpet function sporting blue hair. A touching tribute to the dearly departed most famous blue haired broad of them all.

Today in economics, March consumer credit is released at 3:00 p.m. Eastern. On the earnings front, expect announcements out of Ariad Pharmaceuticals (ARIA), DirecTV (DTV), Fossil (FOSL), Electronic Arts (EA), HSBC Holdings (HBC), Molson Coors (TAP), OfficeMax (OMX), Société Générale (PINK:SCGLY), Walt Disney (DIS), Whole Foods (WFM), and Zillow (Z).

Aéropostale (ARO): The stock is tumbling 2.93% ahead of this morning's opening bell on a Sell-from-Hold cut by Brean Capital.

American Eagle Outfitters (AEO): Shares get downgraded to Market Perform from Outperform with Wells Fargo.

American International Group (AIG): Citing a steep valuation and limited upside potential, Goldman Sachs slashes the stock to Neutral from Buy.

Coach Inc. (COH): Wells cuts the company to Market Perform from Outperform.

Hologic (HOLX): An earnings miss sees shares taken to Buy from Strong Buy at ISI Group, whose price objective is lowered to $24 from $26.

Iconix Brand Group (ICON): The owner of labels including Joe Boxer and London Fog is lowered to Hold from Buy at Brean Capital.

Royal Bank of Scotland (RBS): JPMorgan moves its fellow financial firm to Neutral from Overweight.

Ruckus Wireless (NYSE:RKUS): RKUS is reduced to Neutral from Buy at Lazard after it missed first quarter earnings and gave a downbeat outlook for Q2. Shares are sliding 17.58% this morning.

Statoil (STO): The Norwegian energy giant is now Neutral from Outperform at BNP Paribas.

Tiffany (TIF): Wells Fargo takes TIF to Market Perform from Outperform.

TJX Companies (TJX): The retailer is reduced to Market Perform from Outperform at Wells, sending it down more than 1% as I write. Shares, having enjoyed four straight years of gains in excess of 20%, are now due a breather, the bank believes.

(See also: New Stock Coverage: No Miracle on 34th Street for Macy's and Stock Upgrades: Gym Giant Nautilus All Set to Pump You Up.)
No positions in stocks mentioned.
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