Stock Downgrades: Annie's Inc Is No Stock for (Widows and) Orphans

Kate Upton can't compete with Kate Middleton. The two-time Sports Illustrated cover girl has been awesome for equities but it was yesterday's royal birth that pushed the S&P 500 (^GSPC) to its 23rd historic high of 2013. Turning from wee bairns to old fogies, graybeards quite literally took center stage as 77-year-old Carl Icahn, sporting the latest line in designer stubble , saw the Federal-Mogul ( FDML ) he controls surge some 30.62% in its best showing since October 2008. Yahoo ( YHOO ), which topped the S&P 500 on Wednesday, fell 4.29% on Monday to post the index's poorest performance, thanks to Dan Loeb - who knows better than most that success is cyclical . And UBS AG ( UBS ) jumped 3.22% to a two-year high after settling a $745 million suit. Funny, one would think that the firm famous for its 44-page dress codes wouldn't mind being so outfitted.

A quite quiet week in economics continues, with no top-tier data due this morning. By contrast, this is the single busiest spell for Q2 earnings announcements, with Altria ( MO ), Apple ( AAPL ), AT&T, Inc. (T), Broadcom (BRCM), Discover Financial Services (DFS), DuPont (DD), Electronic Arts (EA), Travelers (TRV), United Parcel Service (UPS), and United Technologies (UTX) all among companies reporting results today.

Annie's Inc (BNNY): Shares are now Neutral from Overweight at JPMorgan.

AXIS Capital (AXS): Shares are lowered to Neutral from Buy at Bank of America-Merrill Lynch.

Bank of Marin (BMRC): DA Davidson downgrades the financial firm to Neutral from Buy.

DeVry (DV): Morgan Stanley moves the stock to Equal-Weight from Overweight.

easyJet (ESYJY): The budget airline is taken to Neutral from Overweight at HSBC Securities.

Intercontinental Hotels Group (IHG): The accommodation outfit is now Neutral from Buy at BNP Paribas.

ISIS Pharmaceuticals (ISIS): Piper Jaffray reduces its rating to Underweight from Neutral.

Netflix (NFLX): Shares, off sharply ahead of the opening bell after announcing earnings, are now Hold from Buy with a $260 price objective at Cantor Fitzgerald. The stock, trading at 40.3 times EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) based on fiscal year 2013 estimates after a record run, is now viewed as fairly valued.

PNC Financial (PNC): Sterne Agee slashes the stock to Neutral from Buy amid expectations for moderating earnings growth into 2014 and 2015.

Regional Banks : Keefe Bruyette cuts Metrocorp Bancshares (MCBI) and Northwest Bancshares (NWBI), both now Perform from Outperform.

Sally Beauty (SBH): Sterne Agee slashes the stock to Neutral from Buy.

TravelCenters of America (TA): TA gets taken to Perform from Outperform at Raymond James.

Yahoo ( YHOO ): Troubled by Dan Loeb's Third Point selling a substantial stake, Needham cuts the company to Hold from Buy. It sees fair value for the stock in the $29 per share range.

(See also: New Stock Coverage: Is Noodles & Co Already Pasta Its Peak? and Stock Upgrades: Fishing for Chips? Try Texas Instruments Incorporated .)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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