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Stock Downgrades: Ryanair Set for Hard Landing


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

MINYANVILLE ORIGINAL Facebook (FB) fell a further 3.83%, dropping below $26 for the first time in taking its post-IPO tumble to over 30%. Mark Zuckerberg never completed college but an 89 year old just got a degree in public relations, something the social network sorely lacks at the moment. Sheryl Sandberg, hire him. Digital Domain Media Group (DDMG), which brought Tupac back from the grave, slid 6.65% and funeral home operator Carriage Services (CSV) gave up the ghost and gapped down 3.40%. Today in economics, the Fed's beige book survey of regional economic conditions will be released at 2:00 pm Eastern. In earnings action, Annie's Inc. (BNNY), Brown-Forman (BF-B), Cyberonics (CYBX), Harry Winston Diamond (HWD), Men's Wearhouse (MW), Stewart Enterprises (STEI), and Vail Resorts (MTN) are all due to report results.

FirstMerit Corp. (FMER): Robert W. Baird reduces its rating on the stock to Underperform from Neutral, and takes its target down by $2 to $13 from $15. As prospects of recession grow stronger and the likelihood of continued core profitability compression intensifies, it believes tangible book multiple compression is more likely than multiple expansion.

Nationstar Mortgage (NSM): NSM is now Neutral from Buy at Citigroup.

Rackspace (RAX): Jefferies reduces RAX to Hold from Buy at Jefferies.

Ryanair (RYAAY): Shares of the low cost carrier are cut to Underweight from Neutral with JPMorgan.

Sherwin-Williams (SHW): The paint company is moved to Underperform from Neutral at Bank of America-Merrill Lynch.

Symantec (SYMC): Shares are downgraded to Perform from Outperform at FBR Capital, which takes its target to $16 from $20. Recent field checks leaves the brokerage concerned over further disruption in the storage and server business, which represents about 35% of total revenues.

Vishay (VSH): The stock is lower before the opening bell on a downgrade to Neutral from Overweight at JPMorgan.

(See also: New Stock Coverage: Cash America No Pawn Star and Stock Upgrades: Time to Say Hello to Tata Motors?)
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