|Sunday, April 20, 2014
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Stocks Downgraded – AYI, CAT, CLX, PG, REDN, EXC, INTU, JRCC, JOY 



B. Riley & Co slashes Elizabeth Arden, Inc. (NASDAQ:RDEN) to Neutral from Buy. The company has announced that Stephen J. Smith has resigned as the Company’s Executive Vice President and Chief Financial Officer in order to acknowledge a position as Executive Vice President and Chief Financial Officer with the Hain Celestial Group, Inc. (NASDAQ:HAIN) based in Lake Success, New York.

UBS cuts the Acuity Brands (NYSE:AYI) to Neutral from Buy. Illuminating engineering society of the company selects 14 acuity brands lighting products for annual progress report. Shares of Acuity Brands, Inc. (NYSE:AYI) were closed at $93.65 in last session.

Caterpillar (NYSE:CAT) is reduced to Neutral from Buy at Robert W. Baird. The bank believes that the problems in both mining and earth moving equipment are expected to be an overhang. Shares of Caterpillar Inc. (NYSE:CAT) were up 0.17% to $87.99 in premarket. In last session CAT closed at $87.84.

Barclays cuts The Clorox Co (NYSE:CLX) to Underweight from Equal Weight and imposes an Equal Weight from Overweight rating cutback on Procter & Gamble (NYSE:PG), the Dow member whose omnipresent brands comprise Charmin, Luvs and Gillette. According to the Company, the new product cleans soft surface, sterilizes hard surfaces, eradicate airborne odor-causing bacteria, and reduces allergens. Shares of The Clorox Co (NYSE:CLX) were closed at $84.42 in last session.

Procter & Gamble Co. (NYSE:PG) shares are squashing water until the company creates a quicker growth rate. Its CEO Alan Lafley sold 1,168 shares of the company stock on the open market in a transaction that happened on Friday, September 13th. Shares of The Procter & Gamble Company (NYSE:PG) were closed at $80.29 in last session.

Robert W. Baird gives Joy Global (NYSE:JOY) a Neutral from Buy downgrade, trimming its target price by $2 to $55 among ongoing ambiguity in Latin America. Shares of Joy Global Inc. (NYSE:JOY) were closed at $53.55 in last session.

RBC Capital Markets shifts the Exelon Corporation (NYSE:EXC) to Sector Perform from Outperform. Barclays held its CEO Energy Conference previous week, and the company’s Chris Cane is performing a new tune. While his company puts down claim to a gigantic 20% of all nuclear capacity in the United States. Shares of Exelon Corporation (NYSE:EXC) were closed at $31.02 in last session.

Intuit (NASDAQ:INTU) is captured to Underweight from Equal Weight at Morgan Stanley. The company also recently declared a quarterly dividend. Stockholders of record on Thursday, October 10th will be given a dividend of about $0.19 per share. This is a boost up from company’s previous quarterly dividend of $0.17. Shares of Intuit Inc. (NASDAQ:INTU) were closed at $66.08 in last session.

The commodity company James River Coal (NASDAQ:JRCC) gets moved to Underweight from Hold by BB&T Capital Markets. It has had a jagged couple of years. Monday’s declaration that the company was cutting production and lying off 525 workers is just the newest installment of bad news for the corporation and the coal industry. Shares of James River Coal Company (NASDAQ:JRCC) were closed at $2.19 in last session.
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About the author: Joshua Brewer

Assistant Editor Joshua Brewer is a lead contributor to eFinanceHub's technology section. Contact Josh via email at JBrewer@eFinanceHub.com.

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