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Stock Downgrades: Body Blow for Body Central


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

MINYANVILLE ORIGINAL Electric utility Consolidated Edison (ED), whose employees every New Yorker will tell you toil extremely hard, increased 0.60% to an all-time high, so thieves should stop stealing its manhole covers and instead invest in the stock. Or at least sell the pilfered items on eBay Inc. (EBAY), which advanced 4.48% to stand at a six year summit after an upbeat analyst initiation. When Homer, the epic native poet, informed us, "Europe puts Greece on eBay," he may have been crazy like a fox. That town in Alaska that was the victim of a Taco Bell hoax can find comfort in a 2.98% rise in Chipotle Mexican Grill (CMG). B&G Foods (BGS), which makes tacos, tortillas, and enchiladas, jumped 2.47% to the highest level in its history. Alas over in Los Cabos, President Obama looked like he sucked on a lemon in a fraught meeting with Vladimir Putin.

The Fed starts its two day policy meeting this morning. In earnings action, Adobe (ADBE), Barnes & Noble (BKS), Discover Financial (DFS), FedEx (FDX), Jefferies Group (JEF), John Wiley & Sons (JW-A), and La-Z-Boy (LZB) are all due to report results.

AK Steel (AKS): AKS is now Neutral from Buy at UBS.

Body Central (BODY): Shares are downgraded to Neutral from Buy at Robert W. Baird, which slashes its target to $9 from $25 as the turnaround is taking longer than expected.

Brinker International (EAT): EAT is downgraded to Outperform from Strong Buy at Raymond James.

Capstone Turbine (CPST): Shares are downgraded to Perform from Outperform.

Celestica (CLS): Shares are downgraded to Hold from Buy at Argus.

Elster (ELT): Shares are cut to Hold from Buy at Keybanc.

Expedia (EXPE): Shares are lower this morning after a downgrade to Neutral from Overweight at Piper Jaffray.

Keynote Systems (KEYN): KEYN is cut to Hold from Buy at Craig Hallum.

Monster Beverage (MNST): Crédit Agricole cuts the soda stock to Underperform from Neutral.

Société Générale (SCGLF): Shares are taken by Morgan Stanley to Equal-Weight from Overweight.

Synacor (SYNC): Shares are downgraded to Hold from Buy at Needham.

Timken (TKR): Bank of America-Merrill Lynch takes TKR to Neutral from Buy.

Volvo (VOLVY): The Swedish car company is cut Neutral from Overweight at HSBC Securities.

(See also: Stock Upgrades: Consulting Oracle Proves Profitable and New Stock Coverage: TripAdvisor Going Nowhere?)
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No positions in stocks mentioned.
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