The Stocks Wall Street Is Watching
The semiconductor sector
has had its estimates cut by Lehman Brothers who now sees growth at 10% from
previous estimates of 27%, and Piper Jaffray, who has reduced its estimates on
the sector on concerns over the capital spending market.
Aerospace and defense
contractor Northrop Grumman
(
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PowerRating) has been upgraded by Bank of
America to “buy” from “market perform”, with a new price target of $145.
Biotech company Genentech
(
DNA |
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PowerRating) has been upgraded by First Albany to “buy” from “neutral” based on
reduced near-term risk and valuation.
Hotel company Marriott
International
(
MAR |
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PowerRating) has been downgraded by JP Morgan to “market perform”
from long-term “buy”.
Furniture and fixture company
Leggett and Platt
(
LEG |
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PowerRating) has reduced its earnings guidance for the
third quarter to $0.31 vs. analysts’ consensus of $0.34. The company cites
higher costs for raw materials.