Stock Downgrades: Mannkind Suffers the Cruelest Cut


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The "rule of three" worked a treat in equities, with all three major indices up for a third straight session to start September. (Don't get too complacent, though, for double trouble looms with an ominous increase in bold yields to 3% and an imminent third bailout in Athens.) On the downside, AT&T Inc. ( T ) dropped a Dow (INDEXDJX:.DJI)-worst 1.19%, although yesterday a Today host tried to i nadvertently enliven a terrible telecom tape . Moving swiftly from Hoda to Yoda, Star Wars creator and megabucks Starbucks ( SBUX ) investor George Lucas saw his stock score a broker boost , yet still drop. Clearly, there was a twist in the tail for the coffee company. So to speak .

Today's quarterly earnings announcements are expected to include Layne Christensen ( LAYN ), Mattress Firm Holding ( MFRM ), Smithfield Foods ( SFD ), and UTi Worldwide (UTIW).

Andersons, Inc. (ANDE): The agribusiness outfit gets downgraded to Hold from Buy at BB&T Capital.

InterXion (INXN): Oppenheimer cuts the Internet information provider to Perform from Outperform amid market oversupply and migration to more internal data traffic.

Mannkind Corporation (MNKD): The biotech is lowered to Underperform from Neutral by Bank of America-Merrill Lynch, sending it falling more than 4% before the opening bell.

M&T Bank (MTB): Credit Suisse reduces the regional bank to Neutral from Outperform.

(See also: New Stock Coverage: Don't Be a Jerk -- Buy BMW and Stock Upgrades: Days of Wine and Roses at Constellation Brands .)

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

This article appears in: Investing Stocks
Referenced Stocks: LAYN , MFRM , SBUX , SFD , T

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