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: Checks Bouncing at Burberry


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

MINYANVILLE ORIGINAL Geron Corp. (GERN) fell 55.86%, making it easily the Nasdaq's (^IXIC) poorest performer. The company is best known for conducting the world's first clinical trial of an embryonic stem cell therapy. Stem cells predictably dominate today's front page, along with other perennial political hot potatoes, such as Social Security and whether tax cuts can give our moribund economy a lift. September 11, 2012? No, September 11, 2001, which like this one was a Tuesday bathed in brilliant sunshine. So little has changed. And so much.

AmerisourceBergen (ABC): Shares are now Neutral from Conviction Buy at Goldman Sachs, which is concerned about a lack of catalysts. The target price is also taken down by $3 to $42.

Burberry (BURBY): The upscale British fashion retailer, famous for its check patterns, is Neutral from Buy at Nomura. Shares are sliding some 19% in London this morning.

Coach (COH): The luxury retailer is downgraded to Hold from Buy at Brean Murray due to valuation issues.

ING Groep (ING): Shares get downgraded to Neutral from Outperform at Macquarie.

Louisiana-Pacific (LPX): Crédit Agricole lowers LPX to Underperform from Outperform.

Majesco Entertainment (COOL): COOL is cut to Hold from Buy at Needham.

Navidea Biopharmaceuticals (NAVB): The small cap is now Hold from Buy at ThinkEquity amid a lack of visibility on the FDA's review process.

Owens-Illinois (OI): Shares are slashed to Neutral from Buy at Citigroup.

Quaker Chemical (KWR): Janney Montgomery Scott moves the stock to Neutral from Buy.

TIBCO Software (TIBX): TIBX is taken to Hold from Buy at ThinkEquity.

Unicredit (UNCFF): The Italian financial firm gets reduced to Hold from Buy at Société Générale.

Watson Pharmaceuticals (WPI): The stock, at all time highs, is downgraded to Buy from Conviction Buy at Goldman due to relative valuation.

(See also: Stock Upgrades: Smooth Sailing for Catamaran Corp. and New Stock Coverage: Cable Guy Says Buy Comcast.)
< 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