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: Coke Not Quenching Summer Thirst

By

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

PrintPRINT
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.)
< 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