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Stock Downgrades: Expedia Isn't Sailing the Ocean Blue
Maybe the government should shut down more often.
(INDEXDJX:.DJI) gained 1.09% amid Washington gridlock to snap a
two-week slump. In a coded
message to Mr. Boehner
, No More Tears maker
Johnson & Johnson
jumped 2.5%, besting the
(INDEXDJX:.DJI) average on Friday following a
. Janet Yellen was nominated as the first Democrat to head the Fed
since 1987; if you don't want to be reminded of what happened later
look away now
. The current cover of
Munis on the Mend"
) is enough to turn Meredith to tears, as her eponymous investment
reached its Whit's end
. (Hopefully she's still long
), which surged 6.99%.) And as a Pope -- Alexander, actually --
once said, "
To err is human; to forgive, divine
." This as the Vatican recalled a Pope Francis medal after
misspelling the name "Jesus."
Indeed it was a bad time for reading, writing, and arithmetic all
around, what with
) cratering 36%.
No economic data due today, and both banks and the bond market are closed for Columbus Day, but the first full week of earnings season begins with Brown & Brown ( BRO ), Dassault Systems (OTCMKTS:DASTY), J.B. Hunt Transport ( JBHT ), Packaging Corp. of America ( PKG ), and Wintrust Financial (WTFC) all expected to release results.
Avnet (AVT): Deutsche Bank downgrades the electronics outfit to Hold from Buy.
Coach (COH): COH is cut to Hold from Buy at Canaccord Genuity, which reduces its price objective to $62 from $65. Concerns include soft traffic trends and increased competition from Michael Kors (KORS).
Consolidated Water (CWCO): Shares are cut to Hold from Buy at Brean Capital due to valuation.
Covanta (CVA): Raymond James reduces its rating to Outperform from Strong Buy.
Diageo (DEO): The Guinness owner gets slashed to Sell from Hold at Investec.
Delhaize Group (DEG): Shares are lowered to Underperform from Hold at Jefferies.
Ericsson (ERIC): The stock is lower in today's European trading after being taken to Underweight from Equal Weight by Barclays.
Expedia (EXPE): Deutsche Bank takes the online travel outfit to Hold from Buy amid execution issues and executive turnover.
Hi-Crush Partners (HCLP): Shares get downgraded to Sector Perform from Outperform at RBC Capital.
Infineon (OTCMKTS:IFNNY): Bank of America-Merrill Lynch moves the stock to Neutral from Buy.
K12 Inc. ( LRN ): LRN, down sharply last week, is lowered to Underperform from Neutral at Bank of America-Merrill Lynch.
Merck (MRK): The Dow (INDEXDJX:.DJI) member is downgraded to Perform from Outperform by Sanford Bernstein.
Mylan Labs (MYL): Morgan Stanley moves the stock to Equal-Weight from Overweight.
Penn Virginia (PVR): Shares are downgraded to Hold from Buy at BB&T Capital.
Royal Bank of Scotland (RBS): The stock is now Underperform from Neutral at Bank of America-Merrill.
SABMiller (OTCMKTS:SBMRY): Citigroup slashes the brewing behemoth to Neutral from Buy.
Strategic Hotels & Resorts (BEE): Shares get downgraded to Buy from Strong Buy at ISI Group.
Waters Corporation (WAT): The stock is now Neutral from Buy at Mizuho due to uncertainty surrounding pharmaceutical end markets. Its price objective is $110.
(See also: Stock Upgrades: Liberty Interactive Is Open for Business and New Stock Coverage: On Columbus Day, It Pays to Discover .)