Merrill Lynch analyst Lorraine Maikis has cut her stock ratings for Tiffany and Co. and Blue Nile from "neutral" to "sell," CNBC has reported. According to the news source, the cuts come amidst an unstable economic environment, where rising food and gas prices, the credit crunch and a weak housing market are forcing consumers to cut back on big-ticket luxury items such as jewelry. High metal prices also are creating turbulent times for retailers.

Read Full Story