Stock Downgrades: Don't Buy Taser International, Bro!


The S&P 500 (INDEXSP:.INX) endured its worst day in more than two months as the world finally opened its eyes to the tyrant who trained in ophthalmology . (Oddly enough, TheraTears owner Akorn, Inc. ( AKRX ) surged 9.61% to hit an all-time high amid the bloodbath after acquiring Hi-Tech Pharmacal ( HITK ) - itself up 22.10% - with the aim of creating an eye care products powerhouse.) One hopes Assad owns neither but, as an avid Instagram user , was instead long its owner, as Facebook ( FB ) fell fully 4.11%. Precious little worked in equities yesterday. Not Four Weddings , with Tiffany ( TIF ) tumbling 1.04%, nor A Funeral , since cemetery stock Carriage Services ( CSV ) slumped 2.35%. Nor indeed Hugh Grant, whose Monsanto (MON) ended down even after scoring a broker boost . Still, the CEO should keep plugging away. As his namesake can now tell you, persistence always pays off in the end .

Today in economics, analysts expect an increase in July pending home sales at 10:00 a.m. Eastern. In earnings action, Accor (OTCMKTS:ACRFF), Brown-Forman (NYSE:BF.B), Express (EXPR), Fresh Market (TFM), Guess (GES), Joy Global (JOY), Williams-Sonoma (WSM), and Zale Corp (ZLC) are all due to release results.

Akzo Nobel (OTCMKTS:AKZOY): The paints and coatings company is tumbling about 2% in today's European trading after being taken to Underweight from Neutral at HSBC Securities.

Douglas Dynamics Inc (PLOW): Credit Suisse cuts the auto parts outfit to Underperform from Neutral.

DSW Inc. (DSW): Designer Shoe Warehouse is slashed to Sell from Hold by Brean Capital, whose price objective is $72. Yesterday's 7.91% surge, taking shares to an historic high even as the overall market imploded, left the equity "expensive, especially when compared to players within its peer group," the analyst wrote in a note.

Taser International, Inc. (TASR): " Don't Tase Me Bro! ," indeed. The stun gun maker, on a stellar recent run, is moved to Neutral from Overweight at JPMorgan this morning due to valuation issues.

Tiffany & Co. ( TIF ) Citigroup (Neutral from Buy) and Crédit Agricole (Underperform from Outperform) each inflict après-earnings cuts on the bling king.

Stericycle Inc (SRCL) The waste management firm gets downgraded to Neutral from Outperform with Wedbush.

(See also: Stock Upgrades: Meet Stifel Financial in St. Louis and New Stock Coverage: Can Gym Giant Nautilus Keep You Fiscally Fit? )

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

This article appears in: Investing , Stocks

Referenced Stocks: AKRX , CSV , FB , HITK , TIF



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