Stock Downgrades: Yum Brands Giving Investors Indigestion ...

Why concern yourself with the fiscal cliff when it?s far easier to simply fall off?McGraw-Hill?(MHP)? Shares suffered their steepest slide since our cliff crisis of late last year after the ratings agency skidded 13.78% in its single worst day since October 1987. The firm is handsomely paid to act as a financial gatekeeper but, as the saying goes, ?who will guard the guards?? (Actually, the original Latin is, "Quis custodiet ipsos custodes?" but with Italian markets having imploded 4.5% on Monday, it?s best to spare our continental cousins the cost of any $10 words.)?
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Gannett?(GCI), whose Captivate Network pipes information into office lobby elevators, lost 6.70%, and now it can?t even enjoy the?mood muzak. Apple Inc. (AAPL), where employees?lived in fear of being fired in lifts, tumbled another 2.49% but at least?United Technologies (UTX), owner of Otis, hit a multi-year high. And Mercedes-Benz owner Daimler (PINK:DDAIF) dropped -4.14%. Embarrassing, especially for one unfortunate fan who just?found they paved paradise and put up a parking lot.
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Today in economics, a slight slippage is seen in the Institute for Supply Management?s January non-manufacturing index at 10:00 a.m. Eastern. In earnings action,?Archer Daniels Midland?(ADM),?BP Plc?(BP),?Est?e Lauder?(EL), Kellogg?(K),?NYSE Euronext,?Sirius XM Radio?(SIRI),?Take-Two Interactive Software?(TTWO), Toyota Motor (TM),?UBS AG?(UBS),?Walt Disney?(DIS), and?Zynga?(ZNGA) are all due to report results.
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Alon USA Energy?(ALJ): ALJ gets downgraded to Neutral from Buy at Goldman Sachs.
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American Science & Engineering?(ASEI): Troubled by soft bookings due to government delays, Benchmark Company reduces its rating to Hold from Buy. Its target price is $65.
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Baidu.com?(BIDU): Shares in the Chinese Internet outfit are now Hold from Buy at Stifel Nicolaus, which highlights headwinds including increased investment spending and attendant pressure on margins.
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Brookfield Properties?(BPO): The stock is slashed to Sell from Hold at Stifel Nicolaus, which says there are simply too many unknowns at this point.
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CIT Group?(CIT): CIT is cut to Neutral from Buy at Nomura.
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Constellation Brands?(STZ): Citing uncertainty surrounding the Department of Justice?s lawsuit, Stifel Nicolaus slashes the winemaker to Hold from Buy.
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Gilead Sciences?(GILD): GILD gets downgraded to Neutral from Overweight at Atlantic Equities.
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Homebuilders: Barclays reduces?Ryland Group?(RYL) and?Toll Brothers?(TOL) to Underweight from Equal Weight and takes?PulteGroup?(PHM) and?KB Home?(KBH) to Equal Weight from Overweight.
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Kohl?s?(KSS): KSS is cut to to Neutral from Buy at Citigroup.
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Popular, Inc.?(BPOP): The bank stock is moved to Equal-Weight from Overweight at Morgan Stanley.
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Quiksilver?(ZQK): Shares are trading lower today after getting cut to Neutral from Buy at B. Riley Caris, whose target price on the retailer is now $6.70.
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Real Estate Investment Trusts:?AvalonBay?(AVB) and?Equity Residential?(EQR) are each reduced to Hold from Buy at Jefferies.
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Royal Caribbean?(RCL): Raymond James cuts the cruise company to Perform from Outperform.
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Scientific Games?(SGMS): Deutsche Bank slashes SGMS to Sell from Hold.
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State Street?(STT): STT gets taken to Neutral from Buy at Guggenheim.
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Stryker?(SYK): The medical device maker is moved to Neutral from Buy at UBS.
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Yum Brands?(YUM): The fast food firm, falling 5.58% to a fresh 52-week low before the opening bell, is now Neutral from Outperform with an amended $72 price objective at Robert W. Baird. The chief concern is an increasingly uncertain near-term outlook in China.

(See also: New Stock Coverage: Intel Only Semiconscious and Stock Upgrades: Miracle on 34th Street for Macy?s)

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Source: http://www.minyanville.com/trading-and-investing/stocks/articles/Stock-Downgrades253A-Yum-Brands-Giving-Investors/2/5/2013/id/47888

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