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Stock Downgrades: Kohl's Cools Off


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

MINYANVILLE ORIGINAL Facebook (FB) was once again down - the site, that is, and not, for once, the stock. That gained 5.00%, providing some solace for users who were alarmingly forced to spend several hours interacting with actual people as a result of the outage. While Mark Zuckerberg continues to hide under his hoodie, Victoria's Secret parent Limited Brands (LTD) lost 3.23%, its new Slouchy hoodies apparently not popular enough. First Solar (FSLR) fell 6.27% to post the S&P 500's (^GSPC) poorest performance. The stock stands at a new lifetime low, so that Spanish woman who claims ownership of the sun on behalf of her beleaguered country is out of luck. And soon after scientists revealed how not to spill coffee, Green Mountain Coffee Roasters (GMCR) slid 5.22%. Looking at this morning's May jobs data, its issues don't amount to a hill of beans compared to all our other problems. It's a quiet Friday for earnings announcements but in economics April construction spending and May's ISM manufacturing index are each out at 10:00 a.m. Eastern.

Hewlett-Packard (HPQ): The Dow member is moved to Hold from Buy at Jefferies, which lowers its target to $23 from $30. "We believe…that corporate information technology departments are taking a cautious outlook, especially as we approach the Greek elections," the analyst wrote in a note.

Asset managers: Apollo Global Management (APO) and Franklin Resources (BEN) are both now Neutral from Buy at Goldman, which pulls Och-Ziff Capital (OZM) from its Conviction Buy list.

Kohl's Corp (KSS): Citing increased competitive pressure arising from aggressive competition, Atlantic Equities cuts the discount retailer company to Neutral from Overweight. Its shares fell 6.15% yesterday.

Leap Wireless (LEAP): LEAP is lowered to Underperform from Market Perform by BMO Capital.

FTI Consulting (FCN): The company is downgraded to Market Perform from Outperform at William Blair.

Synacor (SYNC): Shares are slumping before the bell after being cut by both Stifel Nicolaus (Hold from Buy) and Bank of America-Merrill Lynch (Underperform from Neutral) amid valuation concerns.

Taiwan Semiconductor (TSM): TSM is taken to Underperform from Hold at Jefferies.

Tenaris (TS): Shares are now Underperform from Neutral at Credit Suisse.

Vera Bradley Inc (VRA): The company is reduced to Hold from Buy at Jefferies.

(See also: New Stock Coverage: Fresh Chapter for Facebook? and Stock Upgrades: Clorox Cleans Up.)
No positions in stocks mentioned.
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