Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Stock Downgrades: No Gifts for National Bank of Greece


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

MINYANVILLE ORIGINAL Three years to the day after Michael Jackson died, Michael Jackson saw his AutoNation (AN) slump 4.32% on an analyst downgrade. The King of Pop expired in June 2009, the very month the Great Recession officially did. Alas Jacko is currently performing far better than our economy, even from beyond the grave.

Today at 10:00 a.m. consensus calls for a slight slippage in June consumer confidence. On the earnings front AeroVironment (AVAV), H&R Block (HRB), LDK Solar (LDK), Robbins & Myers (RBN), Sealy (ZZ), and TigerLogic (TIGR) are all due to release results.

Business Software: Cognizant (CTSH) and Sapient (SAPE) both get slashed to Sell from Neutral at Goldman.

Dow Chemical (DOW): The stock is slumping before the bell after being moved to Neutral from Overweight at JPMorgan.

Edwards Lifesciences (EW): EW is now Neutral from Buy at UBS.

Methanex (MEOH): Shares are reduced to Market Perform from Outperform at Raymond James.

Morgan Stanley (MS): Goldman pulls the financial firm from its list of Conviction Buys.

National Bank of Greece (NBG): The beleaguered bank is now Reduce from Neutral at Nomura.

Oil & Gas: Precision Drilling (PDS) and Patterson-UTI Energy (PTEN) are each reduced to Sector Perform from Outperform at RBC Capital.

Public Service (PEG): PEG gets downgraded to Hold from Buy at Jefferies.

ValueClick (VCLK): The stock is now Neutral from Overweight at Piper Jaffray.

Yingli Green Energy (YGE): The Chinese alternative energy outfit gets downgraded to Sell from Neutral at Goldman.

(See also: New Stock Coverage: Google Still Searching for Answers and Stock Upgrades: JPMorgan Scores Whale of an Upgrade.)
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos