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Stock Downgrades: Ryanair Is About to Crash


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

Stocks started September with gains, although these were pared as the session wore on as a looming line in the sand made for anything but a day at the beach. Still, the Dow (INDEXDJX:.DJI) did start what has historically been a scary month in the green, with equities inspired by the Elop and Elon show. This as a rejuvenated Nokia (NYSE:NOK) jumped 31.28% to top the NYSE and Mr. Musk saw his Tesla Motors (NASDAQ:TSLA) hit an all-time high to take its 12-month increase to 492.36%.

Among standout stocks, Mr. Coffee owner Jarden Corp. (JAH) gained 10.43%. The company will forever be associated with an iconic New York Yankee. Yet the caffeinated nectar of the gods was equally good to a Met, with David Einhorn's long-shorted Green Mountain Coffee Roasters (NASDAQ:GMCR) gapping down 1.33% on a ratings reduction.

Today in economic data, the Federal Reserve's beige book detailing regional financial conditions in a dozen districts is released at 2:00 p.m. Eastern. On the quarterly earnings front, Ciena Corporation (NASDAQ:CIEN), Dollar General (NYSE:DG), FuelCell Energy (NASDAQ:FCEL), Navistar International (NYSE:NAV), and SAIC, Inc. (NYSE:SAI) are all due to report results.

Akzo Nobel (OTCMKTS:AKZOY): Macquarie moves the paints and coatings company to Neutral from Outperform.

Ameriprise Financial (NYSE:AMP): Barclays cuts the company to Equal-Weight from Overweight.

Beam Inc. (NYSE:BEAM): The spirits maker gets downgraded to Hold from Buy at Argus amid valuation issues.

Concur Technologies (NASDAQ:CNQR): The technical software stock is taken to Hold from Buy with Wunderlich, whose price objective is $96. Consensus earnings estimates which forecast 40% pro forma EPS (earnings per share) growth are seen as overly optimistic.

Hospitals/Long-Term Care: Kindred Healthcare (NYSE:KND) and Select Medical (NYSE:SEM) are each cut to Underperform from Market Perform with Wells Fargo.

Microsoft (NASDAQ:MSFT): Morgan Stanley moves the stock, yesterday's poorest Dow (INDEXDJX:.DJI) performer, to Equal-Weight from Overweight. Its $7.2 billion deal with Nokia Corporation (NYSE:NOK) increases expenditure and execution risks, the analyst wrote in a note. Shares are trading lower this morning as a result.

Nokia (NYSE:NOK): The telecom name is now Hold from Buy at Argus after yesterday's 31.28% jump. (Note that shares separately scored two upgrades today.)

Ryanair Holdings (NASDAQ:RYAAY): The budget British airline, tumbling about 12% today after issuing a full-year profit warning, is now Neutral from Buy at UBS.

Vivus, Inc. (NASDAQ:VVUS): Lazard slashes the drug stock to Sell from Neutral.

(See also: Stock Upgrades: World Wrestling Entertainment Is Boxing Clever and New Stock Coverage: Bill Still to Come Due for J.C. Penney.)
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