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Stock Downgrades: Coke Not Quenching Summer Thirst


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

MINYANVILLE ORIGINAL The Hollywood hipsters recently seen carrying milk carton purses could afford further such indulgences if they owned shares of Dean Foods (DF), America's largest dairy producer which jumped 39.95%. Wisconsin, a.k.a. "America's Dairyland," saw a 42-year-old boy-wonder picked as number two on the Republican ticket but senior care company Assisted Living Concepts (ALC), based in the state, fell 42.7%. Wedding-ring king Blue Nile (NILE) added 34.32% as an octogenarian billionaire learned its never too late to marry for love.

LOL - BlackBerry thumb made a comeback as Research In Motion (RIMM) rose 18.6% and texter's thumb was a small price for a teenager to pay for retaining his title. Returning Olympians whose arthritis extends a little further found solace in shares of US Physical Therapy (USPH), up 4.61% on Friday to the highest level in its history. Still, our athletes best stay away from energy drink giant Monster Beverage (MNST), down 19%, and gym firm Nautilus (NLS), a 19.4% decliner.

No top-tier economic data due today but quarterly earnings announcements are expected out of Groupon (GRPN), InterOil Corp. (IOC), Sysco Corp. (SYY), and Transcept Pharmaceuticals (TSPT).

Aviva (AV): AV is now Neutral from Outperform by BNP Paribas.

Banner Corp (BANR): Shares are downgraded to Perform from Outperform at Raymond James.

Broadridge Financial (BR): The stock is downgraded to Neutral from Overweight at JPMorgan.

Cardtronics (CATM): Shares are downgraded to Neutral from Overweight at JPMorgan.

Coca-Cola (KO): The Dow (^DJI) member is downgraded to Neutral from Conviction Buy at Goldman based on a difficult macro environment and foreign exchange concerns. Its price target is $84.

GlaxoSmithKline (GSK): Shares are lower in London this morning after a second downgrade since Friday, this time to Hold from Buy at Jefferies.

Infineon (IFNNY): Shares are downgraded to Neutral from Buy at Citi.

JC Penney (JCP): JCP is now Neutral from Overweight at Piper Jaffray.

Liberty Media (LMCA): Shares are lowered to Equal-Weight from Overweight at Morgan Stanley.

Pandora Media (P): Morgan Stanley moves the stock to Equal-Weight from Overweight.

Robbins & Myers (RBN): RBN gets reduced to Neutral from Outperform at Robert W. Baird.

Sagent Pharmaceuticals (SGNT): The stock is downgraded to Equal-Weight from Overweight at Morgan Stanley.

Schnitzer Steel (SCHN): Shares are downgraded to Underperform from Neutral by Bank of America-Merrill Lynch.

SciClone Pharmaceuticals (SCLN): Staying in the sector, Cowen cuts the company to Neutral from Outperform.

Syntel (SYNT): The stock is now Neutral from Overweight at JP Morgan.

Time Warner (TWX): The company gets cut to Average from Above Average at Caris & Company due to valuation.

Veeco Instruments (VECO): Deutsche Bank takes the tech name to Hold from Buy.

Western Union (WU): WU is downgraded to Neutral from Overweight at JPMorgan, whose target is $21. Concerns include limited near-term catalysts.

Yahoo (YHOO): Citing an unclear turnaround strategy among other concerns, Stifel Nicolaus slashes the Internet outfit to Hold from Buy.

(See also: New Stock Coverage: Five Below Not Hot Stock and Stock Upgrades: With a Name Like Smucker's, It Has to Be Good.)
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