Stock Downgrades: Rude Awakening for DreamWorks Animation

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A week that started with Summers , ended in fall , and witnessed the return of Winters will ultimately be best known for the surprise Ben Bernanke opted to spring on the stock market. S&P 500 (INDEXSP:.INX) shares hit a historic high after the Federal Reserve unexpectedly opted to continue its policy of quantitative easing. As Nasdaq (INDEXNASDAQ:.IXIC) reached a fresh 13-year peak, constituent component Priceline ( PCLN ) boldly went where no such stock had gone before . With shares approaching Pluto, pity its Captain Kirk is scared of flying . Investors jumped off Pier 1 ( PIR ), which nosedived 9.16%, and sent BlackBerry ( BBRY ), whose latest launch took place on Pier 36 , under water to the tune of 15%.

There isn't any top-tier economic data due today, but Red Hat ( RHT ) is expected to announce its quarterly earnings.

BlackBerry Ltd ( BBRY ): The firm from Waterloo, Ontario, is lowered to Hold from Buy at Jefferies and to Underperform from Sector Perform at RBC Capital, whose target is taken to $5 from $15. The stock also scored an analyst upgrade today but these downgrades currently appear to be carrying more weight since shares, which fell 17.06% on Friday, are showing further weakness this morning.

Catamaran Corp ( CTRX ): Morgan Stanley moves the stock to Equal-Weight from Overweight.

Darden Restaurants (DRI): The Olive Garden owner gets slashed to Equal Weight from Overweight at Stephens.

DreamWorks Animation (DWA): B. Riley & Co. reduces its rating to Neutral from Buy due to valuation concerns.

FedEx (FDX): Stifel Nicolaus slashes the stock to Hold from Buy.

Michael Kors (KORS): Shares are cut to Hold from Buy at Jefferies. The price objective, previously $85, is now $80.

Oceaneering International (OIS): Global Hunter Securities gives the energy outfit a Neutral-from-Buy downgrade. Its target price goes to $81 from $92.

Rockwell Collins (COL): Credit Suisse cuts the aerospace name to Neutral from Outperform.

Sealed Air (SEE): The Bubble Wrap maker, fresh from Friday's 4.26% fall, gets slashed to Equal Weight from Overweight by Barclays.

Southwest Airlines (LUV): Bank of America-Merrill Lynch lowers its investment opinion to Neutral from Underperform.

Ulta Salon (ULTA): Jefferies cuts the cosmetics company to Hold from Buy.

(See also: New Stock Coverage: Stratasys Stock Going Through the Stratosphere and Stock Upgrades: Sherwin-Williams Paints Town Red, Tape Green .)

Disclosure: Minyanville Studios, a division of Minyanville Media, has a business relationship with BlackBerry.



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: BBRY , CTRX , PCLN , PIR , RHT

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