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Stock Downgrades: TripAdvisor Now Going Nowhere Fast

By: Minyanville
Posted: 6/3/2013 9:28:00 AM

The front cover of Barron's was the 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 Méditerranée ( 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 )