Updated from 9:18 a.m. EST
CHANGE IN RATINGS
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.
downgraded at Argus to Hold. Near-tern prospects remain dismal, given the latest
. Company needs heavy capital spending to drive innovation. Shares were up 0.1% to $14.46.
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.
upgraded at J.P. Morgan to Overweight from Neutral based on below-average valuation and relative underperformance. Shares are down 33% over the last 12 months, due in part to concerns over JV exposure. See lower potential for additional book value contraction and believe discount to peers could narrow. Price target at $8.50. Shares were up 3.4% to $10.98.
upgraded at Cowen to Outperform. Total holiday sales grew 9%, driven by the flagship brands. Stock has lagged its peers since early December, and offers attractive value. Shares were up 9.3% to $15.30.
downgraded at Cowen to Underperform. Company's same-store sales fell 24% during the holiday selling season, and the company will likely not be profitable during 2009. Shares were down 2.7% to $8.57.
STOCK COMMENTS / EPS CHANGES
numbers cut at Morgan Stanley through 2009. Company hurting from lower coal production and prices. Overweight rating and new $38 price target. Shares were up 1.7% to $25.92.
numbers raised at Morgan Stanley. Shares now seen reaching $13. Estimates also raised to reflect the potential for more generic sales in France and a positive outlook for generic Paxil CR. Overweight rating. Shares were up 1.6% to $10.35.
numbers lowered at Barclays. Shares now seen reaching $13. Estimates also cut, as the recent Treasury intervention in the commercial paper market has likely cut into the company's net interest margin. Overweight rating. Shares were down 4.5% to $10.07.
This article was written by a staff member of TheStreet.com.