SCI Systems

(SCI) - Get Report

was down 5% at midday after hitting a 52-week low of $21.69.

Merrill Lynch

downgraded it to intermediate-term neutral from accumulate, its second recent downgrade by the brokerage. Merrill trimmed its earnings estimate for SCI and also cut forecasts for other contract electronics manufacturers.

Affected are


(CLS) - Get Report

, down 3.8%;

C-Mac Industries

( EMS), up 1.2%;

Jabil Circuit

(JBL) - Get Report

, down 8.4%;


, down 3.8% and


( SLR), down 4%.

Merrill retained its estimate for


(FLEX) - Get Report

, pending the company's conference call.