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Upgrades & Downgrades: Green Mountain Coffee Gets a Roasting


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

MINYANVILLE ORIGINAL Yesterday on a quiet corner of Manhattan's York Avenue money didn't merely talk, it screamed, as a 117-year-old painting perfectly suited to our current age of anxiety commanded a world record $119.9 million at auction. Unfortunately for investors, another artifact that emerged in the mid 1890s - the Dow Jones Industrial Average (^DJI) - was much muter a few miles downtown. A day late and several dollars short, the market emitted a Mayday distress call but, much like the protagonist in Munch's masterpiece, no one wanted to hear. April's Depressing Payroll report from ADP and the steepest slide in factory orders since 2009 saw blue chips fall from four-year highs, though they did end well off the day's worst levels. Spanish financial firm Banco Bilbao Vizcaya Argentaria (BBVA) lost 4.83% to fall to a new low amid more worries over Europe, which made it an odd time for a Houston soccer team to inaugurate a new stadium in its honor. Iberia may have its issues, but it is the world fútbol champion, so perhaps the biggest city in Texas should stick to what it does best, namely energy. Then again, maybe not - oil outfit and hometown hero Endeavour International (END) promptly tumbled 23.79%. The sport's superstar, birthday boy David Beckham, turned 37 only to lose his shirt on Herbalife (HLF), which took its two-day slide to 26.66%, a vindication of sorts for another David.

A new study showed berries may slow memory loss but BlackBerry, its unfathomable array of products already too tough to recall, seems to have forgotten what made it cool, Research in Motion (RIMM) declining 5.04% as a result. Hillary Clinton found love in China and closer to home. parent IAC/InterActive (IACI), which claims daughter Chelsea as a board member, advanced 3.32% to an all-time high. Charming Shoppes (CHRS), up 23.90%, and Vitamin Shoppe (VSI), a 2.94% gainer on a down day, could both afford to buy a vowel. UBS AG (UBS), a stickler for suits, increased 1.50% after earnings while corporate casual king Gap Inc (GPS) rose 2.14% to within a whisker of a 10-year peak. In analyst action an upgrade of Luxottica (LUX) lifted it 2.77%; send all stock options to those Chilean miners, long gone from the front page but not forgotten. And Zale Corp (ZLC), which bills itself as "America's diamond store since 1924,″ lost 7.64% even as something very precious was found. Today in economics, analysts expect a slight slippage in April's Institute for Supply Management non-manufacturing index at 10:00 a.m. Eastern. The first quarter earnings cavalcade continues, with American International Group (AIG), Beam Inc (BEAM), General Motors (GM), Hain Celestial (HAIN), Kraft Foods (KFT), LinkedIn (LNKD), MGM Resorts (MGM), Sara Lee (SLE), and Viacom (VIA) all due to release results.


CafePress (PRSS): Shares are initiated with a Buy at Jefferies.

Discount brokers: Its concerns including ongoing weakness in Europe, a hardening landing in China, and stagnant job growth in the US all adversely impacting the retail investor, BGB Securities starts Sells on Charles Schwab (SCHW), E*TRADE Financial (ETFC), and TD Ameritrade (AMTD). The respective price objectives are $11, $8.50, and $15.50.

Phillips 66 (PSX): Raymond James picks up PSX at Market Perform.

Qihoo 360 Technology (QIHU): The stock is begun with a Buy at Jefferies.

Spectrum Brands (SPB): The consumer goods company, whose product portfolio includes George Foreman, Rayovac, and Remington, is resumed with an Outperform at Imperial Capital, whose price target is $40. Catalysts include strong free cash flow generation potential and margin improvement potential.

Tata Motors (TTM): HSBC Securities starts Overweight coverage on TTM.


ACE Limited. The insurance outfit is upgraded to Market Perform from Underperform by Sanford Bernstein, which is heartened by price increases and positive sector momentum.

AthenaHealth (ATHN): Morgan Stanley moves the stock to Equal Weight from Underweight.

Cardiovascular Systems (CSII): Shares are boosted to Outperform from Market Perform by brokerage William Blair.

Chesapeake Energy (CHK): The recently troubled stock is taken to Outperform from Underperform by Sanford Bernstein.

Coach (COH): Lazard lifts the luxury goods outfit to Buy from Neutral.

Dynamic Materials (BOOM): BOOM gets boosted to Overweight from Neutral at JPMorgan.

InterActiveCorp (IACI): Shares are upgraded to Buy from Hold at The Benchmark Company, which raises its target by $9 to $59. Results from both its Search and Match segments exceeded expectations.

MSCI Inc (MSCI): Shares are moved to Outperform from Neutral at Credit Suisse.

ON Semiconductor (ONNN): The stock is upgraded to Outperform from Sector Perform at Pacific Crest.

PharMerica (PMC): RBC Capital raises its recommendation to Outperform from Sector Perform.

Sasol (SSL): SSL is now Neutral from Underweight at HSBC Securities. (CRM): The equity gets increased to Outperform from Neutral at Credit Suisse.

SkyWest (SKYW): The regional air carrier is raised to Market Perform from Underperform at Raymond James.

Time Warner Telecom (TWTC): TWTC is taken to Outperform from Perform with a $30 objective at Oppenheimer, which says cloud-focused companies have confirmed continued strong enterprise buying patterns into the early part of this year.

TTM Technologies (TTMI): JPMorgan takes TTMI to Overweight from Neutral.

Volcano Corp (VOLC): The medical appliance outfit gets added to the Conviction Buy List at Goldman Sachs.


Atmel (ATML): Shares are cut to Hold from Buy at Capstone Investments Capstone, as they say growth within Touch ICs has likely hit a plateau.

CACI International (CACI): Credit Suisse cuts the company to Neutral from Outperform.

Charming Shoppes (CHRS): No longer trading on fundamentals following yesterday's buyout offer, the stock is now Neutral from Positive at Susquehanna.

Computer Programs & Systems (CPSI): Shares are cut to Neutral from Buy at Citigroup.

Curtiss-Wright (CW): CW is now Hold from Buy at Capstone.

DaVita (DVA): Saying they see fewer positive catalysts over the next six months and unknown out-year Medicare risks remain, Robert W. Baird reduces its rating to Neutral from Outperform.

Green Mountain Coffee Roasters (GMCR): After last night's earnings announcement there's double trouble for the K-Cup company this morning, cut by both SunTrust (Neutral from Buy) and Piper Jaffray (Neutral from Overweight.) Shares are falling some 40% before the opening bell.

JDS Uniphase (JDSU): The tech stock is reduced to Outperform from Strong Buy at Raymond James.

Novatel Wireless (NVTL): NVTL is now Market Perform from Outperform at BMO Capital.

Onyx Pharmaceuticals (ONXX): Goldman pulls the stock from its list of Conviction Buys.

PF Chang's China Bistro (PFCB): The fast-food firm is reduced to Sector Perform from Outperform at RBC Capital.

Visteon Corp (VC): Bank of America-Merrill Lynch lowers the auto parts outfit to Neutral from Buy.
No positions in stocks mentioned.
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