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Stock Downgrades: Bleak Future for Fossil


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

MINYANVILLE ORIGINAL Fresh produce purveyor Le Gaga Holdings (GAGA) lost 5.14% yet it remains a better bet than her family restaurant. (STMP) slumped 5.77%; expect a check in the mail in about half a century. And Cablevision (CVC), based in the famous golfing town of Bethpage, bucked a bad day to end higher after getting upgraded at Bank of America's (BAC) Merrill Lynch unit, where the CEO once played rather too much golf.

It's a torrid Tuesday for quarterly earnings announcements, with Apple (AAPL), AT&T (T), Biogen Idec (BIIB), DuPont (DD), EMC Corp. (EMC), Netflix (NFLX), SAP AG (SAP), United Parcel Service (UPS), and Whirlpool (WHR) all expected to release results.

AptarGroup (ATR): ATR is downgraded to Sell from Neutral at Goldman due to volume pressures in its Beauty and Home segment.

Berry Petroleum (BRY): Shares are downgraded to Hold from Buy at Stifel Nicolaus.

Chipotle Mexican Grill (CMG): CMG gets downgraded to Hold from Buy at Argus.

CNOOC (CEO): CEO is cut to Underperform from Hold at Jefferies.

DeVry (DV): Shares, slumping before the bell, are downgraded to Perform from Outperform at Oppenheimer due to revenue and margin concerns.

Elster (ELT): ELT is downgraded to Equal Weight from Overweight by Barclays.

Fossil (FOSL): Shares are now Neutral from Overweight at Piper Jaffray, which also lowers its price target to $76 from $128.

Health Management Associates (HMA): HMA gets moved to Hold from Buy at Jefferies.

InterMune (ITMN): Shares are downgraded to Hold from Buy at Canaccord Genuity.

ITT Educational (ESI): ESI is moved to Underweight from Neutral at JPMorgan.

Mizuho Financial (MFG): The stock is downgraded to Hold from Buy at Jefferies.

Nordic American Tanker (NAT): NAT is now Underweight from Equal Weight at Evercore.

PulteGroup (PHM): Shares are downgraded to Negative from Neutral at Susquehanna.

RadioShack (RSH): RSH is reduced to Sell from Neutral at UBS.

Regency Centers (REG): REG is downgraded to Hold from Buy at Deutsche Bank.

Wireless Infrastructure: Crown Castle (CCI) and American Tower (AMT) are each downgraded to Equal Weight from Overweight at Evercore.

ZELTIQ (ZLTQ): Shares are moved to Market Perform from Outperform at William Blair.

(See also: New Stock Coverage: Tough Task for Burger King to Regain Its Crown and Stock Upgrades: Talisman Energy a Good Luck Charm.)
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No positions in stocks mentioned.
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