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Stock Downgrades: Coca-Cola Carries the Can

Posted
9/3/2013 9:21:00 AM
By: Minyanville
Referenced Stocks:AAPL;GOOG;HRB;TSN;ZLC

Shall I compare thee to a summer's day? Unless you are Larry , who increasingly looks like a lock for Fed head, probably not. Stocks went nowhere fast from Memorial Day to Labor Day, as Shakespeare's love sonnets found no takers. The Dow (INDEXDJX:.DJI) dropped 4.45% in an August when breaking up wasn't at all hard to do , even for the telephone industry. Clint Eastwood, scratching a 17-year itch , joined Michael Douglas and Catherine Zeta in separating, and investors agitating for a split at Google ( GOOG ) got their wish, although perhaps not in the way they intended.

At least love was in the air at diamond seller Zale Corp ( ZLC ), which surged 37.97% in an otherwise awful week. This as poultry powerhouse Tyson Foods ( TSN ) tumbled 8%; a penny for the thoughts of that pet chicken who just swallowed one of the precious stones .

Today in economics, analysts expect August's Institute for Supply Management manufacturing index to soften from the prior month's pace at 10:00 a.m. Eastern. On the corporate front, H&R Block ( HRB ) is due to report quarterly results.

Apple Inc. ( AAPL ): Norwegian investment bank ABG Sundal Collier slashes the stock, which surged 7.49% in August, to Sell from Hold.

Coca-Cola (KO): The key Dow (INDEXDJX:.DJI) component gets cut to Underperform from Outperform at Crédit Agricole.

Corning (GLW): Oppenheimer gives the maker of glass for flat-panel televisions a downgrade to Perform from Outperform. A burgeoning supply glut amid reduced demand for TVs is a concern.

Dean Foods (DF): The dairy giant gets downgraded to Neutral from Buy at Goldman Sachs.

Ensco (ESV): Barclays takes the oil services firm to Equal Weight from Overweight.

Green Mountain Coffee Roasters (GMCR): GMCR gets downgraded to Neutral from Buy at Suntrust Robinson Humphrey.

Intuitive Surgical (ISRG): First Analysis reduces the robotic instruments stock to Underweight from Equal Weight.

LeapFrog Enterprises (LF): LF is lowered to Market Perform from Outperform by BMO Capital Markets.

Palo Alto Networks (PANW): JMP Securities slashes the stock to Market Perform from Outperform.

Rockwell Collins (COL): Shares get cut to Market Perform from Outperform with Wells Fargo.

Vodafone (VOD): Shares, upgraded elsewhere this morning, are now Neutral from Outperform at Macquarie, which would take profits with the stock trading at a 13-year high.

Williams-Sonoma (WSM): The Pottery Barn owner gets a post-earnings downgrade to Hold from Buy at Canaccord Genuity, whose price objective is $59. Looming gross margin headwinds are an issue, the broker believes.

(See also: New Stock Coverage: Nasdaq Tries to Turn Over a New Leaf and Stock Upgrades: Say Yes to Nokia .)