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Stock Downgrades: Cutting the Cord on Cablevision

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

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MINYANVILLE ORIGINAL While Wall Street's glass remained distinctly half-empty yesterday, six pack abs and beer bellies both fared just fine, with the well-toned models of Abercrombie & Fitch (ANF) seeing it surge 34.45% and Groupon's (GRPN) ale-swilling CEO enjoying a 3.80% gain in that stock. Spanish Broadcasting System (SBSA) tumbled 2.73%, its checks sadly bouncing like so many rubber bullets back in Iberia as Madrid again went on strike. And Home Depot (HD), its shares recently more on fire than its Atlanta neighbor Tara, cooled off after a ratings reduction sent in sliding 3.01%.

Today in economics, Philadelphia Fed Index for November is out at 10:00 a.m. Eastern. In earnings action, Ahold (AHONY), Autodesk (ADSK), Buckle Inc. (BKE), Dollar Tree (DLTR), Dell Inc. (DELL), Gap Inc. (GPS), GameStop (GME), Intuit (INTU), Ross Stores (ROST), Sears Holdings (SHLD), Target (TGT), Viacom (VIA), and Wal-Mart (WMT) are all due to report results.

Ameriprise Financial (AMP): AMP gets downgraded to Outperform from Top Pick at RBC Capital.

Cablevision (NYSE:CVC) The stock is slashed to Sell from Neutral at Goldman Sachs, which cites an increase in both costs and competition. Its price objective is $11.

E.ON (EONGY): JPMorgan moves the German energy giant, the target of several analyst downgrades this week, to Underweight from Equal Weight.

GDF Suez (GDFZY): Shares are now Underweight to Neutral at HSBC Securities.

IAMGOLD (IAG): The commodity company, which cratered 19.45% yesterday and has been upgraded elsewhere this morning, is cut to Sector Perform from Outperform at CIBC World Markets.

Moneygram International (MGI): Credit Suisse moves the name to Neutral from Outperform.

Natixis (NTXFY): Shares are now Neutral from Buy at BNP Paribas.

Paychex (PAYX): Troubled by an absence of robust US payroll growth, Credit Suisse transitions to a Neutral from Outperform on the stock. Its target is also trimmed by $1, to $35.

Puma Biotechnology (PBYI): Shares are taken to Neutral from Buy at Sun Trust.

Teavana (TEA): Yesterday's 52.52% gainer, no longer trading on fundamentals following a $620 million cash acquisition by Starbucks (SBUX), is downgraded to Hold from Buy at KeyBanc Capital.

Tri-Tech Holding (TRIT): TRIT gets taken to Hold from Buy at Brean Capital, which cites a loss of momentum in the company's core business model.

Walter Energy (WLT): Bank of America-Merrill Lynch cuts the coal company to Underperform from Neutral.

(See also: New Stock Coverage: Analyst Puts AT&T on Hold and Stock Upgrades: Spirit Airlines Is About to Levitate.)
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No positions in stocks mentioned.
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