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Stock Downgrades: TripAdvisor Now Going Nowhere Fast
The front cover of
only place Wall Street was getting high
last week. Elsewhere, stocks closed out May at essentially their
lows for the day, dropping for a second straight week and raising
fears of a forthcoming June swoon.
Some stocks did buck a bad tape, with acquired cemetery outfit Stewart Enterprises ( STEI ) rewarding investors with a 44.4% surge. (Surely better value for money than that used morgue New York state is currently selling on eBay Inc. ( EBAY )). France's Club MÃ©diterranÃ©e ( CLMDF ) jumped 28% after Europe, faced with frighteningly long unemployment lines finally put its " hands up! " in abject surrender.
It was a bad week for Warren Buffett's fabled secretary, as a new study showed administrative assistants are prone to piling on the most pounds of all occupations. The Oracle of Omaha himself fared better, however, picking up a utility on the cheap with the sector in free-fall.
Today in economics, May's Institute for Supply Management manufacturing index and construction spending for April are each out at 10:00 a.m. Eastern. On the corporate front, Cracker Barrel Old Country Store ( CBRL ) reports quarterly earnings.
Activision Blizzard (ATVI) Shares are removed from the U.S. Focus List at Credit Suisse.
Actuant (ATU): The diversified machinery name is now Neutral from Buy at UBS.
Cepheid (CPHD): Citing MRSA (Methicillin-Resistant Staphylococcus Aureus) screening concerns, Craig-Hallum cuts the company to Hold from Buy.
F5 Networks (FFIV): The stock, a poor performer in 2013, is slipping further before the bell on an Equal Weight-from-Overweight cut at Morgan Stanley.
Torchmark (TMK): TMK gets taken to Neutral from Buy at Janney.
TripAdvisor ( TRIP ): The online travel outfit gets downgraded to Hold from Buy at Stifel. Shares, up 50.40% in the past 12 months having
surpassed the broker's $58 target, are now due a breather.
(See also: New Stock Coverage: Now's Not the Time to Own GOL and Stock Upgrades: Plum Creek Timber Is a Money Tree )