Time to Bin these Stocks: USNA, CIEN, ASML, ADBE, BP

Usana Health Sciences Inc. (NYSE:USNA): The company stock is currently trading at $38.61, up 0.99 percent from its previous close. It opened at $38.18 and has traded in the range of $38.02 and $38.69 in the current trading session.

Usana Health Sciences has been downgraded the stock from Buy to Hold by Canaccord Genuity. Its price target has also been chopped from $60 to $40. The company is going through rejig process as its COO resigned from his position. The company CFO has also curtailed his responsibilities due to family health issues. Usana Health Sciences has appointed Chief Production Officer Jim Brown to take the additional responsibilities of COO position. In the meantime, Paul Jones will act as interim CFO. The company stock commands the Price Earnings ratio of 9.41. Usana Health Sciences manufactures and markets personal care products and nutritional products. The company also offers meal replacement food products. Usana Health Sciences is based out of Salt Lake City, Utah.

Ciena Corp. (NASDAQ:CIEN): The company missed its EPS estimates and received a flurry of downgrades. BMO Capital Markets has downgraded the stock from Outperform to Market Perform. It has also slashed the target price from $17.00 to $15.00. Similarly, Oppenheimer also brought the stock down to Market Perform rating. Ciena is currently trading at $15.47, up 1.11 percent from its previous close. It has traded in the range of $15.28 and $15.56 in the current trading session. However, the stock is trading above its 20 days moving average price of $15.45 and 50 days moving average price of $15.34. Ciena announced its fourth quarter results and while it met its revenue targets, it missed EPS estimates. The company’s revenue stood at $465.5 million and its EPS was reported at -$0.07. The stock is trading at beta of 2.19.

ASML Holding NV (NASDAQ:ASML): Caris & Co. downgraded the stock to Average, from Buy, while Pacific Crest now rates ASML Holding as Sector Perform, from Outperform.  The stock is currently trading at $63.84, up 0.38 percent from its previous close. However, the stock is trading above its 20 days moving average price of $63.81 and 50 days moving average price of $63.61. The company is currently in the process of finalizing the acquisition of outstanding shares of Cymer. ASML Holding will pay $20 in cash for each share of Cymer. The shareholders will also receive 1.1502 ASML shares for each Cymer stock. ASML Holding is trading at the Price Earnings ratio of 13.77. It has traded in the range of $40.15 and $63.92 in the past 52 weeks. The company also recently completed its share buy back program announced in 2011.

Adobe Systems (NASDAQ:ADBE): The stock is currently trading at $37.33, down 0.24 percent from its previous close. It has traded in the range of $27.40 and $38.10 in the past 52 weeks. Adobe Systems has been downgraded by Janney Capital from Buy to Neutral. The downgrade seems to be contrarian as the company recently reported better than expected quarterly results. It reported its revenue for the quarter at $1.15, surpassing the analysts’ expectations of $1.1 billion. Its EPS stood at 61 cents per share. Analysts were expecting the company to report its EPS at 56 cents per share. However, the stock is trading above its 20 days moving average price of $37.32 and 50 days moving average price of $37.31. The stock is trading at the Price Earnings ratio of 22.46. Adobe is a diversified software company and it is based out of San Jose.

BP Plc (NYSE:BP): The company is still struggling to get out of its financial mess caused by its oil spilling disaster. It has been downgraded from Outperform to Neutral by Credit Suisse. BP recently reported sale of its North Sea gas field for $288 million. The company holds 50 percent non-operated stake in the field. The company stock is currently trading at $41.81, up 0.24 percent from its previous close. The stock had opened at $41.77 and has traded in the range of $41.75 and $41.86 in the current trading session. BP Plc stock commands the Price Earnings ratio of 7.59. BP also sold a parcel of its assets in North Sea for $1.1 billion last month.

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