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Stock Downgrades: No Fun on the Farm for Tractor Supply


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

MINYANVILLE ORIGINAL Credit Suisse (CS), which is supposed to benefit from being out of the eurozone, fell 12.51% in five sessions, and National Bank of Greece (NBG), canary in the continent's coal mine, jumped 36.44%. Staying in the sector Bank of America (BAC) rose four straight days, making it generous enough to dispense unlimited amounts of cash at an ATM, $312,000 of which one customer spent at the Greektown Casino. A magician was arrested in a series of bank robberies and Jamie Dimon, whose last trick made $2 billion disappear, went before the Senate Banking Committee to say sorry. Nokia (NOK) of Finland, birthplace of Angry Birds, slumped 16.96% and ended in the red while a crazy bird invaded the green. And legendary financial journalist Dan Dorfman died at 80. Or is that 82? He is already spinning in his grave at Wall Street's fuzzy math and sloppy fact checking.

Celgene (CELG): Shares get downgraded to Sector Perform from Outperform at RBC Capital.

Huntsman Corp (HUN): The stock is now Hold from Buy at Keybanc, which says the global commodity nature of HUN's businesses is going to be sensitive to changes in the macro-economy.

Energy Limited Partnerships: Breitburn Energy (BBEP) and LRR Energy (LRE) are each moved to Market Perform from Outperform at Raymond James, which takes both Pioneer Southwest Energy (PSE) and SandRidge Mississippian Trust I (SDT) to Underperform from Market Perform.

HollyFrontier (HFC): Shares are moved to Market Perform from Outperform with a $34 objective at Howard Weil due to valuation.

Oil Services: Raymond James' Outperform-from-Strong Buy ratings reductions include Ensco (ESV) and Noble Energy (NE). Hercules Offshore (HERO) is among those taken to Market Perform from Outperform.

Rambus (RMBS): The tech company is trading lower ahead of the open after getting downgraded to Neutral from Overweight at JPMorgan.

Tractor Supply (TSCO): TSCO is taken to Hold from Buy at Keybanc, which says the risk/reward profile has become more balanced as they look ahead to the coming quarters.

(See also: New Stock Coverage: Unearthing Treasures in eBay's Attic and Stock Upgrades: Groupon Today's Daily Deal.)
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No positions in stocks mentioned.
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