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: Groupon Gets Clipped


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

MINYANVILLE ORIGINAL A fit-as-a-fiddle veep pick did nothing for Nautilus (NLS), with the recently imploding stock losing another 6.87%. The London games over, Olympic Steel (ZEUS) tumbled 2.44% in a soft metals sector. Its symbol pays homage to the king of all Greek gods but that didn't mean much on a day Athens announced its economy contracted 6.2% in Q2.

A kangaroo escaped from a German animal park, ably assisted by both a fox and a boar. And speaking of pouches, Campbell Soup (CPB) - apparently as sick as the rest of us at the overused cliché 'kick the can' - gained 3.12% after being rated a new Conviction Buy at Goldman Sachs (GS). The bank previously said the stock was a 'Sell', so convictions are clearly not what they once were.

Today in economics, June business inventories are expected to slip slightly from the previous month's pace at 10:00 a.m. Eastern. In earnings action, Bob Evans Farms (BOBE), Cache Inc. (CACH), Dick's Sporting Goods (DKS), Estée Lauder (EL), Flowers Foods (FLO), GOL Linhas Aéreas Inteligentes (GOL), Home Depot (HD), JDS Uniphase (JDSU), Myriad Genetics (MYGN), TJX Cos. (TJX), Valspar (VAL), and Towers Watson (TW) are all due to report results.

Aviva (AV): Shares are downgraded to Hold from Buy at Canaccord Genuity.

Domino's Pizza (DPZ): DPZ gets downgraded to Neutral from Buy at Goldman Sachs.

Envivio (ENVI): Goldman gives the name a downgrade to Neutral from Buy.

Expedia (EXPE): Shares are downgraded to Hold from Buy at Stifel Nicolaus, whose concerns include valuation and weakening European travel trends.

Global Payment (GPN): GPN gets downgraded to Hold from Buy at Stifel Nicolaus.

Groupon (GRPN): Shares, tumbling 23% ahead of the open, are downgraded to Hold from Buy at Benchmark amid slowing subscriber growth.

NCR Corp (NCR): The cash machine maker gets cut to Neutral from Outperform with Wedbush.

New York & Co. (NWY): Janney Montgomery Scott moves the small cap to Neutral from Buy.

Pearson Plc (PSO): The Financial Times publisher is taken to Equal-Weight from Overweight at Morgan Stanley.

Real Goods Solar (RSOL): RSOL is reduced to Hold from Buy at ThinkEquity.

ScanSource (SCSC): Shares are downgraded to Hold from Buy at KeyBanc Capital.

Scientific Games (SGMS): The company is downgraded to Hold from Buy at Deutsche Bank.

Southwest Airlines (LUV): Bank of America-Merrill Lynch lowers the shares to Underperform from Neutral.

Vale S.A. (VALE): Bank of America-Merrill Lynch moves the commodity company to Neutral from Buy.

Wendy's (WEN): The fast food firm is lower before the bell after getting cut to Underweight from Hold at KeyBanc Capital, whose target price is $4.

(See also: Stock Upgrades: Elan Has Plenty of Pizzazz and New Stock Coverage: Bulls Are Eyeing Arrow Electronics.)
< 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.
Featured Videos