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Stock Downgrades: Draw Something's Zynga Hung, Drawn, and Quartered

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

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MINYANVILLE ORIGINAL Netflix (NFLX) jumped another 6.54% and has now gained each day this week. The stock of a firm that famously owes its existence to a $40 late fee from Apollo 13 continues to go to Pluto. Elsewhere International Speedway (ISCA) tumbled 10.33%, Sprint (S) slumped 2.12% on a ratings reduction, and Express (EXPR) touched a lifetime low.

Sometimes, slow and steady wins the race, so don't mock turtles on the day we remember a remarkable man in a mock turtleneck. Exactly 12 months ago it was all about Jobs and today it's all about jobs, after this morning's announcement that America's unemployment rate fell below 8% for the first time in almost four years.

Adtran (ADTN): Shares get downgraded to Underweight from Equal Weight by Barclays.

ArcelorMittal (MT): The steel stock is now Neutral from Buy at Citigroup, which says a potential credit downgrade by Moody's (MCO) and negative earnings momentum are among its concerns.

Autoliv (ALV): ALV is slashed to Sell from Neutral at UBS, which sees downside risk to fiscal year earnings guidance. The target, at $56, is intact.

Biogen Idec (BIIB): Shares are downgraded to Perform from Outperform at Oppenheimer.

Endo Health (ENDP): The pharmaceutical firm is cut to Sector Perform from Outperform at RBC Capital.

F5 Networks (FFIV): The tech stock is taken to Equal Weight from Overweight by Barclays.

Hewlett-Packard (HPQ): A miserable week for the key Dow (^DJI) component continues, today cut at both Argus (Hold from Buy) and Sterne Agee (Neutral from Buy). Concerns include structural and secular headwinds.

Linear Technology (LLTC): Shares are lower before the bell after getting downgraded to Underperform from Perform at Raymond James.

Marriott International (MAR): UBS (Neutral from Buy), Lazard (also Neutral from Buy), and ISG Group (Hold from Buy) all check out of the hotel stock, citing reduced 2013 guidance among other issues.

MeadWestvaco (MWV): Citing a reduced bleached board price forecast, Goldman Sachs slashes the stock to Neutral from Buy. The target is also trimmed by $3, to $30.

Mercury Computer (MRCY): No mercy for MRCY, moved to Neutral from Buy at Sterne Agee after a first quarter earnings pre-announcement.

Rowan Cos (RDC): RDC is reduced to Perform from Outperform at Raymond James.

Swiss Re (SSREY): Shares are downgraded to Reduce from Neutral at Nomura.

TD Ameritrade Holding (AMTD): The stock is taken to Market Perform from Outperform at Raymond James, whose concerns include weak trading volumes and a declining rate environment.

Zynga (NASDAQ:ZNGA) The social gaming firm, whose product offerings include Draw Something and Words With Friends, is now Neutral at Robert W. Baird. The target is slashed in half, to $3 from $6, after an earnings miss. An over-dependence on Facebook (FB) and ongoing headwinds in user monetization are key concerns. Shares are tumbling 20% before the bell.

(See also: Stock Upgrades: Looking Beyond Burberry's Recent Checkered Past and New Stock Coverage: Money Grows on Dollar Tree.)
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.

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