Las Vegas Blog

Stock Downgrades: Wynn Resorts, Tesoro, and Cepheid

October 4, 2013
by lasvegasnvblog

When even Kate Upton can’t stimulate Mr. Market, we’ve received a problem. The two-time Sports Illustrated cover girl has historically been impressive for equities. But, freshly back on its front page , even she was powerless to prevent the Dow (INDEXDJX:.DJI) from dropping for a ninth time in 11 sessions. And adding insult to injury for the buxom beauty, Whirlpool ( WHR ) – founded by her amazing grandfather – was again taken to the cleaners & ended off another 1.55%.

In standout stocks, Bill Ackman’s favorite short, Herbalife ( HLF ), slumped 6.62%, even as he misspelled the firm who employs an analyst he dissed . (Since yours truly just called the owner of a near-perfect 1530 SAT score a ” clever clogs, ” as you can imagine, I feel sic.) Speaking of analysts, Citigroup’s ( C ) Apple ( AAPL ) analyzer found himself in hot water — this as the bank boosted its arch-rivalBlackBerry ( BBRY ). Its shares still tumbled 2.89%, perhaps 'cause some investors remember in that the bank wasn’t always so well disposed to the Canadian company’s gadgets . On Wall Street, it is frequently “do as I say, not as I do.”

September’s employment report, originally due for release at 8:30 a.m. Eastern, has-been postponed due to the government shutdown. In earnings action, Taiwanese smartphone provider HTC Corporation (OTCMKTS:HTCKF) formally announced its 1st ever quarterly loss earlier today. Here at home, sandwich shop Potbelly (PBPB) is expected to start trading this morning after pricing its initial public offering at $14 per share.

Acxiom (ACXM): The information technology outfit gets downgraded to Underperform from Market Perform by BMO Capital Markets.

Align Technology (ALGN): Amid an excessive valuation, Robert W. Baird takes the teeth-straightening outfit whose clients contain Justin Bieber to Neutral from Outperform.

Cepheid (CPHD): Shares are slashed to Sell from Cautious with a $34 price objective at ISI Group, whose concerns contain heightened competition.

Chico’s FAS (CHS): The clothing company is cut to Market Perform from Outperform with Wells Fargo.

CSX Corporation (CSX): The stock, falling before the bell, is now Neutral from Buy at Citigroup.

H.B. Fuller (FUL): Deutsche Bank downgrades FUL to Hold from Buy.

Intrepid Potash (IPI): The fertilizer firm is moved to Underweight from Equal-Weight at Morgan Stanley

Sirona Dental Systems (SIRO): Bank of America-Merrill Lynch lowers the equity by an unusual 180 degrees, to Underperform from Buy.

Tesoro (TSO): Oppenheimer takes the refiner to Outperform to Perform due to a deteriorating earnings outlook.

US Airways Group Inc (LCC): Shares, begun with a bullish Buy rating elsewhere this morning, are moreover cut to Fair Value from Buy at CRT Capital. Merger-related Justice Department issues loom large, the brokerage believes.

Wynn Resorts, Limited (WYNN): The Las Vegas casino company is now Neutral from Outperform at Credit Suisse, which says the stock is now appropriately valuated.

(See also: Stock Upgrades: Exxon Mobil, OpenTable, & Moneygram International & New Stock Coverage: US Airways, JDS Uniphase, & 21st Century Fox .)

Disclosure: Minyanville Studios, a division of Minyanville Media, has a business relationship with BlackBerry.

The views & opinions expressed herein are the views & opinions of the author & do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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