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Stock Downgrades: Tempur Pedic Sleeps With the Fishes

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

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MINYANVILLE ORIGINAL Green Mountain Coffee Roaster (GMCR) gained 6.86% but over in the Emerald Isle Starbucks (SBUX) is in hot water. Guinness is much more popular in Dublin anyway and its owner Diageo (DEO) ended up 4.24% on a billion pound investment in Scotch whisky. (Or whiskey; it can certainly afford to buy a vowel.) Ireland's own budget carrier Ryanair (RYAAY) shrugged of a research reduction at JPMorgan (JPM), whose head flies private jets, to head 3.10% higher. Its shareholders are in a good mood and will be seated accordingly. And as for "Sex or Sleep"?" it's no contest after mattress maker Tempur Pedic (TPX) tumbled 48.73%.

Today in economics, Fed head Ben Bernanke begins congressional testimony at 10:00 a.m. Eastern and April consumer credit is expected to contract at 3:00 p.m. On the earnings front, Altera (ALTR), Bio-Reference Labs (BRLI), Cascade Corp (CASC), Isle of Capri Casinos (ISLE), J.M. Smucker (SJM), Lululemon Athletica (LULU), and Titan Machinery (TITN) are all due to release results.

Analogic (ALOG): ALOG is downgraded to Hold from Buy with a $66 target at Needham.

Juniper Networks (JNPR): Shares are lower before the bell on a downgrade to Hold from Buy at Needham.

Oil Services: Patterson-UTI Energy (PTEN) and Baker Hughes (BHI) get downgraded to Neutral from Outperform at Macquarie.

Regional Banks: Bridge Capital (BBNK) is downgraded to Market Perform from Outperform at Raymond James, which does the same to Central Valley Bancorp (CVCY).

Tempur Pedic (TPX): The mattress maker is moved to Neutral from Overweight at Piper Jaffray.

(See also: Stock Upgrades: Britain's Burberry Looks Like Royalty and New Stock Coverage: Money Talks at Charter Communications.)
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.

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