Monday, November 18, 2013

Morning Movers: Walgreen Gains on Morgan Stanley Upgrade; Michael Kors Falls on Jefferies Cut

Stocks have ticked lower this morning following last week’s Fed-induced turbulence.


Dow Jones Industrials Average futures have dropped 22 points, while S&P 500 futures have fallen 3.9 points. Nasdaq 100 futures have declined 4.25 points.

The New York Post reported that Carl Icahn can’t sell his stake  Herbalife (HLF) until Feb 28 unless the stock trades above $73 for five consecutive days. Last week, it traded that high for three straight days before dropping 5.1% on Friday.

Sealed Air (SEE) has fallen 0.7% to $28.35 after the food-safety company was downgraded to Equal Weight from Overweight at Barclays.

Towers Watson (TW) has dropped 0.5% to $102.49 after it was cut to Neutral from Overweight at JPMorgan. It was also upgraded to Buy from Hold at Deutsche Bank.

Michael Kors Holdings (KORS) has fallen 1.3% to $75.01 after it was downgraded to Hold from Buy at Jefferies.

Walgreen (WAG) has gained 1.2% to $56.20 after the drug store was upgraded to Overweight from Equal Weight at Morgan Stanley.

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