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Stock Downgrades: Jacobs Engineering Not Building Ladder to Stars

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

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MINYANVILLE ORIGINAL A lukewarm analyst initiation was powerless to prevent CIT Group (CIT) from gaining 2.91%. Its CEO John Thain, who once hurt Merrill Lynch (BAC) shareholders with a million dollar office redecoration during the depths of a recession, was presumably equally delighted with a 3.28% post-earnings advance in Hooker Furniture (HOFT).

And Harry Winston Diamond (HWD) rode its own earnings to end up 5.07%. The stock is still sharply lower over the past 12 months but, much like that jewel thief currently imbibing laxatives after eating 1.5 carats, this too shall pass.

Today's quarterly earnings announcements are expected to include Brady Corp. (BRC), Kroger (KR), and Lululemon Athletica (LULU).

Allied Nevada Gold (ANV): Shares are downgraded to Underperform from Neutral at Macquarie.

Apollo Group (APOL): The stock is slashed to Sell from Hold at Deutsche Bank, which cites risks to growth and profitability. The target is also taken down, to $25.

Audience Inc (ADNC): Shares are now Neutral from Overweight at JPMorgan.

Big 5 Sports (BGFV): The stock is downgraded to Underperform from Neutral at Credit Suisse.

Brigus Gold (BRD): The micro-cap is moved to Neutral from Accumulate at Global Hunter.

DCT Industrial Trust (DCT): DCT gets downgraded to Hold from Buy at ISI Group.

Digital Domain Media Group (DDMG): Shares are now Neutral from Buy at Roth Capital on concerns the company will face a cash shortage.

Gartner Inc (IT): IT is downgraded to Neutral from Buy at Lazard Capital.

Horizon Technology Finance (HRZN): Shares are downgraded to Market Perform from Outperform with Wells Fargo.

Jacobs Engineering (JEC): The stock is now Neutral from Buy at Lazard Capital.

MetroPCS (PCS): PCS is downgraded to Neutral from Outperform at Macquarie.

Nvidia (NVDA): NVDA is now Hold at Cantor Fitzgerald.

Seattle Genetics (SGEN): Shares are downgraded to Perform from Outperform at Oppenheimer.

Sunoco (SUN): The stock is cut to Neutral from Buy at Citigroup.

Teck Resources (TCK): TCK is taken to Hold from Buy at Dahlman Rose.

Wolverine World Wide (WWW): Shares are downgraded to Neutral from Positive at Susquehanna.

Weyerhaeuser (WY): The stock is now Neutral from Conviction Buy at Goldman.

Williams-Sonoma (WSM): The company is cut to Hold from Buy at BB&T Capital.

(See also: New Stock Coverage: Franklin Resources Is All About the Benjamins and Stock Upgrades: Priceline Going Places.)
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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