Stock Downgrades: Red Hat Inc Goes Cap in Hand

By
A A A

It felt fitting that an upgraded Groupon ( GRPN ) jumped 10.23% last week, for the market overall reduced many investors to coupon-clipping penury. Shares slumped as a global trail of tears extended from Tokyo to Istanbul, whose customs officials have happily maintained an enduring faith in unicorns amid a crisis in the capital's central square.

Media stocks outperformed, among them Iowa's Meredith Corp. ( MDP ), which advanced an impressive 8.66%. That'll teach Time Inc's Manhattan media snobs not to drag their heels at a move to the Hawkeye State . (To be fair, Time Warner Cable ( TWC ) was an even bigger hit in the Big Apple, ending up 9.48% on the week.)

'Angry Orchard' Apple cider sent Boston Beer ( SAM ) surging 5.79%. Alas Apple Inc. ( AAPL ) didn't fare anything like as well. It imploded another 3.31% and - really rubbing it in - a film about its founder was delayed to the box office waste land of August .

American Capital Agency Corp. (AGNC): Barclays takes the stock to Equal Weight from Overweight.

ARM Holdings plc (ADR) (ARMH): The key Apple supplier is now Reduce from Hold at Numis.

Associated British Foods plc (ASBFY): Shares are nose-diving more than 3% in today's London trading after Nomura lowered its rating to Reduce from Neutral.

Chevron Corporation (CVX): The oil giant, a key Dow (^DJI) component, gets downgraded to Hold from Buy at Jefferies. Issues regarding its FCF (Free Cash Flow) growth are cited.

Health Management Associates Inc (HMA): The stock is now Neutral from Buy with an amended price objective of $17 at Mizuho, which says a sale of the company is currently a remote prospect. A lack of visibility regarding Medicaid expansion is an additional cause for concern.

Infinera Corp. (INFN): Jefferies lowers its rating to Hold from Buy.

MICROS Systems, Inc. (MCRS): Compass Point cuts the company to Neutral from Buy with a $45 target price amid competition and macroeconomic issues.

Red Hat Inc (RHT): Shares are now Neutral from Positive at Susquehanna.

Time Warner Cable Inc ( TWC ): A steep valuation after last week's stock surge sees Raymond James reduce its rating to Perform from Outperform.

(See also: New Stock Coverage: Tesla Motors Inc Is in The Driver's Seat and Stock Upgrades: Find Room in Your Portfolio for Extra Space Storage, Inc. )



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 , GRPN , MDP , SAM , TWC

Minyanville

Minyanville

More from Minyanville:

Related Videos

The Pumpkin Carvers
The Pumpkin Carvers                 
The Diamond Cutter
The Diamond Cutter                  

Stocks

Referenced

Most Active by Volume

56,834,794
    $15.52 unch
47,736,761
  • $94.72 ▲ 0.83%
41,992,984
  • $2.47 ▲ 11.76%
40,893,734
  • $34.7901 ▲ 2.14%
39,324,803
  • $69.27 ▼ 0.19%
39,276,613
  • $7.28 ▲ 2.68%
39,084,483
  • $44.83 ▼ 0.01%
33,527,212
  • $26.02 ▲ 0.15%
As of 7/22/2014, 04:03 PM