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Stock Downgrades: No End to Nasdaq's Nightmare


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

MINYANVILLE ORIGINAL Big yellow taxis are about to cost more but owners of Student Transportation (STB), which makes those bright yellow school buses, can afford it after seeing it advance 8.11%. In 1923, John Hertz (HTZ), President of Yellow Cab and Yellow Truck and Coach Manufacturing Company, bought a car rental company. Bullish analyst comments just sent it up 1.22%. Here's hoping its onetime spokesman still owns stock options, all the better to fund a renewed search for the "real killers" that has thus far failed to find them after some 17 years. The 18th European Union crisis summit takes place today in Brussels and this time, by golly, they really mean it. On this side of the Atlantic, analysts expect an increase in April new home sales at 10:00 a.m. Eastern. In earnings action, American Eagle Outfitters (AEO), Burberry (BURBY.PK), Eaton Vance (EV), Hewlett-Packard (HPQ), Hormel Foods (HRL), NetApp (NTAP), PVH Corp (PVH),Synopsys (SNPS), Toll Brothers (TOL), and Zale (ZLC) are all due to report results.

America Movil SA (AMX): Shares are now Neutral from Overweight at JPMorgan.

Ariba (ARBA): Shares, no longer trading on fundamentals following yesterday's acquisition offer, are now Neutral from Buy at Goldman.

Dell Inc (DELL): The stock, plunging before the bell, is now Neutral from Buy at Mizuho, which takes its target down to $15 following the poor top-line earnings.

FirstEnergy (FE): FE is downgraded to Underperform from Hold at Jefferies.

Mercer International (MERC): MERC gets moved to Hold from Buy at Canaccord Genuity.

Nasdaq OMX (NDAQ): Shares are downgraded to Hold from Buy at Deutsche Bank amid issues surrounding the Facebook offering. Its target is taken to $25 from $29.

Northern Dynasty Minerals (NAK): NAK is now Hold from Buy at Canaccord Genuity.

Patriot Coal (PCX): The stock, trading at a record low, is downgraded to Hold from Buy at Deutsche Bank.

Pearson Plc (PSO): The Financial Times publisher is now Neutral from Buy at Bank of America-Merrill Lynch.
No positions in stocks mentioned.
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