Stock Downgrades: Now's Not the Time to Be Overweight Vivus
Sesame Street celebrated National Grouch Day
, Wall Street was equally grumpy. The
(INDEXDJX:.DJI) snapped a four-session winning streak amid more
governmental gridlock. The MIT brainiacs at data storage device
) saw that stock implode an
S&P 500 Index
(INDEXSP:.INX)-worst 18.39%, but Angela Ahrendts, attendee of the
59th best party school in America
, had a Ball as
) poached her from Britain's
ATM maker Diebold ( DBD ) dropped 2.29% on a downgrade . The industry has clearly yet to recover from a run on its machines earlier this year in Cyprus, money laundering paradise. No, if you want to keep clean, and stay above the law, coin-operated laundromat owner Mac-Gray ( TUC ) is instead the way to go. Yesterday it jumped 41.59% to top all NYSE issues.
Today in economics, the Fed will release its Beige Book, detailing economic conditions in a dozen districts, at 2:00 p.m. Eastern. Hump Day of the first full week for third quarter earnings announcements is upon us, with American Express ( AXP ), Bank of America (BAC), eBay Inc (EBAY), International Business Machines (IBM), and PepsiCo (PEP) among a multitude of big names due to report results.
Achillion Pharmaceuticals (ACHN): Credit Suisse takes the shares to Neutral from Outperform.
Arch Coal (ACI): Morgan Stanley cuts the commodity stock to Underweight from Equal-Weight.
Canadian National Railway (CNI): Shares are reduced to Market Perform from Outperform at Raymond James.
Chiquita Brands (CQB): The banana behemoth is now Neutral from Buy at Janney.
Cisco Systems (CSCO): MKM Partners cuts the key Dow (INDEXDJX:.DJI) component to Neutral from Buy.
Elli Mae (ELLI): The equity is moved to Market Perform from Outperform at JMP Securities.
FedEx (FDX): Yesterday's high flier is today taken to Neutral from Buy at Buckingham Research.
First Republic Bank (FRC): Shares are reduced to Equal Weight from Overweight at Evercore.
Green Dot (GDOT): GDOT gets slashed to Sell from Neutral at Janney.
Hologic (HOLX): Shares are now Neutral from Buy at Citigroup.
Netflix (NFLX): The top S&P 500 Index (INDEXSP:.INX) stock of 2013 is today taken to Hold from Buy at Hudson Square due to understandable valuation issues.
Teradata ( TDC ): The stock is lowered to Long-Term Buy from Buy at Hilliard Lyons.
TNT Express (OTCMKTS:TNTEY): HSBC Securities downgrades the Dutch package delivery powerhouse to Underweight from Neutral.
Vivus (VVUS): Piper Jaffray downgrades the diet drug darling to Neutral from, well, Overweight.
(See also: Stock Upgrades: Alaska Air Comes in From the Cold and New Stock Coverage: Mice at Whole Foods? Fat Cats Don't Care .)