Stock Downgrades: Even Kate Upton Can't Save Whirlpool

By
A A A

Brooklyn, why can't Mr. Market quit you, baby? Last week it was Janet Yellen, native of New York's most populous borough, who hogged headlines. Yesterday, stocks reeled from a last-hour bombshell about a business bigwig born in the hipster heaven. But enough about Maria Bartiromo . Carl Icahn's "very cautious" comments set off a late-session swoon, although not before the Dow (INDEXDJX:.DJI) had earlier topped 16,000 for the first time in its history. Seventy-seven year old Uncle Carl thus does battle with callow youth sweet sixteen, with the S&P 500 Index (INDEXSP:.INX) trading at 16 times earnings and having just surpassed $16 trillion in market cap. CNBC's closing belle called it quits, but real women have bell curves . Well, Yahoo's ( YHOO ) Melissa Mayer does, though her stock dropped 1.40% on a tough day for tech. Do you Yahoo? Not if you're Microsoft ( MSFT ), although killing its own bell curve brought no joy. It quickly ran out of cash, leading blue chip laggards with a 1.69% loss after getting downgraded by Kash Rangan of Bank of America -Merrill Lynch ( BAC ).

There isn't any top-tier economic data due this morning. US markets, and specific stocks, may move on quarterly earnings announcements, however. Today's results are expected to include Best Buy ( BBY ), Campbell Soup ( CPB ), Dick's Sporting Goods (DKS), Home Depot (HD), La-Z-Boy (LZB), Medtronic (MDT), TJX Cos (TJX), Trina Solar (TSL), and Valspar (VAL).

Altera (ALTR): Goldman Sachs removes the chip name from its Conviction Buy list.

HCP Inc (HCP): Shares are slashed to Hold from Buy at Stifel due to a difficult industry backdrop.

PhotoMedex (PHMD): Singular Research reduces its rating to Buy from Long-Term Buy. Its price objective is $19.50.

TCP Capital (TCPC): TCPC gets taken to Hold from Buy with Wunderlich, whose new target price is $18.

Walgreen (WAG): Walgreen is moved to Market Perform from Outperform at Raymond James. Walgreen stock has recently traded atop historic highs.

Whirlpool (WHR): Sorry, fellas. Whirlpool, founded by the great-grandfather of supermodel Kate Upton , is downgraded to Market Perform from Outperform at Raymond James. Iowa-based Whirlpool also owns Maytag.

Zions Bancorp (ZION): Raymond James reduces its recommendation to Outperform from Strong Buy.

(See also: New Stock Coverage: Pucker Up to Estee Lauder and Stock Upgrades: Ain't No Mountain High Enough for Vail Resorts )




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: BAC , BBY , CPB , MSFT , YHOO

Minyanville

Minyanville

More from Minyanville:

Related Videos

Stocks

Referenced

Most Active by Volume

100,376,898
  • $17.62 ▲ 0.51%
83,231,837
  • $25.62 ▲ 1.91%
75,739,329
  • $111.78 ▼ 0.77%
65,297,937
  • $36.37 ▼ 1.76%
59,053,093
  • $47.66 ▲ 0.29%
53,482,350
  • $2.59 ▼ 0.38%
51,504,284
  • $7.34 ▲ 2.37%
51,434,656
  • $8.14 ▲ 6.96%
As of 12/19/2014, 04:15 PM


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com