Stock Downgrades: There Will Be Blood at Anadarko Petroleum

By Justin Sharon,

Shutterstock photo

The Waldorf salad, invented in 1896 , had a decent day. If only the Dow Average (INDEXDJX:.DJI), which arrived on the scene in the same year, could say the same. Hilton Worldwide ( HLT ), owner of the iconic New York hotel, enjoyed a 7.50% surge on its trading debut but the stock market's salad days have recently received a serious dressing down. Naked short sales? Not quite, but L Brands ( LB ), owner of Victoria's Secret lingerie, dropped despite receiving a research recommendation . At a fashion show this week, its angels (presumably the ones that so distracted the sign language interpreter at Mr. Mandela's memorial service) paid homage to Paris . Paris Hilton's already bulging bank account hardly needs any more help, unless she invests in Lululemon ( LULU ), whose pants have allowed all and sundry to " see France ." It imploded 11.65% yesterday and today gets cut at Credit Suisse.

There are no quarterly earnings announcements of note, but the Fed head inauspiciously turns 60 on this Friday the 13th . Ahead of next week's critical FOMC policy meeting, the market desperately needs his birthday party punch bowl to remain overflowing for a wee while yet.

Anadarko Petroleum ( APC ): (Hat tip to a fine oil film for today's title.) Shares, imploding some 11.86% as I write this article, get downgraded to Neutral from Buy at Citigroup. JPMorgan (Underweight from Neutral) and Global Hunter Securities (Neutral from Buy with its price target taken to $106 from $133) add to the agony. Morgan analysts wrote in a note that "lingering uncertainty will cause [Anadarko Petroleum] stock to underperform," following a negative legal ruling involving its Kerr-McGee unit.

Anglo American (OTCMKTS:AAUKY): Deutsche Bank cuts the company to Hold from Buy.

BP Plc ( BP ): On a decidedly difficult day for the oil patch, the British petroleum firm notorious for its Gulf of Mexico spill in 2010 gets slashed to Neutral from Buy at UBS.

Iberdrola (OTCMKTS:IBDRY): Concerned about under-appreciated political headwinds, Goldman Sachs slashes the Spanish energy giant to Sell from Neutral.

Lululemon Athletica ( LULU ): More bad news for Lululemon Athletica, whose slumping stock is now down 18.66%, even in the bull market of the past year. Shares are falling further as we speak after getting taken to Neutral from Outperform at Credit Suisse.

Restoration Hardware (RH): Restoration Hardware stock, a relatively recent initial public offering, sees its rating reduced to Neutral from Overweight at Piper Jaffray.

United Technologies (UTX): The maker of Otis elevators, a Dow (INDEXDJX:.DJI) member, could itself use a lift this morning. Shares are exhibiting weakness ahead of the opening bell after being moved to Market Perform from Outperform by William Blair.

(See also: New Stock Coverage: FireEye Is On a Tear and Stock Upgrades: Amazon Isn't Falling From the Sky Any Time Soon )

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: APC , BP , HLT , LB , LULU

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