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Stock Downgrades: State Street on Skid Row


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

MINYANVILLE ORIGINAL It was the 1930s redux with the grapes of wrath sending the world's largest wine maker Constellation Brands (STZ) up 31.45% while Dust Bowl days made an ominous comeback. If we've seen such a movie before, it must have been on Netflix (NFLX), which jumped 20% in four holiday-shortened sessions.

Fireworks week saw firearms firm Smith & Wesson (SWHC) rise 25.71%, amid preparations for the zombie apocalypse. And while we proudly sang Neil Diamond's Coming to America for the Fourth, America's Bob Diamond was regretting ever going to Britain, after his Barclays (BCS) fell 15.25%.

Today in economics, May consumer credit comes out at 3:00 p.m. Eastern. On the corporate front, Alcoa (AA) unofficially ushers in what is expected to be no more than a mediocre Q2 earnings season when it releases results after the close.

Alaska Air (ALK): ALK is downgraded to Underweight from Equal Weight at Barclays.

Astec Industries (ASTE): Shares are downgraded to Hold from Buy at BB&T Capital.

Boston Beer (SAM): The company is cut to Sell from Neutral at UBS.

Carrizo Oil & Gas (CRZO): CRZO is downgraded to Market Perform from Outperform at BMO Capital.

Cousins Properties (CUZ): Shares are downgraded at Cantor Fitzgerald to Sell from Hold.

Credit Card Companies: MasterCard (MA) and Visa (V) are each downgraded to Sell from Neutral at UBS, sending each lower before the open.

Dollar Tree (DLTR): DLTR is downgraded to Underweight from Equal Weight at Morgan Stanley.

Food Related stocks: Smithfield Foods (SFD) and Archer Daniels (ADM) are each moved to Market Perform from Outperform at BMO Capital.

Lam Research (LRCX): LRCX is lowered to Outperform from Buy at Credit Agricole.

Lincare (LNCR): Shares are downgraded to Hold from Buy at Jefferies.

Ormat Tech (ORA): The stock is taken to Underweight from Equal Weight at Barclays.

Pan Am Silver (PAAS): The commodity company is cut to Hold from Buy at Deutsche Bank.

Pearson Plc (PSO): PSO is now Neutral from Buy at Citigroup.

PetSmart (PETM): Shares are downgraded to Hold from Buy at Needham amid valuation concerns.

Public Storage (PSA): PSA is now Neutral from Overweight at Robert W. Baird, whose target is $148.

SolarWinds (SWI): Shares are moved to Market Perform from Outperform at FBR Capital.

State Street (STT): The stock gets downgraded to Neutral from Buy at Goldman.

TD Ameritrade (AMTD): AMTD is taken to Sell from Neutral at Goldman.

Tyson Foods (TSN): The poultry powerhouse is downgraded to Market Perform from Outperform at BMO Capital.

(See also: New Stock Coverage: All´s Well With Wells Fargo and Stock Upgrades: Corrections Corp. About to Break Out.)
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