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Stock Downgrades: Expedia Sent to Siberia


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

MINYANVILLE ORIGINAL TeleNav (TNAV) tumbled 3.30% to a fresh low after the navigation-software maker was reduced by Robert W. Baird's marvelously-named analyst Will Power. Meanwhile Chesapeake Energy (CHK), whose CEO prefers $12 million maps of the antique variety, continues to lose its way, with a downgrade this morning following yesterday's decline. Tom-Tom (TMOAF), whose GPS devices get you to your destination much more effectively - except in beleaguered Europe, where they send you to the wrong country, of course - gained 13.48% on an upbeat reaction to its deal with Apple Inc. (AAPL). And pride-of-Dublin Ryanair (RYAAY), which transports hooky-playing compatriots much to the chagrin of Angela Merkel, fell 1.63% on bearish research comments.

Today in economics, analysts expect an essentially unchanged figure for April business inventories at 10:00 a.m. Eastern. In earnings action, Culp Inc. (CFI), Korn/Ferry International (KFY), and Luby's (LUB) are all due to report results.

McDonald's (MCD): The Dow member gets downgraded to Neutral from Buy at Goldman.

Chesapeake Energy (CHK): As mentioned, shares are moved to Market Perform from Outperform by Sanford Bernstein.

Deutsche Bank (DB): DB gets downgraded to Neutral from Outperform at Credit Suisse.

Expedia (EXPE): The online travel outfit is taken to Neutral from Buy at Lazard.

Power Integrations (POWI): Shares are downgraded to Neutral from Buy at Sterne Agee.

Royal Bank of Scotland (RBS): RBS is reduced to Underperform from Neutral at Credit Suisse.

Vistaprint (VPRT): The stock is cut to Underweight from Equal Weight by Barclays.

William Morrison Supermarkets (MRWSY): HSBC Securities moves the British grocer to Underweight from Neutral.

(See also: Stock Upgrades: No More Tears for Johnson & Johnson and New Stock Coverage: PetSmart Is Top Dog.)
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