Stock Downgrades: ThyssenKrupp No Longer Such a Steal

By Justin Sharon,

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It looks like the Dow (INDEXDJX:.DJI), already down for three straight weeks, took yesterday's " Fall Preview " featuring one of Wall Street's own a little too literally. Shares slumped again as the skies over Syria and a coming debt ceiling crisis here at home pointed to storm clouds overhead. As we apparently prepare to lay down on a bed of nails in Damascus, "I had a hammer" was one way to make money. Auction house Sothebys ( BID ) advanced 2.99% and Home Depot ( HD ) gained 2.08% to best all blue chips. Procter & Gamble ( PG ) was, by contrast, the index's poorest performer, down 1.84% in a setback for its commuting CEO . Penniless J.C. Penney ( JCP ), whose corporate culture similarly encourages corporate jets , imploded another 1.11%. Little wonder, then, that Embraer ( ERJ ), a maker of fancy business airplanes, scored a broker boost .

Today's economic data includes August consumer sentiment from The Conference Board at 10:00 a.m. Eastern, with consensus calling for a fall from the prior month's pace. In earnings action, Bank of Montreal (BMO), Brown Shoe (BWS), Donaldson Company (DCI), LDK Solar (LDK), Movado (MOV), Sanderson Farms (SAFM), Tiffany (TIF), TiVo Inc. (TIVO), and Workday (WDAY) are all due to report results.

Accretive Health, Inc. (AH): Shares are lowered to Perform from Outperform at Oppenheimer due to accounting concerns and turnover in the executive suite.

Apache Corporation (APA) The energy outfit, which has endured a difficult August amid Egyptian issues , gets downgraded to Neutral from buy at Guggenheim, Its price objective, previously $104, is taken to $92.

SYNNEX Corporation (SNX): Raymond James reduces the business services stock to Underperform from Market Perform.

ThyssenKrupp AG (ETR:TKA): The giant German steelmaker is now Neutral from Buy at Nomura, sending its stock tumbling in today's European trading.

(See also: Stock Upgrades: Hugh Grant Eyes Hollywood Ending at Monsanto Company and New Stock Coverage: Are You Ready for Some Football? DIRECTV Is Just the NFL Sunday Ticket .)

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: BID , ERJ , HD , JCP , PG

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