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Stock Downgrades: Bleak Future for Fossil

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

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MINYANVILLE ORIGINAL Fresh produce purveyor Le Gaga Holdings (GAGA) lost 5.14% yet it remains a better bet than her family restaurant. Stamps.com (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.)
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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