Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Stock Downgrades: Nobel Biocare Not Winning Any Prizes


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

MINYANVILLE ORIGINAL Jon Corzine, who managed to misplace a billion bucks at MF Global (MFGLQ), not only won't face criminal charges, but now apparently wants to manage other people's money. Learning the lyrics to Jailhouse Rock, which got fresh airplay yesterday as the world marked the anniversary of Elvis' death, may be a more appropriate pursuit for the ex-Goldman (GS) CEO.

And speaking of lockups, Facebook (FB) slid 6.27% in touching a post-IPO low of $19.69. In the immortal words of Elvis' final song, shares are "Way down, down, way, way on down."

Today in economics, the University of Michigan's preliminary consumer sentiment survey for August is out at 9:55 a.m. Eastern, with July leading indicators arriving at 10:00 a.m. In earnings action, Ann Inc. (ANN), Casual Male Retail Group (CMRG), Foot Locker (FL), Hibbett Sports (HIBB), JM Smucker (SJM), and Kirkland's (KIRK) are all due to report results.

Acme Packet (APKT): Shares are downgraded to Underperform from Market Perform at Raymond James due to additional delays in North American Tier 1 carrier spending.

CRH Plc (CRH): Credit Suisse cuts the British building materials maker to Underperform from Neutral.

Deutsche Post (DPSGY): The company is downgraded to Neutral from Buy at UBS.

Gardner Denver (GDI): GDI gets downgraded to Hold from Buy at Capstone Investments.

Groupon (GRPN): Shares, slumping to all time lows, get downgraded to Underweight from Equal Weight at Evercore.

Julius Baer (JBAXY): The Swiss bank, which just bought an international wealth management unit of Merrill Lynch (BAC), is now Neutral from Buy at Citigroup.

Liberty Interactive (LINTA): Shares are lowered to Equal-Weight from Overweight at Morgan Stanley.

Marvell Technology (MRVL): MRVL is moved to Sector Perform from Outperform at RBC Capital.

McKesson (MCK): Morgan Stanley cuts the wholesale drug company to Equal-Weight from Overweight.

Molycorp (MCP): The stock, at all time lows, is downgraded to Hold from Buy at Dahlman Rose. There are concerns over whether the Mountain Pass project will be completed on time.

MYR Group (MYRG): Robert W. Baird reduces its rating on the electrical construction outfit to Neutral from Outperform.

Nobel Biocare (NBHGY): Shares are now Neutral from Buy at Nomura.

Vivus (VVUS): The stock is slumping ahead of the open on a downgrade to Underperform from Hold with a $16 objective at Jefferies, which notes physicians' ability to prescribe generic topiramate and phentermine.

WellPoint (WLP): The managed care company gets cut to Equal-Weight from Overweight with Morgan Stanley.

(See also: Stock Upgrades: Viacom Enjoys View From Jersey Shore and New Stock Coverage: Doughnuts-to-Dollars for Krispy Kreme.)
< Previous
  • 1
Next >
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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos