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Stock Downgrades: Don't Hoard Up on Public Storage

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

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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.)
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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