Texas Instruments (TXN) was downgraded from Neutral to Underperform at Sterne Agee with a $27 price target. Exit from the wireless segment will weigh on sales and margins.
Valassis (VCI) was downgraded from Overweight to Neutral at JP Morgan with a $30 price target. Valuation call, as the stock is up 41% year-to-date.
STOCK COMMENTS / EPS CHANGES
Apple (AAPL) estimates, target cut at Canaccord. Shares of AAPL now seen reaching $750, according to Canaccord Genuity. Estimates also reduced, given lower expected iPad sales. Buy rating.
ARIAD Pharma (ARIA) numbers lowered at Jefferies. Shares of ARIA now seen reaching $23, Jefferies said. Estimates also lowered on safety issues for Iclusig. Buy rating.Bed Bath & Beyond (BBBY) numbers cut at UBS. Shares of BBBY now seen reaching $64.50, UBS said. Estimates also lowered as shares reflect caution on comps. Neutral rating. Expedia (EXPE) estimates, target boosted at Cantor Fitzgerald. Shares of EXPE now seen reaching $70, according to Cantor Fitzgerald. Estimates also upped, following positive channel checks. Buy rating. Oracle (ORCL) target raised at Jefferies. Shares of ORCL now seen reaching $34, Jefferies said. Expecting easy comps. Hold rating. PPG Industries (PPG) target raised at Jefferies. Shares of PPG now seen reaching $150, Jefferies said. Potential accretion from PPG-Akzo deal. Buy rating. Research in Motion (RIMM) estimates trimmed at UBS. RIMM estimates lowered through 2014, UBS said. Nine million unit assumption too optimistic. Neutral rating.
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