Mirage on 34th Street? Macy's comeback faces challenges

America's top retailers in trouble

America’s top retailers in trouble

Macy’s just got downgraded by one of Wall Street’s top investment banks, and investors aren’t pleased.

The company’s stock fell more than 3% Thursday on an up day for the broader market, no less … after Morgan Stanley slapped an “underweight” rating on the stock — a nicer, jargony way of saying sell.