Synopsys Falls on Ratings Cut
Synopsys (SNPS) - Get Report was down 10.5% in midafternoon after Merrill Lynch cut mid-term ratings on the stock to neutral from accumulate.
Merrill also downgraded
Cadence Design Systems
( CDN) to neutral from buy. Cadence was down 5.8%.
Both companies are semiconductor equipment makers.
Merrill said in a research note that it expects the two companies to achieve current quarter expectations, but both companies were likely to be affected soon by "more conservative customer behavior in the products area."
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