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Stock Downgrades: Research In Motion Stuck in Rut


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

MINYANVILLE ORIGINAL As the summer solstice arrived, First Solar (FSLR) surged 14% to top the S&P 500 and Sun Healthcare (SUNH) jumped 42.13%. Over in the Land of the Midnight Sun, Stockholm's own Hennes & Mauritz (HNNMY) gained 9.8%. The hometown hero should award stock options to Lena Pettersson, a Swedish woman reimbursed by Kenya Airways for being seated next to a dead man. Or simply give her shares of Spirit Airlines (SAVE), which levitated 9.0%. Hosni Mubarak, ousted from power in a phony Facebook (FB) 'revolution' whose results are now officially in the 'be careful what you wish for' category, flits between life and death. The social network itself meanwhile shows signs of the former after a 10% increase.

Today in economics, analysts expect a slight increase in May new home sales at 10:00 a.m. Eastern. Quarterly earnings announcements are expected out of Apollo Group (APOL), HB Fuller (FUL), Park Electrochemical (PKE), and Synnex (SNX).

ABB Limited (ABB): The European company is lower in London today after JPMorgan Cazenove cut it to Underweight from Neutral.

AngioDynamics (ANGO): Shares are downgraded to Hold from Buy at Canaccord Genuity.

Arena Pharmaceuticals (ARNA): Shares are slumping before the bell on a downgrade to Market Perform from Outperform by BMO Capital.

AutoNation (AN): AN is now Sell from Hold at Deutsche Bank.

Ball Corp (BLL): Shares are downgraded to Neutral from Overweight at JPMorgan.

Business Services: Automatic Data Processing (ADP) is downgraded to Equal Weight from Overweight by Barclays, which cuts Paychex (PAYX) to Underweight from Equal Weight.

Deutsche Bank (DB): DB is downgraded to Sector Perform from Outperform at RBC Capital.

Elster (ELT): Shares are taken to Hold from Buy with Wunderlich, whose objective is $18.

Emulex (ELX): ELX is downgraded to Hold from Buy at ThinkEquity.

GeoEye (GEOY): Shares get downgraded to Hold from Buy at Benchmark, which says it could default on its bonds in April 2013.

Greif (GEF): The company gets downgraded to Neutral from Overweight at JPMorgan.

Halliburton (HAL): HAL is now Neutral from Buy at Pritchard.

Immersion (IMMR): The stock is slashed to Sell from Hold at Capstone.

Kirby Corp (KEX): Bank of America-Merrill Lynch cuts KEX Neutral from Buy.

Meru Networks (MERU): MERU is moved to Market Perform from Outperform at JMP Securities.

Protalix BioTherapeutics (PLX): Shares are downgraded to Market Perform from Outperform with Wells Fargo.

Research In Motion (RIMM): The stock, which slumped 9.5% last week, is downgraded to Underweight from Equal Weight at Morgan Stanley.

Swisher Hygiene (SWSH): Shares are now Neutral from Outperform at Robert W. Baird.

(See also: New Stock Coverage: Michael Kors Dressed to Make a Killing and Stock Upgrades: Fertilizer Stocks Pass Smell Test.)
No positions in stocks mentioned.
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