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: IBM's Big Blues


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

MINYANVILLE ORIGINAL On the day of the debate, toymaker Mattel (MAT) continued Big Bird's rehabilitation by climbing 5.04%. Its Barbie is clearly living large in her dreamhouse and no wonder, with homebuilder confidence having just hit a six year high and property manager American Realty Investors (ARL) gaining 13.33% to top the entire NYSE.

Premier Exhibitions (PRXI), whose Bodies exhibit did so much to stimulate Chinese exports - of corpses, in its case - jumped 18.14%. And Do You Know the Way to San Jose? Probably not, if you're using Apple's (AAPL) crappy map app, but that stock still advanced 2.37% after announcing an iPad mini event next week in California's third-largest city.

Hump Day of peak earnings week is upon us, with American Express (AXP), Bank of America (BAC), eBay Inc. (EBAY), and PepsiCo (PEP) among a multitude of big name companies reporting results.

American Tower (AMT): Shares are downgraded to Equal Weight from Overweight by Barclays.

Apollo Group (APOL): APOL gets lowered to Neutral from Buy at Bank of America-Merrill Lynch.

Cisco Systems (CSCO): The company, a key Dow (^DJI) component, gets cut to Hold from Buy at Cantor Fitzgerald, whose concerns include valuation issues and potential delays to the firm's recovery. The target price is also cut, to $19.50 from $20.50.

Diebold (DBD): DBD is now Neutral from Buy at Compass Point amid a challenged domestic regional and community bank end market.

ExlService (EXLS): Shares are reduced to Neutral from Outperform at Robert W. Baird.

Homebuilders: Raymond James reduces Ryland (RYL) to Market Perform from Outperform and takes Toll Brothers (TOL) to Outperform from Strong Buy.

Imax Corp. (IMAX): The stock is now Neutral from Positive at Susquehanna, whose target is $23.

International Business Machines (IBM): The Dow (^DJI) member, sharply lower ahead of this morning's opening bell, is moved to Neutral from Buy at Janney Capital and to Sell from Hold at Société Générale.

Packaging Corp. of America (PKG): Shares get downgraded to Market Perform from Outperform at BMO Capital, whose price objective is $38.

PNC Financial (PNC): PNC is cut to Hold from Buy at Stifel Nicolaus to reflect net interest margin pressure among other concerns.
Resources Connection (RECN): Shares are now Neutral from Outperform at Macquarie, which cites its high exposure to end markets. The broker would instead put fresh money into Robert Half (RHI).

Texas Instruments (TXN): Longbow lowers the semiconductor stock to Underperform from Neutral following checks that indicates aggressive discounting. Its objective is $22.

(See also: Stock Upgrades: Citigroup Survives October Surprise and New Stock Coverage: Nielsen Tops the Ratings.)
< 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