Stock Downgrades: Hope and Change? Changyou.com Ain't Seeing It
If yesterday's trading action was an antidote to insomnia -
(INDEXSP:.INX) shares edged up all of 2.34 points - compared to the
panic that engulfed Wall Street
exactly 84 years earlier on the original "Black
boring was brilliant. An infinitesimal 0.13% increase was still
enough to take the benchmark index to another lifetime high. They
say "it's an ill wind that blows nobody any good" but, with
Britain buffeted by the St. Jude Storm
St. Jude Medical
) gained 0.63% to a historic peak. (Superstitious investors of a
certain age will, however, take ominous note that this was
England's most inclement weather since an October
spookily presaged another Black Monday
by a matter of hours.) In Spain, where they know all about
taking Quixotic tilts at windmills
, wind power pioneer
(OTCMKTS:IBDRY) rose 1.05% on a
, and received an additional analyst upgrade this morning.
Elsewhere, "neither snow, nor rain, nor heat, nor gloom of night,
nor the winds of change" could keep a 73-year-old
United Parcel Service
) driver from
going accident-free for over half a century
. Send that man some stock options, as his employer just increased
2.26% to a fresh best. The stork, if not the check, was in the mail
toddlers are an increasingly important revenue
. Based on its iffy holiday sales outlook, however, the erstwhile
tech titan may now have a great future behind it.
This morning the Federal Open Market Committee starts its two-day policy meeting in Washington, DC, with an interest rate announcement expected tomorrow at 2:00 p.m. Eastern. In earnings action, Archer Daniels Midland ( ADM ), BP plc ( BP ), Buffalo Wild Wings (BWLD), Deutsche Bank (DB), Electronic Arts (EA), Gilead Sciences (GILD), LinkedIn (LNKD), Nokia (NOK), Pfizer (PFE), 3D Systems (DDD), UBS AG (UBS), US Steel (X), and Yelp Inc (YELP) are all due to release results.
Banco Bilbao (BBVA): Credit Suisse cuts the Spanish bank to Neutral from Outperform.
Changyou.com (CYOU): The Beijing-based online gaming outfit, fresh from Monday's 20.19% tumble, is moved to Hold from Buy at Brean Capital this morning.
Corporate Office Properties Trust (OFC): Stifel slashes the stock to Hold from Buy.
Goldcorp (GG): The commodity company is now Neutral from Overweight at HSBC Securities.
Key Energy (KEY): KEY is slashed to Sell from Hold with a $6 price objective at Wunderlich, which worries about seasonality issues and an oversupply in the US.
Michael Kors (KORS): The fashion firm, set to be added to the S&P 500 Index (INDEXSP:.INX) this week, is taken to Market Perform from Outperform with Wells Fargo. Valuation issues - shares have surged 40.21% in the past year - are cited.
Sanmina (SANM): The electronics outfit is now Hold from Buy at Needham due to an uncertain earnings outlook.
Sunstone Hotel Investors (SHO): ISI Group gives the equity a Neutral-from-Buy downgrade.
UNITIL Corporation (UTL): Shares are reduced to Sector Perform from Outperform at RBC Capital.
Volcano Corporation (VOLC): Canaccord Genuity gives the medical appliance and equipment outfit a Hold-from-Buy downgrade.
Wausau Paper (WPP): Troubled by "deflating earnings" at the packaging powerhouse, Deutsche Bank downgrades it to Hold from Buy.
(See also: New Stock Coverage: Halloween Almost Here, Potbelly Serves Some Wicked 'Wichcraft and Stock Upgrades: Can I, Asks Apple? Yes Icahn! )