So whose bright idea was it to have
National Relaxation Day
coincide with Wall Street's most stressful session in months? The
(^DJI) again dropped by triple-digits although, as that
newly media savvy 123-year-old
kid could tell you, perspective is everything and this too shall
pass. (Don't get him started on the
Panic of 1890
, which our Bolivian friend witnessed firsthand.)
) bore the brunt of the red ink, falling 5.08% after Warren
dumped it in droves
. Don't believe everything you read, then. Especially in its pages,
where Omaha's oracle recently gushed, "
It's almost unnatural how much I love
Today in economics, analysts expect an improvement in the
University of Michigan's preliminary August consumer sentiment
survey at 9:55 a.m. Eastern. On the earnings front,
Main Street Capital
(MAIN) are all due to report results.
(AA): Bank of America-Merrill Lynch cuts the key
(^DJI) component to Underperform from Neutral.
(AV): The life insurer is lowered to Neutral from Outperform by BNP
(CL): CL is cut to Hold from Buy at Argus.
(DANG): China's Internet company DANG gets downgraded to
Equal-Weight from Overweight at Morgan Stanley.
(DLAKY): Morgan Stanley moves the air carrier to Equal-Weight from
Overweight, sending it down more than 3% overseas this morning.
Dick's Sporting Goods
(DKS): Shares, still rated Overweight, are nonetheless pulled from
JPMorgan's Focus list of favored equities. Same-store sales are
seen as falling short of Street projections for a third straight
General Mills, Inc.
(GIS): The packaged foods powerhouse, whose brands include Cheerios
and Wheaties, gets downgraded to Underperform from Hold at
Jefferies. (Although as scary cereal stories go, that's still
finding a mouse jaw in your muesli
.) The broker notes that GIS is trying to protect its profit
margins by reducing its advertising expenditures.
(NBL): ISI Group gives the oil services outfit a Buy-from-Strong
(JWN): Sterne Agee reduces the upscale retailer to Neutral from
Buy. Shares are tumbling about 2% as I write, after the company
gave disappointing earnings guidance.
(NOR): NOR is now Underperform from Neutral at Bank of
(PT): Shares are sharply lower in today's European trading after
getting taken to Neutral from Buy at Goldman Sachs, which says
heightened capital requirements are a potential worry.
Red Robin Gourmet Burgers
(RRGB): Brokerage boutique B. Riley takes the fast food name to
Neutral from Buy.
Royal Bank of Scotland
(RBS): The British financial firm is reduced to Sell from Hold at
Semiconductors: Linear Technology
Maxim Integrated Products
(MXIM) are each lowered to Equal-Weight from Overweight at Morgan
(STM): HSBC Securities slashes the stock to Underweight from
Neutral at HSBC.
(RIG): The oil services stock gets downgraded to Underweight from
Overweight at Johnson Rice.
(VLTR): Shares are now Hold from Buy at both Deutsche Bank and
Stock Upgrades: Pandora Media Inc Is Music to Investors'
New Stock Coverage: Movado Group, Inc Has Time on Its