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Broadcom, Devon Energy Upgraded and MKM Partners' on AT&T

Ruben Ramirez
6/03/14 11:30 AM EDT
Broadcom gets an upgrade at Wedbush Securities, Devon Energy is upgraded at Wells Fargo Securities and MKM Partners says AT&T is cutting capital spending. Wedbush is raising its rating on Broadcom to OUTPERFORM from NEUTRAL after the company said it is planning to sell or wind down its cellular baseband business. Wells Fargo is upgrading shares of Devon Energy to OUTPERFORM from MARKET PERFORM on improving production visibility as well as an attractive valuation. MKM Partners says its channel checks indicate AT&T is cutting its capital spending as it readjusts following its purchase of DirecTV. MKM says the freeze is likely to impact Ciena, Alcatel-Lucent, Juniper, Adtran and JDSU. Ruben Ramirez reports from the NYSE.
Stocks in this video: BRCMDVNTCIENALUJNPRADTN

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