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Stock Downgrades: Running Away From Zipcar


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

MINYANVILLE ORIGINAL Harley-Davidson (HOG), down sharply on Wednesday, lost another 1.13% after suffering an analyst downgrade. At least George Clooney saw its crash coming.

Today both houses of Congress, those overworked darlings, are due to rise for summer recess, returning on September 10. This morning in economics, analysts expect the July Institute for Supply Management services index to tick up slightly at 10:00 a.m. Eastern. And in earnings action, the last major week of Q2 reporting seasons concludes with Allianz (AZSEY), Beazer Homes (BZH), Petrobras (PBR), Procter & Gamble (PG), Royal Bank of Scotland (RBS), Toyota Motor (TM), and Viacom (VIAB) all expected to report results.

Air Transport Services Group (ATSG): The small cap is cut to Hold from Buy at Dahlman Rose after earnings.

Allstate (ALL): ALL is now Neutral from Buy at UBS based on valuation. The target is $38.80.

Annaly Capital Management (NLY): Shares are downgraded to Hold from Buy at Wunderlich.

Becton Dickinson (BDX): Shares are downgraded to Underperform from Outperform at CLSA.

Intuit (INTU): INTU is downgraded to Equal Weight from Overweight at Barclays.

Jack In The Box (JACK): JACK is downgraded to Neutral from Buy at Lazard.

MGIC Investment (MTG): MTG gets moved to Market Perform from Outperform at FBR Capital on account of its unexpectedly large 2Q12 loss.

Molycorp (MCP): MCP is downgraded to Underweight from Neutral at JPMorgan.

Nokia (NOK): Shares are lower after Goldman Sachs slashed the stock to Sell from Neutral, citing recent strength as "a selling opportunity."

Nordstrom (JWN): JWN is now Neutral from Outperform at Robert W. Baird.

Obagi Medical (OMPI): The stock is downgraded to Hold from Buy at Cantor Fitzgerald.

RenaissanceRe (RNR): RNR gets reduced to Neutral from Buy at Citigroup.

SABMiller (SBMRY): Shares are downgraded to Hold from Buy at Société Générale.

Spartan Stores (SPTN): The stock is downgraded to Market Perform from Outperform at BMO Capital.

Two Harbors Investment (TWO): TWO is downgraded to Hold from Buy at Wunderlich.

Zipcar (ZIP): ZIP is downgraded to Hold from Buy at Needham.

(See also: New Stock Coverage: Triumph Group Looks Like a Winner and Stock Upgrades: Pounding the Table on OpenTable.)
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