Moody’s lowers Turkey’s sovereign rating to ‘Ba3’; outlook negative

Dean Foods’ stock plunges toward 7-year low after J.P. Morgan turns bearish

Shares of Dean Foods Co. plunged 7.9% toward a seven-year low in premarket trade Friday, after J.P. Morgan turned bearish on the food and beverage company, citing no less than 10 reasons, including concerns over higher costs, eroding demand and competition for its milk business. Analyst Ken Goldman cut his rating to underweight, after being at neutral since Aug. 8, 2017. He slashed his stock price target to $6, which is 30% below Thursday’s closing price, from $9. The downgrade comes 1 1/2-weeks after the company reported second-quarter results that beat expectations, but the stock tumbled after it slashed its full-year profit outlook. Besides worries about the milk business, Goldman also cited concerns over a possible third-quarter earnings miss, headwinds associated with the shift toward private label, “potential red flags regarding reduced disclosures and corporate governance,” cash constraints and valuation. He said he recently completed a “major review and restructuring” of his working Dean Foods model. “The more we scrubbed the numbers, the less confidence we had that Dean would hit Street forecasts for EPS in any of the next three years,” Goldman wrote in a note to clients. The stock had already plummeted 25.4% year to date through Thursday, while the S&P 500 had gained 6.3%.

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S&P Global Ratings expects Turkey’s inflation to peak at 22%

Dean Foods’ stock plunges toward 7-year low after J.P. Morgan turns bearish

Shares of Dean Foods Co. plunged 7.9% toward a seven-year low in premarket trade Friday, after J.P. Morgan turned bearish on the food and beverage company, citing no less than 10 reasons, including concerns over higher costs, eroding demand and competition for its milk business. Analyst Ken Goldman cut his rating to underweight, after being at neutral since Aug. 8, 2017. He slashed his stock price target to $6, which is 30% below Thursday’s closing price, from $9. The downgrade comes 1 1/2-weeks after the company reported second-quarter results that beat expectations, but the stock tumbled after it slashed its full-year profit outlook. Besides worries about the milk business, Goldman also cited concerns over a possible third-quarter earnings miss, headwinds associated with the shift toward private label, “potential red flags regarding reduced disclosures and corporate governance,” cash constraints and valuation. He said he recently completed a “major review and restructuring” of his working Dean Foods model. “The more we scrubbed the numbers, the less confidence we had that Dean would hit Street forecasts for EPS in any of the next three years,” Goldman wrote in a note to clients. The stock had already plummeted 25.4% year to date through Thursday, while the S&P 500 had gained 6.3%.

http://feeds.marketwatch.com/~r/marketwatch/realtimeheadlines/~3/7DaS-4Taug0/

S&P Global Ratings expects Turkey’s economy to contract in 2019

Dean Foods’ stock plunges toward 7-year low after J.P. Morgan turns bearish

Shares of Dean Foods Co. plunged 7.9% toward a seven-year low in premarket trade Friday, after J.P. Morgan turned bearish on the food and beverage company, citing no less than 10 reasons, including concerns over higher costs, eroding demand and competition for its milk business. Analyst Ken Goldman cut his rating to underweight, after being at neutral since Aug. 8, 2017. He slashed his stock price target to $6, which is 30% below Thursday’s closing price, from $9. The downgrade comes 1 1/2-weeks after the company reported second-quarter results that beat expectations, but the stock tumbled after it slashed its full-year profit outlook. Besides worries about the milk business, Goldman also cited concerns over a possible third-quarter earnings miss, headwinds associated with the shift toward private label, “potential red flags regarding reduced disclosures and corporate governance,” cash constraints and valuation. He said he recently completed a “major review and restructuring” of his working Dean Foods model. “The more we scrubbed the numbers, the less confidence we had that Dean would hit Street forecasts for EPS in any of the next three years,” Goldman wrote in a note to clients. The stock had already plummeted 25.4% year to date through Thursday, while the S&P 500 had gained 6.3%.

http://feeds.marketwatch.com/~r/marketwatch/realtimeheadlines/~3/7DaS-4Taug0/

S&P Global Ratings cuts Turkey’s sovereign credit rating to ‘B+’ from ‘BB-‘

Dean Foods’ stock plunges toward 7-year low after J.P. Morgan turns bearish

Shares of Dean Foods Co. plunged 7.9% toward a seven-year low in premarket trade Friday, after J.P. Morgan turned bearish on the food and beverage company, citing no less than 10 reasons, including concerns over higher costs, eroding demand and competition for its milk business. Analyst Ken Goldman cut his rating to underweight, after being at neutral since Aug. 8, 2017. He slashed his stock price target to $6, which is 30% below Thursday’s closing price, from $9. The downgrade comes 1 1/2-weeks after the company reported second-quarter results that beat expectations, but the stock tumbled after it slashed its full-year profit outlook. Besides worries about the milk business, Goldman also cited concerns over a possible third-quarter earnings miss, headwinds associated with the shift toward private label, “potential red flags regarding reduced disclosures and corporate governance,” cash constraints and valuation. He said he recently completed a “major review and restructuring” of his working Dean Foods model. “The more we scrubbed the numbers, the less confidence we had that Dean would hit Street forecasts for EPS in any of the next three years,” Goldman wrote in a note to clients. The stock had already plummeted 25.4% year to date through Thursday, while the S&P 500 had gained 6.3%.

http://feeds.marketwatch.com/~r/marketwatch/realtimeheadlines/~3/7DaS-4Taug0/