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Stock Downgrades: Aqua America Under Water


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

MINYANVILLE ORIGINAL Morgan Stanley (MS) dropped 3.80% even as its pig-loving madam may soon be able to afford bail. And speaking of PIIGS, the quadrennial European soccer tournament kicks off today. Last won by Greece (in 2004) and Spain (in 2008), it is cleverly employing a psychic pig to predict results. Hopefully, however, the hog won't say "I guarantee it!" when making his decision. Not when Men's Wearhouse (MW) just imploded 18.89%. Today in economics, April wholesale inventories are expected to increase at 10:00 a.m. Eastern. In earnings action, Duckwall-Alco Stores (DUCK), Ferrellgas Partners (FGP), KMG Chemicals (KMGB), Piedmont Natural Gas (PNY), and Rand Logistics (RLOG) are all due to release results.

Air Products (APD): APD is downgraded to Neutral from Outperform at Robert W. Baird, whose objective is $95. 2015 targets seem unattainable and may need to be revised lower.

Aqua America (WTR): WTR is downgraded to Neutral from Buy at Janney Montgomery Scott.

Beazer Homes (BZH): Citi cuts the small cap stock to Sell from Buy at Citigroup.

CACI International (CACI): Shares are downgraded to Sector Perform from Outperform at RBC Capital.

Hennes & Mauritz (HNNMY): The Swedish fashion retailer better known as H&M is lower in Europe today after Société Générale cut it to Sell from Hold. Gross margin could see pressure from a weak euro relative to the greenback.

Lennar (LEN): LEN is lowered to Sell from Neutral at Citigroup.

Navistar (NAV): NAV gets downgraded to Hold from Buy at Deutsche Bank.

NetApp (NTAP): NTAP is now Equal Weight from Overweight at Barclays.

Red Robin Gourmet Burgers (RRGB): Shares are cut to Hold from Buy at Jefferies.

(See also: Stock Upgrades: Jack in the Box Set to Jump and New Stock Coverage: Cisco Systems Plots Route to Riches.)
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No positions in stocks mentioned.
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