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Stock Downgrades: Sprint About to Stall?


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

MINYANVILLE ORIGINAL In yesterday's analyst action, alarm maker ADT Corp. (ADT) got a lukewarm initiatio, but a museum in Holland could surely have used its principal product. (Presumably the Picasso-pilfering thieves have agreed to go Dutch with the proceeds.) And Alliant Techsystems (ATK), the world's largest arms maker, gained 2.85% on an upgrade. Hopefully Europe, which days after winning the Nobel Peace Prize is putting the butcher of Bosnia on trial for war crimes, owned the stock.

It's a torrid Tuesday in earnings season, with such key companies as Coca-Cola (KO), Goldman Sachs (GS), Johnson & Johnson (JNJ), Intel (INTC), International Business Machines (IBM), and UnitedHealth (UNH) all due to report results.

Aecom Technology (ACM): BB&T Capital cuts the company to Hold from Buy due to valuation concerns.

Boise Inc. (BZ): Shares are downgraded to Hold from Buy at TD Securities, which has a $10 target price.

Mechel Steel (MTL): The small cap is moved to Neutral from Overweight at HSBC Securities.

Riverbed Technology (RVBD): Shares are now Neutral from Buy at Citigroup.

Sprint (NYSE:S) Shares, upgraded elsewhere today, are now Neutral from Outperform at Robert W. Baird, which says the telecom firm will still faces many of the same competitive and structural challenges even after the Softbank (SFTBY) deal. The stock is up before the bell.

Transportation & Logistics: Robert Baird gives Neutral-from-Outperform ratings reductions to United Parcel Service (UPS) and Expeditors International (EXPD).

ZTE Corp. (ZTCOY): The telecom-equipment outfit is taken to Neutral from Buy at UBS.

(See also: New Stock Coverage: Stick With Glu Mobile and Stock Upgrades: Fossil's Time Is Now.)
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