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Stock Downgrades: Disney Cools Off After Red-Hot 'Frozen'

By: Minyanville
Posted: 12/3/2013 9:23:00 AM
Referenced Stocks: BAC;F;JPM;LULU;MNST

After Black Friday, Red Monday. (And on the anniversary of Castro coming out as a Commie, of course .) US markets continued to ease off from recent records, with the Dow (INDEXDJX:.DJI) and S&P 500 Index (INDEXSP:.INX) each ending down in desultory trading action. This after Cyber Monday (total sales: $2 billion ; total lost productivity $2.5 billion ) failed to provide the expected bang for the buck.) Among stocks on the move, Twitter (NYSE: TWTR ) tumbled 1.90% amid several lukewarm analyst initiations that even included a "Sell" at Bank of America-Merrill Lynch ( BAC ). ( JPMorgan ( JPM ) accorded the social networking name a more upbeat "Neutral," which really was big of it considering its recent shellacking on the site .) Morgan, which initially brushed off the London Whale as a "tempest in a teapot," upgraded Peace Tea maker Monster Beverage ( MNST ), enabling that stock to end up 0.56% amid much red ink elsewhere. Also advancing on a ratings increase was pride of Vancouver Lululemon Athletica ( LULU ). It gained 2.41%; all this and Fifty Shades of Grey, too ? Some cities have all the luck. And fast food workers are all set to strike , demanding an increase on the hourly federal minimum wage of $7.25. For perspective, 84 years ago today - and only 35 days after the financial calamity of the century - Ford ( F ) raised the pay of its employees to $7.00 per day.

There isn't any top-tier economic data to move US markets today, although a deluge awaits later in the week. Regarding specific stocks, Bank of Montreal (BMO), Bob Evans Farms (BOBE), and United Natural Foods (UNFI) are all due to release results.

Albany Molecular (AMRI): Shares are now Neutral from Buy at Sterne Agee. Its amended price objective is $12.

Canon (CAJ): JPMorgan cuts the Japanese electronics giant to Underweight from Overweight.

CubeSmart (CUBE): The stock gets taken to Neutral from Buy at SunTrust.

HSBC Holdings (HSBC): The financial stock, whose symbol recently changed from HBC, is now Neutral from Buy at Nomura, sending it lower in today's London trading.

IMAX Corporation (IMAX): Goldman Sachs inflicts a Neutral-from-Buy downgrade on IMAX Corporation. Stock in cinema powerhouse IMAX Corporation has advanced 38.38% in the past 12 months.

Myriad Genetics (MYGN): Myriad gets moved to Perform from Outperform at JMP Securities.

Pfizer (PFE): Pfizer is pulled from Goldman Sachs' list of Conviction Buys. Drugmaker Pfizer is a key Dow component.

Sonova Holding (OTCMKTS:SONVY): Shares in the Swiss hearing-aid maker are moving lower in Europe this morning, after being slashed to Equal Weight from Overweight at Morgan Stanley. Heightened competition is a concern.

ThyssenKrupp (OTCMKTS:TYEKF): More bad news for the German steel giant, which slid 9.96% yesterday. It is now Neutral from Overweight at HSBC Securities.

Walt Disney (DIS): Walt Disney's Frozen just debuted to boffo box office business but its stock may cool off today. This after getting downgraded to Neutral from Buy at B. Riley & Co. Walt Disney is a longstanding member of the Dow.

Xcel Energy (XEL): Shares are now Neutral from Buy at Goldman Sachs.

(See also: New Stock Coverage: On 3 December, Buy 3D Systems and Stock Upgrades: Apple Is No Longer a Lemon )