Stock Downgrades: Dark Day for Lululemon Athletica Inc.


You know it's a dull day on Wall Street when, amid a dearth of economic data, a packaging stock is easily the NYSE's top performer. Not to take anything away from KapStone's ( KS ) 17.90% surge, but with the paper envelope now officially on its last legs , that check may be in the mail for a while.

Annie's Inc. ( BNNY ), which makes a mean mac and cheese, surged 6.41%. Apple Inc. ( AAPL ), which used to make a mean iMac, fell after new product announcements failed to excite. Moving from " my ass " to a big booty , B&G Foods ( BGS ) plundered a Pirate for $195 million.

Elsewhere a star of Sex and the City teamed with the fancy footwear Manolo Blahnik . All the better to deliver a good stiff kick up the rear to Lululemon ( LULU ), whom investors are about to give the bum's rush in a big way.

Today in economics, April wholesale inventories are out at 10:00 a.m. Eastern. On the earnings front, Medical Action (MDCI), Prada (PRDSY), and Ulta Salon, Cosmetics & Fragrance (ULTA) are each expected to report results.

Cemex SAB de CV (ADR) (CX): Scotia Capital moves the Mexican cement giant to Perform from Outperform.

Everest Re Group Ltd (RE): RE gets downgraded to Neutral from Buy at Goldman Sachs.

Kinross Gold Corporation (USA) (KGC): Canaccord cuts the commodity company to Hold from Buy.

Lexicon Pharmaceuticals, Inc. (LXRX): Morgan Stanley moves the stock to Underweight from Equal-Weight.

Lululemon Athletica inc. ( LULU ): Shares, imploding 13.71% as I write, are lowered to Neutral from Buy at UBS after CEO Christine Day unexpectedly announced she is leaving the company.

Maxim Integrated Products Inc. (MXIM): The tech stock, which tumbled 2.49% yesterday, is today taken to Neutral from Positive at Susquehanna.

Moody's Corporation (MCO): A second downgrade in as many days for the firm, today taken to Hold from Buy with a revised $71 price objective at The Benchmark Company. Ratings revenue growth could fall to the low-single digits in the third quarter of 2013, the broker believes.

Roadrunner Transportation Systems Inc (RRTS): Stifel slashes its rating to Hold from Buy amid issues over the stock's steep valuation.

XenoPort, Inc. (XNPT): The stock is taken to Underweight from Equal-Weight at Morgan Stanley.

(See also: New Stock Coverage: Time to Shop at Casey's General Stores and Stock Upgrades: Disney Tries to Engineer a Turnaround Tuesday .)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Stocks

Referenced Stocks: AAPL , BGS , BNNY , KS , LULU



More from Minyanville:

Related Videos



Most Active by Volume

  • $17.88 ▼ 1.38%
  • $18.51 ▼ 6.98%
  • $94.01 ▼ 1.26%
  • $121.30 ▼ 0.87%
  • $23.28 ▼ 9.17%
  • $14.20 ▼ 0.77%
  • $14.83 ▼ 1.79%
  • $46.70 ▼ 0.38%
As of 7/31/2015, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by