Mosaic is also downgraded to 'neutral,' and Michael Kors is initiated with an 'outperform.'
Distributors are deferring purchases, notes Mosaic, on the hope that supply will increase and prices may subsequently drop.
The country is reportedly preparing to ask for aid. US home prices rise. GM and Chrysler post sales gains, but Ford's sales are flat. MetroPCS soars on a deal rumor. PetSmart will replace Sunoco in the S&P 500.
This summer's record drought sent some commodity prices soaring, but a retreat in recent weeks leaves a few stocks ready for harvest.
Eli Lilly is upgraded to 'overweight,' and GlaxoSmithKline is downgraded to 'neutral.'
LyondellBasell is downgraded to 'neutral,' and Mosaic is initiated with a 'hold.'
Roche is upgraded to 'overweight,' while GlaxoSmithKline is downgraded to 'underweight.'
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MONEY & POLITICS
Breaking up big banks is an untested solution to the too big to fail problem that attempts to isolate and dismantle large, troubled institutions while protecting the rest of the economy.
The IRS is struggling to combat identify thieves who file fraudulent tax returns in the names of older residents who don't need to file.