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Stock Downgrades: Caterpillar Not Playing in Peoria


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

MINYANVILLE ORIGINAL A birthday upgrade of Disney (DIS) saw it advance 3.11% to top the Dow (^DJI) and enabling it to end at the highest level in its history. Analysts have high hopes for its forthcoming Frozen, a movie apparently about the firm's founder Walt who, with the price of ice currently on fire, clearly had the right idea.

This morning at 10:00 a.m. Eastern Ben Bernanke concludes his semi-annual testimony to Congress, and the Fed's Beige Book survey of regional economic conditions is released at 2:00 p.m. Hump day of peak week for Q2 earnings is here, with American Express (AXP), Bank of America (BAC), Credit Suisse (CS), eBay Inc. (EBAY), and International Business Machines (IBM) among a multitude of announcements.

Acadia Healthcare (ACHC): The company is cut to Hold from Buy at Deutsche Bank.

American Tower (AMT): AMT is taken to Neutral from Buy at Citigroup.

AuRico Gold (AUQ): The small cap is downgraded to Hold from Buy at Canaccord Gentuity.

Autoliv (ALV): ALV is now Neutral from Outperform at Robert W. Baird, which cuts its target price by $10 to $59. An investor re-balancing away from autos is occurring amid concerns over the industry's high international macroeconomic exposure.

Caterpillar (CAT): The Peoria-based company, a key Dow component, is cut to Hold from Buy at Jefferies.

Cinemark (CNK): CNK is downgraded to Hold from Buy at Stifel Nicolaus.

CSR plc (CSRE): Shares are now Neutral from Buy at UBS.

Cymer (CYMI): CYMI is cut to Equal Weight from Overweight by Barclays.

Fortescue Mining (FSUMF): The iron ore firm fell overnight in Asia after a Hold-from-Buy downgrade at Deutsche Bank.

Kennametal (KMT): Jefferies cuts KMT to Hold from Buy.

Lifepoint Hospitals (LPNT): Shares are lowered to Neutral from Positive at Susquehanna.

New Oriental Education & Technology (EDU): The stock is downgraded to Hold from Buy at Jefferies.

Rovi Cor.p (ROVI): ROVI is reduced to Market Perform from Outperform at BMO Capital.

Royal Dutch Shell (RDS-A): Shares are downgraded to Sector Perform from Top Pick at RBC Capital.

Saks Inc. (SKS): The stock is slashed to Sell from Neutral at Goldman.

Staples (SPLS): Shares are downgraded to Neutral from Buy at UBS.

Starwood Hotels (HOT): HOT is downgraded to Hold from Buy at Argus due to its international exposure.

Tesla Motors (TSLA): Shares are tumbling ahead of the open on a cut to Sell from Buy with an $28 objective with Wunderlich.

Titan International (TWI): TWI is taken to Hold from Buy at Jefferies.

Tower International (TOWR): Robert Baird moves the metal fabrication company to Neutral from Outperform and also reduces its price objective by $7, to $11.

Whole Foods (WFM): Shares are downgraded to Perform from Outperform at Williams Capital Group.

(See also: Stock Upgrades: Tiffany's Time to Shine and New Stock Coverage: Is Aflac All It's Quacked Up to Be?)
No positions in stocks mentioned.
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