Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Stock Downgrades: Advanced Semiconductor in Retreat

By

Wall Street ratings agencies set the tone for today's stock market.

PrintPRINT
MINYANVILLE ORIGINAL Polish vodka purveyor Central European Distribution (CEDC) imploded 8.74% as the dreaded realization dawned that the country, whose economy is relatively booming, drew the short straw and is about to kick off Europe's quadrennial soccer contest against…Greece. A sell initiation saw Facebook (FB) tumble a further 2.96% at a site that may soon court the under-13 set. (Presumably with the sort of parental supervision that was noticeably lacking in its recent IPO.) And Bank of America (BAC) dropped 1.71% despite positive research comments, the roof falling in on a firm where a would-be robber just got stuck in a debt ceiling air duct. Today in economics, analysts expect May's Institute for Supply Management Index services index to slip slightly at 10:00 a.m. Eastern. On the earnings front, American Woodmark (AMWD), Bob Evans Farms (BOBE), Christopher & Banks (CBK), Mattress Firm Holding (MFRM), and Oxford Industries (OXM) are all due to report results.

Advanced Semiconductor (ASX): ASX gets downgraded to Hold from Buy at BNP Paribas.

Brocade Communications (BRCD): The stock is lower before the opening bell on a Hold-from-Buy ratings reduction at ThinkEquity.

DigitalGlobe (DGI): Shares are now Neutral from Overweight at JPMorgan.

Navistar (NAV): NAV is downgraded to Neutral from Outperform at Robert W. Baird, which takes its price target to $31. The brokerage is expecting disappointing Q2 earnings on June 7.

(See also: Stock Upgrades: Buckeye Is a Bull's Eye and New Stock Coverage: Iron Mountain Scaling the Peaks.)
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE