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Stock Downgrades: Check Not in the Mail for FedEx


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

MINYANVILLE ORIGINAL Iron-ore powerhouse Cliffs Natural Resources (CLF) slumped 6.03% to its lowest level since 2009. Iron Man 2 will no longer be exclusive to Netflix (NFLX), sending it sliding 6.35% even as Amazon (AMZN) reached an historic peak on the news. An analyst upgrade propelled ConAgra Foods (CAG), maker of Orville Redenbacher's popcorn, up 2.15% but Digital Domain Media Group (DDMG), which once brought him back from the Deadenbacher, is officially on life support after losing another 31.88%.

Today's earnings announcements are due to include AeroVironment (AVAV), Conn's Inc. (CONN), Dollar General (DG), H&R Block (HRB), Harry Winston Diamond (HWD), Men's Wearhouse (MW), SeaChange International (SEAC), and VeriFone(PAY).

Advanced Micro Devices (AMD): Shares are now Neutral from Buy at UBS due to structural industry shifts towards smartphones and tablets. The price target is taken to $4 from $6.25.

Cardinal Health (CAH): CAH is downgraded to Market Perform from Outperform at William Blair.

Cliffs Natural Resources (CLF): CLF gets cut to Underperform from Neutral at Credit Suisse due to falling near-term iron ore prices.

Coal Companies: Alpha Natural Resources (ANR) is cut to Outperform from Strong Buy at Raymond James, which moves James River Coal (JRCC), Peabody Energy (BTU), and Walter Energy (WLT) to Market Perform from Outperform.

Expedia (EXPE): Shares are downgraded to Hold from Buy at Jefferies.

FedEx (FDX): The stock is downgraded to Market Perform from Outperform at Wells Fargo, which cites slower growth and a lack of visibility.

Francesca's (FRAN): FRAN is now Hold from Buy at Jefferies.

HSN Inc. (HSN): The parent of Home Shopping Network is now Hold from Buy with Wunderlich.

Louisiana-Pacific (LPX): LPX gets lowered to Reduce from Hold at TD Securities.

STMicroelectronics (STM): Shares are slumping in Europe this morning after BNP Paribas downgraded it to Underperform from Neutral.

(See also: Stock Upgrades: Time Warner Ticking Over Nicely and New Stock Coverage: Petrobras Way to Play Brazil Boom.)

(See also: SEC Says Retail Investors Are Clueless About Stocks.)
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No positions in stocks mentioned.
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