Updated from 9:18 a.m. EST
CHANGE IN RATINGS
Computer Sciences (CSC Quote) downgraded at UBS from Buy to Neutral. $36 price target. Estimates also cut, as the company will likely struggle to meet 2009 margin and bookings guidance. Shares were down 2.1% to $37.09 in midday trading Thursday.
Intel (INTC Quote) downgraded at Argus to Hold. Near-tern prospects remain dismal, given the latest guidance. Company needs heavy capital spending to drive innovation. Shares were up 0.1% to $14.46.
Sun Microsystems (JAVA Quote) downgraded at Goldman Sachs to Sell from Neutral due to deteriorating fundamentals. Company's concentrated customer base and dependence on UNIX server sales are a major disadvantage vs. diversified competitors. See downside potential following recent rally. Price target at $3. Shares were down 8.8% to $4.64. ...
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