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: Open Season on OpenTable


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

MINYANVILLE ORIGINAL In this the week that honors unmarrieds, a Twilight couple have discovered breaking up is indeed hard to do. Especially if you're Kraft (KFT), the Singles owner having just been booted from the Dow (^DJI) after splitting up into two.

Christmas has quite literally come early at Kmart and, while the elves remain in hibernation over at OfficeMax (OMX), one suspects they will soon be celebrating after that stock surged 14.63% on Friday to top all NYSE issues.

Affiliated Managers (AMG): Citigroup pulls the name from its Top Picks Live list.

Align Technology (ALGN): Cantor Fitzgerald cuts the company, recently trading at historic highs, to Hold from Buy amid uncertainty over pricing trends. The $37 price objective is intact.

AMN Healthcare Services (AHS): Shares are now Sell from Neutral at UBS.

Banco Bilbao Vizcaya (BBVA): The Spanish financial firm is now Underperform from Neutral at BNP Paribas.

Beacon Roofing Supply (BECN): The stock is cut to Hold from Buy at Keybanc.

BT Group (BT): Shares are lower in London today after BNP Paribas cut it to Neutral from Outperform.

Capstead Mortgage (CMO): Citing a lower total return potential going forward, FBR Capital cuts the company to Market Perform from Outperform.

Commodity Companies: AK Steel (AKS), Reliance Steel (RS), US Steel (X), Metals USA (MUSA), and Cliffs Natural Resources (CLF) are all cut to Neutral from Overweight at JPMorgan.

Deutsche Bank (DB): DB gets downgraded to Underperform from Neutral at Credit Suisse.

Financials: Discover Financial Services (DFS) and Wells Fargo (WFC) are each downgraded to Hold from Buy at Stifel Nicolaus.

G&K Services (GKSR): GKSR gets reduced to Neutral from Buy at Robert W. Baird amid fewer catalysts.

Golden Minerals (AUMN): Shares are taken to Reduce from Hold at TD Securities.

Hasbro (HAS): The toy outfit is taken to Hold from Buy at Stifel Nicolaus, whose concerns include potential headwinds from European exposure and increased iPad usage.

Hatteras Financial (HTS): HTS is cut to Hold from Buy with at Wunderlich, whose target price is $30.

International Paper (IP): IP is lowered to Neutral from Buy at Longbow as its industry checks indicate corrugated packaging price hikes are unlikely.

Legg Mason (LM): Jefferies lowers LM to Hold from Buy due to a lack of near-term turnaround catalysts.

Oil & Gas Refiners: Citigroup gives Neutral-from-Buy ratings reductions to Marathon Petroleum (MPC), Phillips 66 (PSX) ($49 target), and Valero Energy (VLO).

OpenTable (OPEN): Shares are now Neutral from Overweight at Piper Jaffray amid a lack of upside to consensus earnings estimates. The new target is $49.

Plantronics (PLT): PLT is moved to Neutral from Buy at Mizuho.

Semiconductor Stocks: Advanced Micro Devices (AMD) and Dow member Intel (INTC) are each lowered to Neutral from Buy at Longbow, which worries about ongoing PC demand weakness among other issues.

Under Armour (UA): UA is downgraded to Hold at Argus from Buy due to valuation factors.

Vivendi (VIVHY): Shares are tumbling 2.3% in Europe today after UBS slashed it to Sell from Neutral.

(See also: New Stock Coverage: No Hollywood Ending for Netflix and Stock Upgrades: Moody's in High Spirits.)
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