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Stock Downgrades: Plastic Not Fantastic for American Express


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

MINYANVILLE ORIGINAL Cal-Maine Foods (CALM), America's largest egg processor, agreed to acquire certain operations of ailing Pilgrim's Pride (PPC), which was once the nation's largest poultry company. British scientists may have thus been wrong in concluding two years ago that the chicken came first. And Credit Suisse (CS), showing a terribly un-Swiss lack of organization, released results a week early, yet its stock surged. Today at 10:00 a.m. Eastern we get a trio of economic announcements, namely this month's existing home sales, June leading indicators, and the July Philadelphia Fed Index. It's another frenzied session for Q2 earnings with Akzo Nobel (AKZOY), Morgan Stanley (MS), and Verizon (VZ) all due to release results.

Alpha Natural Resources (ANR): Shares are downgraded to Hold from Buy at Brean Murray amid earnings weakness.

American Express (AXP): The Dow company is downgraded to Neutral from Buy at Guggenheim.

Digital Realty Trust (DLR): Shares are downgraded to Market Weight from Overweight at ISI Group.

Potash (POT): Shares are downgraded to Sector Performer from Sector Outperformer at CIBC.

Skyworks (SWKS): The stock is now Hold from Buy at Needham.

3D Systems (DDD): Shares are downgraded to Underweight from Neutral at JPMorgan.

Xcel Energy (XEL): XEL is cut to Hold from Buy at Argus due to valuation.

(See also: New Stock Coverage: Orbit International Remains Earthbound and Stock Upgrades: News Corp. Making Headlines.)
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No positions in stocks mentioned.
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