Stock Downgrades: FDP, BRY, ATNI, JBLU, SINA
Wednesday, March 02, 2022 10:46 AM

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The broader market has started to bounce to a modest gain. The move has been relatively broad, but Joy Global has been left behind. Its loss, which is currently near 3 percent, is one of the worst in the S&P 500 this morning. Meanwhile, Yahoo! is up close to 4 percent, which makes it one of this morning's strongest performers.

Stock Downgrades:

Analysts at CLSA have downgraded Fresh Del Monte (NYSE: FDP) to Underperform from Buy. The downgrade came after the firm raised FDP’s price target to $29 from $25. The stock is trading at $26.74, down 0.07 percent.

The stock of Berry Petroleum (NYSE: BRY) was downgraded to Accumulate from Buy, by the analysts at Global Hunter. The company was downgraded after its quarterly profits were cited to have lagged estimates for the first time this year on lower sales at its electricity segment and higher expenses. BRY is currently trading at $47.89, down 1.18 percent.

Atlantic Tele-Network (Nasdaq: ATNI) was downgraded to Equal Weight from Over Weight, after its Q4 results. The shares of the company are trading at $34.33, down 8.33 percent.

JetBlue (NASDAQ: JBLU) was downgraded by the analysts at Raymond James to Market Perform from Outperform. The company faced the downgrade after its attempted $20 raise in domestic ticket prices. JBLU is trading at $5.56, down 0.54 percent.

ThinkEquity downgraded SINA (NASDAQ: SINA) to Hold from Buy, based on valuation and potential margin pressure from increased investments. The stock is currently trading at $74.95, down 8.60 percent.

 

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Market news:

  • With a Bush at his side, Obama promotes education Mar 04, 2022 11:37 PM

    • MIAMI - Joining forces with the Bush political family, President Barack Obama on Friday tried to lift up his education agenda in politically vital Florida, saying his government is determined to help the nation's worst performing schools rebound.
    • Obama's stop at an improving high school offered the bipartisan imagery he intended: the president on stage and in step with Jeb Bush, the popular Republican ex-governor of Florida.
    • Bush is also the brother of former President George W. Bush - the man Obama succeeded in the White House after long assailing his record on the campaign trail.
      • Kasich: When Ohio union bill passes, I'll sign it Mar 04, 2022 11:22 PM

        • COLUMBUS, Ohio - Gov. John Kasich said Friday that he anticipates the Legislature will pass a tough bill restricting union activity by public workers in Ohio and that he'll sign it into law with little fanfare, out of respect for the raw emotions surrounding the bill.
        • The measure - which still has to go through the GOP-led House - would limit the bargaining rights of roughly 350,000 teachers, firefighters, police officers and other public employees.
        • Unlike with similar legislation being debated in Wisconsin, Republicans in Ohio managed to move the bill quickly through the state Senate.
          • Trend reversal: Big drop in kids' ear infections Mar 04, 2022 11:22 PM

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              • Tucson suspect charged with murders of judge, aide Mar 04, 2022 11:06 PM

                • PHOENIX - Federal prosecutors on Friday announced new charges against the suspect in the attempted assassination of Rep. Gabrielle Giffords, accusing him of killing six people and wounding 13 others who were exercising the fundamental American "right to meet freely, openly and peaceably with their member of Congress."
                • A federal grand jury returned the 49-count indictment Thursday, charging Jared Lee Loughner in the deaths stemming from a Jan. 8 shooting at a political event held by Giffords outside a grocery store.
                • "This indictment is comprehensive and is solid, and covers all the murdered and injured victims," U.S. Attorney Dennis Burke said.
                  • Sean Penn says he'd welcome Sheen's help in Haiti Mar 04, 2022 10:46 PM

                    • LOS ANGELES - Sean Penn says he thinks Charlie Sheen could do a lot of good in Haiti, both for himself and the nation struggling to recover from a devastating earthquake.
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