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Stock Downgrades: Don't Hoard Up on Public Storage


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

MINYANVILLE ORIGINAL The Expendables 2 was the week's best-performing movie, in another win for distributor Lions Gate Entertainment (LGF). That studio was also behind The Hunger Games. A looming global food crisis is anything but a game, and means it is an especially inopportune time to introduce a line of ultra premium pet food. Wal-Mart (WMT) just did, and tumbled 2.3%.

It's the start of another relatively quiet week in economic data but today's earnings announcements are expected to include Corinthian Colleges (COCO), Delia's (DLIA), Fabrinet (FN), Lowe's (LOW), Tuesday Morning (TUES), and Urban Outfitters (URBN).

AstraZeneca (AZN): Shares are lower in London this morning after JPMorgan moved the pharmaceutical firm to Underweight from Neutral.

Bebe Stores (BEBE): The stock is now Neutral from Buy at Janney Capital, whose concerns include the resignation of President Emilia Fabricant. The price objective is $6.

CapitalSource (CSE): CSE gets cut to Neutral from Buy at Janney Capital.

East West Bancorp (EWBC): The company is downgraded to Neutral from Buy at DA Davidson.

Home Renovation Stocks: Armstrong World Industries (AWI) and Stanley Black & Decker (SWK) are each downgraded to Equal Weight from Overweight by Barclays.

National Research (NRCI): NCRI is now Equal Weight from Overweight at First Analysis.

Pharmacyclics (PCYC): Roth Capital reduces its rating to Neutral from Buy.

Public Storage (PSA): PSA is downgraded to Underperform from Sector Perform with a $139 price objective at RBC Capital amid its steep valuation.

RDA Microelectronics (RDA): RDA is reduced to Neutral from Buy at UBS.

Repsol (REPYY): RBC Capital cuts the energy company to Sector Perform from Top Pick. Its objective is $16.

Seagate Technology (STX): Shares are downgraded to Hold from Buy at Stifel Nicolaus after recent strength.

StemCells (STEM): The small cap is cut to Neutral from Buy at Roth Capital.

Telecom Italia (TI): TI is lower this morning after being taken to Neutral from Overweight at JPMorgan.

Toro (TTC): Shares are downgraded to Perform from Outperform at Raymond James.

Yanzhou Coal Mining (YZC): The company is cut to Sell from Hold at Deutsche Bank.

Zagg Inc. (ZAGG): ZAGG is now Neutral from Buy at Janney Capital, whose objective is $11.

(See also: Stock Upgrades: Learning to 'Like' Facebook and New Stock Coverage: Vitamin Cottage Can Keep Your Portfolio Healthy.)
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No positions in stocks mentioned.
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