MOST NOTEWORTHY: Today's list of downgrades were filled with notable companies, including Yahoo! Inc (YHOO), Advanced Micro Devices Inc (AMD), Intel Corp (INTC) and Microsoft Corp (MSFT).- Goldman Sachs downgraded Yahoo! (NASDAQ: YHOO) to Neutral from Buy, with a $31.50 target, citing valuation.
- Advanced Micro Devices Inc (NYSE: AMD) was downgraded to Underperform from Market Perform at Friedman Billings following their disappointing quarter. They told clients AMD no longer enjoys a technical advantage and is losing share in the higher margin segments. Credit Suisse downgraded Advanced Micro to Underperform from Neutral, American Technology downgraded shares to Sell from Buy and Caris downgraded shares to Above Average from Buy.
- Intel Corp (NASDAQ: INTC) was downgraded to Neutral from Buy at American Technology. The firm believes management may not have been conservative enough with their margin guidance and doesn't see an end to the price war.
- Microsoft Corp (NASDAQ: MSFT) was downgraded to Neutral from Buy at DA Davidson.
OTHER DOWNGRADES:
- JP Morgan downgraded shares of Continental Airlines Inc (NYSE: CAL) to Underweight from Overweight on valuation.
- Goldman Sachs downgraded Manpower Inc (NYSE: MAN) to Sell from Neutral.
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