Tech stocks ended the day in the red, with the Nasdaq dropping 1.2% to close at 2153.
shares slipped 5.5% to $4.10 after Oppenheimer downgraded the stock to perform from outperform and set its price target at $5. The firm believes that falling DRAM memory chips and NAND flash prices could hurt earnings.
also fell after JP Morgan lowered the stock's rating to neutral from overweight, pointing out that the company's top -ine growth is unlikely to carry through next year.
STMicroelectronics tumbled 5.1% to close at $11.06.
( SVVS) fell 5% to $14 after Jefferies downgraded the stock to hold from buy. The firm says Savvis will need to spend more on capital expenditures and found that the demand for large-scale managed hosting projects "remains lukewarm."
shares were on a sharp decline on Tuesday, off 7.1% to $18.39.
reported that hedge funds might be shorting the stock in anticipation of the company potentially issuing a warning on its third-quarter earnings.