Editor's Note: Green and red arrows refer to intraday stock price movement.


Adobe Systems ( ADBE) downgraded at FBR from Market Perform to Underperform. $28 price target. Creative Suite is losing its ability to drive business.

AO Smith ( AOS) upgraded at Maxim from Hold to Buy. $50 price target. Company is performing well, despite rising raw materials costs.

Blackboard ( BBBB) downgraded at BofA/Merrill from Buy to Underperform, Bank of America/Merrill Lynch said. $48 price target. Valuation call, as the company evaluates unsolicited bids.

Blackboard ( BBBB) downgraded at Baird from Outperform to Neutral, Robert Baird said. Valuation call, based on a $50 price target.

Cubist Pharmaceuticals ( CBST) upgraded at Oppenheimer from Perform to Outperform, Oppenheimer said. $37 price target. Recent settlement with TEVA was favorable for the company.

Cree ( CREE) downgraded at Kaufman from Hold to Sell, Kaufman Bros. said. $29 price target. Company is seeing weaker demand and lacks visibility.

Cree ( CREE) downgraded at Merriman from Buy to Neutral, Merriman Capital said. Estimates also cut, as the company is facing weaker margins.

CreXus Investment ( CXS) initiated at Credit Suisse with an Outperform rating and $13 price target. Refinancing key to achieveing premium to book, Credit Suisse said.

Intel ( INTC) upgraded at FBR from Market Perform to Outperform, FBR Capital Markets said. $27 price target. PC market can still grow, even as demand for tablets and smartphones ramp.

Intel estimates, target boosted at UBS. Shares of INTC now seen reaching $28.50, according to UBS. Estimates also upped, given higher PC demand. Buy rating.

Juniper Networks ( JNPR) downgraded at Ticonderoga from Buy to Neutral. Valuation call, as the company offered a soft profit outlook.

Juniper Networks numbers reduced at UBS. JNPR estimates were cut through 2012. Company is seeing weaker enterprise demand. Neutral rating and new $42 price target.

Kinder Morgan ( KMI) rated new Outperform at Morgan Keegan. $33 price target. Company can generate double-digit dividend growth over each of the next three years.

Lamar Advertising ( LAMR) upgraded at Benchmark from Hold to Buy, Benchmark Company said. $40 price target. Stock has pulled back 20%, but the company can deliver solid growth.

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