Here are the biggest calls on Wall Street on Wednesday
Guggenheim said its downgrade that it thinks the stock will be "range bound" for the next 6-9 months.
"We are downgrading Monster to NEUTRAL given our view that the stock will be range bound for at least the next 6 to 9 months until the market can better gauge the impact on Monster from the planned January launch of Coca-Cola Energy in the US. In Europe, the longer-term implications of the launch are still largely unknown, but we are seeing some early signs of softness for Monster in Great Britain and Germany.
"A negative narrative has gained momentum since the summer, driven by 1) third party data sources suggesting subscriber shortfalls; 2)'s move in August to increase the free trial period from 1 month to 3, which has supported fears of negative subscriber trends; 3) the realization among investors that near-term podcasting investments will not be offset by potential '2-sided marketplace' revenue, which is longer-term in nature; and 4) time spent listening to podcasts is not...
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